Personal Finance Tips

All about N26 in Malaysia [2020]

Yumiko Kijima

22.04.20 (updated more than 1 year ago)

Read time 2 minutes

Already an N26 customer? You don’t need to leave your app to benefit from Wise. N26 has partnered with Wise Platform to integrate global payments infrastructure directly into its services. That means that N26 customers can access international payment capabilities within their banking experience.

And, because N26 has partnered with Wise Platform for multi-currency payments, when you use N26 services, you may be able to access international payment features powered by Wise.

Download the N26 mobile banking app on Google Play or the App Store to explore its features.

N26 was one of the first mobile app-based banks when it first launched in 2015¹, and it’s now used by millions of customers across the EU and the US to send and receive money.

Here, we’ll take a look at what you can do with N26 and whether N26 is available in Malaysia.

What is N26?

N26 is ideal for travellers. In fact, it’s what the German-based online-only bank was designed for. It’s a digital bank, with no physical branches.

It aims to make it quick and easy to send, receive and withdraw money on the move. You simply download an app to your smart device, create an account and away you go.

Is it possible to open a N26 account in Malaysia? Check if you’re eligible or not

If you have a home address in Europe or the U.S., you can sign up for an N26 account². As the UK has now left the European Union, N26 is not accepting new applications from UK customers, and is closing existing UK accounts³.

	N26 is available in following countries
	Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, the Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the US.

N26’s eligibility rules mean that if you are a resident of Malaysia, you are not eligible to open an account with N26.

However, if you are a Malaysian national with an address in any of the countries where N26 is supported, you can sign up.

Things to remember when you send money abroad

If you're an expat or traveller, you might need to send money abroad regularly.

A crucial thing to remember when sending money abroad is to always check exchange rates, as the true cost of an international transaction isn’t just the upfront transfer fees.

How to open a N26 account

What documents do you need to open a N26 account?

If you live in an EU country or the U.S., you’ll need to provide some basic information – name, email address, date of birth, phone number, address etc – and some documentation to verify your ID.

The ID documents you need depend on your nationality, and whether or not you have an address in Germany, Spain, or a different country⁴.

If you are Malaysian, you need your passport to verify your identity⁵⁻⁷.

Steps of opening a N26 account⁸

Go to their website and click “Open Bank account”
Fill in personal details such as your country of residence, your name and date of birth etc
Put your home address where you’ll receive a N26 Mastercard
Download the app
Verify your ID – snap a photo of your passport, ID document or both, depending on your nationality and address
Add funds to your account via bank transfer or CASH26 deposit (if you are in Germany, Austria or Italy)
After a few days, you’ll receive your N26 Mastercard

N26 is undoubtedly a handy way to manage money on the move, especially for expats and travellers. But for people in Malaysia where N26 isn’t available, there are other solutions available. Make sure you do a little research and see what’s right for your needs.

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.