Founded in 2013, N26 has developed a mobile banking solution for freelancers and the self-employed. Serving 4.5 million customers across 25 markets, individuals can open a business bank account in Europe with no required minimum deposit amount. Personalized hashtags and automatic categorization helps you keep track of spending without ever touching a spreadsheet. The Spaces feature allows you to set up a digital petty cash fund for trusted colleagues who also use N26.
With two business account options available, customers can choose a free plan that includes free ATM withdrawals in Euros and 0.1% cashback on all purchases made with the business MasterCard debit card. For €9.90/month, the N26 Business You plan includes the same benefits plus no ATM fees in any currency and a comprehensive travel insurance package from Allianz.
Dedicated customer support is not included unless you get the N26 Metal plan which means you will be restricted to online chats for customer service with the other plans. This can be frustrating if you are looking for 24/7 phone support.
Also, it is not currently possible to have two separate N26 accounts, so if you foresee needing a dedicated business account, it is best to sign up for one first. Once established you can request a Maestro card on the same account to use for personal spending. At this time N26 only offers business accounts for residents in Germany, Austria, France, Italy, Spain, Portugal, Ireland, Greece, the Netherlands, Belgium, Luxembourg, Finland, Latvia, Estonia, Lithuania, Slovakia, Slovenia, and Switzerland.
Not sure if N26 is right for you? Register with BankApply to get matched with the right banks for your circumstances. By processing the account applications on your behalf, BankApply takes the stress out of bank account opening in Europe.