N26 Business Account Review [2024]: Features, Fees & Alternatives

What is N26?

N26 is a German 100% mobile bank. It was formerly operated as Number 26 before obtaining a full European banking licence from the Federal Financial Supervisory Authority (BaFin) in 2016.

With headquarters in Berlin, N26 Bank provides financial services to over 7 million customers in 24 countries. It is also one of Europe's top three largest fintechs by market capitalisation. 

N26 Bank provides current accounts for personal and business clients. As a fully licensed German bank, funds deposited with N26 are protected under the German Deposit Protection Scheme.

N26 was named The World’s Best Bank by Forbes in 2021.

N26 Pros and Cons

Featured Reviews

Elaine rates N26 ⭐⭐⭐⭐⭐

A great Neo bank with packages to suit all.

I have an N26 Smart business account for almost 2 years now. My experience has been very positive and I would highly recommend them as a modern Neo bank.

Recently, I fell victim to a scam website and the N26 customer service was very supportive, and they helped me to get my money back very quickly.

Source: Trustpilot review

Bo Kamstrup rates N26 ⭐⭐⭐⭐

N26 is very suitable for a small business…

N26 is very suitable for a small business with a simple business concept. The app is very good indeed and the functionality regarding anti fraud and misuse of Mastercard® is brilliant.

Source: Trustpilot review

N26 Features

Business Accounts

N26 offers four tiers of business current accounts: N26 Standard, N26 Smart, N26 You, and N26 Metal. They are designed for individual freelance or self-employed users.

With an N26 business account, you can send and receive euro payments through SEPA bank transfer. Additionally, you can transfer, request, and receive instant payments from other N26 users with MoneyBeam. The N26 business accounts also support SWIFT payments.

N26 has partnered with Wise to facilitate internal transfers in multiple foreign currencies and does not provide in-house foreign exchange services. However, this integration is currently not available for business customers. We were unable to find if N26 Bank supports multi-currency business bank accounts.

The table below shows some key features of each N26 business account.

Payment Cards

All N26 business accounts come with virtual and physical cards that allow contactless, mobile, and unlimited fee-free card payments in any currency worldwide. N26 Standard customers can request a physical card for €10, which is free for other tiers.

N26 Standard, N26 Smart, and N26 You can benefit from 0.1% monthly cashback on all N26 Mastercard® spendings. N26 Metal also gets the same feature but receives 0.5%.

N26 Crypto

Every N26 business user can instantly trade almost 200 coins, including Bitcoin and Ether, with a simple and convenient app experience through the same N26 app for banking. 

Other Services

N26 also provides additional services apart from current accounts, including:

• CASH26: Deposit and withdraw money at thousands of retail stores in eligible countries by generating a scannable barcode in your N26 app.
• Overdraft: N26 offers an overdraft facility at an interest rate of 8.9% for your business spending needs. Interest is charged quarterly and debited from your N26 account.
• N26 Insurance: You can also protect your laptop, tablet, smartphone, and smartwatch in cases of theft or malfunctions with the N26 Insurance plans.

N26’s Feature Rating is 4/5

N26 offers comprehensive features that cater well to freelancers and the self-employed. It provides versatile banking solutions and modern features. However, the specificity of services tailored exclusively to individual business users limits their applicability to a broader range of potential users, such as companies, who could benefit from these features.

Nevertheless, the inclusion of cryptocurrency trading, solid fundamental banking capabilities, and a secure mobile banking app make N26 a noteworthy option for business customers.

Fees Charged by N26

N26’s fees may vary slightly depending on your country of residence. Accounts opened with an address in Germany, Austria, France, Spain, or Italy may have different fees for some additional services than the rest of Europe. For accurate pricing, we recommend you consult the specific price list for each country. 

Below are the standard fees charged by N26 in most European countries.

Business Account Fees

Card Fees

Transfer Fees

N26’s Fee Rating is 3.5/5

N26's fee structure is fairly competitive, particularly for users who choose higher-tier accounts to access more benefits. The free Standard Business Account is also accessible for new or low-volume users. 

However, while premium users can benefit from free ATM withdrawals in other currencies, the 1.7% fee for standard accounts is slightly high. The costs associated with certain transactions are also a consideration for frequent transactors.

N26 Customer Support

If you have a bank account with N26, you can contact the customer support team via a secure chat through the N26 app. The chat support is available daily, including weekends and bank holidays, from 7 a.m. to 11 p.m. CET. You can also chat in English, German, French, Spanish, and Italian.

Phone support is only available for premium account customers (N26 You, N26 Smart, and N26 Metal), and you must call from the number registered in your bank account. 

For general enquiries, you can contact N26 through a visitor chat on their website or by emailing support@n26.com. 

N26 does not have a physical branch. 

N26’s Customer Support Rating is 3/5

N26 offers multi-channel customer support with online chat in the app and exclusive phone support for premium accounts. However, the lack of 24/7 support and phone access for all customers could be potential areas for improvement. 

Eligibility Requirements for Opening an N26 Business Account

To be eligible for an N26 business account, you must be:

• A freelancer enrolled in a profession, such as architects, lawyers, pharmacists, and nurses.
• A self-employed or individual entrepreneur with a VAT number, such as designers, photographers, electricians, or owners of B&Bs and holiday homes.
• A sole proprietorship registered in the Business Register of the Chamber of Commerce.
• Based in a European country. 

Partnerships and companies are not eligible to open an account with N26 Bank. You cannot open a business account if you already have a personal account with N26.

As an app-based bank, you can apply to open an account online through the N26 app or their website. The application will take around 10 minutes, and you can access the account once you have completed the identity verification process. 

The Ease of Opening an Account for N26 is 4/5

N26 provides a relatively easy and efficient process for opening a business account. The specific eligibility criteria ensure a focused service but also limit the potential user base. 

Overall, N26 provides a convenient and user-friendly digital banking experience that fits the needs of freelancers and individual business users. 

N26 Alternatives