The Surprising Benefits of Online Banking

Ready to make the jump to a 100% mobile bank account? From speed and efficiency to environmental benefits, here’s why you should.

4 min read

To say the very least, a lot changed in 2020. Now with vaccinations rolling out across the globe, it’s safe to say that technology has helped us all persevere through challenging unprecedented times. From working at the office from 9 to 5 to setting up a desk from home, or enjoying drinks at a bar to trivia and a generous wine pour over Zoom, technology has enabled us to continue to work, socialize and play. 

We’re not surprised. Our foundational love of technology is at the core of everything that we do. At N26, we offer a 100% mobile banking experience that you control directly from your phone. And while branchless banking benefits your wallet more than anything else, there are a wide variety of advantages to mobile banking you might’ve missed. 

Here are just a few: 

You get your money faster

We designed N26 to help you take control of your finances. This includes benefits like receiving your paycheck and other direct deposits to your account up to 2 days earlier¹ than traditional banks. (Yes, this includes stimulus checks and tax returns.)

How does this work? While traditional banks often place holds on funds until specified payroll dates, N26 believes in getting your money to you as quickly as possible. The moment your employer makes your paycheck available, we make sure that the funds hit your account. For a traditional Friday payday, we usually receive notifications on Wednesdays, which means you can get your money up to two days earlier. Plus, we’ll send you a push notification to your phone letting you know the moment it hits your account so you know exactly when your money is accessible.

It’s convenient  

At the end of the day, convenience is king. With branchless, 100% mobile banking, there’s no need to fit in a lunch-break run to the bank during your busy work days. And those long, painful lines to just speak to a customer advisor? Never again. Should you run into a problem or just want to ask a few questions about getting the most out of your N26 account, you can reach our customer service team in seconds via the N26 app. Our in-app live chat links you directly to one of our dedicated advisors, with an average response rate of under one minute.

It’s a far cry from days gone by when customers would need to venture out to their nearest bank branch just to lock their card, order a new one, or even to reset their account password. Even a simple change like registering a new address may have required completing a physical form at the branch, but that’s not the case with N26. You can achieve all of this and more through the many intuitive features in the N26 app—and you won’t even need to change out of your pajamas to do so. 

And if you’re not yet an N26 customer? No sweat. All you need to sign up for a bank account online is your smartphone and 5 minutes of your time.

It’s better for the environment

It’s true — mobile banking is better for the environment than traditional banking. In the past, customers would have to drive to their local bank branch to open a new account, deposit checks or withdraw cash. Now, you can do all of this (and more) without leaving your home. By eliminating car trips to the bank, we also reduce carbon monoxide emissions and the resulting pollution. 

Additionally, think about the mountains of wasted paper — from physical bank statements to deposit envelopes to the glossy brochures that decorate the waiting room. Paper accounts for around 26% of total waste at landfills, and you shouldn’t have to contribute to that figure just to check your bank account balance.

Bank better with N26

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It’s more hygienic, too

Not only is branchless banking convenient and better for the environment, it’s also more hygienic. Without the crowded lobbies, the face-to-face meetings, or the treacherous commute to the bank, you’re not only speeding up your banking process, you’re also keeping yourself and others safe during Covid-19 by minimizing your contact with others. 

100% mobile banking with N26

While a lot changed in 2020, our dedication to helping you live and bank your way is one thing that you can count on. If you’re ready to ditch your bank branch and go 100% mobile, we’re here for you. Open an account in just 5 minutes and experience a bank account designed to help you spend and save your way. No sign up fees, no paperwork, no problem.

¹ Faster funding claim is based on a comparison of our policy of making funds available upon receipt of payment instruction versus the typical banking practice of posting funds at settlement. Fraud prevention restrictions may delay availability of funds with or without notice. Early availability of funds requires payor’s support of direct deposit and is subject to the timing of payor’s payment instruction.

N26 does not manage external links, and is not responsible for the content, links, products or services of these websites. Further, N26's privacy and security policies do not apply to external linked websites. Please consult the disclosures of any external linked websites for further information.

The N26 account is offered by Axos Bank®, Member FDIC. N26 Inc. is a service provider of Axos Bank. All deposit accounts of the same ownership and/or vesting held at Axos Bank are combined and insured under the same FDIC Certificate 35546. All deposit accounts through Axos Bank brands are not separately insured by the FDIC from other deposit accounts held with the same ownership and/or vesting at Axos Bank. The N26 Visa® Debit Card is issued by Axos Bank pursuant to a license by Visa U.S.A. Inc. The N26 Visa Debit Card may be used everywhere Visa debit cards are accepted.

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