Finder expert rating
Like most challengers, it’s good for people who are looking for a fresh, mobile first approach to banking.
We’ve highlighted the key features, pros and cons of N26, to help you decide whether it’s the option for you.
N26 is a digital-only current account, with a modern banking app that shows spending insights and gives you control your finances.
N26 is already operating in Ireland, France, Germany, Italy, Spain, Austria, Belgium and a wide range of other European countries. It has more than 3 million customers and has recently launched in the US, too.
When you sign up with N26 you will be sent a cool, clear, contactless Mastercard.
The three of them all operate on the same app, whose features include:
N26 does have some rates and limits that you should be aware of.
Travelling with N26 is cheaper than using most cards from traditional banks, as it doesn’t charge any fees for foreign currency transactions.
However, while cash withdrawals in pounds are free of charge, for ATM withdrawals in other currencies, N26 makes a surcharge of 1.7% of the withdrawal.
Also, be aware that at the moment N26 does not support international money transfers. You can only send and receive money from other UK accounts.
Every N26 bank account has deposit protection: the compensation scheme of German banks guarantees up to €100,000 (about £85,000 – the same amount as the UK equivalent scheme).
N26 also offers a Bug Bounty programme. This means cash rewards to encourage security researchers to track down bugs or vulnerabilities.
The app itself has a three-tier security procedure protecting your account and transactions. Your account can only be paired to one smartphone at a time, you must log in to your account using your password or fingerprint, and you must verify all online and offline transactions with your PIN.
If compared to traditional banks, N26 is really competitive, especially for travelling abroad. You can use your card anywhere without being charged any fees, apply quickly online and enjoy a really slick banking app that’s packed with features.
However, it’s not the only challenger bank offering this in the UK. When looking at direct competitors such as Starling and Revolut, it’s still a bit behind because it offers less features and charges for foreign ATM withdrawals. Still, it offers a solid deal and hasn’t been in the UK long, so watch this space.
Get N26 the new bank you'll love to use
Manage everything directly in the N26 app. Set payment limits, change your PIN number and lock and unlock your card. All in real-time.
Free card worth £5 from Revolut
Click the button and enter your number to receive a free Revolut card.
Starling voted best British bank & current account
No branches, no fees, no paperwork. Get a smarter kind of bank account with the Best British Bank 2018 – all in under 3 minutes!
Download the Monese app and get your free card
Click the button to head to the app store, download the app, and your Monese card will be sent in the post.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our team evaluates banking apps to determine their value against similar products on the market.
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