To start off: N26 is a proper EU and US-licensed bank founded in Berlin in 2013. N26 bank USA launched in the first half of 2019. N26 in USA has made tremendous progress because of its no-nonsense approach to banking. The following is the N26 bank USA review.
N26 USA adheres to banking rules, has the same guarantees by the government as traditional banks such as Citibank or BofA. N26 app, for Android or iOS, may be whimsical, the TV ads cool, but it is a proper virtual bank with thousands of employees and the financial backing of billions of dollars and millions of daily users.
N26 jumped to the forefront of the so-called banking startups world in a time when most failed to connect with youths. It makes sense: banks use what is called “legacy computer systems” so they simply cannot offer any new tech without having to throw away millions of dollars investments and fire entire tech teams just to offer an app. So, N26 saw that by offering convenience and ease of use, they could take on a market that was settled in their good old ways.
Also Read: N26 Business Bank Review
Opening an account with N26 bank USA is easy. With video identification, there is little to no stress involved regarding the sign-up. If you are a human with a national ID or passport, you can get an N26 account in the United States or in Europe.
Does N26 work in USA? N26 bank is now available in the US and you can open an account within a few minutes. N26 bank in US eliminates paperwork and does not have hidden fees.
N26 is no longer operational in the UK. The bank advised all their customers to withdraw all the monies held in their accounts. If you had not withdrawn money from your account, you can contact the bank for a refund. Money for customers who had not withdrawn is held in a Trust account with a Third Party bank.
To open N26 US account, you must be 18+ years old and a US citizen or a US permanent resident with an SSN. N26 will require you to provide necessary information such as:
- Date of birth
- Residential address
- Place of Birth
- Phone Number
- Mailing address
- Next, you’ll be asked a couple additional questions such as Gender, Job description, Tax residency and Tax ID number
Then accept their terms and conditions to proceed.
N26 money deposit is easy with the N26 bank app. There are several options for N26 bank deposit, among them; SEPA transfers that takes up to 2 business days, debit or credit card deposit that is instant, Apple and Google Pay that is instant, Moneybeam also instant and CASH26 that is also instant. N26 deposit fee using CASH26 at N26 partner locations is 1%. N26 mobile check deposit allows customers to deposit checks and make cash transfers. You can also fund your account using payment services like Cash App and Venmo.
When you sign up for N26 direct deposit, you will get your paycheck up to 2 days early. Setting up N26 direct deposit is simple. Go to Actions Tab on N26 app and select Add Money. Then tap on Direct Deposit and follow the prompts.
There are many ways to withdraw cash from N26 bank account. The easiest is N26 ATM withdrawals. You just need to put on your card into an ATM machine, enter the amount to withdraw and the pin. You can also withdraw from the bank over the counter.
N26 bank US provides fee-free ATM withdrawals from over 55,000 Allpoint network locations in the U.S., Canada, Mexico, Australia, and the U.K. However, N26 charges $2 plus 2% of withdrawal amount after conversion to U.S. dollars for out-of-network international ATM withdrawals.
The other way is through N26 cashback. N26 card in USA comes with cashback feature. Each time you use your N26 bank debit card as payment at N26 cashback brand partners, you will get automatic cashback.
You can also withdraw cash from N26 partner locations using CASH26 feature in the app. All you need to do is open the app, tap Withdraw and then enter the amount. The amount will generate a code. Give the cashier at the partner location the code to scan and you get the amount you’ve withdrawn.
You can transfer money from your N26 bank account to another bank from either the N26 app or the website. To do this, follow these steps:
- Choose the send money tab from the home screen
- Select Send money, then Bank Transfer and then add a new recipient
- Enter your recipient’s name and IBAN and select Continue
- Choose the amount and select Next
- Add a message if required or select Skip It
- Check the Transfer Review screen
- Here you can also schedule the date of your transfer and save it as a standing order
- Press Send and confirm with your confirmation PIN
You are able to transfer money from an external bank account to your N26 bank account by linking your N26 account with the external bank account within your N26 app or website. You can link the account by going to Add Money, External bank transfer and then Link an account.
N26 has partnered with Wise (formerly Transferwise) to make money transfers. Sending money to anyone is easy too. You only need to type in an email and the amount, the money is transferred instantly which is quite remarkable. There is no fee to receive money from anyone. Transferring money in the same currency as your N26 account is free, while the N26 international transfer fee is USD 0.60-5.55. N26 currency exchange fee for international transfers is 0.35-2.00% of the exchanged amount.
Receiving money works quite well. Even international money transfers through their partnership with TransferWise which is kind of amazing. You can get paid in almost any currency with one bank account! The entire experience feels intuitive and – this is high praise – it feels like an app, not like a banking app. They have given funky names to basic banking routines too: they have a thing called Spaces which means you have multiple electronic wallets so you can manage your savings. Spaces allows you to put money aside to help you reach your financial goals.
You can easily schedule regular payments and they have a clever little notification feature that prompts you in case you are short on funds and there is an upcoming charge. At least it gives you time to transfer money from one of your N26 Spaces or ask a loved one for a short loan.
Speaking of loans, N26 has a nifty loan feature to get you a loan instantly. It verifies your standing with credit agencies and asks you a series of questions (and document uploads) so you can take out a 6 figure loan directly from its app.
It is free to open N26 bank in USA. There’s no minimum balance, service fees, overdraft fees or maintenance charges.
Visa issues N26 cards in the US. As stated earlier, N26 works with the Allpoint network to provide fee-free ATM withdrawals. N26 card charges are $2 plus 2% of withdrawal amount after conversion to U.S. dollars for out-of-network international ATM withdrawals. There are no insufficient funds fees or maintenance charges. Moreover, there are no extra fees when you pay with your debit card abroad.
- Free instant notifications. For all transactions like withdrawals and transfers in your account, you get push notifications.
- Spending breakdown. N26 categorizes your transactions using artificial technology.
- App support. N26 has no banking premises and you can transact and contact customer care using the app.
- Partnership. Through N26 partnership with other companies, you can get discounts in form on cashback for example in hotels and stores.
N26 USA card selection is pretty decent in our opinion too. First of all, it is a normal chipped debit card that works anywhere Visa is accepted which is everywhere. The standard design is beautiful featuring their minimalistic logo. When it comes to cool cards, N26 wins the battle.
Now for its customer service. For a bank, it is not bad given that have rules to comply and cannot risk fines with the authorities. If some hacker in a foreign country steals your card it may not be that easy to recoup your money as there may be some forms to be filled out. You won’t be out of luck and you will see your money: it just may take a while.
If you are N26 US customer, you don’t have to worry when traveling because you can use N26 card abroad to pay for hotel and other services. Additionally, all N26 cards let you withdraw money at foreign ATMs. N26 does not charge exchange markups and uses the real exchange rate provided by Mastercard.
- Of course, N26 works with Google and Apple Pay, with setup being the easiest we have ever seen.
- You can set deposit and withdrawal limits right on the app: no more calling your local branch to ask for things you could do yourself
- You can log in using your fingerprint reader
- Lost a card? Lock it through the app
- All account activities are shown on the app instantly via push notifications
- Tag transactions yourself, or let the system automatically do it for you. Easy accounting and balancing!
N26 USA operates with a partners bank, Axos Bank, a federally regulated and FDIC-insured bank. This means that customers’ deposits are FDIC-insured up to $250,000. N26 debit cards are protected by Visa’s Zero Liability Policy, which means you won’t be held responsible for unauthorized charges made with your account or account information.
That is it for our N26 review. We much recommend N26 in the USA because it is – so far as we can tell – one of the best banks in the world. If you are looking for an alternative to N26 in the USA or would like to compare it, then have a look at our page where we cover more US virtual bank accounts.
There are several N26 alternative banks that you can use sign up for in case you are not satisfied with N26 USA. Some of N26 alternative virtual banks are:
N26 US support is available over the phone, email and chat via the app.
- Call N26 America at 1-888-626-0626
- Chat directly from the N26 mobile app
- Email at [email protected]