Why did N26 close?
In 2019 N26 also launched its application in the US while providing actual banking through a third-party partner. Then in November 2021, N26 announced in their corporate blog that they were ceasing operations in the US to sharpen their focus in Europe with account closures being finalized in early 2022.The security of your money is always our top priority at N26. And not only is your bank account protected up to €100,000 by the German Deposit Protection Scheme, but it also comes packed with a series of intelligent features that keep your funds safe. For more information, check out Security at N26.At the moment, we're focusing our efforts on our core markets and are no longer offering N26 accounts in the UK. If you have any questions regarding your former account, take a look at our FAQs. For the latest news and information about N26, please visit our N26 blog.

Is N26 an actual bank : A Spanish online bank with German roots

By joining N26, you enjoy the best of both worlds—your bank account comes with a Spanish IBAN for effortless local payments, and your money is guaranteed up to €100,000 by the German Deposit Protection Scheme.

Is N26 still operating

As a result, our product will no longer be available to customers in the US after January 18, 2022, and we will be closing all accounts. No other markets in which N26 operates will be impacted. It has been an incredible journey, and we're proud of everything we've accomplished with your help and feedback.

What is the financial crime of N26 : N26 is committed to combating and preventing financial crime. One of the ways we do that is by complying with major sanctions regulations as well as the local regulations of the markets where N26 operates.


  • 1.7% charge for withdrawing cash abroad with the basic account.
  • No bank branches.
  • No telephone support and reduced hours chat support.
  • No guaranteed financial protection with Brexit.
  • No standing orders.
  • No overdraft facility.

They both have good features. N26 is cheaper but offers more features. And the premium options of N26 are more expensive than the premium options of Revolut.

Is N26 safe in Germany

N26 is a fully licensed German bank. That means we have the same security regulations as any other bank. It also means your funds are protected up to €100,000 by the German Deposit Protection Scheme.Some industry observers have chalked up N26's US failure to reasons like “global banking is hard,” and “the US is a hostile regulatory environment.” These might be contributing factors, but the seeds of N26's US failure were sown right from the very start of its launch in July 2019: 1) Incorrect market assumptions.It's not the first time N26 has faced scrutiny. The bank was fined 4.25 million euros by the German financial regulator Bafin for delayed anti-money laundering reporting in September 2021, and Reuters reported that four N26 managers were being investigated by public prosecutors in February over fraudulent accounts.

Similarly, when it comes to taking out cash abroad N26 will offer you a charge of 1.7% on all transactions, while Revolut offers free transactions up to €200 a month with a 2% charge added after this limit. This is far better than the current 3-4% offered by most Irish banks.

What if Revolut goes bust : Safeguarding helps protect you. It means if we became insolvent (unable to pay our debts), you'll get your money first.

Is Bunq or N26 better : Overall, Bunq is suitable for individuals seeking advanced digital banking features and a sustainable approach, while N26 caters to customers looking for a straightforward banking experience with additional services and a range of account options.

Is Revolut Russian owned

Nikolay Storonsky (born 21 July 1984) is a Russian-born British businessman. He is the co-founder and CEO of the financial technology company Revolut. Storonsky was born into the family of a senior Gazprom manager.

Safeguarding helps protect you. It means if we became insolvent (unable to pay our debts), you'll get your money first. Our customers' claims would be paid out from our dedicated client money bank and asset accounts, before anyone else's claims are paid out.FCA investigating Revolut over transactions from 'suspicious' accounts. The Financial Conduct Authority (FCA) is reportedly looking into whether Revolut should have allowed transactions from suspicious accounts.

Should I keep all my money in Revolut : As a regulated financial institution, 100% of your deposits are safeguarded.