Last update : December 10th, 2018
These two banks work the same way: sign up in 5 minutes online, and you’ll have a bank account, a Mastercard, a smartphone application to manage your account where you can receive real-time notifications, set spending limits, make transfers, lock/unlock your card if you lose it, change the pin code …
It’s easy, and it’s definitely worth it.
Differences between Revolut and Number26 standard offers
|Current account||Yes (Euro or GBP)||Yes (Euro)|
|Account Access||Mobile app||Mobile App & site|
|Shipping costs of the card||6 €||Free|
|Mensual cost||Free||Free **|
|ATM withdrawals in the euro zone||Free (up to a limit of 200 € per rolling month, then there is a 2% fee)||5 free withdrawals per calendar month, 2€ fee per withdrawal beyond|
|ATM withdrawals outside the euro zone||1.7% fee|
|Card payments (worldwide)||No fees (up to € 6,000 per rolling month, 0.5% beyond)||No fees|
|Exchange rate used||Interbank exchange rate plus a markup for some currencies and the weekend *||Mastercard exchange rate without markup|
|Money transfers||In 25 currencies||In 19 currencies with Transferwise|
|Support||Live chat in the app||Live chat in the app, mail, phone|
|Other||Limit of € 30,000 per year, Converter and real-time exchange rate available in the app||Bank overdraft authorized, csv export of all transactions|
|Eligible Countries (Legal Residency)||list||list **|
|See Revolut’s offer||See Number26’s offer|
Other offers from Revolut and Number26
Revolut Premium : For 8 € per month, the premium offer allows you to have a higher limit to withdraw money without fees (400 € per month instead of 200 €), to receive a card by express delivery for free, to have a traveling health insurance for trips of less than 40 days (this insurance is also available for standard Revolut accounts for 1 € per day of travel), delayed luggage and flight insurance, and to have access to assistance 24/7
Revolut Premium : For 14 € per month, you can withdraw up to 600€ per months without fees, overseas medical insurance, delayed luggage and flight insurance, up to 0.1% cashback within Europe, and more
Number26 Black : For 9.90€ per month, international withdrawals are free and unlimited, and you are insured for a lot of things: medical expenses abroad, stolen phone, loss of your luggage, flight delay… There are no special conditions depending on the age as for the standard account ** , but there is a 12 months minimum duration.
Number26 Metal : For 16.90€ per month, same advantages as the N26 Metal card, plus some special offers from partners and special assistance.
Number26 Business : for freelancers and auto-entrepreneurs, this offer is equivalent to the standard account, with the additional benefit of having 0.1% cashback on all purchases made with the card.
Happy as popes with both of them 🙂
We had only one bad experience with Revolut, in Armenia. The exchange rate proposed by Revolut sometimes came back 10% more expensive than that of N26. The reason is, the banks use different references to fix the exchange rate (the interbank rate for Revolut, and the Mastercard rate for N26). For two payments made at the same time with these two cards, the rate will not necessarily be exactly the same. Generally the difference is minimal, and compensates in the long run (one rate will not always be better than the other).
But for some currencies the difference can be very large, and this is the case for the Armenian Dram: for example at the time I’m writing this article, 1 euro=553 dram with Revolut, and 1 euro=580 dram with N26, about 5% difference. For now, it’s the only country where we’ve had this problem, but we’re still keeping an eye on exchange rates! As clever as worms!
Beside that it is always better to also have a “classic” card in the pocket, a Visa if possible, because in some countries Mastercard is not very widespread 🙂
So if you travel mainly to Russia, Ukraine or Thaïland, Number26 will be better than Revolut !
Do you ever wonder why you can pay by credit card without fees, but not withdraw unlimited money without fees ? Every time you pay in a shop with your credit card, the shop has to pay a fee. When you withdraw money, your bank will pay the fee. If you prefer giving your money to the local shop owner than to the bank, pay in cash 🙂 It will also preserve a bit your privacy, as paying by credit card everywhere you go is also sharing lots of information with your bank !