Banking and Finance

Online Banking Review | N26 Bank

Francesca
June 13, 2020

About N26 Bank

Founded in 2003, N26 Bank is a great banking service that provides you most of the accustomed features of a regular bank, but in a completely digital way. From cash withdrawals at ATMs to international money transfers at exchange rates with very low fees, they have a lot to offer. As good as N26 seems, does this online bank deserve your banking business? This review will help you make that decision.

N26 Bank
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Pros & Cons

Pros:

  • Fee-free spending abroad

Unlike other banks that require fees to make purchases abroad, customers of N26 Bank don't need to spend an extra amount of money! Save money and enjoy your international trip.

  • Apple/Google pay 

N26 Bank is one of the partners of Apple pay and Google pay! You can send money to your friend on your phone just in a few minutes. 

Cons

  • No telephone support and reduced hours chat support

Unfortunately, N26 Bank doesn’t offer telephone support for its customers. This can be a bummer if you prioritize customer service of the many factors while evaluating N26.

  • No standing orders

As an online banking service, N26 does not offer any brick and mortar locations for its customers. Think twice before you sign up!

Bonus

N26 Bank offers referral bonus through invite codes. If a friend opens up an account using your referral code and makes a purchase over $10, you will earn $10 and your friend will earn $5 too.


Accounts

N26 Card

N26 card is a transparent Mastercard debit card, with free payments in any currency, with no extra foreign exchange rate or fees. If you have an N26 account then you can withdraw cash for free in the UK but any foreign currency is charged at 1.7% of the cash being withdrawn.

N26 You & Metal

As premium services, The N26 You and N26 Metal cards charge a bit more than N26 cards. Aside from all the benefits listed above, these two kinds of premium cards provides coverage  for medical insurance and car rental insurance while traveling. 



N26 Card Comparison
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Minimum Checking/Saving account Requirement

Most banks need you to put some money to maintain your account. Luckily, N26 Bank has no minimum account balance.


Fees

Overdraft Fee

N26 does not currently offer an authorized overdraft. So, if you go overdrawn you will be charged 14.9% EAR (equivalent annual rate) from your N26 account. Be careful when you spend!

Wire Transfer Fee & Foreign Transaction Fees

N26 does not charge for transferring money in the same currency as your N26. The N26 international transfer fee is 0.35-2.0%.

Customer Service 

If you have a question about your N26 account, N26 is more than willing to offer help to you. Reach out using the in-app Chat Support feature or call 1-888-626-0626 or +1-888-N26-0-N26 from 9:00 am to 9:00 pm EST.


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