Why did N26 close in the US?

N26′s American customers will no longer be able to use its app from Jan. 11, 2022. The Berlin-based fintech said the move was aimed at shifting focus to its core European business . It's a reminder of how difficult it has been for European fintechs to expand their services in the U.S.

Where is N26 Bank located?

N26 (known as Number 26 until July 2016) is a German neobank headquartered in Berlin, Germany .

Should you trust your bank?

That's because banks have sophisticated security systems and technologies to protect your money and guard against theft and fraud . What's more, most bank deposits are insured by an agency of the federal government.

With N26's full banking license, your money is always protected up to €100,000 with the German Deposit Protection Scheme .

Is N26 available for US citizens?

As a result, our product will no longer be available to customers in the US after January 18, 2022 , and we will be closing all accounts. No other markets in which N26 operates will be impacted.

What is the N26 bank controversy?

Germany's financial regulator imposed a €9.2 million ($10 million) fine on N26 Bank AG after it found the fintech was delayed in submitting reports on suspected money laundering on its systems in 2022.

What is the safest bank right now?

JPMorgan Chase , the financial institution that owns Chase Bank, topped our experts' list because it's designated as the world's most systemically important bank on the 2023 G-SIB list. This designation means it has the highest loss absorbency requirements of any bank, providing more protection against financial crisis.

Can banks seize your money if the economy fails?

Your money is safe in a bank, even during an economic decline like a recession . Up to $250,000 per depositor, per account ownership category, is protected by the FDIC or NCUA at a federally insured financial institution. What happens if my bank fails during a recession?

How much cash can you keep at home legally in the US?

The government has no regulations on the amount of money you can legally keep in your house or even the amount of money you can legally own overall. Just, the problem with keeping so much money in one place (likely in the form of cash) — it's very vulnerable to being lost.

In simple terms, this means that N26—as a bank—needs to act in line with laws that exist to combat illegal activities such as money laundering, financing terrorism, tax fraud, and abusive or fraudulent use of the account . In these cases, access to an N26 account may be restricted, or the account may be closed.

What is the lawsuit against N26?

Germany's financial supervisory authority issued a fine of 9.2 million euros (U.S. $9.6 million) against mobile bank N26 for “systematically” submitting late anti-money laundering (AML) reports in 2022.

Is my money safe with N26?

More than an app: A fully licensed bank N26 is a fully licensed German bank. That means we have the same security regulations as any other bank. It also means your funds are protected up to €100,000 by the German Deposit Protection Scheme .

Will my N26 card work in the USA?

With N26 You, you can withdraw cash for free from ATMs anywhere in the world , and use your N26 You debit card to pay online or in stores in any currency.

Is my money safe in N26?

More than an app: A fully licensed bank N26 is a fully licensed German bank. That means we have the same security regulations as any other bank. It also means your funds are protected up to €100,000 by the German Deposit Protection Scheme .

Love your bank | N26 Bank (2024)

Welcome to the future of banking — manage your money and grow your savings in one beautifully simple app that's trusted by millions.

Open Bank Account

This is how I bank

What’s your unique way of banking? Whether here, there — or even in your underwear — N26 makes banking stress-free, so you can manage your money exactly how you want.

The free bank account that makes life easy

Not a fan of waiting times, hidden fees, or paperwork? Us too. Get a bank account with a virtual card and 24/7 support — and manage your money on the go.

Open N26 Standard Account

Invest in stocks, ETFs, and crypto

N26 customers in Ireland and the Netherlands can now buy stocks and ETFs** right in their banking app**. Pay a flat rate of €0.90 per trade, with 15 free monthly trades for N26 Metal customers, and 5 if you have N26 You. Invest as little as €1 and automate it with our flexible investment plans. Curious about crypto? We’ve got over 200 cryptocurrencies to pick from***.

Learn more

Security is a top priority at N26

N26 operates with a full German banking license, and your bank account with a German IBAN is protected up to €100,000, according to EU directives. And with fingerprint identification and advanced 3D Secure technology, you can rest assured you’re extra safe when making purchases in stores and online.

N26 Smart—save and spend with confidence

Discover N26 Smart, the bank account that gives you more control over your money—with a direct customer support hotline if you ever need help. Choose a Mastercard in your choice of 5 colors and organize your finances with 10 Spaces sub-accounts—including Shared Spaces to save together with others. Plus, get an overview of your spending with Insights, and learn to budget better along the way.

Get bank account

Stay tuned with push-notifications

Keep track of every transaction that comes in and out of your bank account, thanks to real-time push notifications. Whether you’re withdrawing or depositing money, making a transfer or completing a monthly standing order—you’re always kept up-to-date.

Open Bank Account

Get Insights into your spending habits

Not sure where all your money's going? Our Insights feature automatically categorizes your spending in real time. Track regular expenses, keep a pulse on your costs, and spot opportunities for savings. Everyday budgeting has never been easier.

Learn about budgeting

Reach your goals with N26 Spaces

Give your financial goals room to grow with N26 Spaces sub-accounts. Personalize each space with a name, set your savings target, and easily stash savings aside with just a few taps. Rather set it and forget it? Easy—create Rules to regularly move money over to a space, or try Round-Ups to save up the spare change whenever you pay by card.

Make payments the easy way with Apple Pay

Tired of carrying your wallet around? We get it—which is why you can link your N26 Mastercard to Apple Pay for effortless payments right from your smartphone. Apple Pay lets you make secure, contactless payments online, in stores, or even in-app. Each transaction is verified by touch or face ID, and takes place in real-time. It’s the simple, safe, 100% mobile way to pay.

Try Apple Pay

N26 Support is here for you — in several languages.

If you have any questions or run into any problems, our N26 Customer Support team is always on hand to help you in English, French, German, Spanish and Italian. Just reach out to them via email or chat to an N26 expert right in your app.

Visit our Support Center

*N26 Instant Savings account interest rates are based on your main N26 Membership, for both personal and business accounts: 1.7% p.a. for Standard and Smart, 2% for You, and 3% p.a. for Metal (before taxes), as of 1.8.2024. Interest rates p.a. are equivalent to AER in Ireland and TANB in Portugal (before taxes).Please note that rates per membership are variable and can be changed by N26 over time.** These statements are intended to provide general information and do not constitute investment advice or any other advice on financial services and financial instruments such as stocks and ETFs. These statements also do not constitute an offer to conclude a contract for the purchase or sale of stocks and ETFs. Stocks and ETFs can be subject to high fluctuations in value. A decline in value or a complete loss of the money invested are possible at any time. The values depicted are fictional and for illustrative purposes.*** The market for crypto assets constitutes a high risk. A complete loss of the money spent is possible at any time. N26 Crypto is powered by Bitpanda.

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