🏦 N26 Business review: our complete analysis for 2026

Heropay has reviewed the situation for you:

• N26 Business is a mobile solution targeting sole traders and freelancers starting their activity.

• Its Standard offer is free (excluding hidden fees) and allows you to earn cashback on certain purchases.

• It is a top choice for travel: payments in foreign currencies are fee-free.

• Warning: account opening is strictly forbidden for Limited Companies (Ltd, LLP...), available only to sole traders.

• You will not benefit from any financing solution, authorized overdraft, or cheque deposits.

• Note that paid plans (Smart, You, Metal) require a 12-month commitment.

• If you really want a free offer, plan to evolve your legal status, or need cash flow, Heropay will be more suitable.

Quick overview of N26 Business

Launched in 2013, N26 is the German neobank that revolutionized the market with its 100% mobile experience. It holds a full European banking license.

Its "Business" offer targets exclusively freelancers and sole traders.

Its positioning is clear: simplify daily banking with a free offer, fee-free payments abroad, and cashback on expenses.

What are the fees for N26 Business?

N26 offers a range of four plans, from the free account to the premium "Metal" offer.

• N26 Business Standard (£0/month):

  • Account with a free virtual card (physical card optional: £10 delivery fee).

  • 0.1% cashback on purchases.

  • Unlimited and free card payments (even in foreign currencies).

• N26 Business Smart (£4.90/month):

  • Coloured physical card included.

  • Phone support.

  • Up to 10 "Spaces" sub-accounts to manage your budget.

• N26 Business You (£9.90/month):

  • Free and unlimited ATM withdrawals in foreign currencies.

  • Complete travel insurance (medical, flight delay...).

• N26 Business Metal (£16.90/month):

  • 18g Metal card.

  • Cashback boosted to 0.5%.

  • Extended insurance (car rental, phone...).

Important note: Paid plans require a 12-month commitment.

What are the key features of N26 Business?

The offer is tailored for the mobile freelancer who wants to manage finances from their phone.

• International payments: This is its greatest strength. Card payments are fee-free in all currencies, on all plans.

• Cashback: N26 returns 0.1% (or 0.5% on Metal) on all purchases made with the card. This is rare for a business account.

• Budget management: The "Spaces" feature allows you to create sub-accounts to set money aside (taxes, projects) easily.

• Local account details: N26 provides local account details (Sort Code & Account Number) to facilitate direct debits (HMRC, taxes).

However, the offer is very limited regarding traditional banking services: no cheque book, and no credit solution.

Pros and cons of N26 Business

In which cases does the N26 Business account show its limits?

N26 is excellent for basic usage, but it becomes a blocking constraint as soon as your status or needs evolve.

Let's take the example of Sarah, a freelance consultant who started as a sole trader with N26. Her activity takes off (£80k turnover) and she decides to switch to a Limited Company (Ltd) to optimize her tax situation.

• The problem: Sarah wants to transform her N26 sole trader account into an account for her Ltd.

• The limits of N26: It is impossible. N26 refuses company incorporation documents. Sarah is forced to close her account and switch banks urgently, losing her history and account details. Furthermore, she needs a cash flow advance to buy equipment, which N26 does not offer.

• The Heropay solution: With Heropay, Sarah could have kept her account while switching to a Ltd without friction. She could also have benefited from instant financing for her equipment and made her excess cash flow profitable.

The best alternatives to N26 Business

If you are a Limited Company, or if you need financing, N26 is not for you.

Let's compare it to more comprehensive alternatives:

Verdict: our final opinion on N26 Business

N26 Business is undoubtedly the best option for a "digital nomad" sole trader just starting out.

If you travel a lot and want a free account that doesn't charge fees abroad, it's an excellent choice.

However, the impossibility of opening an account for a company is a major limit. If you plan to evolve your legal status, N26 will block you.

According to Heropay, the total lack of financing is also a risk: in case of the unexpected or an investment need, N26 will be of no help.

Heropay: the alternative designed for growing businesses

Unlike N26, which limits you to the sole trader status, Heropay is designed to accompany you regardless of your status (Sole Trader, Ltd, LLP...).

With its free Hero X offer, you enjoy the benefits of a modern neobank, but with two major assets for your growth:

1. Instant financing: Pay your supplier invoices even if you are a bit tight on cash (up to £50,000).

2. Profitability: Your cash doesn't sleep; it is remunerated up to 5%. This is often much more profitable than 0.1% cashback.

Your questions about the N26 Business pro account

Is N26 a real bank?

Yes. N26 holds a European banking license issued in Germany. Your deposits are guaranteed up to €100,000 (approx. £85k) by the German Deposit Guarantee Scheme, offering a high level of security.

What are the limits of the N26 Business card?

The limits are customizable in the app. By default, the payment limit is often €5,000 per day, and withdrawal €2,500 per day, which is comfortable for a freelancer.

Can N26 be used for international transactions?

Yes, absolutely. This is its strong point. Card payments are free in all currencies. However, for outgoing international transfers (SWIFT), N26 uses a partner (Wise) integrated into the app.

How is Heropay a better alternative to N26 for a small business?

According to Heropay, N26 is unsuitable for small businesses because it refuses company statutes (Ltd). Heropay accepts all legal forms, allows team management (multiple cards), and offers financing, three essential elements for a small business.