N26 Business review
What you need to know about the popular digital banking app in Germany.
N26 was one of the first in Europe to provide a digital banking service in which everything can be managed via your mobile phone. Today, businesses around the world use N26 for fast payments, budgeting tools and more.
Number of users
Local transfers limit
N26 is one of the most popular digital banks in the world — but is a business account with N26 the best option for your company? This review looks at the key features, and costs, of N26’s business accounts to make the process of comparing that a little bit easier for you.
How does N26 work?
N26 is a German digital bank, founded in 2013 and currently headquartered in Berlin. It’s available in a number of countries throughout Europe and has an estimated 2.5 million customers across the continent.
N26 currently offers a number of personal and business bank account options, the N26 app and cards.
- Minimal fees. There are no fees for account opening, foreign currency purchases or overseas transactions.
- No minimum deposit. All N26 business accounts don’t require a minimum deposit
- Free virtual debit card. Start using your account as soon as you opened it with a free virtual debit card. Physical N26 business cards are also available at a one-time 10 € delivery fee.
- Cashback. Earn 0.1% cashback on all expenses charged to your N26 Business Mastercard per month.
- Mobile payments. N26 cards are compatible with Apple Pay and Google Pay
- Fast payments. All payments are cleared within one working day.
- Advanced security features. The N26 card is equipped with 3D Secure, as well as a card freeze or unfreeze function on the app.
- Budgeting tools. Manage your cash flow easily with the app’s in-built budgeting and planning tools.
- Interbank exchange rates. Choose from a vast selection of currencies and make international transfers at the real market exchange rate with Wise, available within the N26 app.
- Push notifications. Keep track of any account activities with instant alerts.
- Round-the-clock support. N26 has a 24/7 chatbot that can answer your enquiries either through the N26 mobile or web app.
What are the N26 account options for businesses?
There are four business accounts offered by this online-only bank: N26 Business, N26 Business Smart, N26 Business You and N26 Business Metal. These accounts are aimed specifically at freelancers and the self-employed – your account can only be registered in your name, not your company.
Fees and limits
There are a few different costs, fees and limits to consider when you choose a business account with N26.
We’ve listed some of the most important fees that you should consider in this table. For a complete list of the fees, visit the N26 website.
|N26 Business Metal||N26 Business You||N26 Business Smart||N26 Business Standard|
|Monthly maintenance fee||€16.90||€9.90||€4.90||€0|
|Deposit fee (for balances > €50,000||0.5%||0.5%||0.5%||0.5%|
|Physical/Maestro card and delivery fee||10 €||10 €||10 €||10 €|
|Additional or replacement debit card||10 €||10 €||10 €||10 €|
|Replacement N26 Metal card||€45||N/A||N/A||N/A|
|ATM withdrawals (within Germany)||8 withdrawals per month, €2 per withdrawal thereafter||5 withdrawals per month, €2 per withdrawal thereafter||5 free ATM withdrawals per month, €2 per withdrawal thereafter||3 free ATM withdrawals per month, €2 per withdrawal thereafter|
|ATM withdrawals (outside Germany)||Free||Free||Free||Free|
|Mastercard withdrawals at ATMs in foreign currencies||Free||Free||1.7% of amount drawn||1.70% of amount drawn|
|Maestro card withdrawals at overseas ATMs in EUR||€2 per withdrawal||€2 per withdrawal||€2 per withdrawal||€2 per withdrawal|
|Maestro card withdrawals at ATMs worldwide in foreign currencies||€2 per withdrawal + 1.7% of amount drawn||€2 per withdrawal + 1.7% of amount drawn||€2 per withdrawal + 1.7% of amount drawn||€2 per withdrawal + 1.7% of amount drawn|
|Transfers sent/received from EEA states and Switzerland in EUR||Free||Free||Free||Free|
How to sign up with N26
Opening a business account with N26 can take just eight minutes, according to the bank.
The paperless application process can be started from either your phone or computer. After confirming your email address and downloading the app to your smartphone, you’ll have to complete an ID verification. This is done by taking a selfie and a photo of your ID through the app. You’ll then have to pair your smartphone with your new account. After these steps, you’ll be able to add funds to your new business account.
You can then start using your account immediately, there’s no need to wait for your card to arrive in the post.
N26 stands out against other digital banks in Germany is with its offer of 0.1% cashback on purchases. This might not sound like much, but it can add up quickly, especially if your company has a lot of outgoings a lot each month.
For example, you’d get €100 in your company’s coffers for each €10,000 you spend. N26’s business accounts have lots of other things going for them; including its easy-to-use app with handy features that can help you stay on top of your finances.
However, it’s a good idea to look into a range of different accounts, including all their benefits and costs, before settling on one that meets the needs of your business.
N26 is a reputable digital bank that offers a range of business banking accounts to fit varying business needs. If having quick business banking at the tips of your fingers is something that matters to you, then N26 might have the right account for your company.
Experiences from other N26 users
N26 scores 4 over 5 based on 15,000+ reviews and is rated Great on Trustpilot.
|User ratings||# of reviews||What do customers say|
|4 / 5||15,051|
*Note: Information provided is based on the reviews and rating on Trustpilot (11 May 2021).