n26

N26 bank review January 2019

N26 is a digital-only German challenger bank that’s arrived in the UK. Does it offer anything different? Here’s what you need to know.

N26 calls itself a bank account for real people; it offers everything you can do with a traditional bank, but N26 says it will be easier, and from anywhere.

The bank officially launched in the UK in November 2018 after carrying out early trials of its app. We’ve highlighted the key features of N26, to help you decide whether it’s the option for you.

What is N26?

N26 offers a digital-only current account with a modern banking app that gives you spending insights and lets you control your finances, all on your phone.

N26 is already operating in Ireland, France, Germany, Italy, Spain, Austria, Belgium and a wide range of other European countries. It’s now in the UK and has plans to establish itself in the US, too.

Download N26 now for free

Use the button below and set up your account in minutes.

  • Take control of your finances with one app
  • Manage everything directly in the N26 app
  • Set payment limits; change your PIN; lock and unlock your card
  • Make no-fee transactions anywhere in the world

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Video: Alex Weber, head of international markets, on why N26 is different

How does N26 work?

When you sign up with N26 you will be sent a contactless Mastercard.

You can’t currently sign up for the premium N26 card in the UK. However, the N26 app has many of the same basic account features. See our analysis below for more.

In-app features include:

  • Make transfers. Send, receive and even request money from friends instantly.
  • Google Pay. N26 supports Google Pay, so you can use your phone to make payments in stores, and also use Google Pay to make purchases online.
  • International transfers. By partnering with TransferWise, N26 supports international transfers into 19 foreign currencies directly within the app. It claims to be six times cheaper than using traditional banks.
  • In-app security. Set and change daily spend/withdrawal limits, reset your PIN, lock or unlock your card and enable or disable online or foreign payments.
  • Spending statistics. Get automatic categorisation and breakdowns of your purchases. You can also create your own personal tags to organise your transactions.
  • Spaces. Saving up for a particular goal, like a bike or a holiday? Put money into small sub-accounts away from your main spending pot. Like they say – out of sight, out of mind.
  • MoneyBeam. Lets you send money to smartphone contacts, without even knowing their bank account details. Money is sent to fellow N26 users instantly, or within two days if they’re not with N26.
  • UK account number and sort code (only supported in the UK). You’ll be able to set up direct debits and receive and make payments the way you would with a traditional bank like Barclays or Lloyds.

How does the app look?

Using N26 abroad

Cash withdrawals in pounds are free of charge. For ATM withdrawals in other currencies, N26 makes a surcharge of 1.7% of the withdrawal.

You can avoid this fee if you pay for an item with your Mastercard. There is no fee for making purchases in foreign currency.

In addition to this, N26 has partnered with Transferwise, which makes transfers into European currencies seamless.

N26 fees and limits

N26 does have some rates and charges that you should be aware of.

  • UK customers get fee-free cash withdrawals, up to the daily limit of £2,500.
  • If you make foreign cash withdrawals with your debit card, you’ll be charged 1.7% of the amount taken out.
  • The maximum daily limit for in-store or online payments is £5,000.
  • The maximum monthly limit on card payments is £20,000.

Is N26 safe?

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.

Pros and cons of N26

Pros

  • Easy to manage and track your spending real time
  • Your account can be accessed on your phone or via N26’s web app
  • In-app security features such as card lock/unlock
  • All payments, both national and international, completed within one working day
  • Fee-free card transactions abroad
  • Safe and secure.
  • Partnership with TransferWise means seamless transfers from Euros to 19 currencies
  • MoneyBeam lets you transfer money to friends and family instantly
  • Unlimited cash withdrawals in GBP

Cons

  • 1.7% surcharge for foreign currency withdrawals, although this is competitive with other European banks
  • No bank branches so not for you if you like face-to-face service

Compare N26 against its competitors

Updated January 24th, 2019
Name Product Fees and charges Delivery speed
N26
Free
5-7 working days
Free with finder.com, otherwise card delivery is £4.99
Up to 9 working days
Free
Between 3-5 working days
None
Between 3-5 business days

Compare up to 4 providers

Updated January 24th, 2019
Name Product Foreign ATM withdrawals ATM withdrawal limit Foreign transactions fee Card cost Delivery speed
N26
ATM fees differ depending on country
€2 after exceeding free withdrawal limit
No fees
Free
5-7 working days
App-based bank account that can be used on the go in any EU country. All about the ease of sending and saving money.
No ATM fees
£200 per month. Anything more is charged at 2% of value of withdrawal.
No fees
Free with finder.com, otherwise card delivery is £4.99
Up to 9 working days
App-based current account with loads of extra features. (e.g. Real time transactions, payment categorisation, save spare change, free international money transfers, buy cryptocurrency)
No ATM fees
£300 per day. Maximum of 6 withdrawals per day.
No fees
Free
Between 3-5 working days
Everything you get from a current account, but with new features for mobile living. (E.g. Goals for saving, spending catgorisation, interest on your balances)
€1 per withdrawal
£300 per day
2% on card spend and ATM usage
Card delivery is free
Between 3-5 business days
A multi-currency mobile banking app that aims to be ‘built around you’. Use it to open a fully functional current account instantly, straight from your phone, all supported by a feature-rich mobile app

Compare up to 4 providers

Updated January 24th, 2019
Name Product Fees and charges Interest Savings goals
N26
Free
up to 1.48%
n26 'Spaces' feature lets the user open sub-accounts to stash your money away
Free with finder.com, otherwise card delivery is £4.99
No interest
Set budgets in the app
Free
0.5% AER up to £2,000, 0.25% over £2,000 to £85,000
Create up to 10 different spending goals and protect money from daily spending
None
No interest
Not a feature

Compare up to 4 providers

Updated January 24th, 2019
Name Product Direct debits UK ATMs Payments Freeze your card CASS
N26
Yes
Free
Use MoneyBeam to transfer money instantly. Is partnered with Transferwise so can send money to 16 countries.
Yes: touch of a button in app
No
App-based bank account that can be used on the go in any EU country. All about the ease of sending and saving money.
Revolut currently only supports direct debits with the Euro IBAN account
Free up to £200 a month
Easy UK payments and can transfer money between 23 countries
Yes: touch of a button in app
No
App-based current account with loads of extra features. (e.g. Real time transactions, payment categorisation, save spare change, free international money transfers, buy cryptocurrency)
Yes
Free
Pay via bank transfer. Can't pay into paypal currently.
Yes: touch of a button in app
Yes
Everything you get from a current account, but with new features for mobile living. (E.g. Goals for saving, spending catgorisation, interest on your balances)
Yes - can cancel with touch of a button too
£1 per withdrawal
Pay via bank transfer, easier to send to another Monese account.
Report lost/stolen in app to be sent replacement
No
A multi-currency mobile banking app that aims to be ‘built around you’. Use it to open a fully functional current account instantly, straight from your phone, all supported by a feature-rich mobile app

Compare up to 4 providers

Frequently asked questions

Digital banking deals

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Revolut Revolut
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Starling voted best British bank & current account

Monese Monese
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Download the Monese app and get your free card

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20 Responses

  1. Default Gravatar
    PeterJanuary 7, 2019

    Why can I not login my account via the web address? My app works fine but I can not login anymore on my computer? Please can you tell me what I do wrong?

    • finder Customer Care
      JhezelynJanuary 8, 2019Staff

      Hi Peter,

      Thank you for your comment.

      There might be several reasons as to why you’re unable to log in to your N26 account into the computer. Since you mentioned that you’re able to log in through the app, it means there’s nothing wrong with your account access, but with your computer. You may try using a different browser, or go incognito and try to access your account. It’s also possible that there is some antivirus blocking the website.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  2. Default Gravatar
    CediquaDecember 15, 2018

    I just made an account today and the app is working, however, my mum has Barclays Bank account and she transferred me £10 into this account and it’s been 2 hours and I have not received when will I receive it. Please get back to me as soon as you can. Thank you!

    • finder Customer Care
      JoshuaDecember 17, 2018Staff

      Hi Cediqua,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Transferring money from a bank account to N26 can take up to one business day. If after one day and you still haven’t got your money, you might want to directly get in touch with N26’s customer support.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  3. Default Gravatar
    JadeDecember 5, 2018

    Can international wire transfer be sent from US banks into my N26 account, and how long will it take to reflect in my account in Italy if yes?

    • finder Customer Care
      JoshuaDecember 11, 2018Staff

      Hi Jade,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Upon checking, it is not possible to send money from a US bank to your N26 account. As of now, transfers can only be done within European regions.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  4. Default Gravatar
    MychalOctober 15, 2018

    How long does it take before funds are available once my direct deposit from my salary is paid? Thank you.

    • finder Customer Care
      JhezelynOctober 15, 2018Staff

      Hello Mychal,

      Thank you for your comment.

      Please note that N26 transfer transactions are completed within one banking day. However, due to the opening times of the participating banks, one banking day may stretch to two working days.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  5. Default Gravatar
    KarinOctober 12, 2018

    What is the Swift/BIC code for paying to N26 bank?

    • finder Customer Care
      JhezelynOctober 12, 2018Staff

      Hello Karin,

      Thank you for your comment.

      SWIFT/BIC code for N26 BANK GMBH, UK BRANCH is NTSBGB21 plus the XXX which is the bank code. You should verify the bank code from your financial institution.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  6. Default Gravatar
    PeteOctober 4, 2018

    I understand there is a fee for deposits over a certain amount. Does this apply to my salary being deposited by my employer?

    • finder Customer Care
      JhezelynOctober 8, 2018Staff

      Hello Pete,

      Thank you for your comment.

      Upon checking, N26 doesn’t charge any fees to receive transfers or salary payments, so you will receive 100% of whatever amount your employer sends.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  7. Default Gravatar
    DebendraOctober 2, 2018

    How much bank commission do you charge for fund transfer from my account Tangerine Canada to my brothers N26 Bank in Germany?

    • finder Customer Care
      johnbasanesOctober 4, 2018Staff

      Hi Debendra,

      Thank you for leaving a question.

      Looking into Tangerine’s website for rates and fees, transfers to other financial institutions has a fee of $45 associated with it. Hope this helps!

      Cheers,
      Reggie

  8. Default Gravatar
    DanieleSeptember 27, 2018

    How much i will pay for any atm withdrawals after the first 5, i have the transparent n26 card, 2€ or 2.90€?

    • finder Customer Care
      CharisseSeptember 27, 2018Staff

      Hi Daniele,

      Thanks for reaching out to finder.

      There is a €2 fee for any additional withdrawal beyond the 5 free ATM withdrawals per month however, other ATMs may come with their own fees which N26 has no control of. You’ll be informed how much that fee is before the end of the withdrawal transaction which you have also an option of cancelling if you don’t want to pay such amount.

      For foreign currency ATM withdrawals on N26 accounts, a fee of 1.7% of the withdrawal amount will be applied but is waived for N26 Black or N26 Metal members.

      If you are using N26 Maestro card, there is a €2 fee for both domestic or international withdrawals as this card is only available in Germany, Austria, or the Netherlands.

      If you need further assistance, you can contact N26 directly. Hope this helps.

      Cheers,
      Charisse

  9. Default Gravatar
    JulesSeptember 24, 2018

    Can a UK based customer have an account in Euros ?

    • finder Customer Care
      joelmarceloSeptember 25, 2018Staff

      Hi Jules,

      Thanks for leaving a question on finder.

      Not right now but it is already in the pipeline as per N26. Along with UK, USA will also be able to use N26 this year.

      Please send me a message if you need anything else. :)

      Cheers,
      Joel

  10. Default Gravatar
    MakisAugust 11, 2018

    Hello,
    • N26 is a credit card or a bank account?
    • Shall I have an IBAN and if so can my employer transfer my salary?
    • Is there any connection with greek authorities such as tax dept?

    Regards,
    Makis

    • finder Customer Care
      CharisseAugust 18, 2018Staff

      Hi Makis,

      Thank you for reaching out to finder.

      To answer your questions about N26:

      -N26 is a fully licensed digital or mobile bank which allows you to manage your finances from your Smartphone.
      -Yes. When you open your N26 account, you will receive an IBAN that uniquely and fully identifies your current account.
      -N26 doesn’t have any specific connection to Greek authorities. However, customers residing in Greece may need to declare their taxes from their account with N26.

      I hope this helps. If any other questions arise, please feel free to contact us at any time

      Cheers,
      Charisse

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