- N26 Standard Mastercard – Transparent debit card.
- N26 Smart Mastercard – Debit card in 5 colors.
- N26 You Mastercard – Debit card with insurance.
- N26 Metal Mastercard – Metal debit card with premium perks.
Overview of N26
N26 emerged as a pioneer of mobile banking, embracing the modern trend of managing banking transactions via smartphones. This innovative approach quickly gained traction. By 2018, the German bank had one million customers, and this number doubled within just a few months. High-profile investors include Allianz X, Earlybird Venture Capital, members of Zalando’s leadership team, Axel Springer SE, and PayPal co-founder Peter Thiel.
Originally established in 2013 under the umbrella of Wirecard Bank AG and named “NUMBER26 GmbH”, it wasn’t until June 2016 that the bank got its banking license. Following this, it changed the name to “N26 GmbH”. Presently, N26 operates across 24 European countries, serving over 8 million customers.
However, like most banks, N26 has faced its share of criticisms. Past complaints have centered on security concerns and gaps in customer support. Regulatory authority BaFin also highlighted the need for improved measures to combat money laundering and terrorist financing. N26 takes these concerns seriously and continuously strives to enhance its services.
Types of N26 Cards
Every card provided by N26 is a Mastercard debit card, and they are only available when you open an N26 bank account. Notably, the German bank does not offer traditional credit cards that provide users with a credit line.
However, these debit cards function much like credit cards. They’re accepted wherever Mastercard is worldwide, facilitating the same kinds of transactions. The primary distinction between a regular credit card and a debit card is the manner of payment: with a debit card, money is debited directly from the account. Thus, you can’t spend beyond your account balance with a debit card, unless you have an overdraft facility on your N26 account.
For a debit card transaction to be successful, there must be sufficient funds in the associated account. In contrast, with a classic credit card, you essentially borrow money for short-term expenses, which are billed at a later date.
Use a credit line with N26 Overdraft
For those with proven creditworthiness, N26 offers the option to access an overdraft facility up to €10,000. This allows you to spend money beyond what’s available in your account, but be aware, this comes with an overdraft interest rate of 8.9% annually.
A notable feature of N26 debit cards is the capability for contactless payments. Mobile payments like Apple Pay and Google Pay can also be used. To achieve this, simply link your smartphone to your N26 Mastercard.
N26 Standard Mastercard
N26 provides a free checking account that comes with a Mastercard debit card. This card lets you pay worldwide without any fees. However, if you choose to withdraw cash in a foreign currency, a fee of 1.7% of the transaction amount applies. Within Germany, you can make 3 cash withdrawals each month for free, but thereafter, a €2 fee is charged for each transaction.
The debit card with the N26 Standard account is virtual, made for online and mobile payments. If you wish for a physical card, N26 offers one for a one-time delivery fee of €10. An additional card can also be obtained for the same fee.
The N26 Mastercard offers good online banking access through your smartphone, with features like real-time push notifications for every transaction. MoneyBeam allows for quick bank transfers.
The N26 app, important for your account, ensures both ease-of-use and security. It’s protected with a password and also offers access via fingerprint or facial recognition.
N26 Smart Mastercard
The N26 Smart account offers a physical Mastercard debit card. This card allows you to withdraw and deposit cash with CASH26 at over 11,500 partner stores across Germany. 5 free cash withdrawals are allowed each month. Moreover, the account provides up to 10 subaccounts, each with individual IBANs and premium partner offers. The monthly fee for this service is €4.99.
N26 You Mastercard
N26 You Mastercard is a debit card with travel insurance included. This covers travel health, cancellations, travel disruptions (including those caused by COVID-19), flight delays, and baggage problems. Additional coverage includes winter sports and mobility insurance for shared vehicles like e-scooters and e-bikes, with coverage up to €20,000.
The N26 You card is made for those who often travel, offering payments and cash withdrawals around the world for free in any currency. The insurance gives overseas medical care, money back for flight and baggage delays, smartphone theft protection, and extended warranties for some purchases.
This service comes at a monthly fee of €9.90. All payments are free, allowing you to spend or withdraw money based on what you have.
N26 Metal Mastercard
For a more luxury banking experience, there’s the N26 Mastercard Metal. Made from high-quality materials, this debit card is for top customers.
Like the N26 You card, the Metal card allows free transactions worldwide, even in foreign currencies. While there’s no initial cost, a monthly fee of €16.90 is needed.
The card offers the insurance of the N26 You, with added rental car insurance (covering damages up to €20,000) and phone insurance (covering theft and damage up to €1,000).
What makes the Metal card special are benefits like better customer service, special deals from some partners, and a modern digital approach. One big bonus is a free yearly membership to WeWork, which offers shared workspaces for freelancers and businesses, along with many discount offers.
Compare N26 Cards
When looking at N26 cards, it’s essential to think about the fees, the features they offer, and how they fit with what you require financially. N26 Standard is a good choice if you want essential banking services without spending too much. For those who often travel or want more advanced features, N26 You and N26 Metal are better options. They provide more benefits and cater to those looking for a premium banking experience.
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N26 Standard Mastercard
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N26 Smart Mastercard
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N26 You Mastercard
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N26 Metal Mastercard
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| Links | Apply now | Apply now | Apply now | Apply now | |
| Kartengesellschaft | |||||
| Partnerkarte | |||||
| eff. Jahreszins | 13.4% | 13.4% | 13.4% | 13.4% | |
| Guthabenszins | — | — | — | — | |
| Girokonto | |||||
| Contactless pay | |||||
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| Apple Pay | |||||
| Google Pay | |||||
| Garmin Pay | |||||
| Fitbit Pay | |||||
| Max. Haftung | €50 | €50 | €50 | €50 | |
| Kosten Ersatzkarte | €10 | €10 | €10 | €45 | |
| Schufaprüfung |
Advantages of N26 Cards
N26 debit cards offer many benefits. They mix traditional payment methods with modern online banking. These are cost-effective and offer new features. Key benefits include:
- Pay and withdraw money all over the world.
- Make contactless payments.
- A free bank account comes with the debit card.
- Overdraft is available up to €10,000.
- Manage everything using the free N26 app.
- All transactions are instant.
- Everything is in English.
- Get push notifications for every transaction in your account.
- You can even send money to people using SMS or email.
- If you are a premium customer, you get comprehensive travel insurance.
Disadvantages of N26 Cards
N26 debit cards have many good points, but there are also some downsides:
- N26 Mastercard is a debit card, not like most credit cards. So, you don’t get a set credit limit. You can only spend the money you have in your account or use the overdraft. If you use the overdraft, you will pay fees.
- Not everything is free. For example, you can only withdraw cash for free worldwide if you have a paid premium card.
- To get an N26 credit card, you need an N26 bank account. This account is free, but if you don’t want another account, this might be a problem. Another bank account can affect your credit score in Germany.
Who is the N26 Mastercard ideal for?
The N26 Mastercard is ideal for those who lead a digital lifestyle. Especially if you often use online services and want to handle your finances anytime, the N26 bank’s offerings are perfect for you.
N26 cards are also an excellent option for school students and college students. Typically, these groups find it difficult to get a credit card because most banks ask for a certain income. But with N26 bank, this isn’t an issue. Why? Because N26’s debit card works by allowing you to spend only what you have, so the digital bank doesn’t ask for an income check.
How to get an N26 Mastercard?
Requirements
If you’re looking to apply for an N26 debit card, make sure you meet these essential requirements:
- Age: You need to be 18 or older.
- Address: You should have a valid address in Germany or in another country that N26 supports.
- Identification: Have valid documents like a passport or a national ID card ready.
- Smartphone: Ensure you have a phone that’s compatible with the N26 app for online banking.
Steps to open an N26 Bank Account
Opening an N26 account is a simple process. Here’s a step-by-step guide:
- Visit the bank’s website.
- In the top menu, click on “Open Free Bank Account”.
- Register using your email address and fill out the required personal information.
- Link your smartphone with your new N26 account.
- Confirm your identity. This is done through a video call where you’ll show your passport or national ID.
- Pick the bank account type you want (Standard, Smart, You, or Metal) and finish the application.
Receiving your N26 Mastercard
After you’ve set up your N26 account, you’ll instantly get a virtual N26 Mastercard in your app. If you want a physical card, or if it’s part of your account package, it will be sent to your address. Expect it to arrive in 5 to 7 business days.
Alternatives to N26 Cards
While N26 sets a high standard in mobile banking, there are other options to consider if you’re primarily looking for a free payment card and don’t require app-based banking. Debit cards from DKB, ING, and Comdirect are viable choices.
If you’re searching for a free traditional credit card that comes with comprehensive travel insurance, the Bank Norwegian Visa Card might be an ideal pick.
Conclusion: N26 – the best mobile bank
N26 cards stand out for their modernity and innovation, mainly through their seamless integration with the smartphone app. This offers numerous features that many traditional banks don’t provide. However, it’s essential to note that these aren’t actual credit cards, but debit cards that may include overdraft options.
Furthermore, using the N26 Mastercard isn’t always without fees. You might receive a free debit card but incur fees for certain transactions. Alternatively, you could choose a card with a monthly fee, allowing free payments worldwide, no ATM withdrawal fees, and added insurance benefits.
Frequently Asked Questions
No, the N26 Mastercard is a debit card. However, it does come with an overdraft facility, allowing customers to spend more than the balance in their account up to a certain limit.
Yes, N26 is a licensed bank headquartered in Germany. It operates with a full European banking license, ensuring that customer funds up to €100,000 are protected under the German Deposit Protection Scheme.
Yes, N26 is regulated by the German financial regulatory authority BaFin, making it as safe as traditional banks. It uses modern encryption methods to secure user data and transactions.
No, while you need a German address to receive your N26 card, you don’t need an official registered address (Anmeldung) or a registration certificate (Anmeldebestätigung).
No, N26 does not require a residence permit. However, you do need valid identification documents, such as a passport or national ID card, to open an account.
Whether N26 Metal is worth it depends on individual needs and preferences. N26 Metal offers a range of premium benefits, including travel insurance, free ATM withdrawals in foreign currencies, dedicated customer support, and exclusive partner offers. If you frequently travel or make international transactions and would benefit from these enhanced features, then N26 Metal could be a good choice.
