Two of the most popular and successful new online banking services are Revolut and N26.

 

N26 now has nearly 6 million users, and Revolut is the leading European bank with more than 10 million as of the last quarter of 2020, putting both on the fast growth track. So if you are looking for a bank to handle your finance, how to decide between Revolut vs N26? We are here to help you make the right decision based on your own needs.

 

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    Before dealing with the advantages of choosing either Revolut or N26, consider the following table of features of N26 vs Revolut showing common features and main differences as we summarize here:

    Feature
    Revolut difference
    n26 difference
    Multiple debit cards
    options for multiple debit cards for each account - besides the physical card, you can create up to 5 virtual cards
    only allows one card per account with max. 2 sub-accounts (N26 Spaces)
    Debit card top-up
    Free by linking the main bank's debit card to the Revolut account and transferring with the app. Also with a bank transfer, debit card or credit card. Not with cash.
    Only the first top-up is free, then there's a 3% fee every time.
    account options
    Choice of 3 levels (Standard, Metal, Premium) for both personal and business
    Choice of 3 for personal and single for business
    ATM Withdrawal
    Free to withdraw €200 a month then a 2% fee per withdrawal
    Three free withdrawals per month then €2 charge per withdrawal.
    Access to cryptocurrencies
    Supports Bitcoin and cryptocurrency
    N/A
    Supports international transfers
    Transfer to 29 currencies with a 0.5% fee for anything above£/€5000 each month plus a flat markup on weekends and in certain currencies
    Only via Transferwise - 0.35% - 2.85% depending on the currency
    Commission on card transactions in a foreign currency
    up to two percent of the amount spent
    nil
    Type of debit card
    offers both Mastercard and Visa
    only offers Mastercard
    Transferring money to other accounts
    to other accounts in the same country is free. 50 cent fee for non-euro transfers e.g. sending sterling to a bank in the UK from Euro country
    Free up to a limit of €1,000 a month - after that 0.5% fee.
    Exchange conversion rates
    Uses Interbank exchange rate with a 1% markup at weekends
    applies the Mastercard exchange rate at all times
    App language availability
    20 languages. Customer support available in English and Polish
    5 languages. Customer support available in English, French, Spanish, German and Italian.
    Multi-currency balance
    24 currencies
    GBP or EUR only
    Withdrawing cash abroad
    withdraw the equivalent of €200 a month free, then 2%
    fee Charges a 1.7% fee
    Banking license advantages
    has a UK banking license, important for business customers in Great Britain.
    Has a German banking license, important for business customers in the EU.
    Interest on savings
    UK saving vault accounts only - 0.8% protected by FSCS up to £85,000
    Euro accounts - up to 1.57% protected up to €100,000
    Access portals
    Mobile only
    Mobile and desktop
    Funds top-up methods
    Bank transfers, debit/credit card top-up
    Cash (DE, IT, AT), bank transfer
    Direct debit currencies
    EUR only
    EUR & GBP
    Unique features
    Can set up recurring payments and direct debit payments to pay for your bills or purchases
    Offer features like overdrafts, interest on savings accounts and other functions similar to normal banks (Germany & Austria only)

    The competition between Revolut vs. N26

    Overall, there is no clear winner in the competition of Revolut vs. N26. Each one has shared general features that are basic to everyone’s requirements, and both are good choices. Making the difference would be things that are particular to your own specific requirements. Digital banks evolut and N26 both provide a variety of services like personal and business accounts, debit cards, and alternatives for money transfers. Both businesses are known for being user-friendly and providing affordable alternatives to conventional banking.

    Digital banking and money transfer companies Revolut and N26 both provide a variety of features and services, including multi-currency accounts and debit cards, as well as international money transfers at a lower price than traditional banks. In terms of services, licenses, costs, and reputation, they differ significantly.

    Revolut has a greater user base and is accessible in more countries in terms of customers. N26 is mostly interested in markets in Europe. In terms of risk, both companies are insured by the Financial Services Compensation Scheme (FSCS) for up to £85,000, which protects customer deposits in case of the bank’s failure. Revolut also has additional regulatory oversight from the UK Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).

     

    Services: A multi-currency account, debit card, travel insurance, cryptocurrency exchange, and cashback function are just a few of the many things that Revolut provides. The primary goals of N26, on the other hand, are to offer a multi-currency account, a debit card, and a mobile banking app. Revolut provides more possibilities in terms of services, like bitcoin trading, savings accounts, and travel insurance. N26 takes a more targeted strategy, emphasizing the provision of a straightforward and efficient banking experience.

    Licenses: The Financial Conduct Authority (FCA) in the UK and the European Central Bank (ECB) in the EU have granted Revolut licenses. N26 also has a license from the FCA and ECB, as well as various other regulatory bodies in the EU.

     

    Fees: Revolut and N26 both charge less than typical banks for services like international money transfers. However, N26 has a straightforward price structure and charges a monthly fee for its premium accounts, whereas Revolut has a tiered pricing scheme and levies varying fees for certain sorts of transactions.
    Reputation:

     

    Both Revolut and N26 are well-known in the industry. N26 is well-known for its user-friendly mobile banking app and simple account setup process, whereas Revolut is well-known for its extensive range of services, including cryptocurrency exchange and cashback features.

     

    Overall, Revolut and N26 are both solid choices for online banking and money transfers, although one may be better suited to your needs than the other. N26 is renowned for its simple account establishing process and user-friendly mobile banking software, whereas Revolut is known for its wider range of services and even boasts a cryptocurrency exchange.

    Find more financial institution comparison:

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