When I first moved to Spain, I opened an account with a traditional brick-and-mortar bank. As you know, the fees aren’t excessive, but they add up, and the app experience was, to put it mildly, frustrating. Seeing more and more friends using fintech banks like N26 and Revolut, I was impressed by the convenience. So last month, I finally decided to try them out and applied for both. Here’s my review of the sign-up process and my initial impressions. I’d love to hear your thoughts too.
Sign-up Process Comparison
The sign-up process for both is incredibly simple and can be completed entirely on their mobile apps—so much better than queuing at a physical bank. Personally, I found the N26 process slightly smoother; I submitted all my information in under 10 minutes. It mainly involves filling out personal details, uploading your residence card, and completing a video verification call. The customer service agent was very friendly, and I just had to follow a few simple instructions. Revolut is similar, though I found its UI a bit more complex. Their verification involves taking a selfie and photos of your ID, with no live video call, but it’s also very quick. Both provide a German/Lithuanian IBAN, which works perfectly fine in Spain.
Pros and Cons of Each
After using them for about a month, here’s a summary of the pros and cons based on my experience with their free, basic plans:
| Feature | N26 | Revolut |
|---|
| IBAN Country | Germany | Lithuania |
| Main Advantages | A fully licensed bank with deposit protection. Supports Bizum. | Excellent exchange rates; supports multiple foreign currencies. |
| Main Disadvantages | Limited number of free ATM withdrawals per month. | Not a fully licensed bank; Bizum is not supported. |
| App Experience | Interface is very clean and straightforward. | Packed with features, can feel a bit cluttered, but is very powerful. |
| Special Features | ‘Spaces’ for easy saving and budgeting. | Stock/crypto trading, disposable virtual cards. |
So, Which One to Choose?
If you’re looking for a fintech bank mainly as a secondary account for daily spending, occasional transfers, or paying utility bills, I think N26 feels more like a proper ‘bank account’. Its support for Bizum is a huge plus in Spain—it makes splitting bills with friends or paying the rent incredibly convenient. However, if you’ll be using your fintech card frequently for currency exchange, international transfers, or travel, Revolut’s advantages are clear. The exchange rates can save you a significant amount of money. My current setup is using N26 as my primary card for my salary and daily expenses, while Revolut is my go-to for travel, currency exchange, and online shopping from abroad. The two complement each other perfectly.
This is just my initial experience, and these fintech banks update their features frequently. Which one are you all using? Have you run into any pitfalls or discovered any unique money-saving hacks? Feel free to share in the comments to help others make a decision!
