N26 Review

Company background

N26 is a licensed bank, founded in 2013, headquartered in Germany, operating under N26 GmbH. N26 pairs a real German banking licence with a clean app, making it the safest-feeling everyday account for people who live and earn in euros. We rate it best for the eurozone. It is a phone-first current account, bundling in-app savings, budgeting tools, business accounts and joint accounts into one app.

Fees and pricing

On day-to-day costs, N26 charges no monthly account fee, and applies a 0% markup on foreign-currency spending.

• Monthly fee: no monthly account fee.
• FX markup: 0% on spending outside your currency.
• ATM withdrawals: free up to 3 EUR a month, then 1.7%.
• Savings: up to 2.74% AER on in-app balances.

For everyday domestic use the running cost is effectively nil, so the figure that matters most is how often you spend or withdraw in another currency.

Regulation and safety

N26 operates as a licensed bank, regulated by BaFin, Deutsche Bundesbank and ECB. Eligible deposits are protected up to 100,000 EUR under German deposit guarantee (EdB) up to 100,000 EUR. That guarantee is backed by a national compensation scheme, so your covered balance is returned even if the provider fails.

Platform experience

N26 is available across iOS, Android and Web. The mobile apps score 4.6/5 on the App Store and 4.3/5 on Google Play. Payments run on a Mastercard physical and virtual card, and it works with Apple Pay and Google Pay.

Pros and cons

On the plus side, full German banking licence with 100,000 EUR deposit protection, no card FX fee at the Mastercard rate and instant savings paying interest from the first euro. The main trade-offs are euro-only balance, so no true multi-currency holding and only a few free ATM withdrawals per month on the free plan. On balance it is a comfortable pick best for the eurozone, provided its limitations line up with how you actually bank.