What is N26? N26 is a great alternative to the traditional banking experience, for that is exactly their vision: to adapt banking to our modern age, that should be mobile and flexible, a bank representative for the 21st century. N26 is the world's first 100% online bank. This means that everything takes place online in this bank - and it is precisely this that has made N26 popular all over the world.
N26 was established in 2013 by longtime friends Maximilian Tayenthal and Valentin Stalf. Since the initial launch, N26 has extended their services to no less than 25 countries, thus advising more than 7 million customers on their private finances. Their team consists of more than 1,500 people of 80 nationalities. N26 has offices in Berlin, Madrid, Barcelona, Vienna, Milan, Paris, Sao Paulo, and New York.
N26 is a fully digital bank with a global vision to change money for the better. In 2017 the company introduced N26 Metal, which is a premium account that offers benefits to fit any and every lifestyle. Apart from Personal account, N26 also offers Business accounts.
With N26 you always have the full banking experience in your pocket. The goal of N26 is to be a bank that is as flexible and mobile as you, and they work hard for that. This means that their solutions are being constantly updated, depending on how we, humans, use and live with the technology.
The key point at the N26 is that you need to be able to walk in the bank your way. That is why N26 also focuses on being simple and transparent - and especially the simple is reflected in the possibilities you find at N26.
In order to open a standard N26 account you have to meet certain eligibility criteria, such as:
If all conditions are met, you only have to download the N26 mobile app or access the N26 website and follow the indicated steps. There is no need for any paperwork, an official ID is sufficient, because of that, opening the bank account only takes a few minutes.
N26 is as safe as any other physical bank. The bank is supervised by the Financial Markets Regulator and follows all EU regulations, which also means that if N26 should go bankrupt, you will be covered up to approx. €100,000, just as you would be in a traditional bank. Safety and security are thus far from a scarce commodity.
Online purchases are backed up by Mastercard 3D Secure and an advanced two-factor authentication. Access to the banking account is secured by biometric identification (fingerprint or Face ID). Customers also have the possibility to enable instant push notification for all account activity.
The personal account can be found in four versions:
The business account comes in the same four versions: Free, Smart, You and Metal.
The sub-account Spaces are a unique feature, which offers the possibility to budget, organize and save money. Shared spaces are those that can be shared with up to 10 other N26 users, and everyone can add funds when they want or have the possibility. In N26 Spaces you can also set up Rules – which are basically recurring payments, to make sure you reach the goals of your sub-account and do not skip transfers.
N26 has received over 15,000 reviews on the popular review’s platform Trustpilot and has an average of 3.9 stars out of 5. The N26 mobile app has the same number of stars on Google Play and 4.6 stars on Apple Play. This tells us that products and services of this digital bank are very valued. They are appreciated for the accounts’ accessibility, affordability, interesting features and customer support.
Answers to most questions can be found in their FAQ section, which is nicely categorized, however, customers also have the possibility to get in contact with a N26 operator via e-mail, phone or via the mobile app chat support.