What could you do in 8 minutes? Listen to some music? Watch a video on Youtube? Read an article? Find your next travel destination on this blog?
Now you can open a bank account in just 8 minutes. This is possible thanks to N26, a fin-tech startup, that managed to obtain a full bank license from the European Union in few months.
N26, Number 26 before, is an app for Android or iOS that will allow you to run your bank account directly from your smartphone, starting with the registration.
In just 8 minutes you could obtain an IBAN and have a debit MasterCard posted directly to your address.
The registration process is quite easy, even if you’re not a tech fan: you will be asked to insert all your personal data and an operator will video call you to verify your identity.
Mind that you mandatory need a passport to join the world of N26.
Which are the differences from the other banks?
First of all, N26 is not a physical bank. But this turn to be an advantage, in fact, you’ll not have to look for the ATM of your bank to withdraw some money. You will be able to withdraw from any ATM in the euro area for free.
N26 is strongly focused also on security: you will receive push notification for each transaction both ingoing or outgoing. Moreover, you will have the possibility to set your own pin for the card and to block/unblock it with a tap from the app.
N26 basic account is free. This plan includes:
- Free international transfers in 19 currency
- Moneybeam, a service that permits to send/receive money from all the N26 user in real time and free
- Free withdrawals in all the ATM of Euro area
Where are the advantages for travelers?
The answer is N26 BLACK. A premium plan that, with the partnership with Allianz, will offer you for only 9,90 euro monthly (119 yearly) the following services:
- Black World Elite MasterCard
- Free withdrawals in any currency (without commissions)
- Travel health insurance
- Refund if your flight has more than 4 hours of delay
- Refund if your luggage will arrive with more than 6 hours of delay
- Travel cancellation insurance
- Extended warranty of up to one additional year for qualified purchases
- Mobile phone theft coverage
- Cash theft coverage
N26 Black is available only in: Austria, France, Germany, Ireland, Italy and Spain
Definitely, the N26 black is the card you would like to have with you abroad, even in the worst situations.
The only way to charge the account is with a bank transfer.
Check out other T-Apps