N26 Review

N26, founded in 2013 in Berlin, stands as one of the pioneering digital banks, known for its longevity in the digital banking sector.

For those within the Eurozone seeking an alternative to traditional banks but still desiring the security of a banking license, N26 is an ideal choice. (In the EU, all deposits are protected up to €100,000.)

As of January 2022, N26 has ceased its services for clients in the United States.


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What is N26?

N26 is a digital bank that offers a range of financial services primarily through its mobile app. It operates as an innovative and user-friendly banking platform designed to provide a modern banking experience. N26 started in 2013 in Berlin and has since expanded its presence across various countries, particularly in Europe.

The bank provides different types of accounts, each with varying features and benefits, catering to diverse financial needs. These accounts often include standard checking accounts, premium accounts with added perks like travel insurance or higher withdrawal limits, and metal accounts offering exclusive benefits.

N26 is popular for its fee-free basic banking services, seamless currency exchange at competitive rates, and fee-free transactions abroad. It focuses on providing a sleek and intuitive user interface, incorporating budgeting tools, spending categorization, and insights to help users manage their finances more effectively.

Furthermore, N26 emphasizes security, implementing measures like two-factor authentication and allowing card locking/unlocking via the app for added safety.

N26 Pros

  1. User-Friendly Interface: N26 offers a sleek, intuitive, and easy-to-navigate mobile app, providing a modern banking experience.

  2. Variety of Account Options: It provides different account types with varying features, catering to diverse financial needs, including standard accounts, premium accounts, and metal accounts.

  3. Fee-Free Basic Banking Services: Many N26 accounts offer fee-free transactions, including currency exchanges at competitive rates and fee-free spending abroad.

  4. Budgeting Tools: The app includes features for budgeting, spending categorization, and insights, helping users manage their finances effectively.

  5. Security Measures: N26 emphasizes security, implementing features such as two-factor authentication and card locking/unlocking via the app.

  6. Accessibility: With its mobile-based platform, N26 offers convenient access to banking services on-the-go.

N26 Cons

  1. Limited Customer Support Channels: N26 primarily offers customer support through its app or online chat, lacking traditional physical branches. This limited support may be insufficient for some users who prefer more extensive customer service options.

  2. Geographical Limitations: Certain features or services offered by N26 might vary depending on the region. Additionally, specific account types or services may not be available in all countries where N26 operates.

  3. Account Fees for Premium Features: While some basic N26 accounts offer fee-free services, certain premium accounts with added benefits may involve monthly fees. This fee structure might not align with the preferences or financial needs of all users.

  4. Limited Cash Deposit Options: As a digital bank, N26 may not facilitate cash deposits, which could inconvenience users who frequently deal with cash transactions and need a way to deposit funds easily.

  5. ATM Usage Limitations: Depending on the account type, N26 might impose restrictions on the number of free ATM withdrawals or charge fees for ATM usage beyond specific limits. This limitation could affect users who rely heavily on cash withdrawals.

  6. Potential Lack of Physical Presence: N26 operates without physical branches, which could be a drawback for individuals who prefer or rely on in-person banking services or face-to-face interactions for certain transactions or inquiries.

N26 fees

If you possess the N26 Standard account, you’ll receive a complimentary virtual card. For a physical card, you can request one for €10.

ATM Charges: Withdrawals from ATMs typically come at no cost in the currency of your N26 account. Within the EU, the standard account offers three free ATM withdrawals per month. Opting for the free standard plan, withdrawing money in a different currency incurs a charge of 1.7% of the total amount.

Transfer Charges: Transferring money within the same currency as your N26 account is free. For international transfers, N26 has collaborated with Wise, and you only need to cover Wise’s foreign exchange fee, which is relatively low.

Currency Exchange Fees: Using your card for spending in a currency other than your account incurs no additional charge. The card provider’s (such as Mastercard for EU users) foreign exchange rates, which are highly favorable, will apply.

Top-Up Charges: N26 does not impose a fee for topping up your account using another bank card.

N26 countries

Here is a list of some countries where N26 is available

  1. Austria
  2. Belgium
  3. Denmark
  4. Estonia
  5. Finland
  6. France
  7. Germany
  8. Greece
  9. Iceland
  10. Ireland
  11. Italy
  12. Latvia
  13. Liechtenstein
  14. Lithuania
  15. Luxembourg
  16. Netherlands
  17. Norway
  18. Poland
  19. Portugal
  20. Slovakia
  21. Slovenia
  22. Spain
  23. Sweden
  24. Switzerland

N26 Premium account benefits

You or N26 Metal, typically offers a range of additional benefits compared to the standard N26 account. Here are some common benefits associated with N26’s premium account offerings:

N26 You Account Benefits:

  1. Travel Insurance: The N26 You account commonly includes travel insurance coverage, offering various protections such as trip cancellations, medical emergencies, or luggage insurance while traveling.

  2. Increased Withdrawal Limits: Users with the N26 You account might benefit from higher ATM withdrawal limits compared to the standard account.

  3. Exclusive Partner Offers: This account type often provides exclusive offers or discounts in collaboration with partner brands, including travel, lifestyle, or retail services.

  4. Metal Card: Some versions of the N26 You account offer a distinctive metal card with various design options, providing a premium look and feel compared to the standard plastic card.

N26 Metal Account Benefits:

  1. Extensive Travel Insurance: The N26 Metal account typically offers comprehensive travel insurance, covering a wider range of travel-related contingencies with higher coverage limits compared to the N26 You account.

  2. Concierge Service: Users with the N26 Metal account might have access to a dedicated concierge service for assistance with travel arrangements, reservations, or other concierge-related services.

  3. Exclusive Perks and Cashback: This account often provides exclusive benefits like cashback rewards on purchases, airport lounge access, or discounts on various services.

  4. Enhanced Customer Support: The N26 Metal account usually includes priority customer support, offering faster and more personalized assistance compared to standard account holders.

N26 banking features

Some of the key banking features associated with N26 include:

  1. Mobile Banking: N26 operates primarily through its mobile app, providing users with easy access to their accounts, transactions, and financial management tools directly from their smartphones.

  2. Various Account Types: N26 offers different account options, such as standard, premium (N26 You), and metal (N26 Metal) accounts, each with varying features, benefits, and pricing to cater to different financial needs and preferences.

  3. Fee-Free Transactions: Basic N26 accounts often include fee-free transactions within the user’s home country or abroad, offering competitive currency exchange rates for international spending.

  4. Instant Notifications: The app sends real-time notifications for transactions, providing users with immediate updates on account activity and helping them monitor their spending.

  5. Budgeting Tools: N26 typically includes budgeting features, spending categorization, and insights to assist users in managing their finances effectively and tracking their expenses.

  6. Savings Goals: Some versions of N26 offer tools that allow users to set savings goals within their accounts, helping them save towards specific targets or objectives.

  7. Contactless Payments: N26 supports contactless payments through their cards or mobile devices, facilitating quick and secure transactions at compatible payment terminals.

  8. ATM Withdrawals: Depending on the account type, N26 often provides free ATM withdrawals up to a certain limit, both domestically and internationally, with varying withdrawal limits for different account tiers.

  9. Security Features: N26 emphasizes security and typically includes measures such as two-factor authentication, the ability to lock or unlock cards via the app, and biometric identification options for added account security.

  10. International Transfers: N26 allows users to make international transfers with competitive exchange rates and partnered with services like Wise for low-cost international transfers.

N26 additional features

N26 offers supplementary functionalities apart from its core banking services. These include:

  1. Access via Mobile App and Web: N26 is accessible through its mobile app and can also be used on desktop computers through its website.

  2. Extra Features: a. Personal Loans (available in select countries) b. Phone Insurance (included with the Metal Plan, priced at €16.90 per month) c. Travel Insurance (provided with most premium plans offered by N26)

Alternatives to N26

Wise (formerly TransferWise):

Wise is an international money transfer service that aims to provide cost-effective and transparent currency exchange and money transfer solutions. Established in 2011, Wise offers borderless accounts, making it easier for individuals and businesses to send and receive money across different countries while minimizing traditional bank fees. With Wise, users can take advantage of mid-market exchange rates with low and transparent transfer fees. It also offers multi-currency accounts, debit cards, and tools for managing international payments, ideal for freelancers, expatriates, and businesses dealing with global transactions.


Revolut is an innovative financial technology company founded in 2015, focusing on disrupting traditional banking by offering a wide array of financial services through its mobile app. Initially launched as a digital banking alternative, Revolut has expanded to provide diverse financial solutions including currency exchange, international money transfers, budgeting tools, cryptocurrency trading, stock trading (in selected regions), and various types of accounts tailored to personal and business needs. It’s known for its competitive rates for foreign exchange, fee-free spending abroad, and various subscription-based accounts that offer additional perks like travel insurance, higher ATM withdrawal limits, and more.

Both Wise and Revolut aim to simplify financial transactions and offer cost-effective solutions for users dealing with international payments, but they differ in their primary focus and range of financial services offered.

N26 and investments

Consider exploring the options available for peer-to-peer lending through companies we’ve reviewed. These companies offer a variety of investment opportunities in different financial products, such as peer-to-peer loans, investments in business loans, and more. Besides our reviews for Peerberry, Esketit, Crowdpear and Robocash you can explore various platforms providing such services to find the most suitable one for your investment needs

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