What N26 will do to help in case of fraud

Security is the foundation of our company's DNA, and a factor in everything we do at N26 – from training new employees, to choosing the tools and programmes that will continuously improve our processes. However, as with all banks, the threat of attempted cybercrime is a possibility and this means that our customers risk encountering fraudulent activity such as phishing scams.

In the few fraud cases that we see, fraudsters may ask you to provide personal information such as passwords, either through replica websites that they’ve built, or over the phone.

Unfortunately, it can sometimes happen that the customer shares their personal data with fraudsters while believing them to be their bank, and in the case of this leading to fraud or unauthorized access, we will block the affected accounts and contact you directly to prevent further damage occurring and contact you offer assistance.

If you suspect fraud on your account yourself, it’s important to contact us as soon as possible. Our customer support function is available in the app and on the N26 website, with chat and email support. Feedback of our chat support function is that this is the preferred method of communication for many customers, resulting in a high level of customer satisfaction.

The fraud cases themselves are often relatively complicated and have to be dealt with in detail. Depending on the complexity, this can take a few days, but in some cases it can take several weeks. For security reasons, the affected accounts remain blocked until the matter is resolved. Naturally, because of this we make every effort to process each case as quickly as possible. It’s also our goal to support you in the next steps, such as reimbursement for any damages.

In addition to our legal obligations for fraud prevention, we have a dedicated team who analyze each case of fraud individually in order to continually improve our security safeguards. Furthermore, we constantly aim to raise awareness around security topics through our blog and social media channels, to highlight important issues such as information on account security and preventing phishing.

Thanks to the expansion of our customer support team over the last 6 months, on average, we currently offer our customers help in less than 30 seconds. To date, our customer support team stands at over 400 employees, to ensure availability.

We are continuously optimizing our customer support services. We do this is two ways– firstly by providing every employee with regular training and updates, and the second is to further develop our processes with a competence team, who can ensure fast and satisfactory support by implementing best practices.