Revolut vs. N26

Both of these European fintech companies are relatively new to the US, but N26 is temporarily closed to new applicants while it seeks a new partner bank. Which one you should choose depends on how you spend and manage your money.

Revolut vs. N26: Side-by-side comparison

Revolut offers a free plan as well as two different premium plans. At the time of writing N26 offers one plan. The following chart compares the N26 plan against the free standard Revolut plan.

	Revolut	N26
Monthly fees and charges	$0 Standard plan, $9.99 Premium plan, $16.99 Metal plan	$0
Domestic ATM charges	Free withdrawals up to $1,200/month. Then 2% of the withdrawal amount	2 free withdrawals per month, then $2 per withdrawal
Foreign ATM charges	Free withdrawals up to $1,000/month for Standard plan, unlimited transactions for Premium Plan and Metal plan. Then 2% of the withdrawal amount	2% of the withdrawal amount
Send money to friends	Free to anyone with a Revolut plan	Free to anyone with an N26 plan
Transfer money internationally	For Standard plans, exchange up to $1,000 in 28 fiat currencies for free — but only on weekdays. For the Premium and Metal plans, exchange in 28 fiat currencies — no monthly limit	N/A
Spending insights	Shows spending by category, merchant, country, and month	Offers insights into where you spend your money, along with monthly reports help understand your spending habits
Freeze your card	Yes: Touch of a button in app	Yes: Touch of a button in app
Interest	4.25% annual percentage yield (APY) for Premium or Metal users with Savings vault and 0.05% APY for Standard users	None
Savings goals	Set budgets in the app and open savings vaults that let you store your money	Spaces feature lets you open subaccounts to stash your money away
Visualization	Spending graphs show which days you’ve spent most/least money	Monthly spending statistics shown in pie chart
Foreign exchange fees	0.5% for spending more than a certain unspecified amount each month, plus a flat markup on weekends and for some currencies	None

Revolut vs. N26: The verdict

Using the app

In terms of the actual app, there’s not much separating these two. Both Revolut and N26 offer stylish graphics and spending insights, categorizing your transactions and showing you how much you’ve spent in a category or at a particular shop. Budgeting with both apps is easy and structured. Both also offer the ability set aside funds for savings. N26 has Spaces and Revolut has Vaults.

Security

Since launching in the US, N26 has provided FDIC insurance through its partner bank, Axos Bank. However, that partnership is ending. N26 is currently closed to new applicants as it transitions to a new partnership with a different, currently unnamed FDIC-insured institution. We spoke with an N26 representative who confirmed that existing accounts will remain FDIC insured during the transition.

Revolut partners with FDIC-insured bank Metropolitan Commercial Bank to protect funds on its prepaid debit cards.

Video: Alex Weber, head of international markets, on why N26 is different

Compare with other financial apps and digital banks

Bottom line

Both N26 and Revolut offer consumers a fully in-app way to control their finances. The products are very similar, but one might be better or you based on your unique needs and preferences.

If you’re considering switching banks, compare other checking accounts to N26 and Revolut before making a decision.