Account N26, the best way to pay with your iPhone: What is it? How do I open it? What advantages does it have? -


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Friday, 23 February 2018

Account N26, the best way to pay with your iPhone: What is it? How do I open it? What advantages does it have?

Lately you've heard about N26 and you will not know what it's about. Well behind these acronyms is a financial institution based in Berlin and which was founded just 5 years ago and which operates in full online. And if we talk about it, it is because you may be interested in obtaining a bank account and a debit card with them , since they offer many advantages.

The first thing you will ask is whether it is possible to have an account and a card in a German bank if you are a resident in Spain. Well yes it is, and with all guarantees and legality . In fact, when you get an account you get an IBAN that starts with DE, which is the German prefix, but that's not a problem.

And you may be wondering why you need an account at a German bank. Because maybe you are an Erasmus student in a European country or you are a person who plans to spend a few days traveling around Europe or the rest of the world. In this case the conditions are very advantageous , since with your card, which in this case is MasterCard, you can get free money at any ATM in the world, avoiding expensive commissions.

And not only that, you can easily and cheaply transfer money from your N26 account to a foreign currency account , and with a very low commission. As you can see, it only has an advantage and no risks or obligations.

How do I open an account in N26?

Very simple, you just need to have your iPhone and your ID handy. Entering from Safari on your website you will have everything done in less than 8 minutes. The process is simple and intuitive, since filling the different sections you have it ready in a simple and comfortable way . There will come a time even that you will have to make a selfie with clear light so they can verify your face with your identity document. In my case, the process was very fast and without any problems, so that's it, you already have your account done automatically.

How do I apply for the card?

After completing your account you can request a free MasterCard debit card with no commissions that will allow you to operate ATMs around the world, or request a freelance card if it is your case, or finally an N26 Black with comprehensive coverage, at a cost of 5.90 euros per month and which enjoys special protection such as travel insurance and the elimination of the withdrawal fee in foreign currency (not euro). Once requested, in two weeks you have it at home, and you could activate it from the app or the web by entering a code.

And they operate with Apple Pay

One of the most interesting options is that it integrates Apple's payment system, known as Apple Pay , with what paying with your iPhone is a reality , and without a doubt makes N26 a more than recommended option.
How is the app?

Very clear and easy to handle, it is characterized by having a very clean and friendly interface and in all the occasions in which I have used it I have not had any crashes . It also allows you to send or receive money automatically to your contacts thanks to the MoneyBeam function. In case of card loss, you can deactivate it from the same application. Digital banking in its pure state.

Would I be interested in having it?

Well as a secondary account is a very valid option, perhaps not as much as main unless you live in Germany. And because? Very simple, you have an account with foreign IBAN, it may not be possible to domicile basic receipts like water or telephone in an account that is not national. Otherwise, ideal for people who are restless and traveling and very comfortable to make payments, cash withdrawals either in Spain or outside our borders. The low cost of the commissions if you have the basic card, which does not commit you to periodic income or anything similar, makes it very interesting in an increasingly smaller world. And remember that with the N26 black this commission disappears.

And you can also get rewards

Yes, for each friend you recommend N26 and take out the free card the bank will give you 15 euros , which will go directly to your account. Can there be anything better? 

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