N26 Review 2023

N26 review - overall score 3.6

N26 is a digital bank started in 2013, making it one of the oldest digital banks. It was established in Berlin.

If you are in the Eurozone and wish to move away from incumbent banks but prefer the safety of a banking license, N26 is the way to go. (In the EU, all deposits up protected up to €100,000.)

As of January 2022, N26 is no longer available to US clients.

Pros

• Has a banking license in the EU
• No charges when spending money in another currency from your card
• Premium subscription options with handy perks like travel insurance

Cons

• You can only hold one currency, which is EUR
• No phone support, chat support can be slow

Account opening and maintenance fee

At N26, account opening is free and maintaining your account is also free, with no monthly cost if you choose the Standard plan.

Card fees

If you have N26 Standard, you'll get a free virtual card. You can order a physical one for €10.

ATM fees

Withdrawing money from any ATM is usually free in the currency of your N26 account. For the standard account in the EU, you get 3 monthly free ATM withdrawals. Withdrawing money in a different currency will cost you 1.7% of the total amount if you choose the free standard plan.

Transfer fee

Transferring money in the same currency as your N26 account is free. For international transfers, N26 has partnered up with Wise and you need to pay only the foreign exchange fee to Wise, which is on the low side.

Currency exchange fee

If you spend from your card in a different currency than your account, there is no extra charge and the card provider's (Mastercard in the case of EU users) foreign exchange rates will apply, which are very advantageous.

Top-up fee

N26 does not charge a fee when you top up your account using another bank card.

*depends on card type and residency

Compare other digital banks

Opening an account at N26 is super easy: it takes only a couple of minutes via your phone and receiving your physical card also takes only a few days.

N26 countries

N26 is available in the following countries: 

Austria, Belgium, Denmark, Estonia, Finland, France (not available for residents in the DOM/TOM), Germany, Greece, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, the Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland.

N26 currencies

N26 is available only in EUR.

Currencies in the app

Within the app you can hold just one currency, which is EUR.

Top-up currencies

At N26, you can top up only in the currency of your account (EUR)

N26 cards overview

N26 cards are available from Mastercard.

N26 Premium account benefits

N26 comes with a variety of premium tiers. The one we tested is called You and it costs €9.90 per month. N26 "You" offers unlimited free ATM withdrawals and travel insurance.

You can also use some additional features like Round-ups (to save with each purchase) and shared sub-accounts (for budgeting and saving) if you opt for one of the premium plans.

N26 top-up methods

At N26, you can use the following top-up methods:

SEPA Bank transfers, credit/debit cards, N26 Cash (cash at participating retailers in some countries). You can also receive a money transfer from your friends who also use N26, via MoneyBeam.

N26 offers a range of features similar to your high street bank:

• You can see your spending categorized by the type of transaction (e.g. shopping, restaurants).
• You can send money to other N26 users instantly and for free (using MoneyBeam). You can also send a money request to another user.
• These savings can also be stored separately for easier overview and management.
• You can earn interest after your savings (in some countries).
• Setting up or cancelling direct debits is quick and easy with N26.
• Overdrafts are possible in AT and DE.
• You can set up Apple Pay or Google Pay.
• 3D Secure online payments are supported.

In some aspects, N26 lacks some features that are common for its competitors, e.g. joint accounts are not available.

You can use N26 through your mobile app and it is also available on a desktop computer as a website. N26 also has several additional features:

• Personal loans (in some countries)
• Phone insurance (if you have the Metal Plan that costs €16.90 per month)
• Travel insurance (for most premium plans N26 offers)

You can contact N26 only via chat, email and phone, but it is rather slow. 

Once it took us 50 minutes to reach customer service thorugh live chat. Via email it also took more days to get an answer. 

The phone is only available trough the live chat, where you have to ask for a callback.