N26 vs Bunq (2026)
Verdict
Choose N26 if you have an EU address and want a sleek, free everyday bank. Choose bunq if you don't have an EU address yet, or want more card slots and environmental features.
N26 and bunq are two of the very few fintechs in Europe with a full banking licence. Both offer real IBANs and deposit protection up to €100,000 — but they target different users.
Feature comparison
What they have in common
N26 and bunq are rare in the fintech world: both hold genuine European banking licences and are covered by their respective national deposit guarantee schemes up to €100,000. While Revolut and Wise safeguard your funds in segregated accounts, N26 and bunq offer the same legal protection as a traditional high-street bank. That alone sets them apart from the crowd.
Both offer modern apps, instant payment notifications, virtual and physical cards, and a seamless onboarding experience compared to traditional banks.
Where they differ
N26 is a German bank regulated by BaFin (Germany's financial regulator) and is covered by the German Deposit Protection Fund. N26 requires an EU address to open — you cannot onboard as a pure non-resident. It operates in 24 European countries and has over 8 million customers.
bunq is a Dutch bank regulated by De Nederlandsche Bank (DNB) and covered by the Dutch Deposit Guarantee Scheme. Crucially, bunq does not require a local address — making it the only fully licensed EU bank accessible to expats before they arrive.
Pricing comparison
- N26 Standard: Free. Full bank account, Mastercard, 3 free ATM withdrawals/month in EUR.
- N26 You: €9.90/month. Adds travel, medical and winter sports insurance.
- bunq Easy Bank: €3.99/month. Dutch IBAN, 3 Budget accounts, Mastercard.
- bunq Easy Bank Pro: €9.99/month. 25 Budget accounts, travel insurance, joint accounts.
N26 wins on cost if you use the free Standard plan. bunq has no free option but justifies the fee with unique features like multiple IBANs and remote opening.
Who needs a local address?
This is the decisive factor for many expats. If you are moving to an EU country and need a bank account before you have a registered address, only bunq serves you. N26 will require you to have an EU address on file.
If you are already settled with a local address, N26's free Standard plan is excellent value — and it comes with Spaces (sub-accounts) that make budgeting simple.
Features at a glance
| Feature | N26 | bunq |
|---|---|---|
| Monthly fee | Free (Standard) | From €3.99/month |
| Deposit guarantee | Yes — €100,000 (Germany) | Yes — €100,000 (Netherlands) |
| Open without local address | No | Yes |
| Sub-accounts (own IBANs) | Spaces (shared IBAN) | Up to 25 Budget accounts (separate IBANs) |
| Overdraft / credit | Yes (Flex) | No |
| Available countries | 24 EU countries | 30+ countries |
| Eco features | No | Yes (tree planting) |
Bottom line
Both are excellent full EU banks. If you have an EU address and want a free, sleek everyday bank, N26 is the easier choice — especially with its overdraft facility. If you don't have a local address yet, or you want multiple real IBANs for budgeting, bunq is the only licensed bank that accommodates you.
N26
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