N26 Review 2026: Safe After BaFin Sanctions?
⚠️ BaFin Sanctions Update (December 2025)
In December 2025, BaFin (Germany's financial regulator) imposed additional oversight measures on N26: a ban on new mortgage lending in the Netherlands and a requirement to increase capital reserves. Your existing account and deposits are unaffected. N26 retains its full German banking licence and €100,000 DGS deposit protection. New customer onboarding is currently restricted to Germany and Austria only.
Overview
Full German banking license (BaFin) combined with a sleek mobile-only experience; one of the first fully licensed EU neobanks with €100,000 German deposit protection
Regulatory Status & Deposit Protection
Full German banking license (BaFin regulated); EUR 100,000 deposit protection (German DGS); under additional BaFin oversight order since December 2025
Pricing Plans
| Plan | Price | Key Perks |
|---|---|---|
| Standard | Free | Free virtual card, basic features |
| Smart | €4.9/mo | Physical card, Spaces, partner perks |
| You | €9.9/mo | Travel and device insurance |
| Metal | €16.9/mo | Metal card, 2% savings interest, lounge access |
Key Features
- Real-time spending notifications and categorization (Insights)
- Spaces sub-accounts for savings goals
- SEPA Instant transfers
- Interest-bearing savings (2% p.a. on Metal)
- Free stock and ETF trading
- Instant cryptocurrency purchases (400+ coins)
- In-app card controls (freeze/unfreeze, limits)
- Airport lounge access and travel cashback (premium tiers)
Pros & Cons
✅ Pros
- • Real-time spending notifications and categorization (Insights)
- • Spaces sub-accounts for savings goals
- • SEPA Instant transfers
- • Interest-bearing savings (2% p.a. on Metal)
- • Free stock and ETF trading
❌ Cons
- • Abrupt account freezes and closures without explanation
- • Slow, scripted customer support with no phone line
- • BaFin sanctions (Dec 2025): banned from new mortgage lending in NL, must increase reserves
- • New customer onboarding currently restricted to Germany and Austria only
- • No joint accounts on lower tiers
- • Limited product range vs. Revolut (no bonds, commodities)
Travel Features
Compare all banks for travel →Foreign Exchange
No markupMastercard interbank rate globally on all tiers — no FX markup. 1.7% cash withdrawal fee outside eurozone on Standard.
ATM Abroad
Unlimited freeStandard: 3 free ATM/month in eurozone, 1.7% fee abroad. Smart: 5 free/month. You: unlimited free globally. Metal: unlimited free globally.
Travel Insurance
- ✓ Medical emergencies abroad (up to €2M, Allianz)
- ✓ Trip cancellation
- ✓ Delayed/lost luggage
- ✓ Travel delays
You tier: comprehensive Allianz travel insurance. Metal: premium Allianz package with higher limits and additional covers.
Airport Lounge
Allianz Assistance Partner lounges — not a universal network like LoungeKey
Limited lounge access via Allianz partnership; coverage depends on airport
Multi-Currency
Single EUR account; multi-currency spending via Mastercard at interbank rate — no dedicated sub-accounts per currency
✈️ Travel Perks
- • Free global ATM withdrawals on You/Metal
- • No FX fees on any tier globally
- • Allianz travel insurance on You+ (includes medical up to €2M)
- • In-app card freeze/unfreeze and limit controls
- • Instant transaction notifications while travelling
Services: Crypto, Investing & Savings
Cryptocurrency
Available- • Buy & sell 400+ cryptocurrencies in-app
- • Powered by Bitpanda partnership
- • Set price alerts
- • Crypto available on all account tiers
- • No external wallet transfers (buy/sell only)
Custodial via Bitpanda integration; no self-custody option
Compare crypto across EU neobanks →Investments
AvailableSimple investing interface; limited instrument range vs. Revolut
Compare investing across EU neobanks →Savings
AvailableFixed rate on Metal tier; ECB-linked on lower tiers
Standard: 0% savings rate; Metal: 2.00% p.a. on Spaces balance
Compare savings rates across EU neobanks →Business Banking
AvailableAccounting: Lexoffice, DATEV export
Limited to freelancers and self-employed — not suitable for companies with employees or teams. No expense management or invoicing. 0.1% cashback on all purchases is a differentiator for the free tier. German banking licence (BaFin).
Compare all business accounts →Premium Plans
Compare all banks' premium plans →- • Virtual Mastercard
- • Instant transfer notifications
- • Basic Spaces sub-accounts
- • Free SEPA transfers
- • Physical Mastercard
- • Advanced Spaces (sub-accounts)
- • Partner perks & discounts
- • 3-month phone cover
- • Comprehensive travel insurance
- • Trip cancellation cover
- • Luggage insurance
- • Device & bike insurance
- • Metal stainless steel card
- • 2.00% p.a. on savings (Spaces)
- • Allianz lounge access (partner)
- • Premium travel insurance
- • Priority support
| Feature | Standard Free | Smart €4.9/mo | You €9.9/mo | Metal €16.9/mo ★ Best value |
|---|---|---|---|---|
| Metal card | — | — | — | ✓ |
| Travel insurance | — | — | ✓ | ✓ |
| Airport lounge | — | — | — | ✓ |
| Free ATM/month | — | — | — | — |
| Free FX/month | — | — | — | — |
| Savings rate | 0% | 0% | 0% | 2.00% p.a. |
| Cashback | — | — | — | — |
| Top perks |
|
|
|
|
Our Verdict
N26 holds a full German banking licence — one of the strictest in the EU — and your deposits remain protected to €100,000 despite the December 2025 BaFin measures. It is our pick for Best Full EU Bank for users in Germany and Austria. The BaFin sanctions are a yellow flag worth watching, but they do not affect account safety for existing customers.