N26
German neobank with a full banking licence from BaFin, operating across 23 European countries. Founded in Berlin in 2013, converted to a pan-European Societas Europaea (SE) in January 2025, and fully focused on Europe after exiting the US in 2021.
Quick facts
A full German banking licence backs every account, and the same app and terms follow you across 23 countries rather than a patchwork of local products.
BaFin has twice ordered additional regulatory oversight since 2021 over compliance gaps, and N26 has fully exited both the UK and US markets.
Why does it score 86?
Incorporated in Berlin, Germany – a full EU member state.
Venture-backed with a German parent company, keeping control inside the EU rather than with a non-EU investor.
N26 runs its own banking infrastructure in Germany rather than a third-party processor.
GDPR-compliant, but the app isn't open source, and BaFin ordered additional regulatory oversight in December 2025 over compliance gaps in its Dutch mortgage operations.
See how they compare
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