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2024 N26 Bank Account Opening Guide in Germany#

Today, I will introduce the step-by-step process for opening an account with N26 Bank in Germany. Without further ado, let's get started.

Updated on 2024.3.14: Based on feedback from many users, the threshold for opening an N26 bank account has been lowered. When selecting a residence during account opening, it is not necessary to choose Germany; you can successfully open an account by selecting other European countries. If you do not choose Germany as the account opening country, you can skip the video verification.

Table of Contents#

• Introduction to N26 Bank
• Requirements for Account Registration
• N26 Bank Account Opening Tutorial
• Details on N26 Video Verification
• Account Activation
• Summary
  • Update on May 10, 2022

Introduction to N26 Bank#

The bank was founded by Valentin Stalf and Maximilian Tayenthal in 2013. In July 2016, it obtained a banking license from Germany's financial regulatory authority, BaFin. In March 2018, Chinese internet giant Tencent Holdings invested in the bank, becoming a major shareholder.

The bank currently provides services in 22 European countries. This digital bank has over 1,500 employees and offices in Germany, the United States, Brazil, Spain, and Austria, and has ranked among the top ten most valuable fintech companies in Europe.

On February 11, 2020, due to the UK's exit from the EU, the bank ceased operations in the UK on April 15, 2020, and closed all accounts. On January 11, 2022, it stopped its digital banking operations in the United States, citing a strategic shift to focus more on its core European business.

The bank collaborates with Wise (formerly TransferWise) to integrate remittance services directly into the app, allowing for the exchange of euros with 19 currencies without any fees.

Requirements for Account Registration#

1. Phone Number: It is not recommended to use a mainland China phone number, as there may be issues receiving verification codes. You can use a Hong Kong phone number or Google Voice; if possible, it is best to use a phone number from the registration location.

2. Personal Passport: Users from mainland China can only open accounts with a passport and cannot use an ID card. For support in various countries and regions, refer to this document.

3. Registration Environment: It is advisable to use an IP address from the account opening region; at the very least, ensure it is a European IP address.

   Note that if you register with a German IP and choose a German address as your residence, video verification will definitely be triggered. Choosing to register from other European countries does not require video verification.

   Currently, services in the United States and the United Kingdom have been discontinued, and only Germany, Austria, France, Spain, Switzerland, and other EU countries support online account opening. You can check the official website for support in other EU countries. N26 will later launch account opening services in Brazil, but the specific launch date is yet to be determined.

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After entering the page, click “Open Bank Account” to reach the registration page.

Enter the country you want to open an account in, click “Get Started,” and if the following image appears, it means that account opening is supported in that country.

If the following image appears, it means that account registration is not currently supported in that country.

It is recommended to open an account through Germany or Austria, as these countries do not require a personal tax number. Some EU countries, such as Spain, do require a personal tax number, which can be cumbersome!

4. Email Address: It is best to use an internationally recognized email address; a NetEase 163 email is also acceptable.

5. Residential Address: Currently, N26 only supports account opening for EU residents, so your residential address must be a real address in the chosen EU country. Find an address that looks like a residence on Google Maps, and note down the latitude and longitude and address information for easy modification of location information.

6. Location Information: If you are not in the local area, you must modify your phone's location. iPhone users can use iTools to change the location address, and Android users can download corresponding virtual address modification software.

N26 Bank Account Opening Tutorial#

This article provides a practical tutorial for registering a German N26 account.

1. Go to the official website and click “Open Bank Account” in the upper right corner to enter the registration page.

   

   Enter Germany, then click “Get started.”

2. Enter personal name, email, and date of birth (day/month/year).

   

3. Enter phone number.

   

4. Enter personal residential address.

   Click “Enter address manually.”

   

   Enter the German address, then click “Continue.”

   

5. Confirm address information.

   

6. Fill in personal information.

   Fill in personal information truthfully according to passport information.

   

7. Fill in employment information.

   Just choose truthfully.

   

8. Fill in income source information.

   Choose truthfully.

   

9. Fill in the industry you work in.

   

10. Select the purpose of the account.

    

11. Indicate whether you are a U.S. resident and pay taxes in the U.S.

    Here, we all choose no.

    

12. Confirm account opening completion.

    After filling in the above information, click confirm to complete the basic account opening process.

N26 Video Verification Details#

If you choose Germany or Austria as the account opening country, video verification may be triggered. Here are the details of the verification:

• Required Preparation:
  • Passport
  • Good internet connection
  • Quiet and well-lit environment
• Notes:
  • Follow the staff's instructions to complete the passport and selfie capture.
  • Communicate in English; if you encounter issues, you can contact customer service via email.
  • Ensure a stable internet connection; otherwise, the video verification may be interrupted.

Video Verification Steps#

1. Log in to the N26 App and enter the video verification step.
2. Show the front of your passport and your personal photo to the customer service representative.
3. Follow the instructions to take a selfie or record a short video.
4. After completion, the customer service representative will inform you whether the verification was successful.

If you register from other EU countries, you can bypass video verification and directly complete account activation.

Account Activation#

1. Account Activation Method: After account activation, an IBAN and BIC (Bank Identifier Code) will be generated, allowing you to receive and send funds normally.
2. N26 Account Card: After successful activation, you can apply for a physical bank card, but it will need to be mailed to a European address. Note that there may be delays in receiving the card.
3. Account Operations: It is recommended to download the N26 App to manage your account, make transfers, and check your balance.

Summary#

Advantages#

• No need to visit a bank in person.
• Low fees and convenient remittance.
• Supports multiple currency conversions.

Disadvantages#

• Requires preparation of a virtual environment for account opening.
• If you choose Germany as the account opening country, video verification is required.

Update on May 10, 2022#

• Registration conditions have been further relaxed.
• Users from outside Europe still need to refer to the above steps for adjustments.

Related Resources#

• N26 Official Website
• More Tutorials and Cases

Disclaimer: The above content is for reference only; actual account opening conditions are subject to the N26 official website.