Updated September 29, 2026 · VaultCue Editorial Team
N26 vs Varo Bank
N26
Higher score in this comparison
Varo Bank
N26 vs Varo Bank: the differences
| Compare | N26ReviewVisitVisit | Varo BankReviewSee alternativesSee alternatives |
|---|---|---|
| Monthly fee | €0 | $0 |
| Deposit protection | EU DGS up to EUR 100,000 | FDIC up to USD 250,000 |
| Local account details | IBAN | Us ACH |
| Free ATM withdrawals | €2 | $0 |
| Transfer fee | Free: no extra charge for Wise-powered international transfers; MoneyBeam domestic transfers free | Free |
| Licence type | Not confirmed | Bank |
| Currencies | from 35 | Not confirmed |
Same on both: Currency conversion fee (0%).
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Key differences
- N26 scores higher overall: 9.1 vs 8.9.
- Founded is lower at N26: 2013 vs 2015.
- N26 is available in 20 more countries.
- Local account details: only N26 offers IBAN.
- Local account details: only Varo Bank offers Us ACH.
- Pricing model: only N26 offers Low FX.
- Features: only N26 offers Joint account.
- Features: only Varo Bank offers No credit check.
Our verdict on each
N26
N26 suits people who want banking costs to stay flat and who move money across currencies often: the monthly fee is €0 and the currency conversion fee is 0%. It is aimed at expats, travelers, students and teens, and savings sit alongside the everyday account.
Varo Bank
Varo Bank suits people who want a free digital bank account and an easy-access savings balance without a minimum deposit. It charges a monthly fee of $0, pays a variable rate of 1% to 3.75% and holds deposits under FDIC up to USD 250,000.
Score breakdown
| Area | N26 | Varo Bank |
|---|---|---|
| Cost | 9.4HigherFees of €0 monthly and 0% to convert sit at position 1 of 500 and 1 of 312. | 9.3 |
| Offer | 9.5HigherAimed at expats, travelers and student, holding from 35 currencies, with a joint account, digital-only service and easy-access savings. | 9.0 |
| Trust | 8.5 | 8.5 |
How they place
| Ranking | N26 | Varo Bank |
|---|---|---|
| Savings accounts | 22 of 1420 | 440 of 1420 |
| Online banks | 9 of 402 | 134 of 402 |
Availability and regulation
| Country | N26 | Varo Bank |
|---|---|---|
| Germany | Not confirmed | |
| United States | Not confirmed | FDIC FDIC cert 59190 |
Additional countries for N26: 21. Additional countries for Varo Bank: 1.
Spending 1,000 abroad
N26
0
0% of 1,000
Varo Bank
0
0% of 1,000
Both come to the same total.
Worked out from the stated prices and rates; your own total depends on how you use it. Facts checked September 26, 2026.
What we checked
N26
- n26.com: 14 facts, checked September 26, 2026
Varo Bank
- varomoney.com: 8 facts, checked September 26, 2026
- banks.data.fdic.gov: 3 facts, checked September 26, 2026
- support.varomoney.com: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | N26 | Varo Bank |
|---|---|---|
| Audience | Expats, Travelers, Student, Teen | Not confirmed |
| Pricing model | No monthly fee, Low FXCovers more | No monthly fee |
| Features | Free ATM, Joint account, Digital only | Free ATM, Digital only, No credit check |
| Legal entity | N26 Bank SE | Varo Bank, National Association |
| Headquarters | Germany | United States |
| Founded | 2013Lower | 2015 |
| Support channels | Email, Chat, Phone, Help centre | Email, Chat, Phone, Help centre |
Savings
| Fact | N26 | Varo Bank |
|---|---|---|
| Headline rate | 0.3% to 1.5% | 1% to 3.75%Higher |
| Rate type | Variable | Variable |
| Minimum deposit | Not confirmed | $0 |
| Access terms | 100% flexible: deposit and withdraw any amount, whenever you want | No minimum balance or deposit, no savings cap, access in the Varo app with free instant transfers |
| Account kind | Easy access | Easy access |
Money transfer
| Fact | N26 | Varo Bank |
|---|---|---|
| Exchange rate markup | 0% | Not confirmed |
| Delivery time | Instant to 1 business day | Not confirmed |
| Payout methods | Bank, Card | Not confirmed |
| Fee to send 1,000 | €0 | Not confirmed |
Where each stands against the rest
| Fact | N26 | Varo Bank | Median |
|---|---|---|---|
| Currency conversion fee | 0%below the median | 0%below the median | 0.5% |
| Currencies | from 35highest quarter | Not confirmed | 5 |
Median across 536 listed accounts.
Pros and cons
N26
Pros
- Deposits are protected through EU DGS up to EUR 100,000, with N26 Bank SE supervised by BaFin in Germany.
- The savings pot is easy access and fully flexible, so deposits and withdrawals happen in any amount, whenever you want.
- Support is broad for an app-based bank, running on email, chat and phone.
Cons
- The savings rate is variable and sits at 0.3% to 1.5%, below the 3% median across savings accounts on the site.
- Local payment details run on iban, so UK sort codes and US ACH numbers are not part of the standard setup.
Varo Bank
Pros
- A monthly fee of $0 applies, matching the site median of €0
- The savings account takes a minimum deposit of $0 and pays a variable rate of 1% to 3.75%
- Transfers are free and the ATM allowance is $0
Cons
- The savings rate is variable, so the 1% to 3.75% range can move
- The service is digital-only, which needs a phone and app access for everyday banking
- It is a US bank licence, and the local payment detail is us ach
Who each suits
N26
Who it suits
- Expats, travelers, students and teens who want spending and savings in the same app, with from 35 currencies to hold.
- Readers who move money across borders, since transfers arrive in Instant to 1 business day and pay out to a bank account or a card.
Who should look elsewhere
- Pixpay FR, because its monthly fee of €3.99 suits readers who will put regular use through the account rather than those who want a fee-free everyday account.
- bunq Spain Bank Account, because a currency conversion fee of 3% suits readers banking mainly in euros and converting rarely.
Varo Bank
Who it suits
- You want a savings balance you can reach at any time from the app
- You want no monthly charge on the everyday account
- You want a bank rather than an e-money or payment institution
Who should look elsewhere
- You want a fixed-rate term deposit, since the rate here is variable
- You need branches or in-person service, as the service is digital-only
- You need euro or UK payment details, and the local detail is us ach
Current offers
N26
Current offer
Bonus
1% travel cashback: 1% cashback for up to 12 months on qualifying Mastercard transactions outside the EEA, Switzerland and the UK
N26 Go and Metal customers only; enrolment required via in-app message, email or push notification; up to 12 months
Source, checked September 26, 2026
Country by country
| Country | N26 | Varo Bank |
|---|---|---|
| Austria | Yes | No |
| Belgium | Yes | No |
| Denmark | Yes | No |
| Estonia | Yes | No |
| Finland | Yes | No |
| France | Yes | No |
| Germany | Yes | No |
| Greece | Yes | No |
8 of 22 countries where either is available.
Questions about each
N26
What does N26 cost to keep open each month?+
The everyday account is free to run: the monthly fee is €0, and N26 sits at position 1 of 500 brands on that column. Spending, savings and support all sit in the same app, so holding the account costs nothing to maintain.
How much does it cost to convert or send money abroad?+
Foreign currency conversion costs 0%, and the exchange rate margin is 0%. The transfer fee is free: no extra charge is added to Wise-powered international transfers, and MoneyBeam domestic transfers are free. That keeps the cost of moving money abroad close to nothing.
Varo Bank
What does Varo Bank charge each month?+
Varo Bank charges a monthly fee of $0 on the everyday account, which matches the site median of €0. Transfers are free and the ATM allowance is $0, so day to day banking costs nothing extra.
How much interest does the Varo savings account pay?+
The savings account pays a variable rate of 1% to 3.75%. Because the rate is variable, the range can move over time. The site median headline rate is 3%, so this sits at the higher end of typical savings listings.
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N26
Varo Bank