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Founded onthe year 2013 by Maximilian Tayenthal and Valentin Stalf, N-26 or also known as Number 26 is a German neobank that offers its services throughout the countries likes UK, US, Europe, Switzerland, and is expected to start providing bank services in Brazil soon. This German neobank is headquartered in Berlin, Germany. The company’s name N26 was inspired from the 26-sided Rubik’s Cube. At first, Number 26 started its banking operations without acquiring a banking license. What they only had was merely an interface which was provided to them by Wirecard. However, in June 2016, the company has finally received its bank license from BaFin, and was re-branded as N26 Bank.
What’s N26 Bank Review?
The neobank N26 had a quite good amount of positive online reviews from its users from Trust Pilot-a customer review site that hosts millions of customer reviews all around the world every month.
N26 Bank was rated by 9,577 of users with a total of 4 stars out of 5. Here is the breakdown of the users’ ratings:
- 66% rated its banking services as excellent
- 12% rated its banking services as great
- 2% rated its banking services as average
- 2% rated its banking services as poor
- 19% rated its banking services as bad
One user named Gerry Rice commended how fantabulous his online banking experience was. According to this user, N26 Bank has met and even exceeded his expectations over the past 18 months of using it. And according to him, his existing bank for 25 months looked very old and tiring, and he noted that he won’t be sticking on the old and would continue using his N26 Bank instead. He rated N26 Bank with a perfect 5 out of 5 stars.
Consequently, one user rated N26 Bank with a 1 out of 5 stars. According to this user, he has used N26 Bank’s banking services to pay for something online. But to his disappointment, he never received anything and now he has to pay a fine for such circumstance. Upon receiving this complaint, N26 Bank has immediately reached out to the said user and has directed him to their customer service to further deal with the issue properly.
What can you do with N26 Bank?
N26 Bank provides a basic current account for free, and a Debit MasterCard card to all its users, as well as a Maestro card for users in selected areas. Customers can also request for their overdraft and investment products. Moreover, N26 also offers premium accounts called N26 Metal and N26 You-which offers more features for a monthly fee.
An overview to N26 Bank’s services:
- Mobile Payments – N26 Bank services are very accessible and can be used in your smartphones for in-store purchases. It can be easily downloaded in Google Play, and is also supported in Apple Pay.
- Free Banking Transactions – this neobank offers its services with no monthly fee for its basic banking transactions. In some European countries, except for Italy and Austria, they limit their ATM withdrawals to 5 per month for primary account users, and 3 per month for others. But in the UK, they offer an unlimited ATM withdrawal service. ATM withdrawals in foreign countries are subject to a 1.70% fee for the basic account users.
- Secured Online Banking – users can easily lock or unlock their MasterCard through their smartphones without having to contact N26 for it. They can also modify its daily amount limit and enable or disable the account.
N26 Money Transfer
N26 is available and accessible in 23 European countries, and the United States. Their customers can only request for a Maestro card if they’re residing in the countries such as Germany, Austria and Netherlands.
How to create a N26 Bank Account?
In order to create a N26 account you must:
- be resident of their supported countries
- 18 years old of age or above
- own an Android or Apple smartphone
- owns a supported ID
How to sign up:
- once you have confirmed your email address and personal details, you must select the type of N26 account that you want to avail.
- you will be having to prove your identity by connecting your smartphone to your account.
- you can top up your newly created account via Bank Transfer.
- you will acquire your N26 MasterCard within a few days.
N26 Bank Users
N26 is the modern alternative for the conventional and traditional bank. This online banking is perfect for travel or operates business in multiple countries. This application can be for personal use or for business purposes.
This is available in the countries Germany, Ireland, USA, Austria, France, Spain, Italy, Netherlands, Belgium, Finland, Luxembourg, Slovenia, Portugal, Greece, Estonia, Slovakia Denmark, Poland, Iceland, Liechtenstein, Sweden, Iceland and Norway.
Is N26 Bank Safe?
In December 2016, a computer science researcher from the University of Erlangen-Nuremberg named Vincent Haupert, showed N26 Bank’s security vulnerabilities and demonstrated how he could take advantage of these vulnerabilities and get the accounts of the N26 users without them knowing.N26 Bank has acknowledged Haupert’s claims, and said that they have already fixed its security vulnerabilities before they went public.
In March 2019, some German customers who had their account credentials stolen had a difficult time contacting the bank to solve the issue. It was reported that it took them two weeks before they’ve responded. To counter such issues, N26 uses a wide variety of technical and operational measures to give you extra control and safety. They also provide a layer of security to prevent fraudulent activities from occurring.
N26 Credit Card
Conclusion
In this fast-paced and modern world, it is good to have a bank that provides its services in a digital way. From money withdrawals to international cash transfers at exchange rates with minimal fee, N26 has a lot to offer.