A short pros and cons analysis between N26, Revolut and BNEXT

Even if we still have to count on cash because unfortunately the cashless revolution has just started, and much local business hasn’t switched to tech-payments, we have a multitude of alternatives in terms of online bank accounts and credit/debit cards that we have never had before.

As one of the Madridiana co-founders works in Fintech and is always answering to friends dilemmas about:

whose the best online bank account or debit card?

we have decided to prepare our very own view about the best debit cards, starting from our own experience with N26, Revolut and BNEXT.

As always, what is a priority for us (like the design) might not be a relevant feature for you, so we have evaluated different points, and for every card, we have a special bonus if you register from our referral link :) 

Let’s start with the most famous.

1) N26 the german unicorn

Probably we all have seen at least an advertisement, online or offline, from the famous German brand N26. 

I’ve to be honest, when I started following at least 3 years ago the brand on social media I have always thought that the communication was too corporate, maybe too cold, especially when compared to the second card I am going to mention later.

But later on, they have differentiated the brand with a more informal tone of voice and a very cool campaign. 

As mentioned the company is German, so the IBAN of your account will be german (starting with DE) but they are launching new national IBAN for each country, Spain, for example, has already the ES bank accounts. 

PROS ✔️

• Free withdrawal with no limit amount with the free card
• The exchange rate with no commission
• Apple pay and Google pay configuration available
• Free bank transfers in Europe
• The customer service is really helpful and has many options of contact

CONS ❌

• The only available option to fund your account is bank transfer or with Cash26 by cash, but it is not that widespread to be considered an advantage
• The saving option called Spaces doesn’t have an automatic option, you have to build it manually. 

The N26 basic account is free, you won’t have advantages in the shipping. Right now there are no available bonus for new registration.

2) REVOLUT hacking the system

From Germany to the UK, the second credit card that we have analyzed, but actually the first one we have tried is Revolut. The second unicorn of the list and a very interesting marketing case because they have launched without spending big budget like the other competitors, no banners, no advertising, just hacking the growth with a smart and transparent way of communicating with their prospects, mostly based on emojis. 

PROS ✔️

• Free bank transfers in Europe
• The round-up system that helps you so micro savings in every purchase (Vaults)
• Fund your account with bank transfer, credit/debit card or PayPal (a very good and unique option)
• Apple pay and Google pay configuration available
• Buy cryptocurrency through the application

CONS ❌

• The new trading free of commission feature is only available for premium accounts
• With the free account, you can only withdraw 200€ a month
• The exchange rate with commissions during the weekends (when the stock exchanges are closed)
• The pride card was a limited edition card, I got mine, but I think it should be a standard card.

We’ll both gain 10€ if you register from my referral link, sounds great right? You just need to do the identification process and order your card for free, you won’t have shipping costs with this link ➡️  https://revolut.com/referral/diana3l1!G10D21

3) BNEXT viva España 

BNEXT is the Spanish online credit card, not so famous outside Spain, but if you live in Spain it’s quite a good option.

Actually, being active in the Fintech ecosystems meetups and event, don’t actually remember when, but we have met a few years ago the team members of BNEXT and have started following their path since then. 

They have won lot’s of prices in Spain for emerging payment service and innovative Fintech, everyone loves BNEXT.

Expect for being fuchsia and not presenting any premium version, the card is completely free but in order to receive it, you have to make the first transfer on your account.

It is probably the card I’ve used the most, there is a minimum amount for the transfer of 25€ and the deposit is extremely quick, I usually charge it just when I actually need it and queuing to pay in a shop/bar. 

Probably is not the best option while traveling, but living in Spain there are several advantages for choosing BNEXT

PROS✔️

• BNEXT is a Visa card, maybe it’s not an advantage but if you, for example, want to have different circuits, the others are all Mastercard
• A new pro version is coming soon
• All the cashback and discounts for phone insurance, travel insurance and so on.

CONS ❌

• Only have 3 free withdraw each month and a maximum of 500€ (than you pay 1.15% of the commission in the EU and 1.5% in the US)
• Also for traveling you have a limited expense of 2.000€ for free, then you pay 1.15% of the commission in the EU and 1.5% in the US
• You need to fund your account with at least 25€ in order to receive the card
• The app is Spanish and so far only available in Spanish.

There is a nice referral program, a few times a year they also usually rise the bonus up to 10€, but the ordinary one is 5€ for both if you register from this link and order a free card from BNEXT ➡️ https://share.bnext.es/391720756

4) More and more coming soon

More reviews coming soon to complete my ranking with Bunq, Transferwise and Monese, whose applications are already on the “Bancos” folder in my phone. I wish my favorite Fintech of all the time, Nubank, a Brazilian challenger bank worth $10 billions will be available in Spain in order to try it and rate it.