N26 is a digital bank that offers a no-fee chequing account and high-interest savings account. It’s easy to manage your money via the N26 mobile app, and N26 is available in several European Union countries. But given its competitive offerings, many Canadians are wondering if they can open an account with N26 bank.
Is N26 available in Canada?
No. Unfortunately, N26 is not available in Canada. The bank has never entered the Canadian market, and has not revealed plans to expand into Canada just yet.
That said, there are several N26 Canada alternatives that offer similar products and features — keep reading for a breakdown of what they offer and how they’re similar to N26.
Top N26 Bank alternatives in Canada
If you’re searching for a chequing account, savings account, or even a multi-currency account, check out these six N26 Canada alternatives.
The Simplii No Fee Chequing Account supports unlimited transactions with no monthly fee. There's no minimum balance requirement to worry about, and you can also make free withdrawals at over 3,400 CIBC ATMs across Canada. And when you need to manage your money, it's easy to do so with Simplii's user-friendly online and mobile banking platforms.
Like N26, the EQ Bank Personal Account combines the easy access of a chequing account with the competitive interest rate of a high-interest savings account. It supports unlimited funds transfers, bill payments and Interac e-Transfers with no monthly fee, and you can withdraw money for free at any Canadian ATM. The account also pays 2.25% interest on your balance, but this rises to 4% if you direct deposit your pay.
No monthly fee or minimum balance requirement
Unlimited transactions
Earn up to 4% interest
Free ATM withdrawals
0.5% cash back on your purchases
Need to have your pay direct deposited to earn maximum interest
No in-person service
EQ Bank Card is a prepaid card that needs to be reloaded
KOHO offers an online bank account with loads of added perks. It pays a very competitive 5% interest on your entire balance and offers cash back on your spending, but the cash back earn rate varies depending on the plan you select. There are three plans available, but the entry-level $4 Essential plan monthly fee can be waived if you set up a recurring direct deposit (a paycheque or government benefits), or load $1,000 to your account each month.
Earn 1% cash back on groceries and transportation, to the 5% interest-earning power and 2% cash back on groceries, eating and drinking, and transportation with the Everything plan
Unlimited transactions
CDIC insured
Monthly fee of $0 only applies when the fee is waived, but the fee can be as high as $19/month
Just like N26, Tangerine's No-Fee Daily Chequing Account supports unlimited transactions with no monthly fee. There's no minimum balance requirement to worry about either, while you also get the convenience of free Interac e-Transfers. And when you need to withdraw cash, you get free access to over 3,500 Scotiabank ATMs across Canada.
The Neo Everyday Account offers the convenient access to funds of a chequing account, with no fees for your daily transactions, no monthly fee and no minimum balance requirement. But it also allows you to earn money on your spending with the Neo Money prepaid card — the larger your balance, the more cash back you can earn.
No monthly fee or minimum balance requirement
Free everyday transactions
Earn up to 3% cash back on gas and groceries and 1% cash back on all other purchases
CDIC insured
Cash back earn rate varies depending on account balance
Wise offers a multi-currency account that lets you send, receive and spend money in 50+ currencies. It's easy to manage your money via the Wise app, and you also get a Wise debit card that lets you pay online and in store in over countries all over the worls, avoiding exchange rate markups and high foreign transaction fees.
Move money globally. Send international money transfers to 73 countries with no exchange rate markup. Easily receive foreign transfers with low or no fees using account details for eight different currencies.
Avoid exchange rate markups
Highly-rated mobile app
Use your debit card in over 160 countries
Fees for sending money
Limited free ATM withdrawals per month
No physical branches
Min. Age
N/A
Account Fee
$0
What is N26 Bank?
N26 is a digital bank based in Germany. Founded in 2013, it’s a fully licensed bank that offers a free bank account for managing your day-to-day transactions. The account comes with a linked debit Mastercard for in-store and online spending, and N26 also offers a savings account that pays between 1.7% and 3% interest depending on the plan you choose.
You can manage your N26 account via an Android or iOS app. You can also use the app to buy and sell cryptocurrencies and, in some countries, invest in stocks and ETFs. And if you have a problem or question about your account, 24/7 chat support is available.
While N26 is not available in Canada, the following countries do have N26 Bank:
Austria
Belgium
Denmark
Estonia
Finland
France
Germany
Greece
Iceland
Ireland
Italy
Latvia
Liechtenstein
Lithuania
Luxembourg
Netherlands
Norway
Poland
Portugal
Slovakia
Slovenia
Spain
Sweden
Switzerland
N26 bank account options
N26 is not available in Canada, but people in the European countries listed above can sign up for the following N26 bank accounts:
N26 Bank Account. Designed to handle your everyday banking transactions, this account has no minimum balance requirement and comes with a debit Mastercard. It supports three free euro ATM withdrawals per month and has no monthly fee in standard form, but you can upgrade to a paid plan to access more features.
N26 Instant Savings Account. Provided through the N26 app, the Instant Savings Account is designed to provide easy access to your funds when needed. It pays typically anywhere from 1.5% to around 3% on its four account plan tiers: The Standard (no monthly fee) plan, the Smart plan, the You plan or the Metal plan. Besides the free Standard plan, other plans typically cost between €5 to €17 per month.
Does N26 offer a credit card?
N26 does not offer a credit card — all of its bank cards are debit Mastercards.
If you’re searching for a credit card from the N26 Canada alternatives listed above, you may want to consider the following options:
Yes, as a digital bank, N26’s mobile banking app is one of its key features. The app is designed to make it easy to manage your money, and you can use it to send transfers, check balances, lock your card, set spending limits and more.
You’ll find similar features in the mobile banking apps of many Canadian banks, including the N26 bank alternatives listed above. One key area where they differ is that N26 does not allow you to deposit cheques, but some providers like EQ Bank and Tangerine accept cheque deposits via their mobile apps.
N26 reviews: What do its customers think?
There are plenty of positive N26 customer reviews online, but the German bank has received some mixed feedback.
Customers who left positive N26 reviews mentioned factors such as the ease of opening an account, the user-friendly mobile app, and the absence of fees. Customers who left negative reviews often complained about poor customer service.
Unfortunately, mixed or even overwhelmingly negative reviews are quite common for Canadian banks. The Big Five all have Trustpilot scores of 2 stars or less, while N26 ratings are higher than providers like Tangerine, EQ Bank, Simplii Financial, Neo Financial and KOHO. But Wise has a solid review score of 4.3/5 from over 234,000 ratings.
Review site
N26 rating
Trustpilot
3.8/5 stars from over 31,600 N26 reviews
Google Play
4/5 stars from over 137,000 N26 reviews
iOS Apple App Store
4.6/5 stars from over 9,400 N26 reviews
Reviews last verified October 2, 2024.
N26 vs Wise
N26 does not offer a multi-currency account, but Wise does. With a Wise account, you can send and hold 40 currencies, plus use your debit card to spend in 160 countries and avoid foreign transaction fees.
Wise also specializes in international money transfers, allowing you to send money to over 75 countries around the world at the mid-market exchange rate.
This is where there’s some crossover between N26 and Wise — you can send an international transfer from your N26 account in 35 currencies, but its transfer service is actually offered through a partnership with Wise.
N26 vs Revolut
The key similarity between N26 and Revolut is that neither is available in Canada. Revolut is a UK-based digital money app that offers a multi-currency account with a linked debit card. It lets you spend money in over 150 countries, send international money transfers and invest in stocks and crypto.
But while Revolut was previously available in Canada, it withdrew its Canadian product offerings in 2021. So if you’re looking for apps like Revolut, check out our guide to eight Revolut alternatives in Canada.
Bottom line
You can’t open an N26 bank account in Canada — but there are plenty of viable alternatives that offer similar account features. Compare the N26 Canada alternatives profiled above to find the right bank account for you.
Frequently asked questions
No, N26 is not available in the US. The digital bank did launch its app in the USA in 2019, but withdrew from the market in January 2022 to focus on its European business.
The Canada Deposit Insurance Corporation is a federal crown corporation tasked with protecting savings deposits. When you deposit money with a bank or credit union that is a CDIC member, up to $100,000 is insured in the unlikely event that the financial institution fails.
Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio
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