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N26 Bank Review 2020 [All You Need To Know] 

Vincent Nyoike
Vincent Nyoike Banking

N26 is an online and mobile bank founded in 2013. It was formerly known as Number 26 before rebranding to N26 in 2016. It has its headquarters in Berlin, Germany. It operates both in Europe and the United States. N26 Bank can help you to save, spend and manage your money. It is a good bank for people who want to enjoy modern banking.

Read also: TransferWise Review. 

What You Need to Know about N26

N26 is an online bank that is an alternative to traditional banks that eliminate costs and paperwork. You can use N26 for business use and personal use. 

  1. For personal use. You can manage your account using the app to send money instantly, request money, set withdrawal limits, and track your spending.
  2. For business use. You can get an N26 business account for your business if you are a freelancer or self-employed. With the N26 business account, you get 0.1% cash back for your purchases and free payments worldwide using a card. You also get business MasterCard, travel insurance, online invoicing and currency exchange at mid-market rates.

This review will provide details you need to know about features, positive and negative sides of N26.

N26 Bank Features

N26 Bank comes with a set of features for their customers. They include the following.

1. N26 Checking Account

N26 Bank provides checking accounts. With a basic checking account, you can make domestic ATM withdrawals at $2, and foreign ATM withdrawals at $2 and 2%. To replace a debit card, you need to pay $5.

2. N26 App

The N26 app has awesome features that come with a budgeting feature. You can categorize your expenses for easier management. You can access N26 customer service through the mobile app, phone call or email in real-time.

3. N26 Savings Account

N26 Bank offers a savings account. However, your money will not earn interest. If you wish to get interest through the online bank, you can use Barclays Online Savings Account. The account does not have monthly maintenance fees and you do not need to maintain a minimum balance.

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4. N26 Debit Card

Whenever you open N26 mobile bank, you get access to free MasterCard. However, you can also request Maestro Card. You can use the N26 mobile app to lock and unlock your debit card or reset your pin. You can also set daily limits to manage your spending while anywhere in the world. You can use the debit card for instant top-ups to your account. 

5. N26 Security Features

N26 online bank is integrated with high authentication and security features. The account is 3D secure, adding extra protection to your money to prevent online frauds. Instead of using a password, you can secure your account using fingerprints.

Whenever there is a transaction using the mobile app, ATM withdrawals, debits, and cards, you will immediately get a push notification. If you lose your MasterCard, you can lock the card and reorder a new one using the app.

Rad also: WorldRemit Review. 

6. N26 Customer Service

You can access dedicated customer support by signing up for N26 Metal for 16.90 euros every month. However, through online reviews, a majority of people have complained about slow card dispatch and blocked accounts.

How to Sign Up for N26 Online Banking

To get N26 mobile banking, you need to download the app, fill in details and then accept terms and conditions. Once you are done, you can order your card. The following are the requirements for opening an N26 bank account.

  • At least 18 years of age
  • Have a Smartphone
  • Be a resident in any of N26 supported countries.
  • Hold a supported ID
  • Ability to verify your details using English, Spanish, German, French or Italian.

You need to verify your email, address and personal details. You then need to proceed to connect your account to your Smartphone. You will receive the N26 MasterCard after a few days through the post. You can top up your account using MasterCard or Bank transfer.

Read also: Revolut Review. 

N26 Fees

To open the N26 account is free and you can access services through a mobile app or the web. The following are the payment plans and their benefits.

  • Basic account. The basic account is free and comes with free ATM withdrawals in euros. You can also access free payments using any currency.
  • N26 You for 9.90 euros per month. You get free ATM withdrawals in any currency while anywhere in the world. N26 also provides an insurance package for this option.
  • N26 Metal for 16.90 euros monthly. You can access specialized customer support, travel insurance, free card payments in any currency. You can also access free ATM withdrawals worldwide and LoungeKey membership.

All currency withdrawals apart from GBP attract a fee of 1.7% using MasterCard. However, it is free if you are using N26 You and Metal and all cashless payments using MasterCard are free worldwide. 

N26 has partnered with TransferWise for currency transfers. You can make cash transfers in 19 currencies using N26. You don't have to inform the bank to make international payments since you can initiate payments using the app. You also get up to five free ATM withdrawals every month. With N26 MasterCard, you can make withdrawals from Euros from ATM anywhere in the world.

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