N26 confirmed in late 2017 that they were going to open up to American customers soon. Initially, they hinted at a 2018 launch, but I have learned through a few independent sources that that’s no longer the case.
While not officially confirmed by N26, my sources all said that an early 2019 (Q1 or Q2) launch is most likely at the moment. Update: N26 has confirmed that they will launch in the US in the first half of 2019.
If you want to be notified when you can sign up for N26 in the US simply click here.
(Probably I will even get you access before the official launch—I have my methods 😉)
How to open an N26 account in the United States now
You can already open an N26 account while being located in the US right now, with the following caveats:
- You need to have a European mailing address
- The account will be based in Germany (or the United Kingdom), so it’s not practical to use for transfers or direct deposits in the US. But as a travel card, it’s still useful—especially if you have income in Euros.
How to open an N26 account in the US when it’s officially launched
While we don’t yet know what the process will look like, what is nearly certain is that you will be able to open an account in a few minutes just using your phone.
It is not yet known if the verification processes will involve taking a picture of your State ID or passport, or if it will simply verify your identity by looking up your SSN and address information through a credit rating agency (like most US banks currently do).
What features will N26 offer in the US?
While we don’t know anything officially yet, I guess that N26’s product will resemble that of Simple in many ways. Meaning a user-friendly app, no overdraft fees (since the account probably won’t support checks, and therefore cannot be drawn into the red), no foreign exchange fees, and no monthly fees for at least their primary offering.
It’s also a possibility that N26 will launch with built-in support for TransferWise, and maybe even with their premium plans with travel insurance, metal card, and a free WeWork membership.
Only time will tell… But if their European product is any indication, whatever they launch is sure to be great!