N26 bank account: why it´s better for you than Openbank

Here you have some reasons to choose N26 over Openbank 'Cuenta Open' account, with the plus of having a bank account on your smartphone.

Account opening

N26 vs Openbank: Account opening
Feature description
N26
Free

An account you can use anywhere in the world

Openbank
Free
Features
In 8 minutes, from your smartphoneFrom the internet, but you have to upload documents in PDF

It´s never been easier to open a bank account. Forget about the paperwork, the waiting in line and the having to go to a bank branch. With N26, you can do everything quickly, from home and on your phone. We don´t ask for any document, just to verify your identity in a few, easy steps. You´ll only need to take a selfie and a picture of your ID: it´s that easy!

Foreign currency transfers

Foreign currency transfers
Feature description
N26
Free

An account you can use anywhere in the world

Openbank
Free
N26
Free

The free N26 bank account for everyone

Open Account
Fee
0.5%0.65% (minimum 20€)Feature disabled for this product
Waiting period
until the transfer is completed
Feature disabled for this product5-7 days1-2 days

In the old days, sending money overseas, especially outside the Eurozone, was a pain. Between the different kinds of commissions, the numerous boxes to check and the waiting time before the transaction was completed, it was an uphill battle to send money. ¿But does it really have to be that difficult? With N26, thanks to our partner Transferwise, sending money is problem-free: we offer you a quick, simple and cheap way to send money in (almost) every currency. With market exchange rates, updated in real time, and no weird fees, Transferwise with N26 is the best way to do transfers in foreign currency.

ATM withdrawals

ATM withdrawals
Feature description
N26
Free

An account you can use anywhere in the world

Openbank
Free
ATM fees in Spain
5 free withdrawals per month + 2€/additional withdrawal in any ATMFree withdrawals in Santander ATMs, 3% (minimum 3€) in other ATMs
ATM fees in Eurozone
0€5€

With N26, you no longer have to worry about whether the ATM is going to charge you a fee. With the N26 card, you can go to the nearest ATM at every moment. You know that you have 5 free withdrawals per month (even if the ATM says that it´s going to charge you, we make sure only the money you withdrew is taken from your account) and that you can do them whenever and wherever you want. Traditional banks often force you, via fees, to go their own ATMS, which is not always convenient. With N26, you can go to any ATM.

ATM withdrawals in foreign currency

ATM withdrawals in foreign currency
Feature description
N26
Free

An account you can use anywhere in the world

Openbank
Free
ATM withdrawals in foreign currency fee
1.7%4.5%

When we go on a trip abroad, sometimes we have to withdraw money in the local currency (not the least because if we want to change our money in a local exchange bureau, the rates are horrible!). However, traditional banks also charge you high fees for this service. With N26, we offer a cheap and simple service: in any ATM and in any currency, we will only charge you 1.7% of the amount you withdraw: easy, isnt´it?

Payment from the smartphone

NFC
Feature description
N26
Free

An account you can use anywhere in the world

Openbank
Free
NFC Services
Apple Pay, Google PaySamsung Pay

The NFC technology allows us today to pay from our smartphone. The technology giants have already integrated NFC in their products, so that many things can be paid with a smartphone. In N26, we support this technology and want to offer our clients the possibility to pay from their smartphones. Hence, we work with the major smartphone providers and today we have integrated Apple Pay and Google Pay (for Android) in our services.

Source: Openbank´s webpage and Customer Service (March 2018)