N26 Digital Bank Arrives in Brazil
Despite its delayed launch, the German digital bank is now in Brazil, but still in the testing phase. Read the test and learn more. about N26 Digital Bank!
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N26 Digital Bank is present in 25 countries and is currently arriving in Brazil.
The wait for this bank is not new, mainly because there were comments that it would be a competitor to Nubank.
For now, we still don't know much about this bank and what it will offer Brazilians, but expectations are high.
At the moment, the application and its features are still in the testing period and only 2,000 people have registered.
However, there is a waiting list, and you'll find out how to join in this post. Other than that, you'll also find out some details about the available options. N26 Digital Bank.
Some information was obtained from the N26 digital account in Europe, and it appears that it will work the same way in Brazil, but be prepared for changes or updates to the information, okay?
So, let's get to know this bank? Keep reading! See our index below:
- What is N26;
- N26 is safe;
- Main features;
- Virtual cards;
- Fees and rates;
- How to get on the waiting list;
- Conclusion.
What is N26?
N26 is an online or digital bank, whichever you prefer. Like all digital banks, its mission is to simplify the lives of users of banking services and products.
The biggest feature of a digital bank is that it doesn't have a branch, so you can do everything you need from wherever you are, just through the app or website.
With N26 Digital Bank, it's no different; you have control over all your operations right in the palm of your hand.
N26 bills itself as a fincare company, the first in Brazil. This means that in addition to offering banking services, users will have access to a platform focused on financial education.
The bank was created in 2013, but launched as a startup in 2015. It was the first digital bank in Europe.
Is N26 Digital Bank safe?
Yes. The N26 Digital Bank It's safe and has a regular banking license. It also has a Germany Bank Guarantee, a set amount of collateral for any potential problems.
This guarantee or protection is something similar to what we know here in Brazil as the Credit Guarantee Fund.
Therefore, you can rest assured that this fincare is safe.
Main features of the application
Well, this digital bank's layout is very minimalist and easy to use. For people new to digital banks and apps, it's a great option.
Soon, they will be able to access the app and make their transactions quickly and easily.
Here in Brazil, we already have the convenience of Pix, but N26 users in Europe can make instant transfers to other bank users.
Other than that, you can still split the transfer amount with someone else easily.
Another important tool available in the app is Spaces, which works like a sub-account, or what we can popularly call a piggy bank.
It was created to help users get their financial lives in order. With this tool, you can keep your money saved, that is, separate from your balance, just like Nubank.
The difference is that in the Nubank this money yields, but not at N26, it's just for storing and separating money.
Virtual cards
A very interesting new feature from Fincare is that users can generate multiple virtual cards to help separate expenses.
For example, you can generate a virtual card for Mercado Livre and a new virtual card for Uber.
The idea is to make transactions more secure, as it is easier to block a virtual card.
Fees and Rates
The tariff table of the N26 Digital Bank It's not yet available for consultation on the website. However, we have access to the European table.
Of course, it's just to have some knowledge, as it's not possible to make a comparison between the euro and the real, but let's say we only consider the numbers and not the currency conversion, it's even easier to get an idea.
For example, the daily spending limit on European accounts is 5,000 euros, meaning you cannot spend more than that on your account daily.
If we use the same number here, but without the conversion, the result is the daily limit of R$5 thousand reais as well, but it is just a guess, we have to wait to know if there will be a limit for us and what it will be.
Continuing, spending with foreign currencies is free, there are no limits and no charges on international purchases.
Withdrawals within the eurozone have a fee of €2 each, but the first three monthly withdrawals are free. Outside the eurozone, the fee is a percentage, in this case 1.7% of the amount.
The only ways to deposit money into your European account for free are via bank transfer, QR Code, or via contacts.
Users who choose Apple Pay pay a 3% fee, which is very disadvantageous.
We believe they will try to adapt as much as possible to the services and fees of Brazilian digital accounts, otherwise, they will not be well accepted.
Our digital banks are simplified, economical, and bureaucracy-free, so it wouldn't make sense to switch to banks with fees, a lot of bureaucracy, and inaccessible services.
However, we are rooting for N26 Digital Bank to be another tool to simplify our lives.
How do I get on the waiting list to open an account at N26 Digital Bank?
The waiting list currently has more than 200,000 people, when the 2,000 were chosen to test there were only a little over 25,000.
On the website, when you click on the “Insider” tab, you can see suggestions from people who are already testing the account. Additionally, each suggestion has icons that show whether the suggestion is under review, being planned, or has been closed, for example.
It's really interesting to visit this area, as it gives you an idea of what to expect and what users think of the app.
Conclusion
The main focus of N26 Digital Bank It's financial education, creating solutions to help you organize your financial life and have better control over your money.
On the website, when you click on the “Insider” tab, you can see suggestions from people who are already testing the account. Additionally, each suggestion has icons that show whether the suggestion is under review, being planned, or has been closed, for example.
It's really interesting to visit this area, as it gives you an idea of what to expect and what users think of the app.
