N26 vs Monese

N26 and Monese are two big names for easy money management, but how do they compare?

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In recent years, finance apps like N26 and Monese have torn up the script of traditional banking. In doing so, banks have been brought into the smartphone age.

Established banks have struggled to keep up when it comes to offering customers slick, easy-to-use apps, while their online banking processes are often unfriendly to customers. Meanwhile, digital banks such as N26 and finance apps such as Monese have increased their customer base by offering fast transactions, fee-free spending abroad and more.

Let’s take a closer look at them so you can decide which is right for you.

A quick review: N26 and Monese

N26, originally called Number 26, was founded in February 2013 and is currently headquartered in Berlin. While it’s run out of Germany, it’s available in a number of countries throughout Europe as well as the UK and has recently launched in the US. N26 currently offers a number of personal and business bank account options as well as an app and cards.

Monese was launched in 2015 as an “inclusive, instant and on-demand” account. You can open a UK account and manage it on your smartphone as long as you live in the European Economic Area or the UK. You don’t need to provide a UK address to get an account. Once you’re signed up you will receive a debit card to access your money. The app offers a number of features including tools for budgeting and financial insights, international transfers into eight currencies at rates up to eight times less than the banks and various security features. With Monese, you can pick between its Simple, Classic and Premium accounts.

N26 vs Monese in Germany

FeatureN26Monese
Monthly fees
  • N26 Bank Account: €0
  • N26 You: €9.90
  • N26 Metal: €16.90
  • Monese Simple: €0
  • Monese Classic: €5.95
  • Monese Premium: €14.95
Card deliveryUp to 10 working daysUp to 3 working days
PaymentsUse MoneyBeam to transfer money instantly. N26 is partnered with TransferWise, so can send money to 16 countriesSend money to 30 countries, including 18 currencies
ATM withdrawals
  • 5 withdrawals per month for free in the Eurozone, €2 fee per withdrawal after
  • Free withdrawals at ATMs in other currencies for N26 You and Metal, €1.70 charge for N26 Bank account holders
  • Monese Simple: €200 per month after which a 2% fee applies
  • Monese Classic: €900 per month
  • Monese Premium: Unlimited
Spending insightsPULSE26 analytics offers insights like the restaurant you visit most. Monthly reports help understand your spending habitsMonese’s Spending Overview area shows your current spending breakdown, plus, outgoings in previous months
Banking licenceYesNo – but deposits are held safe in a segregated account at major banks
Categories20+ categories15
Top Up Via bank transferIBAN required and details neededLink your account with another debit card, through a SEPA credit transfer or a SWIFT payment
Freeze your cardYes: touch of a button in appYes: touch of a button in app
AlertsAlerts for withdrawing money and payingInstant notifications on spending and top-ups
InterestNoneNone
Savings GoalsN26 ‘Spaces’ feature lets you open sub-accounts to stash your money awayMonese ‘Pots’ lets you put money aside, separated from your daily spending
Look and feelMonthly spending statistics shown in pie chartSimple design with transactions prominent
Foreign ATM withdrawals
  • N26 Bank Account:€1.70 of the amount drawn
  • N26 You: €0
  • N26 Metal: €0
  • Monese Simple:
  • Monese Classic: €0
  • Monese Premium: €0
Foreign transactions fee
  • No fees
  • Monese Simple: €2,000 per month after which a 2% fee applies
  • Monese Classic: €2,000 per month
  • Monese Premium: Unlimited
Direct debitsYesYes
Apple and Google PayYesYes
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N26 vs Monese: The verdict

If the contest between N26 and Monese were a sporting one we might call it a draw. Both apps have similar features that aid seamless financial management: from clear transaction categories, to the ability to freeze your car instantly if you lose it. Monese calls its savings feature ‘Pots’, while N26 refers to their one as ‘Spaces’. But they’re basically the same thing; sub-accounts within your main account where you can keep money for a rainy day.

N26 benefits from being a German-based company. Additionally, it’s rolled out a line of credit feature for German users which could be an interesting benefit for individuals with poor SCHUFA scores who can’t access credit from banks. Meanwhile, Monese has market-leading features, including a virtual card which gives you an extra layer of security as you shop online. Late in 2019, they added a joint account to their armoury.

Compare N26 and Monese with other digital banks in Germany

Data indicated here is updated regularly
Name Product Monthly fee Card delivery Supported currencies
Comdirect Bank Current Account
€0
N/A
EUR
A free current account with no minimum incoming funds. Includes a free Visa credit card and free cash withdrawals worldwide.
Norisbank free current account
€0
5-7 working days
EUR

Receive €100 starting credit for a limited time*

Benefit from a €0 account fee, free Maestro card and free cash withdrawals from thousands of locations worldwide.
N26 Bank Account
€0
Up to 10 working days
EUR
Benefit from no monthly fee, no currency conversion fees and a raft of in-app budgeting features to help you save.
Tomorrow
€0
3-5 business days
EUR
A free Visa debit card with free transactions across the globe and 3 withdrawals per month for free.
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Data indicated here is updated regularly
Name Product Monthly fee Card delivery Supported currencies
Fidor Smart Current Account
€5
N/A
EUR
A mobile current account with real-time notifications on your transactions. Includes a digital Mastercard with mobile payment and a Smart Banking app.
N26 You
€9.90
Up to 10 working days
EUR
A smart IBAN account with no currency conversion fees, complimentary insurances and no ATM fees here or abroad.
Tomorrow Zero
€15
3-5 business days
EUR
A free Visa debit card with free transactions across the globe and unlimited free ATM withdrawals per month
TARGOBANK Online-Account
€3.95
N/A
EUR
An online current account that comes with a Visa credit card. Free online transfers and free cash withdrawals at more than 3,000 ATMs.
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Data indicated here is updated regularly
Name Product Monthly fee Card delivery Supported currencies
bunq Travel card
€0
Up to working 10 days
EUR
A no monthly-fee card that lets you travel and spend globally using the real exchange rate. Security controls and simple payments.
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Please note these products are not licenced as banks. Check our product review pages for details.
Data indicated here is updated regularly
Name Product Monthly fee Card delivery Supported currencies
Holvi Starter
€0
Up to 10 business days
EUR
An online account ideal for new businesses with €0 monthly fees and unlimited SEPA transfers. Includes a Holvi Business debit Mastercard.
VIABUY Prepaid Mastercard
VIABUY Prepaid Mastercard
€1.65
3-5 business days
EUR
VIABUY Prepaid Mastercard comes with no line of credit and it does not require credit checks.
Holvi Grower
€12
Up to 10 business days
EUR
A full online business account with unlimited SEPA transfers, unlimited invoicing and up to three Holvi Business Debit Mastercards.
Revolut Standard
€0
Up to 9 working days
GBP,SEK,PLN,CHF,DKK,NOK,USD,CZK,CAD,AUD,RON,EUR
Enjoy no monthly fee, no currency conversion fees up to €1,000 per month and the ability to hold over 15 currencies in your account.
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