N26 vs Bunq for Expats in the Netherlands 2026

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Quick answer: For expats in the Netherlands, bunq’s main advantage is its Dutch NL IBAN from a bank licensed by De Nederlandsche Bank. N26 is a German bank and gives a German DE IBAN; Dutch employers and companies may not refuse it (De Nederlandsche Bank), but an NL IBAN avoids the discussion.

If you’re moving to the Netherlands long-term, bunq is the natural choice. If you already have N26 from another EU country, you can keep using it.

For living in the Netherlands, the IBAN is the main practical difference between the two.

For a broader look at all banking options for expats here, read our complete guide to the best banks for expats in the Netherlands.

Why the IBAN Question Comes Up in the Netherlands

In the Netherlands you will probably set up automatische incasso (direct debit) for many recurring payments, such as health insurance, energy bills, subscriptions and phone contracts: you give your IBAN to a company and it collects the payment on a fixed date.

Under the SEPA Regulation (EU 260/2012), Dutch companies must accept euro IBANs from all EU/EEA countries for transfers and direct debits, so a German DE IBAN from N26 is valid (De Nederlandsche Bank).

If a company or employer still refuses your DE IBAN, De Nederlandsche Bank calls that IBAN discrimination: complain to the company first, and if that does not help, report it to DNB using its online form.

With a Bunq NL IBAN, that discussion does not come up.

This is covered further in our first year in the Netherlands guide, which covers everything from registration to utilities in your first twelve months.

N26: The German Bank That Works (Almost) Everywhere

N26 was founded in Berlin in 2013 and is supervised by BaFin, the German financial supervisory authority (N26: About N26 and imprint). N26 says it was the first 100% mobile bank to be granted a full German banking licence. An account opened in the Netherlands gets an official German (DE) IBAN, according to N26.

N26 says it serves millions of customers across Europe and says it reached its 24th European market in 2019 (n26.com, About N26, checked 30 September 2026). The app is available in English, and the free Standard plan has no monthly fee.

N26 Plans (2026):

• Standard (free): Basic current account, DE IBAN, free virtual debit card (a physical card costs €10), 2 free ATM withdrawals in euros a month
• Smart (€4.90/month): a free physical debit card and up to 10 Spaces sub-accounts
• Go (€9.90/month): travel insurance from Allianz Assistance and free ATM withdrawals outside the eurozone
• Metal (€16.90/month): metal card, phone insurance and a priority support line

N26 also offers investing: stocks, ETFs and ETCs at €0.90 per trade (3 free trades a month on Go, 10 on Metal) and ready-made funds with a management fee of 0.55% on Standard, 0.39% on Go and 0.29% on Metal; execution and custody are by Upvest Securities GmbH (n26.com plan comparison, checked 30 September 2026). We come back to the investing comparison later.

For expats already using N26 in another EU country, N26 has one practical advantage: you may be able to keep your account and IBAN when you move, so you do not have to update every provider; check with N26 first.

Bunq: The Dutch Bank

Bunq was founded in 2012 by Ali Niknam (bunq.com/about) and holds a banking licence from De Nederlandsche Bank. Its standard IBAN is Dutch (NL) for accounts opened in the Netherlands (bunq Help). This is the main practical difference between the two banks for someone living in the Netherlands.

The bunq Pro plan gives you up to 25 sub-accounts — Money Pockets, each with its own IBAN — which you can name and organise for any purpose: rent savings, holiday fund, tax reserve. N26 Smart offers up to 10 Spaces sub-accounts.

Bunq Plans (checked 14 September 2026, bunq Help: What plans are available): bunq retired the old Easy Bank / Easy Money / Easy Green names. The personal line-up is now:

• bunq Free (€0.00/month): NL IBAN, up to 3 bank accounts (Money Pockets) each with a unique IBAN, 1 digital card, no physical card. Foreign-currency spending at bunq’s rate up to €1,000 per year, after which bunq states “a fee of 3% of each further transaction amount applies”
• bunq Core (€3.99/month): “5 Pockets with unique IBAN”, “1 Digital Card and 1 Physical Card”, spending abroad “with a 0.5% markup on the latest rate”
• bunq Pro (€9.99/month): “Up to 25 money Pockets with IBANs”, “25 Digital Debit or Credit Cards and 3 Physical Cards”, “5 Foreign Currency Transfers free every month”
• bunq Elite (€18.99/month): up to 25 Pockets with IBAN, 3 physical and 25 digital cards, worldwide travel insurance, 8 GB of eSIM data a year and up to 10 free foreign-currency transfers a month (bunq.com, checked 29 September 2026)
• bunq Pack (€28.99/month): group plan — 4x Pro Personal, or 3x Pro Personal plus 1 Pro Business

Bunq does now have a free tier, so the old “N26 Standard is free, Bunq is not” argument no longer holds: both entry plans cost €0.00. The difference is that bunq Free gives you an NL IBAN and no physical card, while N26 Standard gives you a free virtual card (a physical card costs €10) and a DE IBAN, which Dutch payers must accept, although an NL IBAN avoids the discussion.

Bunq Business accounts are also available, which we will cover in the freelancer section below.

The IBAN Comparison: This Is Where It Actually Matters

Every other feature comparison between N26 and Bunq — pricing, UI design, ATM fees, travel insurance — is secondary to the IBAN question for someone living in the Netherlands. Everything else can be worked around. The IBAN is either right or it is not.

Here is how each bank stacks up against the things you will actually encounter in Dutch daily life:

Dutch employer payroll: both work. A Dutch employer may not refuse a euro IBAN from another EU/EEA country (De Nederlandsche Bank); bunq’s NL IBAN avoids any discussion.

Belastingdienst (Dutch tax authority): both work. The account you register with the Belastingdienst must be a payment account in your own name; for a foreign account number, such as a DE IBAN, the Belastingdienst has a separate procedure (“Buitenlands rekeningnummer doorgeven of wijzigen”) (belastingdienst.nl, checked 30 September 2026). With bunq’s NL IBAN you use the standard route.

Dutch direct debits (utilities, insurance, subscriptions): both work: a Dutch company may not refuse a direct debit on a euro IBAN from another EU/EEA country (De Nederlandsche Bank).

Cross-border SEPA transfers: both banks can send euro transfers within the SEPA zone.

International transfers (non-EU, or multi-currency): For transfers outside the SEPA zone or in other currencies, compare with Wise. More on that in a later section.

For a comparison that also includes Revolut, see our N26 vs Bunq vs Revolut comparison.

Pricing Side by Side

N26 plan names, prices and features follow n26.com’s plan comparison, checked 29 and 30 September 2026 (see our N26 review); bunq plan names and prices checked 14 September 2026 (bunq Help: What plans are available), bunq Elite features on bunq.com (29 September 2026), bunq ATM fees in bunq Help: What are my ATM fees? and bunq Stocks in bunq Help: Who can use bunq Stocks? (30 September 2026); where the table says “check plan page”, we have not found the detail on bunq’s current pages.

A few things to note from this table. Both entry plans are free, but only bunq’s gives you an NL IBAN; N26 Standard offers a physical card for €10, while bunq Free has a digital card only. N26 Go at €9.90 adds travel insurance and free ATM withdrawals outside the eurozone. On the bunq side, Pro at €9.99 is the cheapest plan with 25 Money Pockets.

For ATM use, N26 Standard includes 2 free withdrawals in euros a month; N26 Go and Metal add free withdrawals outside the eurozone. On bunq Pro and Elite the first 6 withdrawals a month are free, the next 5 cost €0.99 each and after that €2.99 each (bunq Help).

Customer Support: More Important Than It Sounds

Both N26 and Bunq offer English-language support in their apps.

N26 offers 24/7 in-app chat support, with phone support and a priority line on its higher plans (n26.com plan comparison). For Dutch-specific paperwork, such as a bank confirmation letter your employer asks for, ask N26 in the chat what it can provide.

Dutch Tax System: What Both Accounts Mean for Box 3

Both N26 and Bunq are standard current accounts and savings products. From a Dutch tax perspective, balances held in either account count toward Box 3 (income from savings and investments) if your total assets exceed the heffingsvrij vermogen threshold — €59,357 per person in 2026 (confirm with your tax adviser as this changes annually).

The bank you use does not change your tax liability. A €10,000 balance in N26 and a €10,000 balance in Bunq are treated identically by the Belastingdienst for Box 3 purposes. What matters is that you report all foreign and Dutch bank accounts accurately in your annual aangifte.

Toeslagen (allowances) and tax refunds are paid to the payment account you register with the Belastingdienst. It must be in your own name, and for a foreign account number there is a separate procedure (belastingdienst.nl, checked 30 September 2026).

For a full overview of how this works in practice, see our guides on tax returns for employed expats in the Netherlands and the 30% ruling changes.

Investing Features: Both Offer It, in Different Ways

N26 offers stocks, ETFs and ETCs in the app at €0.90 per trade, with 3 free trades a month on Go and 10 on Metal, plus ready-made funds with a management fee of 0.55% (Standard), 0.39% (Go) or 0.29% (Metal). Execution and custody are by Upvest Securities GmbH (n26.com plan comparison, checked 30 September 2026).

Bunq also offers investing: bunq Stocks is available on any bunq plan for verified users aged 18 or over who live in the Netherlands (among other countries), through trading partner Ginmon; nationals of the United States are currently excluded (bunq Help, checked 30 September 2026).

For expats who want banking and investing in one app, both can do it; compare the fee per trade and the fund costs in each app before you choose.

For anyone who wants more control, such as choosing specific ETFs or accessing more markets, a separate broker is an alternative. DEGIRO, the trading name of flatexDEGIRO Bank Dutch Branch, charges fixed fees per order and lets you buy individual ETFs and stocks. Transaction and handling fees apply per trade, and currency, connectivity or external product and spread costs may apply. Read our DEGIRO review for NL expats and our best ETF platforms comparison for more detail.

The trade-off: both apps keep banking and investing in one place, while a separate broker such as DEGIRO lets you choose individual ETFs and stocks yourself. Investing involves risk of loss. This is not investment advice.

Sustainability

Bunq says it is planting 30 million trees across Kenya and Madagascar with its partner veritree (bunq.com/about, checked 29 September 2026). For what each plan includes, see bunq’s current plan comparison.

For expats who factor environmental impact into financial decisions, bunq’s tree-planting programme is the clearer option of the two.

Short-Stay vs Long-Stay: Different Answers

Your choice between N26 and Bunq should be influenced by how long you plan to stay in the Netherlands.

Short-stay expat (under 12 months):

If you are coming for a fixed-term assignment, a research position, or a temporary contract, and you already have N26 from Germany or another EU country, you can keep using N26 (check with N26 what changes when you move). Dutch employers and companies may not refuse its DE IBAN (De Nederlandsche Bank).

If you are a short-stay expat arriving without any existing EU bank account, bunq is the simpler choice: its NL IBAN avoids any discussion when you set up salary, utilities or insurance, even for a six-month stay.

Long-stay expat (1+ years):

bunq’s NL IBAN avoids the foreign-IBAN discussion for as long as you stay. And the entry plan is free: bunq Free at €0.00, with Core at €3.99 and Pro at €9.99 if you want a physical card or the full Money Pocket system.

If you are unsure, start with Bunq and add Wise for international transfers. That covers Dutch daily banking and sending money internationally.

For a detailed comparison including Revolut, read our Wise vs Revolut comparison for expats.

ZZP Freelancers and Business Accounts

If you are a ZZP (zelfstandige zonder personeel) freelancer or running a small business in the Netherlands, the same rule applies: Dutch clients may not refuse a euro IBAN from another EU/EEA country (De Nederlandsche Bank), but an NL IBAN on your invoices avoids questions.

Bunq Business: bunq has business plans with an NL IBAN: bunq Free €0.00, Core €7.99, Pro €13.99 and Elite €23.99 per month (bunq Help).

N26 Business: N26 also offers business accounts (see N26’s business plans); the IBAN is German, and Dutch clients may not refuse it.

For ZZP freelancers, the editorial recommendation is Bunq Business. The NL IBAN alone justifies it.

For more on setting up as a freelancer in the Netherlands, read our guides on ZZP registration step by step and tax filing as a freelance expat.

Add Wise for International Transfers

For regular international transfers outside the SEPA zone — to family in the UK, India, the US, South Africa, or anywhere else that involves a currency conversion — compare the costs at N26 and Bunq with a transfer service.

Wise (formerly TransferWise) converts at the mid-market exchange rate and shows its fee before you confirm; compare that live quote with N26’s and bunq’s.

One common setup for expats in the Netherlands:

• Bunq as your primary Dutch account for daily spending, salary, Dutch direct debits
• Wise for international transfers and multi-currency holding

The two products complement each other rather than compete: you keep your Dutch banking local with bunq’s NL IBAN, and you handle international money movement with Wise.

For a full comparison of international transfer tools, see our complete banking guide for expats in the Netherlands.

Who Should Choose Which

Choose N26 if:

• You already have N26 from Germany or another EU country and want account continuity without switching IBANs
• You want N26’s investing options (stocks and ETFs at €0.90 per trade, ready-made funds from the Standard plan)
• You move between EU countries and want to keep one account (check N26’s conditions for your new country)
• You are comfortable pointing a payroll department to the DNB rule if it asks for an NL IBAN

Choose Bunq if:

• You are new to the Netherlands and have no existing EU bank account
• You are staying in the Netherlands for more than six months
• You want a Dutch NL IBAN for salary, Belastingdienst, and direct debits
• You are a ZZP freelancer needing a NL IBAN on invoices
• You care about sustainability; bunq says it is planting 30 million trees with its partner veritree
• You want 25 Money Pockets for budgeting (bunq Pro plan)
• You are a long-term Netherlands resident in any capacity

Add Wise if:

• You send money internationally outside the SEPA zone — regardless of which bank you choose above

the editorial recommendation

For expats moving to or living in the Netherlands, bunq is the more practical choice: its NL IBAN avoids any discussion about foreign IBANs from month one, for salary, health insurance, utilities and rent.

Open a Bunq account and get your Dutch NL IBAN

If you are coming from Germany with an existing N26 account and want to keep it alongside bunq, that is a reasonable approach; you do not need to close it. You can check N26’s current plans at n26.com (not an affiliate link).

And wherever you end up on the N26 vs Bunq question, add Wise for international transfers. The combination of a Dutch bank account plus Wise covers Dutch daily banking and international transfers.