★★★★★
★★★★★
EU-based digital bank N26 no longer offers bank accounts in the UK – it announced in February 2020 that it would stop operating here due the UK’s decision to leave the EU. If you are looking for a digital current account, read our guide outlining alternatives to N26.
On 11 February 2020, N26 issued the following statement: “With the UK having left the EU, we will in due course be unable to operate in the UK with our EU banking licence, so we will be leaving the UK and closing all accounts. We’ve made careful plans to support customers, and we are sorry to have to leave.”
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 launched in the UK in November 2018, entering the market to compete with British-born Monzo and Starling, as well as Revolut.
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.
N26 offers a free basic current account, plus two premium options that are now also available in the UK. Read our reviews of N26 You and N26 Metal to find out more about them.
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.
Pros
Cons
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 no longer operating in the UK. For a UK-based digital bank check out the likes of Starling.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our team evaluates banking apps to determine their value against similar products on the market.
Curve Black offers all the benefits of Curve, plus a decent series of perks. Our review looks at how it works, how much it costs and who it’s suitable for.
Challenger bank Monzo now offers business banking. Check out what accounts it provides and whether they could be the right business banking solution for you.
Just got a job in the UK and need a bank account to have your salary paid into, but have no proof of address? Here’s what you can do.
Can cryptocurrency be used to build a peer-to-peer bank for everyone? BABB is certainly trying, so we took a look at how it’s supposed to work.
You can earn interests on your savings with both Atom Bank and Monzo. Our review helps you figure out which challenger does it in a way that works for you.
Planning a trip abroad? Make sure you have a travel money card and app set up and ready to use abroad. Check out our guide to find the best one for you!
Glint lets customers buy, save and spend real gold. We explain how the app works in more detail, and give you some of our impressions.
Fed up with the hassle of using multiple bank cards? Curve helps you connect all your accounts to a single app and payment card.
Is Tuxedo the right solution for you? We explore the account and all of the features of Tuxedo’s prepaid cards. Read our review to get the low down on Tuxedo.
Looking for a digital-only bank account? We explore the app and all of the fees and features that come with a Pockit online current account.
Eligibility asks for a smartphone, I own one but prefer to do banking on a larger screen on a tablet which I tend to have on me most of the time – can I still apply for an account and use the app on a wifi tablet or is the mobile phone line absolutely necessary?
Hi dwl321,
Thanks for contacting Finder.
In order to use your N26 account, you need a smartphone : either an iPhone (5s or newer, at least iOS 11) or an Android (6.0 or newer). Only one device can be connected per account.
If you want use your table, you need to directly contact N26 for further instructions.
I hope that helps.
Kind Regards,
Faye
I want to make a very large amount of money from an heritage how much would I be able to deposit into my account
Hi Steve,
Thanks for getting in touch with Finder! You can deposit any amount on your N26 account N26 doesn’t charge any fees to receive transfers or salary payments, so you will receive 100% of whatever amount your sender transfers.
Hope this helps!
Best,
Nikki
Is there a monthly fee for a basic account?
Hi Tracy-ann,
Thank you for reaching out to Finder.
An n26 basic account is free of charge to set up and no monthly fees. Hope this helps!
Cheers,
Reggie
What happens about the information of mine you receive if I’m declined to open an account?
Hi Courtney,
Thank you for reaching out to Finder.
If you are asking about the personal information you provided N26 when you applied to open an account with them, it would be best to speak with them directly as to how they handle these information. Hope this helps!
Cheers,
Reggie
Is this just like any ordinary bank account? Is there a monthly charge for this card?
Hi Kendacie,
Thanks for getting in touch with Finder. I hope all is well with you. :)
N26 is a bank but it is different from other banks because it comes with other features. For example, N26 is a digital-only current account that comes with banking mobile app. For this reason, you won’t be seeing a physical bank for N26 but rather all your transactions would take place in your app.
Upon checking, there’s no mention of any monthly charge. However, N26 makes a surcharge of 1.7% of withdrawals made with non-pound currencies.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua