Fintech banking platforms are quickly becoming chosen options among users, considering they’re easily accessible and have a whole lot of features like any regular bank. Among these banks is N26, which is a mobile banking platform offering an Axos-backed checking account. 

    Moreover, the platform also has other features, such as ATM withdrawals, that make it a suitable option for people who’re always on the go. By 2020, over five million people were using N26, so we had to take it upon ourselves to determine if it’s really worth the hype. 

    In this N26 review, we’ve dissected the platform’s features, discussing the advantages along with the shortcomings. 

    What Is N26?

    N26 is an online banking platform that has been designed for digital nomads, millennial users, and people who travel a lot for work or leisure. It was launched in 2015 in Berlin, and its users have now expanded to other countries. 

    The platform has marketed itself as an alternative to conventional banks, especially for users who’re self-employed. Currently, the bank’s services are available in most European countries and the US. 

    Who Is N26 For?

    Considering the platform’s features, N26 is ideal for people who travel frequently or are self-employed. Moreover, it’s suitable for users who might want to get discounts and cashback while using their debit card. 

    On the other hand, the card can also be enjoyed by regular users who might want to use it to save money for something, such as a new MacBook or a trip to Italy. 

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    Overview of Banking Services 

    Apart from a checking account, N26 also has other banking services such as early payday advances. Therefore, it’s important to be familiar with all offerings of the bank before making an account. 

    Checking Account 

    The major feature of the bank is their checking account that can be used by expats, freelancers, travelers, or pretty much everyone. 

    Opening an N26 account is quite easy as you can do it from your phone. You just need to be older than 18 years and be a resident of the countries supported by the platform. Do check your smartphone’s compatibility before signing up for an account. 

    Here are some of the features of this bank account: 

    • No Hidden Fees: N26 does not charge any monthly fees or minimum balance charges. More importantly, there are no overdraft fees, and you don’t have to pay any charges for making foreign transactions. 
    • Fast Sign Up: Since N26’s operations are all online, there’s no need to stand in a queue or go to a physical location. You can set up an account in just five minutes from your phone or laptop. 
    • Security: Like traditional banks, N26 also offers secure banking to its users, ensuring safe usage of their accounts. Moreover, the bank has a Zero Liability Policy, which means you will not be liable to pay any money spent through your Visa card if it’s lost, stolen, or misplaced. 
    • Notifications: To help you keep track of your expenses, N26 sends you instant notifications for any withdrawals or money transfers. 
    • Quick Money Adding: N26 has made it very simple for users to add money to their accounts from another bank or a debit card. All it takes is a few taps, and you’re done. 
    • No ATM Fees: N26 offers free ATM withdrawals at more than 55,000 Allpoint locations in the US. Many of these locations are also present in Australia, the UK, Mexico, Canada, and Puerto Rico. Even better, users get two free ATM withdrawals from any out-of-network ATM every month in the US. 
    • N26 Statistics: An interesting feature of this account is the statistics that allow you to stay on top of your monetary needs and expenditure. The app categorizes all your payments on groceries, restaurants, rent, etc., and also shows you how your upcoming payments (recurring ones, like rent) look like for the next month. 

    How Secure is N26 Bank Account?

    Overall, N26 is just as secure as any other digital or conventional bank, considering its app has many security features. Most importantly, the Axos Bank insures N26 deposits of up to $250,000, giving you peace of mind. 

    Meanwhile, the app has secure login, which means you can keep your money safe by setting face recognition or fingerprint login. In case your card is lost, or you have misplaced it, you can lock it from the app. 

    Similarly, it takes a simple tap to unlock the card or set withdrawal limits. The app also lets you set a new PIN number for the card. To complement all these features, N26 offers impeccable real-time customer support that’s available through email, chat, and phone. 

    N26 Perks 

    One thing that has made N26 popular among millennials is the perks offered by the bank, such as cashback rewards and discounts at some famous brands. 

    If you have an N26 account, you can get cashback on fashion, restaurants, groceries, travel, and gas without having to sign up for anything. Since you start earning cashback automatically, there’s no need to activate it or sign up for anything. 

    All you have to do is look for the merchants and brands in your locality that the bank offers cashback for and shop from them. The cashback is transferred to your account every two weeks or 15 days. 

    Furthermore, the bank also offers discounts from popular brands, such as HelloFresh, which is a weekday meal service delivering healthy ingredients to your doorstep. An N26 card lets you save up to $80 on HelloFresh’s plans. 

    Even better, N26 also provides 200GB of additional space for a year on Dropbox, which is perfect for small teams or individual freelancers. N26 card users can also learn new languages from Busuu and get 60% off their plans. 

    Apart from these companies, N26 discounts are also eligible on other brands, such as Udemy, Fiverr, SkillYoga, and Adidas. Also, N26’s perks also include subscriptions, such as Curology, Headspace, Tidal, and Babbel. 

    Features of N26

    Apart from its checking account, N26 also offers other features, such as budgeting options and early payday advances. Here’s an overview of some of these features. 


    N26 Spaces is an initiative to help users save up for a new computer, a vacation, or simply for a rainy day. You can create sub-accounts within the app and transfer money to them via your main account whenever you want. 

    Let’s say you want to go to Hawaii for vacation this year, but you don’t exactly have a savings account. So, you can create a sub-account in your main account and send money to it every week or month, whichever suits you best. 

    The sub-account will be a Space in which you can deposit money directly from your main account. Depending on the plan you’ve subscribed to, you can have up to 10 Spaces. This means you can save money for different needs separately. 

    Since the transfer to the sub-account is instant, you don’t have to wait to see the money in it. Plus, the account lets you visualize how close you are to reaching your desired amount. 

    If you want to save money quickly, you can benefit from the app’s Round-Up feature. Basically, you can round up your change to the nearest dollar and transfer it to the sub-account or ‘space’ you have created. 

    Alternatively, you can set a certain amount of your paycheck to be sent to your preferred space every month automatically. Since this schedule is not permanent, you can change or edit according to your preference. 

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    Early Pay Day

    Users who sign up for a direct deposit can get their paycheck up to two days early. Therefore, if you have an unexpected expense or simply need some extra money for leisure, you can manage your needs easily. 

    As soon as the money enters your account, you get a notification. Then, you can send some of this money to the Spaces you have created or check the statistics to get an insight into the upcoming expenses. 

    Google Pay 

    N26 is also compatible with Google Pay, allowing you to make contactless payments by taking your phone near the NFC reader. Even better, this feature makes it super-easy for you to check out during online shopping as you don’t have to enter your card information. 

    More importantly, Google Pay has several security layers to ensure the users’ information remains safe during transactions. 

    Apple Pay 

    Like Google Pay, N26 also supports Apple Pay, making it simple for iPhone users to purchase things online or in physical stores. 

    Therefore, you can enjoy contactless payments anywhere without having to carry your wallet around. Moreover, Apple keeps the users’ information safe, keeping their sensitive details secure. 

    Plus, you get real-time notifications on your phone every time you make a transaction. It helps keep track of the payments. Since Apple Pay transactions are secured through Face ID or Touch ID, there’s no need to worry about your information getting lost. 

    N26 Plans and Pricing 

    N26’s pricing is quite reasonable as compared to conventional banks and other traditional banking platforms. Their Standard Plan for personal use is free of charge and has the following features: 

    • A virtual Mastercard debit card
    • Mobile payments
    • Contactless payments 
    • Free worldwide payments 
    • Mobile banking

    However, this package does not include medical travel insurance or luggage coverage. 

    Meanwhile, the Smart Plan costs around $6 per month and comes with a debit card available in five different colors. Apart from the features of the free plan, the Smart plan also has additional perks like round-ups, shared sub-accounts, statistics, 10 Spaces, and partner offers. 

    The other two plans from the bank are Metal and You, which are on the costlier side. However, offers premium features such as luggage coverage and travel insurance, even during the pandemic. 

    Similarly, the bank also offers Business accounts in the same plans. You can choose among four plans as per your preference and budget. 

    Pros of N26

    Here are the pros of N26: 

    • No ATM Fees: As an N26 user, you can use any on-network ATM free of charge. As for out-of-network ATMs, two transactions are free every month. 
    • No Fees: Apart from the absence of ATM fees, N26 also does not charge maintenance, card, minimum balance, or any other kind of fee. 
    • Low Exchange Rates: When traveling abroad, you pay the actual exchange rate instead of any additional currency conversion fees. Therefore, the card is pretty useful for people traveling overseas. 
    • Budgeting Options: N26 also has a couple of budgeting features. These include Spaces and Round-Up, that help you save money for whatever you want. 
    • Mobile Banking: The N26 mobile app has every feature you could possibly need, including the option to lock or unlock the card, manage payments, get insights, and change the PIN for your card. 
    • Multiple Languages: Along with English, N26 also supports a couple of other languages, such as German, Italian, French, and Spanish. 
    • Security: The banking platform and its app have a number of security features, such as privacy mode, fingerprint login, zero liability, etc. 

    Cons of N26

    Here are some shortcomings of this banking platform: 

    • Bugs: Although the app has a ton of features, there are some bugs. This means you might see an error when signing in or transferring an amount. Apparently, this is due to poor reception or internet connection. 
    • Problems In Account Creation: Although N26 says you can create an account in five minutes, this doesn’t always hold true. In some cases, people faced difficulties when trying to sign up. For some, verifying this ID took too long while others had issues with two-factor authentication.

    N26 Final Verdict 

    To wrap things up, we have to say that N26 is a remarkable banking option, especially for users who travel overseas occasionally or need an account to save for different purposes. 

    Since the platform does not charge any additional fees and has a number of plans, there’s something for everyone. 

    In particular, the app is useful for self-employed individuals who need to manage their money in the best way possible. So, as long as you don’t mind putting up with some of the bugs in the app, you can not go wrong with N26. 

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    Iftikhar Alam

    Iftikhar Alam

    Hi! I've been covering the tech industry for the last 8+ years. As a contributor for The Rideshare Guy, I'm here to help our readers learn how to "work smarter, not harder", as Harry likes to say. Hope you enjoy reading my content and look for more money-making and money-saving tips from me soon!