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N26 Online Bank Review

100% mobile bank account with no hidden fees

Katy Ward
Nov. 15, 2022
2 min read
Katy Ward
N26 Summary
With more than 7 million customers worldwide, Berlin-based N26 offers a 100% mobile solution for checking accounts in the US. With a focus on digital financial management and budgeting, its major features include a statistics tool that provides real-time insights into spending and instant push messages for all account activity. For customers keen to earn rewards, the bank offers cashback on spending and perks with popular retailers.

Pros

  • No monthly service fee
  • Facial/fingerprint recognition
  • Funds insured up to $250,000 under the FDIC scheme

Cons

  • Check scanning not available
  • No physical branches

N26 at a glance

8.8
Editorial score

Fees?

No fees at all
10.0

Security

FDIC insured, SSL/AES encryption and supports 2 factor and biometric authentication
10.0

Customer service

Early morning, evening and weekend service with multiple communication options and a dedicated fraud team
8.0

Online experience

User friendly site with full online banking capabilities
8.0

Mobile experience

User friendly mobile app that offers most mobile banking features, may not be available on all devices
8.0

N26 N26 Visit N26

Advantages Over Traditional Banks 

As an app-based solution, N26 takes a data-driven approach to personal finance, with its analytics tools offering a robust overview of your spending. Not having bricks-and-mortar branches also allows the bank to save on overheads, which is reflected in its low fees.

Some of N26’s advantages over traditional banks include:

  • A statistics tool that automatically categorizes all your spending in real time, so you can spot overspending in certain areas
  • A feature known as Spaces, which enables you to create up to 2 personalized sub-accounts within your main account, which you can use for different purposes
  • No monthly maintenance, foreign transaction, or minimum balance fees
  • Real-time, in-app notifications on all account activity

Cutting-Edge Banking Services 

N26’s model is designed for tech-savvy customers seeking an account that gives them the freedom to manage every aspect of their finances in one place.

If you choose N26, you can:

  • Open an account within 5 minutes from your phone without the need for paperwork
  • Access the funds from your paycheck up to 2 days early via a direct deposit scheme 
  • Send money to your contacts instantly without having to enter their bank details 
  • Make contactless payments with your N26 card using Apple Pay or Google Pay

Traditional Banking Service

Despite its focus on digital banking, N26 offers a number of the more useful features and rewards of traditional banks, including:

  • Access to fee-free withdrawals at more than 55,000 ATMs through the Allpoint network
  • Cashback on shopping, travel, or dining at participating retailers, which is automatically deposited into your account every 15 days
  • N26 Visa Debit card
  • A perks scheme offering discounts with brands such as Hello Fresh, Dropbox, and Adidas
  • Fund transfers via direct deposits, external bank transfers, or ACH transfers

Fees

While the account has a low-fee policy, you may incur the following charges:

Fee typeFee amount
Monthly service$0
Monthly minimum balance$0
Domestic ATM
  • Allpoint ATMs: $0
  • $0 on the first 2 non-Allpoint ATM transactions, $2 for subsequent transactions
International ATM$2, plus 2% of withdrawal amount after conversion to US dollars
Foreign transaction$0
Card replacement
  • Standard: $5
  • Express shipping: $30
Insufficient funds$0
Processing (e.g., orders of garnishment and tax levy)$100

Customer Service 

If you have a question or concern about your account, you can contact N26 over the phone, via email or social media, or through the app. Its customer support hours are 9 am-11.59 pm EST Monday to Friday, and 9 am-9 pm EST on Saturday and Sunday, minus the recognized holidays.

  • 1-888-626-0626
  • support-us@n26.com

Mobile App

As you might expect from a 100% mobile solution, you can access every aspect of the bank’s services via its app, which is available from the Apple App Store or Google Play Store. 

Watch this video to learn more about N26’s mobile banking app.

Security 

If you’re concerned about security, N26 offers a range of features to protect you and your money against cybercrime, which includes:

  • Fingerprint and facial recognition
  • PIN confirmation required to transfer funds
  • Card locking/unlocking 
  • Spending limits on account
  • FDIC insurance on funds of up to $$250,000 through the bank’s partner, Axos Bank


N26 N26 Visit N26

Summary

If you prefer the convenience of managing your day-to-day finances through an app, N26 has a great deal to offer. As well as giving you the freedom to manage your money on the go, the bank’s analytics tools provide you with a comprehensive picture of all your spending. While the bank doesn’t pay interest on deposits, this is not unusual for low-fee checking accounts and, in most cases, should not detract from the benefits of using N26.

Methodology

This review was compiled using information on the company’s website and social media sites, as well as contacting its customer support staff.



Katy Ward
Written by
Katy Ward
Oxford graduate Katy Ward is a seasoned journalist and editor covering personal finance for Eleven Writing and Top10. Over a 15-year career, Katy has worked with several finance titans, including Barclays, Tandem Bank, and Yahoo! Finance. She enjoys identifying complex financial trends that make for interesting article topics.
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