N26 Experience in the US

I signed up with N26 here in the US. I’m curious to know everyone’s experiences with them. They’re so new and I don’t know what resources they have to provide this kind of service. But I’m very intrigued by the concept. Any thoughts?

I’m a Portuguese Citizen, and I have started working with N26 a few months ago. Everything went fine until now.

Until now? Did something happen?

:blush: no, nothing hapen ! Everything went fine !

Miguel Faustino


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Enviada: 4 de agosto de 2019 15:45
:dollar:] N26 Experience in the US



I also signed up and am going through the process. A bit rough since it’s sort of in its beta stages for the US, but I’m pleased with the customer service and think I’ll get along well with it. Also I have a colleague that’s been using it for a while and she says nothing but good things.

Good to hear! I would say what you just wrote is my assessment so far too. Currently trying to get my account linked to my PayPal, which may take a couple of business days.

The experience in the US is going to be guided in part by the limitations of the US banking system. If you compared transfers between banks between US and Europe you would be unimpressed. N26 can’t do much about that.
The app is a little bland and functions are limited. For instance in the beta, you cannot make payment from the app. You also cannot set up Apple Pay. You can see your balance and get a notification that your transfer has arrived… in two days.
I wouldn’t say you get to see the future of banking just yet. The beta is very limited.

I signed up and still haven’t had my identity verified.

7/28 – Signed up online with an error message.
7/31 – Called N26 to inquiry and was told my identity needed to be verified and someone would be in contact in 24 hours.
8/5 – Was finally contacted and asked to provide a copy of an official form of ID (sent DL photo same day).
8/8 - still waiting…

So far communication has been slow so I am worried they could happen in the future.

Out of curiosity, how fast are bank transfers in Europe? I’ve never banked there before.

That’s very interesting to hear. So far I don’t mind the slow processes as long as funds are accounted for. The user interface is cool to me but is limited. I suspect things will improve over time.

They got back to me a little sooner. Maybe they’re getting more customer volume since word is getting out

I have transferred money between HSBC and Monzo in the UK on the phone app. As I pressed send on the HSBC app, I got notification of receipt from the Monzo app. So, quick.

Now that’s what I’m talking about…

As I said before, this is due to the way the inter-bank transfer system is organized in the U.K. and probably most of Europe. The US system in comparison is where the UK system was 15 years ago. It’s a tough market to crack, more fragmented than the EU and apparently required N26 to partner with a US bank to gain the State licenses and some infrastructure. Hence the product will, I suspect , be a shadow of its European counterpart.