Fact checked! This material is written by an expert.

9 min read 09.08.2021 48

N26 Italia: The Best Mobile Bank in Italy?

N26 is gradually becoming a household name in the financial technology space. The mobile bank has a number of products and services that makes it one of the best mobile banks in the world. If you are not familiar with N26, it's about time you found out about it. The mobile bank is still adding new services and features to make it easier for its customers. Simple and quick mobile banking is the goal of N6 and they seem to be making good on that promise.  This askwallet article will look at all the services and products that are available to italian users and why N26 is one of the best mobile banks in Italy.

Ibrahim Busari
Ibrahim Busari
Ibrahim is a fintech writer at AskWallet

Fact checked! This material is written by an expert.

9 min read 09.08.2021 48

What exactly is N26?

N26 is a strong service that provides some of the same services as a traditional bank but in a fully digital format. They have a lot to offer, from cash withdrawals at ATMs to international money transfers at low exchange rates. N26 consumers may open several sorts of bank accounts, as can business users, who can also create accounts for their activities.

Some neobanks, such as Monese and Revolut, operate on the "prepaid" principle, which means that a payment transaction may only be completed if the account is properly filled. N26's overdraft facility is a wonderful alternative that you can set up immediately from your app, along with other accessible financial solutions. Users of N26 are eligible for an overdraft of up to 10,000 EUR. Currently, this service is only offered in Germany and Austria. Please keep in mind that N26 charges an 8.9 percent interest rate on your overdraft.

N26, being a German bank, offers bank accounts with a German IBAN. Since March 2020, it is offering Italian IBAN (applicable only to accounts opened March 26, 2020, and only for Italian residents).

Mobile bank №1 in Italy

As a fully functioning mobile bank N26 has become one of the best mobile banks not only in Italy but in Europe in general. It is quite easy to see the reason why N26 has risen to the top of mobile banking in Europe. It provides a number of services and features that makes the transfer of funds, taking charge of your finance and many more easier. 

Whether you are looking to make a SEPA transfer for your business or personal needs or you are looking for a card to make payment. N26 can do that and more for you. Lets look at some of these services provided by N26: 

N26 services

N26 accounts

The mobile bank provides a handful of accounts for users. N26 provides 4 different account options for personal banking and business banking for its clients. We will be breaking down some of the features of each account so you can further look at the pros and cons of the accounts provided. 

N26 Standard Account

The standard account is the free version of the mobile bank that is probably the most popular account amongst users. It comes with a number of features that makes it very attractive to many potential consumers. When you apply for the standard account you will get: 

Free Virtual MasterCard 

N26 provides start account users with a free virtual card powered by MasterCard. Users can also add the card to their google or apple pay and pay right from their smartphones. Consumers can rest knowing that the virtual card will be accepted regardless of where you are residing. The card also facilitates ATM cash withdrawals via NFC enabled ATM machines.

Push alerts are delivered instantly.

Start receiving quick push alerts for any and all recent transactions, ensuring that you are informed of any incoming or outgoing payments as they occur.

Security

Use fingerprint identification or FaceID to authenticate your identity and access your free bank account to make your banking login even more safe.

Mobile App

An intuitive mobile app and web based app that allows users to take control of their finances. Users can check their transaction and keep track of their transaction 24/7.

N26 Smart Account 

This account gives you even more control over your funds and many more features. With just a 4.99 Euro fee, users cna get access to all of the free services that come with the standard account, as well as, some features from the premium account. This is a mid tier subscription that is perfect for the person who is looking to have more control of their finances on the go either with the N26 mobile app or website. 

Take advantage of exclusive deals from international associate brands. With N26 Perks, you can pick from a constantly updating variety of offers from companies like Blinkist, Mubi, and Lime, and save money with significant discounts on a yearly basis.

Users of the smart account not only get the free virtual debit card powered by MasterCard. They also have access to a physical card that is also powered by MasterCard. Consumers can select between an array of colors for their physical credit card including Ocean, Sand, Rhubarb, Aqua or Slate. With N26 Smart account, you can get up to 10 sub-savings accounts.

N26 You Account 

This account and its services are more geared towards travellers who are looking for the best mobile bank and best travel card all in one. There is a lot to like about this service provided by N26. The cards that are provided under this subscription come with a number of perks that will brighten any traveler's day. Let's look at some of the features provided by N26 You: 

Alerts of transactions on a real - time basis. 

You'll receive a notification whenever money enters or exits your account, whether it's a transfer you made or a pre-authorized payment.

Mobile Payments 

As other N26 services you can easily add the card to your apple wallet and pay with Apple pay or Google pay. 

Travel Insurance 

Are you planning to travel overseas for work or for fun? N26 You will help you prepare for something unpredictable. Your membership comes with a variety of travel advantages that cover you globally, including coverage for epidemic and pandemic claims* connected to COVID-19.

Card

Users of the You account not only get the free virtual debit card powered by MasterCard. They also have access to a physical card that is also powered by MasterCard. Consumers can select between an array of colors for their physical credit card including Ocean, Sand, Rhubarb, Aqua or Slate. 

It's inconvenient to lose your card and have to wait for a new one to come, which is why having a spare is a good idea. To ensure that you always have access to your money, you may get a second Mastercard via the N26 app.

N26 Metal Account

This is the premium account provided by N26 to its most valuable customers. Whether you are using the premium account for personal use or for business use. You can be rest assured that you will be getting a number of perks and the premium services and features provided by N26. 

Below we will take a look at some of the features and service that Metal account holders can have access to: 

A one-of-a-kind N26 Metal debit card

N26 Metal's Mastercard debit card is made of 18-gram stainless steel and comes in three different metallic hues. The engraved card represents the pinnacle of luxury banking, with a simple appearance and all the necessary contactless capabilities.

Insurance for mobile phones

We've all experienced the frustration of misplacing your cell phone. However, with N26 Metal, your phone is protected against theft or damage up to €1,000*. It makes no difference whether you pay for your smartphone with your N26 bank card or not.

Package of travel help

Your N26 Metal account includes broad traveling protection that covers you everywhere you go, covering claims resulting from epidemics or pandemics like COVID-19*. Reduce tension during required travel and breathe deeply for added peace of mind.

Premium Customer Service

N26 is always available to assist all its customers! Need a rapid response or immediate technical assistance? With N26 Metal, you'll get access to a dedicated Customer Support professional that you can call or chat with straight in the app.

Exclusive benefits tailored to your lifestyle

Receive exclusive access to hand-picked offers and promotions from world-class product lines, all chosen with modern lives in mind. Benefit from an ever-expanding variety of discounts from WeWork, Hotels.com, and many more with N26 Perks.

Sub-accounts for all of your aspirations

With N26 MEtal you may create up to ten sub-accounts to better organize your finances and save money for your financial objectives.

Is N26 Safe?

N26 is governed by the German Financial Regulatory Authority. In accordance with European Union directives, your money is protected by the German deposit protection system up to 100,000 EUR.

N26 is concerned with security, which is why a N26 account can only be linked to one mobile phone at a time, ensuring that you are the only person who has access to your account. Users are also kept up to date on all account activity via instant push notifications.

Features curated for N26 Italian Customers

N26 started providing its services to Italian residents way back in 2017 and has constantly improved its services. The mobile bank continues to add more features and improve existing service to make the everyday use of the mobile bank easy. 

If you opt for the free version of the N26 account or you decide to try the subscription option, users will get an easy and quick way to manage their funds. N26’s intuitive and user-friendly app allows for easy access and control over your account. The team at N26 is constantly working as well as listening to the complaints of its customers to improve their mobile app. 

How does this make using N26 the best option for Italian clients? Some of those reasons we have already covered earlier in this article. However, we will look at some of the features that make N26 a good choice for Italians looking for the best mobile bank.

Italian IBAN Account

An IBAN account is very important to countries in the EU and in the EEA because it allows for quick safe and reliable money transfers from one place to another. The Italian IBAN account makes it easier to manage your funds and N26 provides this for its Italian customers. One way an IBAN account makes your banking easier is by allowing you to manage your utilities and subscriptions anything from netflix and another streaming service to your gym membership all in the N26 mobile app. 

The Italian IBAN that comes with your account is just as safe as any other service provided by the mobile bank. Customers should be aware that their accounts are protected up to €100,000 under the German deposit protection scheme. Italian customers can rest  knowing that N26 is doing their best to bring them the best mobile banking experience. 

Support for Customers in Italian

If you have ever had a problem with your N26 account and have reached out to their customer support. However, you were unable to connect to an agent who speaks Italian. Wel, that has changed as N26 has added Italian and four other languages namely French, German, Spanish and English to make it easier for its users from all over the world to get the support they need. 

When you need help, you can get hold of  N26 Italian customer support, their agents are available daily from 7am to 11pm including Sundays and public holidays.To utilize the chat option, simply open your N26 app and navigate to the "My Account" area.

Do you have any reservations? Visit N26's Support Center to discover answers to the most often asked issues by Italian clients, such as how to have your income deposited to your N26 account or how to obtain your yearly average amount.

Deposit and withdraw cash at the supermarket

Italian customers don't have to get cash when going grocery shopping. WIth CASH26,  a new feature added by N26 allows users to withdraw cash from their local supermarket. N26 has partnered with over 500 supermarkets across Italy where N26 customers can withdraw cash for their needs. Simply create a barcode on your app and present it to the cashier. They'll scan it, and your available balance will be updated right away!

Special deals made just for you

N26 knows the importance of just delivering a great product and services but also finding a way to keep customers happy. WIth the mobile banks premium subscriptions N26 You and N26 Metal, customers can get access to exclusive promotion and discounts on brands that are partnered with N26.

Ibrahim Busari
As a fintech writer at AskWallet, he uses his metaphorical pen to guide you through the world of EMIs. He is an Ural Federal University Alumni and has been working in the financial and iGaming industry since 2016.