N26 Vs REVOLUT – Are you going on a trip soon and want to avoid bank charges abroad?Finding the best bank for traveling is far from easy. It took me years to finally find a satisfactory service.In this article I draw up
a comparison between N26 and Revolut to help you choose between these two neo-banks
N26 Vs REVOLUT
N26 BANK PROFILE
N26 is a German online bank created in 2013 which wants to expand throughout Europe and reach 18-35 year olds (but of course anyone can register, even if you are 100 years old) . Today, N26 is enjoying great success since it had more than 2 million customers at the start of 2019.
REVOLUT BANK PROFILE
Revolut is an international online bank created in 2014 recognized for its numerous applications at the cutting edge of the latest technologies. It arrived in France in September 2018 and can claim to already have 400,000 customers in France and more than 3 million worldwide.
Comparison of basic offers
| N26 Vs REVOLUT | N26 Standard | Revolut Standard |
|---|---|---|
| Account management | ✅Free | ✅Free |
| Send card | ✅Free | ✅Free |
| Minimum usage | ✅None | ✅None |
| Card type | MasterCard | MasterCard |
| Payment by card in € | ✅Free | ✅Free |
| Payment by card in foreign currency | ✅Free | ✅Free |
| Withdrawal in € | 5 free withdrawals/month, then €2 per withdrawal | 200€ per month free then 2% |
| Withdrawal in foreign currency | 1.7% of the amount | 200€ per month free then 2% |
| Transfer outside SEPA zone | 0.5-1.5% depending on the country | ✅Free |
| Discovered | Shortly | ❌ |
| Check | ❌ | ❌ |
| Consumer credit | ✅ | ❌ |
| Insurance and assistance | ❌ | ❌ |
| Customer service | Chat via app | Chat via app |
| Learn more | Learn more |
THE BASIC N26 OFFER
- Opening the account and MasterCard are free
- You will be able to withdraw cash in euros for free up to 5 times per month (withdrawals are then charged at 2 euros)
- You will be able to pay by credit card for free and unlimitedly whatever the currency.
For example, if you are in Spain and you withdraw 100 euros from the ATM, N26 will charge you 0 euros, because it does not charge withdrawals in euros (but from the sixth withdrawal of the same month you will be charged 2 euros). On the other hand, if you travel to Sweden or Thailand and you withdraw 100 BATH from the ATM for the latter, N26 will charge you 1.70% in withdrawal fees and you will therefore be charged 101.70 BATH. Once again, bank card payments remain completely free and unlimited, regardless of the currency.
Who is this offer for and is it of real interest?
In my case, this offer does not really suit me, because I am constantly on the road. On the other hand, it may be suitable for those who go on a trip for a few weeks, or even one or two months a year and mainly in Europe. Please note that no real bank currently offers such low foreign currency withdrawals!
THE BASIC REVOLUT OFFER
- Opening a free UK account
- Withdrawal from ATMs free of charge up to €200 per month
- Payments in over 150 currencies at the interbank exchange rate
Revolut bank offers a multi-currency payment system that is really practical when traveling.
Who is this offer for and is it of real interest?
This offer does not suit me either because the withdrawal limit is too low and payments in other currencies still cost money, even if there are no hidden fees.
N26 Vs REVOLUT Premium offers
| N26 Vs REVOLUT | N26 You €9.9/month | Revolut Premium €7.99/month |
|---|---|---|
| Account management | ✅Free | ✅Free |
| Send card | ✅Free | ✅Free |
| Minimum usage | ✅None | ✅None |
| Card type | MasterCard | MasterCard |
| Payment by card in € | ✅Free | ✅Free |
| Payment by card in foreign currency | ✅Free | ✅Free |
| Withdrawal in € | 5 free withdrawals/month, then €2 per withdrawal | 400€ per month free then 2% |
| Withdrawal in foreign currency | ✅Free | 400€ per month free then 2% |
| Transfer outside SEPA zone | 0.5-1.5% depending on the country | ✅Free |
| Discovered | Shortly | ❌ |
| Check | ❌ | ❌ |
| Consumer credit | ✅ | ❌ |
| Insurance and assistance | ✅ | ✅ |
| Customer service | Chat via app | 24/7 support |
| Learn more | Learn more |
THE N26 YOU OFFER FROM N26
The other offer, which to me seems suitable for travelers or those going on a world tour, is N26 You (which is a World Elite card). It’s a bit like the Gold card at MasterCard or the Premiere at Visa.
For €9.90 per month with a one-year commitment (i.e. 118.80 euros per year), you will be entitled to:
- to a You World Elite Mastercard
- free and unlimited withdrawals anywhere in the world and in any currency
- free and unlimited bank card payments, whatever the currency
But also and above all you will be entitled to an insurance package with their partner Allianz:
- flight delay and baggage insurance
- travel insurance that covers you for 90 days abroad
- winter sports and ski insurance
- self-service car, bike and scooter insurance
You can find the different clauses of the travel insurance contract here .
Who is this offer for and is it of real interest?
If you are planning to go on a world tour or travel quite often to the four corners of the globe then this offer is one of the most interesting on the market.For 9.90 euros per month you can withdraw cash in any currency and as many times as you want. No need to carry around with a fortune in your pocket!Insurance is very interesting since it allows:
- reimbursement of medical and hospital expenses in the event of a medical emergency while traveling (up to 90 days after departure)
- reimbursement of costs incurred during a flight delay of more than 4 hours
- reimbursement for expenses incurred if your checked baggage arrives at least 6 hours late
- reimbursement of stolen money if you are attacked up to 4 hours after making a withdrawal with your N26 You card
This insurance is sufficient to cover major and urgent problems while traveling (this is the type of insurance that you must provide when you apply for a visa for China, for example).
If you plan to travel for more than 3 months, then you will simply need to take out and start your travel insurance in the fourth month. This still corresponds to around 200 euros saved for a world tour!
You can find my article on travel insurance here .
REVOLUT’S PREMIUM OFFER
Revolut also offers a more interesting offer for travelers. The Revolut Premium offer includes a Premium card in the design of your choice. Just like the N26 You card, it is in some ways the equivalent of the Gold card at MasterCard or Premiere at Visa.
For €7.99 per month with a one-year commitment (i.e. 95.88 euros per year), you will be entitled to:
- to a Mastercard Premium card
- €400 in fee-free withdrawals worldwide
- Unlimited payments, transfers and exchanges with the interbank exchange rate.
But also and above all you will be entitled to an insurance package with their partner Revolut Travel Ltd:
- Emergency medical and dental care worldwide
- Compensation for delayed flights and baggage, paid directly to your Revolut account
- Medical insurance for 90 days
Revolut’s Premium offer includes a really nice extra when you travel a lot: free access to more than 1,000 airport lounges around the world with the LoungeKey Pass.
Who is this offer for and is it of real interest?
If you plan to travel for long periods, this offer is very interesting, especially as it also allows access to cryptocurrencies.For €7.99 per month, you can withdraw up to €400 in cash in any currency.The insurance is less comprehensive than that offered by N26 but it does however offer:reimbursement of medical and hospital expenses in the event of a medical emergency while traveling (up to 90 days after departure)reimbursement of expenses incurred during a flight delay or lost baggage
Which bank to choose between N26 and Revolut?
Finding the best bank for traveling is far from easy. It took me years to finally find a satisfactory service. For my part, I found my happiness at N26. I find the offer more complete, not only with regard to the amount of withdrawals, but also and above all in terms of insurance. It is very important to be well insured when traveling because a simple injury can really ruin the whole adventure.
N26 allows you to make big savings on banking fees abroad, but so does Revolut thanks to its multi-currency accounts and international transfers. Revolut is really an interesting bank when you spend your life traveling. On the other hand, if you only go a few weeks/months per year, I recommend N26.
To summarize, I recommend Revolut to long-distance travelers and N26 to more occasional travelers!
FAQs
Do you need a smartphone to use N26?
Yes, necessarily.
Are cash withdrawals anywhere in the world really free of charge?
Yes. A withdrawal from an ATM costs you €0: note that some ATMs charge a commission, but you will be informed in advance so you can cancel the transaction and find another ATM!
Are transfers really free of charge?
Yes whatever offer you take
What is the exchange rate for withdrawals, payments or transfers? Do they take a commission?
No None ! The exchange rate applied is that of Master Card . Neither more nor less 🙂
If I want to send money from my current account to my N26 account, is it free of charge?
This depends on your current bank and not N26. But if your account is in the SEPA zone, then yes the transfer will be free of charge (0 euros).
I have already purchased my plane ticket and I have just opened a You account with N26 or Revolut. So I did not buy the plane ticket with their credit card. So am I still insured for the 90 days?
Unfortunately no. The insurance is only active from the moment you have purchased your plane ticket with the N26 or Revolut card. The first day of insurance begins on the first day of travel.
Can this account be closed easily? Is it free?
Yes, it is possible to close the account directly from the mobile application or from the user interface on the website. It’s free of charge (0 euros). You can therefore use the account to travel and then close it when you return if you wish.
Please note that there is a minimum one-year commitment.
Do I have to declare this account?
From the point of view of the law you must declare this account, but don’t panic, just tick the appropriate box on the tax declaration form .
You won’t be taxed on it at all, because you don’t plan to make any money with this account.
What are the other free options that exist?
There are a few, but here are the ones I tried.
Transferwise : I also use Transferwise as a backup solution. Opening an account is completely free and it is possible to make international multi-currency transfers. Withdrawals are free up to 200 euros per month. Then you only pay a small conversion fee, between 0.35% and 2.
