The advantage of N26 is that the analytics is significantly better. In summary, bunq has far greater potential and flexibility to manage monthly spending, (and saving), but N26 handles spending analysis much better.Revolut may be more attractive to frequent travelers and those who frequently use foreign currencies, while Bunq may be a better fit for European residents looking for a more sustainable banking experience and local services.Benefits of the N26 service
Unlike traditional banks the N26 app gives you many features that can't be found with traditional banks. N26 does not have any physical offices however most of the time you don't need to visit an office and most of what you need can be done more conveniently with the N26 mobile app.
Can N26 be trusted : 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.
What are the disadvantages of N26
Cons
- 1.7% charge for withdrawing cash abroad with the basic account.
- No bank branches.
- No telephone support and reduced hours chat support.
- No guaranteed financial protection with Brexit.
- No standing orders.
- No overdraft facility.
Can I use N26 for salary : Set N26 as your salary account
Share your new bank details with your employer so they can transfer your salary directly to your N26 account.
Thanks to our European banking license given by the Dutch National Bank (DNB), all deposits from verified users are automatically insured up to €100,000 by the Dutch Deposit Guarantee Scheme (DGS). In the unlikely event of anything happening to bunq, you can rest assured your money is safe.
Bunq's top competitors include Monese, Finom, and Lunar. Monese serves as a financial technology company offering a money app as an alternative to traditional banking. The company provides instant mobile money accounts, multi…
Which bank is best in Germany
At a glance
- N26 Standard – Best bank account in Germany.
- DKB Girokonto – Best for established expats.
- ING Girokonto – Also great for established expats.
- Commerzbank Girokonto Basic – Best bank account at a branch bank.
- Santander BestGiro – Also a great bank account at a branch bank.
With over 1,800 banks in total, Germany has an extremely fragmented but stable banking industry.
- HypoVereinsbank.
- Sparkassen.
- N26.
- Deutsche Bundesbank.
- Postbank.
- Hamburg Commercial Bank. Operational HQ: Hamburg.
- Landesbank Hessen-Thüringen. Operational HQ: Frankfurt.
- Norddeutsche Landesbank. Operational HQ: Hannover.
Controversies
- Account closures. In October 2022, it was reported that over 100 customers had their N26 bank accounts closed unexpectedly and without prior notice.
- Anti-Money laundering compliance issues.
- Business strategy.
- Security incidents.
- Works council.
Withdrawals in the Eurozone are free for N26 customers, and withdrawals worldwide are free for You and Metal account holders.
Can I withdraw money from bunq : you can use your card to purchase on line or in the shops and withdraw cash from an ATM which accepts the cards from Master Card or Maestro. Remember.. the amount of cash you spend or withdraw needs to be on your sub account. Bunq does not offer credit.
How safe is bunq : Last but not least – your money is always safe at bunq 🌈
Your money is 100% safe and you are covered by the Deposit Guarantee Scheme of the Dutch National Bank, up to € 100,000.
What are the disadvantages of Bunq
👎 Disadvantages of Bunq:
There is only one currency available for the majority of plans at bunq, and that currency is euro; transactions in other currencies are automatically converted and the bank charges a fee for that.
Deutsche Bank
There are a total of 200 private banks. Among these 200 private banks, one of the top banks in Germany is Deutsche Bank, at rank 1. Second-tier: The second tier of banks is publicly owned savings banks. There are 400 publicly-owned savings banks.In May 2021 BaFin demanded that N26 take actions to prevent money laundering and terrorism financing. And in June 2021, the bank was fined 4.25 million euros by BaFin for weaknesses in its anti-money laundering system. At least 50 transactions were suspicious and occurred between 2019 and 2020.
What is the minimum balance in N26 Germany : Your money at N26
There's no minimum deposit, no monthly account fees, no charge on card payments worldwide and three free cash withdrawals per month for European customers in their country of residence.