N26 is a German online bank based in Berlin, founded in 2013. Its innovative approach to banking has gained global recognition, attracting over 7 million customers by 2021.
With its presence both in Europe and the United States, this bank continues to grow, offering users modern financial solutions.
In this article, you will learn about the main features, benefits, and security aspects of using N26’s services. This will help you assess whether it is the right choice for your financial needs. We will explore N26 reviews and whether it’s worth opening an account with them.
What is N26 and how does it work and Europe?
N26 is not a traditional bank. This means you don’t have to spend time in a branch to manage your finances. All you need to do is download the app, which has everything. You can open an account in just a few minutes without paperwork, transfer money between accounts, and even contact customer support — all from your smartphone.
If you’ve heard of different types of cards or accounts with N26, the ones available in Europe come in three options (Smart, You, and Metal). They are mainly designed for private users but also available for business purposes.
How to open an account with N26?
If you are at least 18 years old visit the N26 website or download the app. Then, choose the option to create a new account. During registration, you will be asked to provide:
- First and last name
- Date of birth
- Social security number
- Home address
- Email address
- Mobile phone number
Your information will then be verified.
Once these steps are completed, your N26 Visa debit card will be mailed to you. It should arrive within 5-7 business days.
This process is simple and convenient, even for those with no experience in online banking.
N26 Features and Reviews
N26 doesn’t offer a traditional savings account. Instead, you’ll find a feature called “Spaces.” It allows you to create up to two sub-accounts for free. You can name them as you wish, like “savings” or “new car.” By setting short- or long-term goals, you’ll be able to visualize and track them.
If you’re keen on monitoring your spending, you can use the N26 Statistics feature. The bank gathers information on where you spend your money and categorizes it accordingly. You can also customize this tool by adding your own hashtags to some transactions. This can be useful, for instance, if you want to track travel expenses.
You can use the MoneyBeam integration to instantly send money to other N26 users. This feature is handy when you need to pay a larger bill, like rent, or simply split a restaurant bill.
How to add money to your N26 account?
You can make transfers directly through the N26 app. Just go to “Add funds” and choose “Transfer from an external bank.” Then, select the bank account you want to transfer funds from and confirm the transaction.
You can also top up your account using a debit card. Choose “add funds,” then your preferred method: debit card, Apple Pay, or Google Pay. The money will appear in your account instantly.
Is N26 a safe bank?
N26 holds a European banking license. This means it is regulated by the European Banking Authority. Customers’ deposits are secured by a deposit guarantee scheme up to 100,000 euros. This is standard across the European Union.
Customers can also set their own daily transaction limits and block their cards directly from the app, which is particularly useful in case of loss or theft.
N26 regularly conducts security checks on transactions and accounts, increasing protection against fraud. Although these procedures may sometimes feel inconvenient for users, their goal is to ensure maximum security for your funds.
Conclusion – N26 Reviews – Is it worth it?
Yes, I definitely recommend N26. Since 2016, I’ve been using this bank as my main account. My N26 Mastercard has accompanied me on travels around the world. I’m very satisfied with this bank, which is why I haven’t switched to another one. Many of my friends also use N26 and are equally happy.
N26 offers various types of accounts. Personally, I use the free account option, which, although it has become a bit more limited over time, still offers great terms.
Fees are low, and the N26 app is intuitive and user-friendly — I especially appreciate the push notification feature and the ability to create financial spaces called “Spaces.” However, the biggest downside is the relatively slow customer support.