5 Things To Look For When Choosing a Bank Account

If you’re looking to open a bank account or change banks entirely, you need a bank account that offers much more than just a place to keep your money.

5 min read

From the moment we wake up to the moment we go to bed, our days are filled with decisions – some big, some small. Single or double shot? Ramen bowl or rainbow rolls? Is this job right for me? Should I buy this apartment? Of course, on a scale of ramen to real estate, different decisions hold more weight than others and will have a greater impact on your future. 

One important decision that will have a direct impact on your future? What bank account should I use? Believe it or not, this falls on the “big” end of the decision spectrum, and it can directly impact your relationship with money for years to come.

Unfortunately, just like deciding where to order dinner, there are a LOT of potential options out there. That’s why we’re here: to take the stress and anxiety out of this decision.

5 things to look for when choosing a bank account

1. Convenience

Going to a bank usually means long queues and piles of paperwork, but it doesn’t actually have to be that way. 

Your time is valuable, and your bank account should have a convenient experience to fit that. Online banks use technology to alleviate those headaches and make banking work for you. Don’t have time to visit a bank branch to open an account? No problem – you can sign up with N26 in under five minutes directly from your phone. 

2. Transparency

Your relationship with your bank should be built on trust – and you can’t have trust without transparency. Ever open your statement to find a brand new hidden fee? Or feel the pain of out-of-network ATM charges? Who hasn’t unknowingly overdrawn a checking account before? 

Did you know that during the first three months of COVID, it was reported that Americans paid around $11.6 billion in bank fees? When choosing a bank that doesn’t charge bank fees, you can save a chunk of change over your lifetime. 

At N26, we cut hidden fees out of the equation: no bank charges, no maintenance charges, and no insufficient funds fees. Plus, we provide unlimited free ATM withdrawals at over 55,000 AllPoint locations across the US, Canada, Puerto Rico, Australia, Mexico, and the UK. 

3. Rewards

Sure, some banks offer a rewards program linked to credit card spend, but what about a debit card with perks? With N26, you automatically earn cashback on groceries, gas, travel, restaurants, and fashion when you use your N26 card at select retailers. We’ve partnered with the likes of Adidas, Walmart, Converse, and Marathon Gas, so you’ll receive cashback on purchases you make every day.  On top of this, you can get exclusive discounts from some of your favorite brands and monthly subscriptions such as Hello Fresh, Dropbox, Lime, and Skill Yoga.

The pièce de résistance? It’s automatic – you don’t have to sign up or opt-in – no complicated fine print or fees. Simply open the app to find participating merchants in your area, pay with your N26 card, and you'll receive cashback directly into your main account every 15 days. 

4. Security 

When looking for the best banks to bank with, make sure that security is a top priority. Understanding exactly how they are protecting you and your money is essential when it comes to finding an account that you trust. At N26 we give you full control with simple features that will keep your account safe and secure. 

In order to  provide a secure banking experience, N26 debit cards are protected by Visa’s Zero Liability Policy¹, which means you won't be held responsible for any unauthorized charges made on your account. Plus, your deposits are FDIC-insured up to $250,000 through our partner, Axos Bank®, Member FDIC.

Paying with your N26 card using Apple Pay® or Google Pay™ in-app, online, and in stores, you’ll receive added security at worldwide retailers. Contactless technology also keeps your card information safe from potential skimming. Since your N26 debit card will never touch the terminal, it never needs to be swiped or inserted–the moment where scammers in-waiting can steal all the info they need.

5. Lifestyle

The bank account you choose should meet your individual needs — a one-size-fits-all approach just won’t do. If you’re an entrepreneur and have a side gig, you’ll want a bank account that can provide support as you build your own business. Maybe you're saving up for that trip to Indonesia you’ve been dying to take or putting cash aside to buy some concert tickets. Whatever your financial goals might be, you need a bank account that actually helps you save your way. N26’s Spaces helps you visualize, track, and achieve your short and long-term financial goals. You can create personalized sub-accounts and transfer money instantly. 

At N26, we offer a mobile-first approach to banking, which means you can manage your money anywhere, right from your phone. It’s banking-on-the-go that allows you to instantly send money to anyone who banks with N26, lock your card if it's lost, set spending and withdrawal limits, change your PIN, and enable international spending instantly – all with a couple of clicks and taps on your phone. So, for all kinds of convenience, all your banking needs are right at your text-ready fingertips. 

Now that we’ve covered how to choose a bank and what to look out for, you have one less decision to worry about. Go ahead, treat yourself to some fancy ramen. 


Join N26 today

Mobile banking at its best, N26 provides simple, secure, and rewarding ways to manage your money. With seven million customers around the world, we put you in the driver’s seat of your finances, giving you full control with simple features that will help you stay on top of your finances.

Open an N26 account today to enjoy banking that meets your needs and match your lifestyle. Here’s to living and banking your way.

¹ Visa’s Zero Liability Policy covers U.S.-issued cards only and does not apply to certain commercial card transactions or transactions not processed by Visa. You must notify your card issuer immediately of any unauthorized use. For specific restrictions, limitations and other details, please consult your issuer.

Apple and Apple Pay are trademarks of Apple Inc. For a list of compatible Apple Pay devices, see support.apple.com/km207105.

Google and Google Pay are trademarks of Google LLC. For a list of compatible Google Pay devices, see https://support.google.com/pay/answer/7643995co=GENIE.Platform%3DAndroid&hl=en

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.

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.

By N26

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