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 descriptionN26Openbank
 
Free
Free
 

An account you can use anywhere in the world

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 descriptionN26OpenbankN26
 
Free
Free
Free
 

An account you can use anywhere in the world

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 in foreign currency

ATM withdrawals in foreign currency
Feature descriptionN26Openbank
 
Free
Free
 

An account you can use anywhere in the world

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?

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