Bank N26 is an online bank based in Germany that provides convenience for users all around the world. It’s actively being used in 23 countries. Business people and travelers have found it quite useful. Compared to its spread, N26 doesn’t have any physical buildings or branches. Users carry out their transactions fully online.
In 2013, it started to work as a startup and two years later, it became a bank. N26 offers many advantages to its users including free transactions across many currencies.
In this N26 review, you’ll find out more benefits of having an N26 account below.
Main Benefits of Holding a Bank N26 Account
- You can sign up for an N26 account for free. Furthermore, it takes only minutes to do this. Also, you don’t need to deal with paperwork for this
- N26 offers a few account types, and the Free Standard Account is completely free
- In any EU country, you can withdraw money from an ATM up to five times a month for free
- Currency conversions or international purchases do not require fees
- It offers a transparent service from the beginning to the end
- N26 account is especially useful for freelancers, travelers, and expats
- You can carry out various transactions through your N26 account. These include transfers, payments and deposits, and currency exchange
- N26 app provides transfers into 19 currencies
- It offers contactless payments. I?n this way, you can pay through the app without swiping your card.
How Does It Work?
You can conduct all actions completely online through N26. You can use the website or the app for this. You can also reach the support team 24/7. N26 services are available in the following languages: English, French, German, Italian, and Spanish.
N26 Review: How To Open an N26 Account
Note that to be able to open an N26 account:
- You need to be older than 18 years of age, and
- You need to have an address in one of the countries N26 operates. These countries are Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, the Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, the USA
You may not be a European or American citizen but located in Europe or the US. In this case, you’ll also need a residence card while applying for the N26 account. The residence card must have at least one year of validity. A valid passport is also necessary.
If you’re a European citizen, only a passport is sufficient for proof of identity.
Note that both N26 France and N26 Portugal are very popular among the young generation.
N26 Review: Steps
On this section of our N26 review, you can find the steps to opening an N26 account below:
- As a first step, you can download the N26 app or go to its website. Then, click on the Open an N26 Account button
- Then, you fill in the personal information section
- At this step, you’ll confirm your identity. You can do this through document verification or via a video call
- Now, you’ll choose the type of account you wish to open. These accounts include N26 Standard, N26 You, N26 Metal, and N26 Business
- Then, you’ll pair your account with your phone. They’ll send you a four-digit activation code through SMS
- Finally, the application process is complete, and you’re ready to use your account. You may also apply for a card. You’ll receive the card accordingly.
What Are the N26 Account Types?
N26 mainly offers four different accounts, namely:
- N26 Standard: Completely free
- N26 You: 9,90 monthly and offers Allianz travel insurance
- N26 Metal: 16.90 monthly, and
- N26 Business.
N26 Standard
Most of the users are using the N26 Standard. Through N26 Mastercard, you can withdraw money from ATMs for free up to five times in any EU country. Additional withdrawals charge you 2 per transaction.
N26 You
Travelers can benefit from this account quite well. It offers Allianz shopping and travel insurance. Also, it doesn’t require extra fees for international withdrawals. Unlimited international payments is another benefit of N226 You.
N26 You is 9,90 per month.
N26 Metal
It includes all the benefits N26 You offers. In addition, N26 Metal offers VIP customer support and additional exclusive offers.
N26 Metal is 16,90 per month.
N26 Business
N26 Business offers a business account for independent workers. It comes with free and paid options you can choose from.
N26 in Portugal
N26 Portugal is one of Portugal’s most popular digital banking options. The free account option, affordability of additional transaction fees and premium packages, user experience, and security are the key factors.
Revolut and Monese are N26’s primary competitors in the Portuguese market.
Additional Features
N26 categorizes transactions depending on your activity. In this way, you can make the next transactions easier.
Each month, you’ll also get spending statistics. It allows you to track your activities in a systematic way.
It’s also possible to request money via your N26 account.
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