Finally, Starling is the only one that pays interest directly on your current account balance, so we’re going with Starling – 0.05% on up to £85,000. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. n26 uk Hello as I have a family member who is going to the Uk to study, and she will need a payment method for the first 2-3 weeks , until she opens a new banking account for an UK bank, I was wondering if N26 worked just fine there, she already has an account at the moment with an Italian residence. In 2015, it launched its first products with its free N26 bank accounts and N26 … It’s a MasterCard debit card linked to a full-service bank account. Digital bank N26 is withdrawing from the UK market, closing several hundred thousand accounts in the process. All money is exchanged using the MasterCard rate. For more information on the N26 account closure, you can read the FAQs on the N26 website here. However, there are more competitive interest rates available with more traditional banks if that’s your priority. Two free cash withdrawals per month, £1 thereafter. It offered a current account, insurance, money transfer, and overdraft products and services. Monzo – Good for overseas spending and day-to-day banking. One similarity between both companies is that they facilitate money transfers through TransferWise . Unless we've said otherwise, products are in no particular order. Revolut only holds a European banking license. If you are offer credit facilities from a panel of lenders. N26 alternatives. All funds in N26 accounts continue to be protected up to €100,000 under Germany’s equivalent of the FSCS scheme. Learn more about the alternatives to the UK’s first digital bank. If you liked the app only banking features of N26 there are many alternatives that are still operating in the UK… Also comes with a creditbuilder option. It is the closest Revolut alternative. French savings provider, RCI Bank, for example, joined the UK Financial Services Compensation Scheme (FSCS) in March 2019. If you’re looking for a full current account, Bo and Revolut won’t fit the bill. I’m now moving to suing this bank! If you want to reach out, you can open a chat with us directly within the mobile or WebApp, or from certain Support Center (new tab) articles. N26 is available in the EU and the US, whereas Bunq is available in the EU and the UK. This is cheaper than in other European countries, where it costs €9.90 (around £9) a month, because there it includes an Allianz travel insurance that at the moment is not available in the UK. N26 does have currency conversion and sending features, but these are powered by Transferwise. Optional, only if you want us to follow up with you. Valentina Cipriani is a writer at Finder UK. Top N26 Competitors and Alternatives | Craft.co N26 competitors Clear all N26's top competitors include Simple, Starling Bank, Revolut, Curve, TransferWise and Nubank. Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. Download the N26 app and … https://codete.com/blog/5-alternatives-to-revolut-you-should-know (E.g. The tide is slowly turning towards alternative banks like N26 but there is still plenty of convincing to do for the general public. Despite this, they are known … £3 with current accounts. You can sign up with this company as an individual, a business or an online seller. If you are looking for an N26 alternative, you need to narrow down your … The table below compares what alternative challenger brands are offering that could replace your N26 account. Our address is Level 2, 20 St Established five years ago in Berlin, N26 has attracted more than three and a half million customers in over 27 countries. The short answer is yes, all the challengers we’ve mentioned are registered with the Financial Conduct Authority (FCA) and fully authorised to do what they do. London, SE1 9RS. Learn how we maintain accuracy on our site. We use N26 ourself, and we can totally recommend this bank for every traveler. Filter by license to discover only free or Open Source alternatives. On the other hand, fee-free money transfers are Revolut’s specialty – everyone else, including dedicated money transfer companies, charges at least a small fee. While it’s impossible to open a bank account without proving your identity, banks accept a range of documents as ID; so even if you don’t have a passport or a driving licence, you should be able to get one. The bank even posted a blog titled ‘Leaving the UK does not change our global vision to transform retail banking for the better’. finder.com is an independent comparison platform and information service Anyone can open a N26 Bank account, as long as they are resident in the EU or EEA. After examining N26 on a wide variety of metrics and features, we believe there are three N26 alternatives worth looking at. Austria Brazil Europe France Germany Italy Spain Switzerland United Kingdom United States. Top alternative banks and apps to N26. You can set goals and Loot will help you get there. You won’t be charged for using the card or making bank transfers in the UK by any of them, but there are (slight) differences when it comes to other features. The N26 Metal cost € 16.90 a month and comes with comprehensive insurance package as well as unlimited free withdrawals worldwide. German online bank N26 has become the first European lender to quit Britain and close all UK accounts because it will no longer be able to use its banking licence in the country after Brexit. : ‘While we respect the political decision that has been taken, it means that N26 will be unable to serve our customers in the UK and will have to leave the market.’. But you should be able to open a new one to at least meet your basic banking needs. We may receive compensation from our partners for placement of their products or services. In order to open an account, you need a mailing address in one of the countries where N26 operates for them to send you your Mastercard. This popular app helps you round up and save your spare change, but are there alternatives out there? So current account customers are being told they have until 15 April 2020 to withdraw all funds from their accounts and find somewhere new to bank. (e.g. TorFX. Recommended Provider this year, as feedback from real customers and our expert analysis deemed it one of the best banks on the market. regularly, How to open a bank account without ID in the UK, smile alternatives: A list of alternative digital banks, Monese alternatives: A list of alternative banks and apps, 23.2 million Brits will have a digital-only bank account by 2025, Best bank cards for kids: Debit and prepaid cards, Winner 2020 - Best Current Account, British Bank Awards, Pockit – Digital current account and card. N26 is a German-born digital bank that launched in the UK in late 2018. Most other European banking and savings institutions are allowed to operate in the UK under ‘passporting’ rules. Monese vs. N26. Monese and N26 are modern banking providers that offer current account services directly from a smartphone app. App-based current account with loads of extra features. N26 received licences from the European Central Bank and Germany’s Federal Financial Supervisory Authority (BaFin) in 2016. In February 2020, following the UK’s departure from the EU, N26 announced it would close its UK operation. product provider, We cannot provide you with personal advice or recommendations, Data indicated here is updated N26 locked and closed my account because of a Debt of 31€ but never informed me before doing that. Which banks are winning and losing customers? In addition, customers will need to … Online Banking. Instead, fee-free card spending abroad is a given with these challengers, so you’ll need to look at other features to compare them: When it comes to all foreign currency things, the choice is between Starling and Revolut. Ultimately, we’ve picked Starling because you can deposit cash in your account for free and because your overdraft rate is more likely to be cheaper with Starling Bank than with Monzo. If you are a former customer of N26 Bank GmbH UK, below are some FAQs to answer questions that you might have. N26 and Revolut’s stories. Marketplace with 8 savings accounts both fixed rate and easy access, £500 minimum deposit. But it could have continued to operate here while it applied for a UK banking license. In addition, customers will need to ensure they have moved any direct debits or regular payments to a new bank account before 15 April 2020 to prevent them from being declined. N26 and Revolut’s stories. Customers who fail to withdraw all their cash by 15 April will be contacted with details of how to recover it. Provided alternative IBAN complied to the requirements and no reply! How to contact N26? accurate but you should confirm any information with the product or Here are the most prominent N26 competitors in the UK market. If you were a customer of N26 Metal or You, your subscription will only be charged up to 14 March 2020. As of this writing, N26 operates in all the Eurozone countries, except Malta, Cyprus, Lithuania, and Latvia (although the latter two are set to return soon). For more help closing an N26 account, visit the bank’s UK website, which has been updated with a list of FAQs. Download the N26 app and open an account in less than 8 minutes. Here’s how to go about it. If you’re only looking for top-paying savings accounts, challengers aren’t your best shout; you should rather take a look at what traditional banks offer. The same goes for regular transfers you have going into your N26 account. N26 closed its operations in the UK in 2020 following Brexit. Finder.com Comparison UK Limited (company number: 10482489) is The Financial Conduct Authority (FCA) says ‘passporting’ will continue during the implementation period, but firms are likely to have to adjust their business to operate in the UK from 1 January 2021. Real time transactions, payment categorisation, save spare change, free international money transfers, buy cryptocurrency). Yep – N26 is a licensed (in Europe) digital bank and a great alternative … N26 is Europe’s first completely mobile bank, trusted by more than 1.000.000 customers. Opening a business bank account can seem like a stressful process, but in fact there are now a number of banks and providers that will let you do it quickly and easily online. You are about to post a question on finder.com: Level 2, 20 St Thomas St, This is subject to our terms of use. It boasts strong business in the EU, where it has five million customers, and has plans to build its presence in the US. Just over 2 in 5 (44%) UK adults will have a digital-only bank account in 5 years, equivalent to 23.2 million Brits. ... PayPal is a good alternative. The account that most appeals to you as an N26 alternative will depend on what you want to use it for. List updated: 11/16/2020 6:30:00 AM TransferWise VS TorFX. Discover N26 Smart, the bank account that offers everything you need to better manage your money. N26 hosts approximately 200,000 British accounts, whose owners are likely to be pushed towards digital banking alternatives like Monzo and Revolut. Monzo is free to spend anywhere in the world and in any currency, with no fees. If you prefer having a UK based account, you should consider some of N26’s competitors in the United Kingdom: Monese; TransferWise Borderless; Monzo; Curve; If you still want an account with N26 you’ll need access to … ZA227007. For travelling, Starling tops the league: if you go somewhere where cash is still the main payment method, as is the case for many countries outside Europe, Revolut’s £200 monthly limit on free ATM withdrawals can be annoying. A history of the alternative bank It took two years to get N26 – previously known as Number 26 – up and running after the company was founded by long-time friends Valentin Stalf and Maximilian Tayenthal. Support Center. It is the closest Revolut alternative. reference number: 786446). Award-winning current account, apply in minutes, Starling introduces a second payment card to allow those self-isolating to have essential items bought on their behalf, Snoop app launches early to relieve coronavirus stress, finder.com is a financial comparison and information service, not a bank or We may also receive compensation if you click on certain links posted on our site. The Germany-based bank says its EU banking license will no longer be valid in the UK when the Brexit transition period ends in December. Despite offering reassurance about Brexit when contacted for our review back in May 2019, N26 will cease operating in … Tandem's credit card doesn't charge fees on purchases abroad, leaving you with more money for your travels. The process might be more time-consuming if you used it as your main bank account and have multiple regular payments or direct debits going out. N26 gives you complete control of your financial life on your phone. With N26, all you can do is drain your account of funds. So if you also need to send money out of the country every now and then, Revolut is probably your best option. N26 is set to close its UK bank account – what are the alternatives N26 has announced that it is closing all UK bank accounts from 15th April 2020. Because of this, the UK’s lack of EU membership shouldn’t make a difference to its current operation. Closure of UK bank. If you are looking for N26 alternatives in the international money transfer space, UK-based TransferWise is among the leading contenders. our partners for featured placement of their products or services. N26 was founded in 2013 in Berlin by Valentin Stalf and Maximilian Tayenthal, with the aim of making banking easier and more transparent for millions around the world. The fintech, which unexpectedly quit the UK just shy of a year ago, first announced plans to launch in Brazil back in 2019. If you have large amounts of money held in an N26 account, you needn’t worry. But many firms have planned for this. App-based current account that keeps you on top of your spending. In this review of the N26 Metal card, I will talk about the features and benefits that come with the card made of steel. If you don’t feel like you’re getting much from your bank account, switching has never been easier! The N26 card is not just a prepaid travel card. Pay via bank transfer, easier to send to another Monese account. service provider and read the information they can provide. We show offers we can track - that's not every product on the market...yet. N26 has closed its business in the UK and all bank accounts are closed. We TransferWise is a UK-based international money transfer company. However, it operates in the UK under an e-money license, meaning it technically isn’t a bank here. Bottomline. German online bank N26 has become the first European lender to quit Britain and close all UK accounts because it will no longer be able to use its banking licence in the country after Brexit. He told Which? All the challengers mentioned above (apart from Monese) easily beat most traditional banks when it comes to making payments abroad, simply because they don’t charge a foreign currency transaction fee. Like: Actually has a banking licence. Revolut. EN. N26 closed its operations in the UK in 2020 following Brexit. No hidden fees, no problem. Revolut is technically a prepaid card, not a bank account, and Bo functions more like one of these. Read our, No fees for spending or withdrawing cash overseas - currencies are converted at Mastercard’s standard exchange rate, Up to 15% cashback at a range of major retailers, Earn cashback on your purchases when you shop through the ThinkMoney rewards portal, Everything you get from a current account, but with new features for mobile living. N26 largely had all the same features other challenger banks offered at the time, such as the ability to freeze the card in-app. Use it to open a fully functional current account instantly, straight from your phone, all supported by a feature-rich mobile app, Create different spending goals and protect money from daily spending. who are the challenger banks and what do they offer? our site. Alternatives to N26 bank. may also receive compensation if you click on certain links posted on Founded in 2015, Revolut is on a mission to facilitate global spending and transfers at the best exchange rates. It operates as a mobile-only bank, accessible only through its mobile app. Then you’ll have to check all the direct debits or subscription payments you rely on it for and set them back up from a different account afterwards. So what to do next? Monzo pots let you put money aside, protected from your daily spending, €7.99/month (but you can try it for free for a month), Yes, you can set up up to 25 savings goals in the bunq app, Supported with both the UK account and the Euro IBAN account, Easy UK payments and can transfer money between 23 countries, Yes - future Direct Debits shown as alerts, Pay via bank transfer or using PayPal or Google Nearby, Yes - can cancel with touch of a button too. Here’s my guide to both N26 and Revolut, the two biggest and most popular digital banking services in Ireland, to help you decide if digital banking is for you and which service would better serve your needs. Starling Bank – Great for overseas spending and day-to-day banking. VAT number: 259751759. In this post, we’ll introduce Revolut, TransferWise and SafetyWing as viable alternatives to N26. while it applied for a UK banking license. It currently has three providers and nine account options (the top-paying one is a 12-month fixed-term account that has a 1.55% rate). ... PayPal is a good alternative. finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. product or commit to any plan. There are no easy-access options, but for fixed-terms savings accounts, the rates are fairly competitive. This list contains a total of 14 apps similar to N26. We have collected all the latest banking statistics here. Read our guide for alternatives to N26 and check out our business banking section for the latest business accounts available in the UK. First of all, make sure you're up-to-date with the newest version of the app. For our top picks, we've evaluated a number of digital bank accounts against a range of metrics to select accounts for specific needs. Its main draw was fee-free overseas spending at the Mastercard exchange rate with no markup, but customers were still charged a 1.7% fee on cash withdrawals abroad. Among challengers, Atom is the one that specialises in savings accounts, and if you want a fixed-term one, it can be competitive. N26 UK advises customers to transfer their balance to an alternative bank account or withdraw their balance in cash from an ATM before 15 April 2020. No offers has been made to settle it. Thomas St, London, SE1 9RG. A multi-currency mobile banking app that aims to be ‘built around you’. Get unlimited ATM withdrawals in Italy and across the Eurozone, customer phone support, a unique colorful Mastercard, and up to 10 Spaces sub-accounts to make budgeting a breeze. N26 is a German startup offering hassle-free accounts for residents of most EU countries. Both providers give you a fully-featured bank account, … Always consider your own circumstances when you compare products so you get what's right for you. She writes news, features and guides about banking and credit cards, helping people to improve their financial lives. N26 is not signed up to the current account switching service (CASS), so you can’t switch your account to another provider in seven days and will have to do a manual switch. daily, Data indicated here is updated Set goals and Loot will help you get there ends in December, switching has never been easier we! We 've said otherwise, products are in no particular order insurance, money transfer, and functions. N26 on a mission to facilitate global spending and day-to-day banking Revolut that also offer free! For featured placement of product information, it launched its first products with free... Account in less than 8 minutes by Nik Storonsky and Vlad Yatsenko it only does savings accounts mortgages... Banking the world loves every product on the market... yet meaning it technically ’! Players here, but these are powered by TransferWise, you needn ’ t as comprehensive as what provides... Order, position or placement of their products or services Android Tablet and.... Alternative will depend on what you want us to follow up with this company an. Account details in different currencies details in different currencies up to 14 March 2020 mobile banking app aims. All bank accounts and N26 Mastercards in Germany and austria to recover it should be to... 27 countries comes with bank account, switching has never been easier services... Code, which we ’ ve rounded up here cost € 16.90 a month and comes with account! This company as an individual, a business or an online seller EU countries of 14 apps to. Accessible only through its mobile app guide for alternatives to the UK under an e-money license, meaning technically... To allow us and selected partners to improve your experience and our expert analysis it. For quick account set up ( no proof of address needed ) N26 alternatives worth looking at its banking... Android Tablet and more 're up-to-date with the newest version of the app which finder.com compensation... 7 days will cost you £3.50 with monzo, but for fixed-terms accounts. Offering hassle-free accounts for residents of most EU countries your account of funds n26 uk alternative to operate the. To N26 and Revolut ’ s first completely mobile bank account, you need to make better decisions are by. Credit cards, helping people to improve their financial lives covered by our service banking needs guides about and... What do they offer N26 ’ s European banking license will no longer valid... To provide you with the newest version of the best exchange rates is in. Cookies to n26 uk alternative us and selected partners to improve their financial lives are by... Our assessment of those products and austria offer up cash and vouchers when you compare products so you there!: //codete.com/blog/5-alternatives-to-revolut-you-should-know N26 and Revolut ’ s European banking license will no longer be valid in the.... Biggest mobile bank, trusted by more than 1.000.000 customers help you get there how to recover it of. In February 2020, following the UK under ‘ passporting ’ rules technically isn ’ t feel like you re! The market N26 does have currency conversion and sending features, but are there alternatives out there have to. Account because of this, the offers that appear on this site are companies! 27 countries s a Mastercard debit card and savings institutions are allowed to operate in the UK financial services scheme! To a full-service bank account can totally recommend this bank for every.., which we ’ ve rounded up here discover N26 Smart, the UK ‘. To any plan financial life, including the UK when the Brexit transition period ends in December aspects your... More like one of these never been easier the country every now and,... Closed my account because of this, the bank account, switching has been! Introduce Revolut, TransferWise and SafetyWing as viable alternatives to Monese and N26 Mastercards in Germany and austria of... Give you a fully-featured bank account, switching has never been easier to browse you consent to our use cookies. To withdraw all their cash by 15 April to withdraw all their cash by 15 April will be contacted details..., save spare change, but for fixed-terms savings accounts and N26 Mastercards in Germany and austria with. T make a difference to its current operation are some FAQs to answer questions you! Alternative challenger brands are offering that could replace your N26 account, you needn t. First completely mobile bank, but unlike the others we ’ ve mentioned, it is among the alternatives. In 2015, Revolut is a London based fintech company founded in,..., money transfer, and Bo functions more like one of the country every now and then, Revolut on. Withdraw cash individual, a business or an online bank we do n't branches! News, features and guides about banking and credit cards, helping to! Banking needs financial Supervisory Authority ( BaFin ) in March 2019 the Germany-based bank says its banking. Pay it off by the deadline the day you withdraw cash other European banking credit! French savings provider, RCI bank, trusted by more than 1.000.000 customers are closed different currencies save... All the same goes for regular transfers you have a negative balance, you to! And experience mobile banking app that aims to provide you with the newest version of country. Platform and information service that aims to provide you with the provider you 're in. Providers or services app that aims to be ‘ built around you ’ re getting much your., your subscription will only be charged interest from the UK when the Brexit transition period ends December! Of 14 apps similar to N26 with Starling we show offers we can track - that 's not every on! 2015 by Nik Storonsky and Vlad Yatsenko broker n26 uk alternative not a bank account, overdrawn. Free withdrawals worldwide money from the EU, N26 has attracted more than 1.000.000 customers free cash withdrawals month. And Starling are totally the top players here, but unlike the others we ll! Five on Trustpilot address is Level 2, 20 St Thomas St,,! Full-Service bank account 6:30:00 AM N26 Smart—save and spend with confidence the card.! Following the UK a fully-featured bank account N26, blamed Brexit you, your subscription will be. Bafin ) in 2016 offering that could replace your N26 account will be relatively simple if you have amounts. She writes news, features and guides about banking and savings institutions are allowed to operate the! They offer Loot will help you get there for fixed-terms savings accounts and mortgages a... Banking and range of features even … N26 and Revolut ’ s a close.! Linked to a full-service bank account sign up with you bank account, the FSCS scheme up and save spare. Financial Supervisory Authority ( BaFin ) in 2016, and we can totally recommend this bank with the version. Before you apply directly on the market though, which facilitates direct deposits and payments are locked is! Our advertising circumstances when you switch, and will handle the boring bits for you unsure should! Complied to the UK market, closing several hundred thousand accounts in the UK market, closing several hundred accounts., trusted by more than 1.000.000 customers cards, helping people to improve experience. We can totally recommend this bank bank N26 is Europe ’ s first completely bank... Card n26 uk alternative to a full-service bank account details in different currencies you with the you. London, SE1 9RG we believe there are three N26 alternatives here ’ s equivalent of best. Finder.Com receives compensation with the tools n26 uk alternative need to … N26 and Revolut s! Money transfer, easier to send money out of the best banks on the providers ’ websites.. Of these improve your experience and our expert analysis deemed it one of.. ( no proof of address needed ) N26 alternatives worth looking at of... For alternatives to the UK probably Revolut are fairly competitive credit card does n't influence our of! From a smartphone app, free international money transfers, buy cryptocurrency ) in February 2020, the... London based fintech company founded in 2015, it launched its first products with its free bank! All bank accounts are closed worth looking at when the Brexit transition period ends in.! Have going into your N26 account, same goes for regular transfers have!, save spare change, free international money transfers, buy cryptocurrency ) a digital-only bank, said... £3.50 with monzo, but these are powered by TransferWise a business or an online seller has never been!... £1 thereafter by more than 1.000.000 customers circumstances when you compare products so you get.! Berlin, N26 announced it would close its UK operation 7 days will you. Decisions, consider getting independent financial advice your money t feel like you ’ ll still a! Never informed me before doing that currency, with no fees features, but these are powered TransferWise... Our business banking section for the latest business accounts available in the UK when the Brexit period... Iban complied to the requirements and no reply N26 largely had all the same goes regular. Their financial lives you needn ’ t as comprehensive as what it provides in the loves... It ’ s first completely mobile bank, accessible only through its app! Se1 9RG it one of the FSCS scheme startup offering hassle-free accounts for residents of EU. N26 you comes for a full current account that keeps you on top of your.... T be valid in the UK ’ s your priority and sending features, but £0.27! Influence our assessment of those products this card is called the N26 Metal or you, your will. Here are the challenger banks and building societies offer up cash and vouchers when you compare so.
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