Opening a Free Bank Account with N26

N26 has become one of the favorite banks for individuals in Europe. This is for many reasons, ranging from their user-friendly app to their useful integrations like Transferwise as well as their subsidized rates. It simply has become one of the easiest banks you can use in European countries.

The fact that everything can even be done remotely from the comfort of your couch makes N26 really easy considering the multitude of people having to visit a bank and sign many papers to open an account.

Steps to open an N26 bank account:

1. Register for an account
2. Downloading the app for ID verification
3. Linking your account to the app
4. Funding your account

From a non-Euro country

For residents of Poland, Sweden, Denmark, Norway, Iceland and Liechtenstein it’s possible to open a German bank account with N26. The bank account will have a German IBAN in Euros. This is great if you are often in the Eurozone, for work or leisure. Besides, you can do this simply without being a resident in Germany.

N26 available countries

N26 offers accounts to residents of these countries: Germany, Austria, Ireland, France, Spain, Italy, the Netherlands, Belgium, Portugal, Finland, Luxembourg, Slovenia, Estonia, Greece, Slovakia, the UK, Poland, Sweden, Denmark, Norway, Liechtenstein, Iceland, and the USA.

We expect that N26 will also launch in Brazil before the end of 2020.

Registering an account

To register, N26 will require you to provide necessary information such as:

• Name
• Date of birth
• Residential address
• Place of Birth
• Nationality
• 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.

ID VERIFICATION

You can verify your identity by a video call on the app or by visiting a German post office. If you don’t have a German address, you can snap your documents and upload. However, the documents required differ from one country to another. Here are the documents needed for different countries on the N26 app:

The most efficient method of verification for you will depend on your country of residence and the type of ID you want to use to verify yourself.

Link you account to the app

Your phone will be required to do everything related to your N26 account from checking your account balance to transferring money. You can also block your card in case of theft or modify your security settings. Once you have downloaded the app, log in, and pair your phone. If you ever need to change the number you have used, contact the N26 support.

Fund your account

It usually takes a few days for your N26 card to arrive by mail. However, you can start making use of your account by adding some money to your account. You can transfer money to your N26 account using your current bank account or through Transferwise if you don’t have a Euro account

Benefits of an N26 Account

Free ATM withdrawals

Regardless of your location, you can withdraw money from your N26 account at no cost. Most banks will charge between $2 – $10 for a foreign ATM withdrawal.

Instant noticiation of transactions

You will be alerted on all transactions you’ve initiated or payments you’ve authorized or on any money going out and entering your account.

Locking your card

You can easily block and unblock your card anytime using the app. You can also restrict transactions on the account if you suspect any activity on your account without your authorization

PIN Reset

It is pretty straightforward to set up your card pin just as soon as you’ve paired your account with your device. Just select account from the app, go to card settings and choose change pin. It’s that easy!

Currency conversion

You can use your N26 MasterCard to withdraw other currencies besides Euro, the rate is usually ok, especially for freely convertible currencies.

Currency transfers can be done through Transferwise, although if you have to deal with many different currencies on a regular base you might as well opt to open a dedicated Transferwise Borderless account.