HomeChallenger BanksRevolut Vs N26

Revolut Vs N26

Revolut Key Features

  • Upgrade to Premium or Metal for 0% fees on every transfer
  • First 10 US transfers free

N26 Key Features

  • Low fees

Gone are the days when you had to wait in the queue to deposit your money at the bank, thanks to the development of fintech platforms which make international and domestic payments a lot more accessible. In this article, we will be comparing the similarities and differences of two leading fintech money transfer brands, Revolut and N26, as we investigate how affordable, quick and convenient their services are.

About Revolut and N26

Nik Storonsky and Vlad Yatsenko created Revolut, a fintech business founded in London, in 2015. It is a challenger bank exclusively available as a mobile application. The Bank of Lithuania granted the fintech company a banking license in 2018 and since then, the bank has gone from strength to strength, now operating in more than 30 countries. Following a funding round in February 2020, Revolut was valued at £4.2 billion, making it the UK’s most valuable fintech business. Under the existing e-money policies, funds deposited with Revolut are currently held with Lloyds or Barclays. However, unlike N26, Revolut is not able to offer consumer deposit protection.

N26, Europe’s first digital bank, is a Berlin-based fintech business founded in 2013 by Valentin Stalf and Maximilian Tayenthal. N26 accounts can be accessed via smartphone app or web browser. The bank has established a presence in over 20 European nations, and has recently moved into the US market, resulting in the N26 customer base amounting to over 6 million people.

The company was granted a banking license by The German Central Bank in 2016 and funds up to €100,000 that are deposited in N26 accounts are covered by the German Deposit Guarantee Scheme. Following its series D round of funding in May 2020, the company was valued at $3.5 billion.

Which brand has lower transfer fees?

  • All international money transfers are subject to small fees, the size of which is determined by the type of Revolut membership: Standard, Plus, Premium, or Metal

  • Every month, Premium customers receive one fee-free global transfer, whereas Metal customers receive an unlimited service

  • Revolut customers will be charged 0.3 percent of the transfer amount for standard international money transfers, with a minimum of £0.30 and a maximum of £9.00. (or equivalent)

  • Other charges include:

    • A non-SEPA international payment (£0.30 – £5.00 depending on the size of the transfer)

    • Currency exchange rates range from 0.5 percent to 1 percent, depending on the size of the transfer.

    • Transfers made on weekends and UK bank holidays are subject to a 1% surcharge.

    • Payments of more than £1,000 per month will be subject to a “0.5 percent fair usage fee.”

  • Customers of N26 can make unlimited fee-free overseas card payments and ATM withdrawals

  • It is also possible to receive euro transfers from EEA countries and Switzerland for free.

  • When it comes to sending money abroad, N26 customers can take advantage of the bank’s partnership with Wise, a money transfer giant. Global remittances can be easily set up by tapping on the Wise feature, integrated within the N26 app. Wise has a transparent approach to transfer fees, with the overall cost not exceeding 0.35 – 0.65 percent of the total transfer amount.

  • However, N26 warns customers about transaction processing fees, which are typically around 2%, and are levied by the bank or card company that provides the international service.

  • Furthermore, any refusal of a direct debit due to insufficient funds will result in a €3.00 fee per refusal.

  • Customers can learn more about transfer fees by visiting the N26 website and scrolling down to Foreign Transaction Fees.

And the winner is

Due to their advantageous partnership with Wise, N26 is in a better position and therefore wins the award for lowest transfer fees.

Which brand offers better exchange rates?

  • Smaller transfers in popular currencies such as USD, GBP, EUR, AUD, CAD, NZD, CHF, JPY, SEK, HKD, NOK, SGD, DKK, PLN, and CZK receive the best exchange rates from Revolut.

  • Revolut offers to match the real mid-market rate with zero exchange rate markups during the week when the forex market is open.

  • On weekends, however, Revolut charges a 1% spread on all currencies.

  • This means that by the time a customer goes to make the transfer on Saturday, the exchange rates displayed on Thursday may have changed.

  • According to the N26 Foreign Currency Exchange page, the company collaborates with Wise to provide “the best exchange rates available” for international money transfers

  • When it comes to spending abroad, N26 informs customers a fee of around 1% is applied to payments that need to be converted from one currency to another.

And the winner is

Revolut is able to offer very competitive exchange rates for most major currencies, but due to the weekday and weekend difference in foreign exchange spread, N26 and their money transfer partner, Wise, simply offers more reliably competitive exchange rates

Which brand covers more locations?

  • Revolut account holders can hold and manage 30 different currencies and send money to more than 150 countries around the world

  • Customers in Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, The Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the United States can sign up with N26

  • The bank controversially announced in 2020 that they would close all British customers’ bank accounts and cease operations in the UK

  • Customers can easily transfer funds to over 38 countries because N26 international money transfers are powered by Wise and seamlessly integrated into the N26 mobile app.

And the winner is

Although N26 is a widely accessible challenger bank that is developing an ever-evolving global network, its recent decision to cease operations in the UK has put off many customers within the United Kingdom and beyond. Further to this, Revolut supports money transfers to all major nations and its core design focuses on global travel and borderless payments.

Which is faster?

  • Revolut can send money to a UK bank account in as little as two hours, though transactions typically take 1-2 business days.

  • International transfers can take 3-5 business days

  • Customers may benefit from Turbo-boost transfers which can speed up the process. Turbo-boost transfers come with a fee for Standard users, but are free for Premium and Metal members.

  • N26 executes all bank transfers within one business day. However, it could take up to two days for the recipient to receive it, depending on their bank.

  • MoneyBeam transfers to other N26 customers are instantaneous at any time of day. Non-users might expect to wait 1-2 business days.

  • Currency transfers using Wise will vary, but each one will have an expected timeframe.

And the winner is

Revolut is well connected, globally, but N26 is the faster of the two. Most transfers will be deposited with recipients within 1 day, maybe two, whereas some Revolut payments can take up to 5 working days.

Which brand offers more transfer and payment options?


Among the Revolut transfer options are:

  • Cross-border transfers: the less expensive, slightly slower option for customers who value cost over speed.

  • SWIFT transfer: the faster, more expensive option for customers who are willing to pay more for faster service.

Revolut users have the following payment options:

  • Transfers between banks Credit and debit cards

  • Cryptocurrency


Wise handles international money transfers on behalf of N26, and the following transfer options are available:

  • Quick and simple transfer: the quickest way to send money overseas, paid for with a debit or credit card or a digital wallet such as Google Pay. This is the most expensive option, despite being the fastest.

  • Low-cost transfer: This is a low-cost option that is ideal for customers who value price over speed. Due to the fact that payment is made via bank transfer, this type takes the longest.

  • Advanced transfer: This type of international money transfer makes use of the SWIFT network, which usually comes with a fee.

And the winner is

N26 wins another round, thanks to the bank’s partnership with Wise, a leading money transfer operator that offers flexible transfer and payment options.

What do users have to say about each brand?

  • Customers have given Revolut 4.7 out of 5 stars on both the App Store and Google Play Store. This is a respectable score that outperforms many other app-based challenger banks.

  • Positive online feedback includes praise for Revolut’s quick and easy app design, useful functions and convenient money transfer services

  • The N26 application is the primary means of accessing this challenger bank’s services. N26 has received 4.7 out of 5 stars on the App Store and 3.7 out of 5 stars on the Google Play Store, indicating that Android users may have more issues with the app, but overall it is a high performing platform

  • N26 has been rated as a “Great” company on Trustpilot, with 3.9 out of 5 stars. Although this is a positive rating, 20% of online reviews are rated “Bad,” with customer complaints citing issues with standard SEPA transfers, unsatisfactory customer service, and long wait times.

And the winner is

In terms of app reviews, the Revolut app receives higher praise from users, scoring high for its application and its customer service. N26 does not have a bad reputation, but the online feedback is more varied than Revolut.

What brand offers better ease of use, accessibility, transparency & security?

  • Accessibility: Revolut offers global coverage with services available in 24 languages, making it easy for customers to send money around the world. 24/7 customer service is available in-app or via phone

  • Ease of use: Many users laud Revolut for its simple sign-up process and quick payment services. Revolut also makes it easy to hold and trade cryptocurrencies and stocks

  • Security: Revolut customers benefit from the Financial Services Compensation Scheme (FSCS), which protects funds up to £85,000 per account. In addition to this, the bank has a European banking license and is regulated by the FCA To protect customers’ data, the company also uses fingerprint identification, the Sherlock anti-fraud system, and customizable features.

  • Transparency: Revolut’s fee structure is complicated because it varies by country, which can prove confusing when arranging transfers to distant countries in less commonly traded currencies

  • Accessibility: N26 is available in over 20 countries, catering to multiple international markets, primarily in Europe. Some users have reported difficulty accessing certain functions in the app. Also, when the company abruptly announced they would no longer support UK users, British account holders were hugely disappointed

  • Ease of use: Online reviews primarily consist of positive remarks, but Android users appear to struggle with the app more than Apple customers. N26 recently revealed “we fixed some bugs to improve your app’s performance.”

  • Security: Customer funds are protected up to €100,000 by the German Deposit Protection Scheme, in addition to having a full European bank license since 2016. The bank appears to take security very seriously, with procedures such as biometric authentication and 3D secure technology used to protect customer data.

  • Transparency: When it comes to international payment services, N26 collaborates with Wise, widely regarded the industry leader that provides total transparency throughout the money transfer process

And the winner is

Both N26 and Revolut strive to uphold a high standard in all areas related to accessibility, ease of use, security and transparency. However Revolut wins it for us based on their bigger reputation.

Additional features

  • Vaults: an ingenious money-saving feature offered by Revolut. When you use your card to make a purchase, Revolut will automatically round up the transaction to the nearest whole number and deposit the difference into your Vault. So, every time you buy a €2.80 coffee, €0.20 will be deposited into your Vault. Consider it your online coin jar.

  • Crypto: Revolut also provides you with instant access to several cryptocurrencies, including bitcoin, and you can convert your Vault’s savings (or any of your money) into cryptocurrency if you so desire. However, before you do so, we recommend that you educate yourself on the volatility of these currencies

  • Spending limits: Customers can also set monthly spending limits so each time a payment is made you will be notified of how much is left – making it an excellent budgeting tool. You can do something similar with N26 by setting a daily limit for cash withdrawals and payments.

  • MoneyBeam: N26 customers can use this function to send to contacts in their phone list without needing to ask for bank details

  • In-App Card Control: This intuitive feature lets users enable foreign transfers, active online payments, and set spending and withdrawal limits

  • Spaces: This feature enables customers to open sub-accounts and name them for specific savings goals, such as a vacation or a down payment on a house. However, Spaces is only available as a 60-day trial for basic account holders. After the 60-day trial period expires, users will need to upgrade to gain access

  • Transaction tagging: set up unique, personalised hashtags to organise your finances

  • Spending categorisation: this feature helps breakdown spending habits

  • Cash26: withdraw and deposit cash at more than 11,000 retail partner locations in Germany; available to customers in Germany only

  • N26 also provides discounts and rewards at various retail outlets

And the winner is

As two very impressive challenger banks, it would appear N26 and Revolut have understood the assignment, and continue to unveil exciting and intuitive spending, saving and trading features for their customers. Both offer more useful additional features than any brick-and-mortar bank.

Both Revolut and N26 have radically changed the way we bank and both rank highly in the challenger bank arena. After much research and deliberation, however, we believe N26 has the upper hand. Both challenger banks are making a real difference to the way consumers choose to manage their finances, domestically and internationally, but N26’s decision to partner with expert money transfer operator, Wise, has given the company a huge advantage.

N26 international transfers are much speedier and far less expensive, with many cross-border payments enacted on the same day they are sent. For customers that require assistance, N26 appears to be more responsive than Revolut; this is a crucial aspect of any operator, as hard-earned money is on the line so the stakes are high.

Find out more about Wise money transfers, as well as many other international service providers, by reading our other Company Reviews today. While you are here, it is also worth trying out our Comparison Engine, to see how much money you can save by choosing the right provider for the job.

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April Summers
April Summers
April is a trained journalist and the Content Editor for She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she's not writing about global remittances she can be found daydreaming about her next holiday abroad.
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