N26 South Africa
Last year, I wrote the most comprehensive N26 bank 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, I’ve had plenty of South African readers asking me questions specific to how to use N26.
So here, I want to clear up a few misunderstandings for any South African users joining N26, and also demonstrate why N26 is probably a better banking option for you than other online banks like Revolut, Monzo, Curve and Simple.
What Is N26?
N26 is an online-only bank designed for digital nomads, frequent travelers and anyone else who appreciates simplicity, great design and the lowest possible fees from their bank.
For example, my N26 account saves me thousands of Euros every year from the free worldwide ATM withdrawals, the best exchange rates on the planet (due to their partnership with TransferWise) and a remarkable travel insurance plan—all of which is included with my card.
It’s why I wrote a 3,000-word N26 bank review last year detailing my experience. That review covers all of their products in-depth, including N26 Black, N26 Metal, CASH26, INVEST26 and more.
It will also show you the exact time it makes sense for you to upgrade to N26 Black, and how to make the most of all the perks—perks like flight delay insurance, mobile phone insurance and travel cancellation insurance—that come with it.
And did I mention nearly all of these perks, plus plenty more, come absolutely free?
Benefits Of N26- Free ATM withdrawals worldwide. No matter where you are in the world, N26 will never charge you any fee for withdrawing cash from an ATM (unlike most banks, which charge $2-10 per foreign ATM withdrawal). If you’re on N26’s free plan, you’ll pay a 1.7% currency conversion fee on top of the mid-market rate, which is better than what nearly any other consumer bank provides.
- Real-time transaction notifications. Whenever money goes in or out of your account, whether it’s a transfer you’ve initiated or a pre-authorized payment, you’ll get a notification.
- Transaction categories. Every transaction is assigned a category like “Bars & Restaurants” or “Travel & Holidays” so you can easily keep track of your spending.
- PIN resets. Resetting your PIN at any time is as simple as logging into the app and changing it. No calling N26, no trips to the ATM, etc etc. 30 seconds and it’s done.
- Locking your card. Just like resetting your PIN, locking your card (to make it unusable for a period of time) is as simple as logging in and pressing the button. Unlocking it is just as easy.
- Payments abroad, online payments and cash withdrawals. For your security, you can toggle these on and off at any time.
- Spending and withdrawal limits. Another security feature that you can choose and change in the app at any time.
Is N26 available in South Africa? As you can see here, you can open an N26 account from any of the following countries: Germany, Austria, Switzerland, Ireland, France, Spain, Italy, the Netherlands, Belgium, Portugal, Finland, Luxembourg, Slovenia, Estonia, Greece, Slovakia, Poland, Sweden, Denmark, Norway, Liechtenstein, Iceland, and the United States. For example, I'm Canadian, but I signed up for N26 as soon as I moved to Berlin. If you live in one of the countries above AND are a citizen of one of the 164 countries below, you can sign up for N26: Yes! As I demonstrate in my original N26 bank review, you get free ATM withdrawals worldwide with your N26 Black card, which includes ATMs in South Africa. If you don’t have N26 Black and are on N26’s free plan, 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. N26 You and N26 Metal comes with an impressive travel and medical insurance plan to keep you safe and secure on the road. It's not quite as comprehensive as the SafetyWing insurance plan, which we highly recommend combining with your N26 membership, but it does cover a lot: N26’s fee structure is eight pages long and pretty dense, so here’s the important stuff: N26 Metal includes all of the benefits of N26 Black listed above, plus dedicated (priority) customer support and, of course, the metal card itself. I recently wrote a 2,000-word N26 Metal review that goes deep into N26's super-premium card. N26 Metal also comes with a growing number of exclusive partner offers and benefits, which rival the benefits of much more expensive premium credit cards like the American Express Platinum. These benefits include: N26 Metal currently costs €16.90/month. With its impressive insurance policy, fee-free foreign cash withdrawals, and the app’s ease of use, I really couldn’t be happier as a member of N26 You. It’s made banking a lot easier and cheaper for me, and has solved a lot of the messy problems I had before (ie. expensive and vague travel/medical insurance policies, plus spending nearly $100/month on hidden ATM and currency exchange fees). And you don't even need an N26 promo code to get started (Spoiler: N26 promo codes have gone extinct). To sign up, you just need to provide standard personal information (name, date of birth, etc.) and a valid ID or passport. Once you’ve signed up, verified your ID in the app and paired your smartphone (it takes 8 minutes total), they’ll send you your free MasterCard in the mail. Mine took just 2 days to arrive, and it comes in a pretty sleek package. Comment below if you have questions about N26 and I’ll do what I can to answer them, or you can also reach N26’s support team via their app or website.
Can I withdraw money for free with my N26 card when I’m in South Africa?
What insurance comes with N26 You and N26 Metal?
How much does N26 cost?
N26 Metal
How To Sign Up For N26
Hi, Thanks for this posts aimed specifically at us South Africans.
I recently moved to Germany and opened an N26 account, but have since been unable to find out how I can send/transfer money from my n26 account to my South African bank account when needed. Transferwise is touted as this great partener, opening up international transfers, but it doesn’t list SA as an option of supported countries for transfer.
Can you let me know how I can get around this, or what I’m missing?
Thanks
Hi Lakshmi. Good question, but are you sure you can’t send money to South Africa? I just tried to do it using my own TransferWise account and it looks like it’s possible. The exchange rate is pretty bad, admittedly, but sending Euros to South Africa should be doable. Let me know if you’re not able to replicate this.
Good Evening,
I recently moved to Ireland from South Africa, where I was born and raised. I have opened up my N26 account and did the automatic initial transfer of funds, to set up the account (150 euros). Using the card and even making transfers to other accounts has been very easy and super simple. HOWEVER, now that my funds are almost done and I am looking to transfer money I have in my South African account (FNB), I am having some serious hassles. I have tried to load my N26 account as a beneficiary on FNB forex but the IBAN of my N26 account is not recognised!
Can you assist me with this issue? If I can’t get my funds transferred from my FNB account, I am going to have to cancel this account and look at rather opening a conventional bank account with AIB in Ireland. I really don’t want to do this!! Please help…
Thanks in advance
Nelson
Hi Nelson,
Thanks for getting in touch, and I’m sorry your IBAN has been giving you troubles. I can’t quite figure out what the problem would be here. I suggest setting up an account with TransferWise, which works for just about everyone. From there, you should be able to do a direct bank transfer (or even a debit transaction) from your FNB account to TransferWise, which will pass the funds on to your N26 account. I’ve used TransferWise to make this transaction plenty of times and it’s always worked without a problem (granted, my transfers were generally coming from CAD or USD to EUR, not ZAR).
I’d say there’s a 95% chance this will work for you, so give it a shot and let us know if it works! Thanks and good luck, Nelson.
Jordan
Founder | How I Travel
Why can’t South African Residents apply for the N26 Account?
Why can’t South African Residents apply for the N26 Account – only South Africans living in the following countries are allowed to open a N26 Account: “Services and Fees are for anyone who registers with an address in Belgium, Estonia, Finland, Greece, Ireland, Lithuania, Luxembourg, The Netherlands, Portugal, Slovakia, Slovenia, Sweden, Norway, Denmark, Poland, Iceland and Liechtenstein.”?
Hi Rochelle, South Africans living in South Africa can’t apply for N26 for regulatory reasons. Banks have to pass a lot of regulatory restriction before they can operate in a given country, and so far that list of countries is where N26 has navigated through those regulations.
Great article. I’m now living in Tubingen Germany, but still have accounts to settle in South Africa and this was a great help. I will be joining N26 and money Transfer. Thanks
Glad to hear we could help you, Brian!
I think N26 is an excellent concept, but I do not live in one of the allocated countries. Is it possible to assist in speeding up the process of getting N26 approved in certain countries? Is there somewhere were I can find out whether the application has been made, or why it does not comply with regulations?
Hello! My question is, I am an Italian resident but I am currently in South Africa and will be here for another 3 months.
Will I be able to receive the physical credit card here?
Unfortunately my current credit card is due to expire soon, and my other one is an Amex , not really accepted here, so I urgently need to decide and find an alternative (other options being Revolut or opening a local bank account for non residents)
Any help would be appreciated!
Thanks
Hi Stella, you won’t be able to receive either an N26 or a Revolut card direct to your address in South Africa. Instead, I suggest applying for your N26 card using your home address in Italy, and then asking a family member forward the card on to you in South Africa. Here’s a direct link to where you can apply. Good luck!
Hie l am a Zimbabwean currently in Norway l am thinking of getting n26 bank , my question is if l go back home will my employer able to transfer my salary into n26 l will be working in South Africa?
Yes, definitely. I’ve used my N26 card all over the world (including for receiving direct deposits and salary transfers), and I’ve never had a problem receiving it to my N26 account. You’ll get the best available offer on N26 by signing up here.
We have a house in South Africa for renting out. I’m thinking about opening a local bank account here or use a n26 account instead. Do you think I can pay electricity gas and all the expenses via that n26 account? What about the exchange
Definitely. The exchange rate with N26 will be very good, extremely close to the interbank rate shown on Google when you search for something like 1,000 EUR to ZAR.