N26 the ultra simplified bank account on smartphone

Le site Orange Bank Originally, in 2013, N26 was a German company based in Berlin. This start-up started in partnership with a traditional bank (Wirecard) in order to be able to open accounts and offer banking services. After a successful launch period, N26 was able, in 2016, to have its own banking license . This company is now a full-fledged bank, which has developed in Europe: Germany, Spain, Austria, Greece, Italy, France (branch opened in March 2018 ), England (2018).
Started "from scratch", N26 has invested only in online tools, of course focusing on smartphones ( mobile banking ). Its purely digital model therefore implies that there is no N26 branch or bank agency.
At the start of 2018, the bank had 1,000,000 customers, including 100,000 in France alone.
In July 2019, N26 changes its prices (up!), As well as the conditions of use of its cards, which become much less attractive than the competition.

Open a current account at N26

Normally it takes you less than 10 minutes to open an account with N26. You fill out the form which is a bit long, because the questions are displayed one by one (interest?). A video chat with N26 allows the bank to validate the opening of the account: taking a photo of the holder, copy of your identity document, etc.
After validation, with your IBAN you can make a transfer to your new N26 account. It is this transfer that will trigger the production and sending of your bank card. In the best case, you will receive it within 8 days . All you have to do is make a withdrawal to activate the card .
Note that to benefit from the free account, it is not the amount of income you will pay that matters, but the number of transactions made with the card .

I open an N26 current account online

Menu Cost Condition

Standard Mastercard
free 5 free $ withdrawals / month
Beyond: 2 € / withdrawal

N26 You
(immediate debit)
$ 9.90 / month 5 free $ withdrawals / month
Beyond: 2 € / withdrawal

N26 Metal
(immediate debit)
$ 16.90 / month
5 free $ withdrawals / month
Beyond: 2 € / withdrawal

N26: the advantages

  • No minimum income or imposed salary , unlike most online banks.
  • You can change your credit card limit yourself .
  • You can choose and modify the confidential code (PIN code) of your bank card.
  • You can block / unblock your bank card in the event of loss, for example, and possibly recommend one.
  • Possibility of activating real-time notifications of all transactions on your account , to follow its activity live.
  • You can make money transfers by TransferWise in 19 different currencies (pricing announced 6 times cheaper than in a traditional bank), and between individuals by MoneyBeam (no need for RIB or IBAN, but just the recipient's phone number) .
  • You can link your N26 card with Apple Pay and make contactless payments.
  • Automatic categorization of your expenses: your purchases are automatically sorted with a title, which allows you to better manage your budget.
  • Customer service available via chat, phone, Twitter and Facebook.
  • In partnership with Younited Credit you can take out a loan between 1,000 and 40,000 us dollars.
  • Please note, only the two paying versions of bank cards allow free card payments abroad , and also free withdrawals in all foreign currencies . The more expensive version, called Metal , does not add much besides dedicated customer service, and ... a metal card ... It is really expensive to pay.

N26: the disadvantages

  • You can not deposit cash directly into your N26 account. But frankly, other than if your grandfather gives you a big bill, it is now completely anachronistic to put cash in your bank account.
  • N26 does not offer a checkbook … yes, we have gone digital!
  • You can not deposit a check into your account ... that's more annoying, because some administrations or companies only work with checks ...
  • Payments (2 € / transaction) in ATMs beyond 5 per month ! It may be little for some who use a lot of fluid, or quite sufficient for others. To see according to his habits. But the most surprising, not to say appalling, is that even paid cards are affected by these tax withdrawals ! You might as well go to a traditional bank in this case, or rather ... go to online banking competition, other establishments do not charge withdrawals in this way.
  • You can only reach an advisor by Livetchat (with the application), Twitter or Facebook (No customer service phone number entered).

N26: available services

To come up :
  • open a savings account / invest money
  • request a bank overdraft

Our opinion on N26

N26 has joined all the French players in online banking by offering a very competitive offer. It stands out from the others in particular by the possibility of opening an account without justifying income; suddenly the bank cards are accessible only according to the contribution that one is ready to pay compared to the level of service provided (if one wishes more than the basic free offer). It will particularly appeal to a young and connected population, eager to manage everything themselves via the Internet, for whom agencies have little interest, and who, in fact, do not necessarily have as soon as they start life. active, large and fixed income.
N26 presents itself as a real alternative, of course to traditional physical banks, but also to other online banks whose offers are quite similar in the end.
The paid offer from the You card turns out to be interesting for travelers, having no commission on withdrawals in foreign currency (all for a completely acceptable contribution). This contribution is nevertheless difficult to justify compared to what the competition offers for classic everyday use. So compare before you get started!

Summary of the offer at N26
Simple N26 account
Account opening / closing FREE
Subscription / Account management FREE
ATM withdrawals (us dollar zone) 5 / month FREE
then 2 € / withdrawal
ATM withdrawals (outside the us dollar zone) FREE
Check NO
Online transfers (in $, US dollar zone) FREE
Specimens FREE
Purchases (in $, in US dollar Zone) FREE
Purchases in foreign currencies (excluding the us dollar zone) FREE
N26 YOU / N26 METAL account
Account opening / closing FREE
Subscription / Account management $ 9.90 / month (You)
$ 16.90 / month (Metal)
ATM withdrawals (us dollar zone) 5 / month FREE
then 2 € / withdrawal
ATM withdrawals (outside the us dollar zone) FREE
Check NO
Online transfers (in $, US dollar zone) FREE
Specimens FREE
Purchases (in $, in US dollar Zone) FREE
Purchases in foreign currencies (excluding the us dollar zone) FREE
Dedicated customer service YES (Metal)
Allianz Insurance YES
Proposed services
Bank card network
Type of bank card MasterCard
Mobile app YES
Weekday customer service hours (Livetchat / Twitter / Facebook) ?
Customer service hours on Saturday (Livetchat / Twitter / Facebook) ?
Income domiciliation obligation NO
Contactless payment (NFC) YES
Apple Pay (NFC) YES
Automatic activation of contactless ?
Bank check NO
Rebate checks NOT AVAILABLE
Cash payment NO
Transfers without RIB (with phone number) by Moneybeam YES
Real-time account status notifications YES
Modification of the credit card limit online YES
Online bank card opposition / reactivation YES
Customization of the credit card code YES
Demonstration site NO
3DSecure ?
Visual categorization of expenses YES
Access by fingerprint (app) YES
Premium card (Black = World Elite) YES
Prestige bank card (Metal = World Elite) YES
Consumer credit NO
Real estate loan NO
Authorized overdraft rate 8.9% / year
Unauthorized overdraft rate ?
Early renewal of bank card $ 6 Mastercard account
$ 60 Metal Card
Live chat with an advisor by app YES
Possibility of opening a savings account NO
Opening of an A booklet NO
Opening of a LDD NO
stock Exchange NO
Opening a Life Insurance NO
open an N26 account

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