Last year, I wrote the most comprehensive N26 review on the Internet, which has since been read by tens of thousands of travelers, digital nomads and online banking enthusiasts from every corner of the world. Yet as all-encompassing as it is, there’s still something missing: an N26 review specific to Canada. So here, I want to clear up a few misunderstandings for any Canadian users joining N26, and also demonstrate why N26 might be a better banking option for you than Scotiabank, RBC, BMO, CIBC or any of the other Canadian banks.
I live in Canada, so most of my local transactions are done in Canadian dollars, not Euros. Does it make sense for me to have an N26 account that holds Euros?
Yes! It’s an excellent question, but because all of N26’s transactions are done at the mid-market rate, any payment you make in any currency is treated the same as making a payment in your local currency. N26 doesn’t charge any conversion or exchange fees like other credit and debit cards do.
Is N26 Black available in Canada?
Not yet! As you can see here, N26 Black is currently available in Austria, Belgium, Estonia, Finland, France, Germany, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Netherlands, Portugal, Slovakia and Spain. It’s not yet available in the United States, the United Kingdom, Canada or Greece, though I’ve included country-specific review posts for those countries, too, due to popular demand. You can apply for N26 Black directly here.
Can I withdraw money for free with my N26 Black when I’m in Canada?
Yes! As I demonstrate in my original N26 review, you get free ATM withdrawals worldwide with your N26 Black card, which includes ATMs in Canada. If you have the N26 free card, you pay a 1.7% fee on the total withdrawal amount.
To show you what I mean, here’s a screenshot showing the recent withdrawal of 7,220 Thai baht that I made from an ATM in Bangkok, alongside the real exchange rate from xe.com. Remember: any time you withdraw cash or make a foreign currency transaction with N26, you pay the mid-market rate and not a penny more.
Can I still use the insurance that comes with the N26 Black card even if I live in Canada?
Yes! Living in Canada doesn’t make you any less eligible to use the insurance that comes with your N26 Black card. Here are just a few examples of what the insurance policy on your N26 Black card will cover:
- Medical expenses up to an unlimited amount if you have a medical emergency while abroad (No deductible).
- Expenses you incur due to a flight delay of 4 hours or longer, up to a maximum of €400 (No deductible).
- Expenses you incur if your luggage arrives more than 6 hours late, up to a maximum of €400 (No deductible).
- Reimbursement for a stolen mobile phone that was purchased with your N26 Black account, up to a maximum of €300 (€50 deductible).
- Reimbursement for stolen cash if you get mugged up to 4 hours after withdrawing with your N26 Black card, up to a maximum of €500 (No deductible).
- Extended warranty of up to one additional year on items purchased directly with your card and all payment methods associated with your card, such as a linked PayPal account, up to a maximum of €500 (€50 deductible).
- Travel cancellation insurance on every trip before the trip commences, up to a maximum of €5,000 per trip (10-20% deductible).
How much does N26 cost in Canada?
N26’s fee structure is eight pages long and pretty dense, so here’s the important stuff:
- All N26 bank accounts are free.
- N26 Black costs €9.90/month.
- Withdrawing foreign currency (any currency but Euros) anywhere in the world: Free for N26 Black members, or 1.7% for regular N26 users.
That’s all for now. If you have further questions, head over to my 3,000-word N26 review for the answers and a helpful discussion in the comments.
Also, since so many of you have been asking us for them, here's our full list of country-specific posts outlining how to ship anything from Amazon to any country in the world. Our 2-step method makes it as simple as humanly possible, and takes about 3 minutes total: Austria, Bahrain, China, Cyprus, Denmark, Finland, Hong Kong, Hungary, Indonesia, Israel, Kuwait, Japan, Malaysia, New Zealand, Norway, Oman, Philippines, Poland, Portugal, Qatar, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Sweden, Switzerland, Taiwan, Thailand, Turkey, Asia as a whole, Europe as a whole and the United Arab Emirates.
While you're at it, international travelers should read our N26 review for the best way to get free ATM withdrawals the best rates on currency conversion - anywhere in the world.