N26 mobile bank, established in Europe, is mainly targeting customers who travel frequently. It offers its customers an application they can access online from their mobile devices. The bank also relies on the quality of the services of its technical support. It is famous for its low costs and exceptional flexibility. Indeed, N26 mobile bank has never ceased to evolve since its inception. It is the first to introduce the concept of mobile banking. It will be understood that this bank is only accessible via smartphones and tablets running on IOS and Android.
Global presentation of N26 mobile bank
At first, the bank was just a start-up that did not have the support of any major bank or organization. Moreover, at first, N26 did not even have a license and therefore had to sign a contract with a German bank. Thus, she could have the rights of an operator. Then N26 teamed up with TransferWise, a second start-up launched in England and specialized in peer-to-peer. The objective of this fusion was to create a Fin Tech hub that will allow N26 to be able to impose an intense competition to conventional banks. It was not until 2016 that the bank eventually obtained its license and began acting as an independent body.
N26 mobile bank features
The bank N26 is available in several European countries such as Germany, Spain, Italy, France, Slovakia, Greece, and Ireland. N26 mobile bank offers free transfers, regardless of the currency used.
It is evident that being able to access your bank account wherever you go is very convenient. The accounts offered by N26 mobile bank are particularly intuitive and are open in minutes from a simple mobile device. They also allow free payments and enable newcomers to get a free Mastercard.
On the other hand, the bank is available into more than 15 countries in Europe since the end of 2016. And its offers are distinguished by greater flexibility. This is mainly due to obtaining the license and the different technologies that the bank has been able to integrate into its system over the years.
Transfers and Payments
Indeed, N26 mobile bank allows its customers to make transfers in record time while ensuring optimal security. The options offered by the bank are even more impressive when you consider the fact that it allows transfers just by using a simple phone number or only an email address.
A similar title, it is interesting to know that the transfers made by this bank are faster than those made via PayPal. Besides, the interface offered by the bank is straightforward to understand and use, and it is difficult to get lost. The application of N26 remains the only portal that allows access to this bank and the customer is notified for the smallest actions that are done on his account.
The payments it undertakes are also entirely free even if the currencies are different. This is a net benefit and extremely interesting for those who are often on the move. Moreover, it is on this point that the bank N26 account to distinguish significantly from the competition.
We regret, however, that the bank does not allow its customers to use checks and cash, which can be extremely annoying in some cases. N26 also does not allow access to overdraft and customers have no way to troubleshoot when needed. That said, in the long run, the fact of not being able to use cash with this bank will be less and less felt since the global trend in Europe, at least, goes to the digitalization of the currency.
Open an account at N26 mobile bank
To open an account at N26 mobile Bank directly go to Play Store or App Store and download its application (N26 Mobile Bank Account). The latter will ask you to fill in some fields such as last name, first name and other personal information and to confirm your registration using the e-mail address. We appreciate the second check imposed by N26 which requires a video verification for more security. Unfortunately, the employees who work for this bank during video assignments only master German and English.
It will be difficult for those who do not even know the bases of these languages to understand them, and we find this unfortunate especially when we consider the improvements made to this essential step to the security of customer accounts.
For example, it was only possible to verify one’s identity through a passport. Today, it is possible to do this with a simple piece of identification. The employee can take a picture of the customer and another one of his identity card or his passport. It is therefore essential to have a device that has a camera of acceptable quality, and that can distinguish the letters and numbers on the ID. There is, however, another solution that involves contacting the bank’s management through social networks.
The free Mastercard card reaches customers within no more than a week. It will be sent as soon as the transfer has been made and the customer will be able to activate it by performing an action such as withdrawal, for example.
Additional information about N26 mobile bank
While the bank was initially named Number26, its name was quickly changed to N26 for practical and aesthetic reasons. For example, in France, this bank is the best in mobile banking and already has more than 200,000 customers at the moment.
Likewise, its competitor Revolut, N26mobile bank can be particularly useful for young students. Indeed they will probably appreciate the free transactions. And also the fact that it does not require monthly deposits to offer the Mastercard credit card for free. In the end, N26 is interesting for those who have no stable income. ANd also who prefer to avoid additional costs to the maximum.
N26 plans to go beyond the 500,000 and the million in just a few years.
What the N26 app offers besides
Its incomparable intuitiveness distinguishes the application accessible via smartphones of the N26 mobile bank. The interface is, and an average user can easily navigate. Also, the user will be notified immediately of the slightest movements on his account. This is hugely reassuring for customers who will know that they will be able to block their accounts immediately in case of attempted fraud. Something that has never happened at N26 yet.
On the other hand, this option allows the client to have a better follow-up on his expenses and thus to have better management of his finance. The user is also free to customize specific parameters and to activate only the functions he needs. It can, among other things, modify the ceilings and tailor the operations that will always be done for free.