Comparison of Business Banking Services: Fyrst vs N26

Business Tariff Plans at Fyrst

Fyrst Base

Cost: Free

Key Features:

• Basic banking services.
• Free SEPA payments.
• Free card payments.
• Free cash withdrawals up to 50 times a month.
• Chat, email, and phone support.

Fyrst Complete

Cost: €10/month

Key Features:

• All features of Fyrst Base.
• Additional accounting tools.
• Personal financial consultations.
• Expanded expense and income statistics.

Business Tariff Plans at N26

N26 Business Standard

Cost: Free

Key Features:

• Basic banking services.
• Multi-currency accounts (up to 18 currencies).
• Free SEPA payments.
• Free card payments.
• Free cash withdrawals up to 5 times a month.
• Support via chat and phone.

N26 Business Smart

Cost: €4.90/month

Key Features:

• All features of N26 Business Standard.
• Up to 10 sub-accounts.
• 0.1% cashback on all purchases.
• Enhanced customer support.

N26 Business You

Cost: €9.90/month

Key Features:

• All features of N26 Business Smart.
• Unlimited international SEPA transfers.
• Free cash withdrawals at any ATMs worldwide.
• Premium customer support.

N26 Business Metal

Cost: €16.90/month

Key Features:

• All features of N26 Business You.
• Metal card.
• Extended insurance coverage.
• Personal manager.

Recommendations for Business Tariff Plans

For Small Businesses

Fyrst Base and N26 Business Standard offer basic banking services for free. Fyrst Base has an advantage with a higher number of free cash withdrawals (up to 50 times a month).

For Businesses with Additional Needs

Fyrst Complete at €10/month includes additional accounting tools and personal consultations, which is beneficial for small businesses with extended needs. N26 Business Smart at €4.90/month offers multi-currency accounts and cashback, making it an excellent choice for businesses working with different currencies.

For Businesses Frequently Making International Transfers

N26 Business You at €9.90/month provides unlimited international SEPA transfers and free cash withdrawals at any ATMs worldwide, ideal for companies with frequent international transactions.

For Businesses Requiring Premium Services

N26 Business Metal at €16.90/month offers a metal card, extended insurance coverage, and a personal manager, suitable for companies that value premium services and additional privileges.

Freelancer Tariff Plans at Fyrst

Fyrst Base Freelancer

Cost: Free

Key Features:

• Basic banking services.
• Free SEPA payments.
• Free card payments.
• Free cash withdrawals up to 50 times a month.
• Chat, email, and phone support.

Fyrst Complete Freelancer

Cost: €10/month

Key Features:

• All features of Fyrst Base Freelancer.
• Additional accounting tools.
• Personal financial consultations.
• Expanded expense and income statistics.

Freelancer Tariff Plans at N26

N26 Business Standard Freelancer

Cost: Free

Key Features:

• Basic banking services.
• Multi-currency accounts (up to 18 currencies).
• Free SEPA payments.
• Free card payments.
• Free cash withdrawals up to 5 times a month.
• Support via chat and phone.

N26 Business Smart Freelancer

Cost: €4.90/month

Key Features:

• All features of N26 Business Standard Freelancer.
• Up to 10 sub-accounts.
• 0.1% cashback on all purchases.
• Enhanced customer support.

N26 Business You Freelancer

Cost: €9.90/month

Key Features:

• All features of N26 Business Smart Freelancer.
• Unlimited international SEPA transfers.
• Free cash withdrawals at any ATMs worldwide.
• Premium customer support.

N26 Business Metal Freelancer

Cost: €16.90/month

Key Features:

• All features of N26 Business You Freelancer.
• Metal card.
• Extended insurance coverage.
• Personal manager.

Recommendations for Freelancer Tariff Plans

For Freelancers Needing Simple and Affordable Banking Services

Fyrst Base Freelancer and N26 Business Standard Freelancer offer basic banking services for free. Fyrst Base Freelancer has the advantage of a higher number of free cash withdrawals (up to 50 times a month).

For Freelancers with Additional Needs

Fyrst Complete Freelancer at €10/month includes additional accounting tools and personal consultations, which are useful for freelancers with extended needs. N26 Business Smart Freelancer at €4.90/month offers multi-currency accounts and cashback, making it an excellent choice for freelancers working with different currencies.

For Freelancers Frequently Making International Transfers

N26 Business You Freelancer at €9.90/month provides unlimited international SEPA transfers and free cash withdrawals at any ATMs worldwide, ideal for freelancers with frequent international operations.

For Freelancers Needing Premium Services

N26 Business Metal Freelancer at €16.90/month offers a metal card, extended insurance coverage, and a personal manager, suitable for freelancers who value premium services and additional privileges.

Comparison of Free Services

Cashback

• Fyrst Base Freelancer: No cashback.
• N26 Business Standard Freelancer: No cashback.
• Fyrst Base Business: No cashback.
• N26 Business Standard: No cashback.

Cash Withdrawals

• Fyrst Base Freelancer: Free withdrawals up to 50 times a month.
• N26 Business Standard Freelancer: Free withdrawals up to 5 times a month.
• Fyrst Base Business: Free withdrawals up to 50 times a month.
• N26 Business Standard: Free withdrawals up to 5 times a month.

Payments

• Fyrst Base Freelancer: Free card payments.
• N26 Business Standard Freelancer: Free card payments.
• Fyrst Base Business: Free card payments.
• N26 Business Standard: Free card payments.

Sub-Accounts (Spaces)

• Fyrst Base Freelancer: No.
• N26 Business Standard Freelancer: No.
• Fyrst Base Business: No.
• N26 Business Standard: No.

Recommendations

For Freelancers:

• Fyrst Base Freelancer offers free withdrawals up to 50 times a month and free card payments, making it an excellent choice for freelancers who need frequent cash withdrawals.
• N26 Business Standard Freelancer also offers free card payments, but the number of free cash withdrawals is limited to 5 times a month.

For Businesses:

• Fyrst Base Business provides similar conditions to freelancers, including free withdrawals up to 50 times a month and free card payments.
• N26 Business Standard offers free card payments and free withdrawals up to 5 times a month, which may not be sufficient for businesses with frequent transactions.

Comparison of Premium Services

Fyrst Complete (Business)

• Cost: €10/month
• Cashback: No
• Cash Withdrawals: Free up to 50 times a month
• Sub-Accounts (Spaces): No
• Additional Features: Additional accounting tools, personal financial consultations, extended expense and income statistics

N26 Business Smart (Business)

• Cost: €4.90/month
• Cashback: 0.1% on all purchases
• Cash Withdrawals: Free up to 5 times a month
• Sub-Accounts (Spaces): Yes, up to 10 sub-accounts
• Additional Features: Extended customer support

N26 Business You (Business)

• Cost: €9.90/month
• Cashback: 0.1% on all purchases
• Cash Withdrawals: Free withdrawals at any ATMs worldwide
• Sub-Accounts (Spaces): Yes, up to 10 sub-accounts
• Additional Features: Unlimited SEPA international transfers, premium customer support

N26 Business Metal (Business)

• Cost: €16.90/month
• Cashback: 0.1% on all purchases
• Cash Withdrawals: Free withdrawals at any ATMs worldwide
• Sub-Accounts (Spaces): Yes, up to 10 sub-accounts
• Additional Features: Metal card, extended insurance coverage, personal manager

Recommendations

For Freelancers:

• Fyrst Complete Freelancer at €10/month is an excellent choice due to free cash withdrawals up to 50 times a month, additional accounting tools, and personal financial consultations.
• N26 Business Smart Freelancer at €4.90/month offers multi-currency accounts and cashback, making it a great choice for freelancers working with different currencies.

For Businesses:

• N26 Business You at €9.90/month provides unlimited SEPA international transfers, free withdrawals at any ATMs worldwide, and premium customer support, making it ideal for companies with frequent international operations.
• N26 Business Metal at €16.90/month offers a metal card, extended insurance coverage, and a personal manager, suitable for companies that value premium services and additional privileges.

Ease and Speed of Opening an Account

Online Registration

• Fyrst: Offers online registration through mobile and web applications.
• N26: Offers online registration through mobile and web applications.

Registration Time

• Fyrst: Registration takes a few minutes.
• N26: Registration takes a few minutes.

Form Filling

• Fyrst: Requires filling out a form with business and owner information.
• N26: Requires filling out a form with business and owner information.

Required Data and Documents

• Fyrst: Requires identification and business registration documents.
• N26: Requires identification and business registration documents.

Identification Procedure

• Fyrst: Uses photo identification or video identification.
• N26: Uses photo identification or video identification.

Identification Time

• Fyrst: Identification takes a few minutes.
• N26: Identification takes a few minutes.

Account Confirmation and Activation

• Fyrst: Instant confirmation and activation of the account after identification.
• N26: Instant confirmation and activation of the account after identification.

Confirmation Notification

• Fyrst: Sends a confirmation notification.
• N26: Sends a confirmation notification.

Receiving the Card

• Fyrst: Offers a physical card by mail and a virtual card immediately.
• N26: Offers a physical card by mail and a virtual card immediately.

Platform Availability

• Fyrst: Supports iOS, Android, and web platforms.
• N26: Supports iOS, Android, and web platforms.

Main Features and Business Capabilities

Account and Finance Management

• Fyrst: Intuitive mobile and web application, support for up to 50 sub-accounts, account management.
• N26: Convenient mobile app, support for up to 10 sub-accounts (Spaces), multi-currency accounts.

Cashback and Bonuses

• Fyrst: No cashback.
• N26: Up to 0.1% cashback on all purchases.

International Operations

• Fyrst: Support for multiple currencies, free SEPA payments, SWIFT transfer fees.
• N26: Support for up to 18 currencies, free SEPA payments, SWIFT transfer fees, free cash withdrawals up to a certain limit.

Security and Protection

• Fyrst: Two-factor authentication, deposit protection up to 100,000 euros.
• N26: Two-factor authentication, modern security protocols, deposit protection up to 100,000 euros.

Customer Support

• Fyrst: Support via chat, email, and phone, online support center.
• N26: Support via chat and phone, online support center, premium support for premium users.

Integrations and Automation

• Fyrst: Integration with accounting systems (e.g., Lexoffice, Datev), automatic payments.
• N26: Integration with accounting systems, automation of financial processes.

Analytics and Reports

• Fyrst: Built-in tools for expense analysis, report creation, data export.
• N26: Built-in analytical tools, report creation, data export.

Premium Features

• Fyrst: Personal finance consultations, advanced accounting tools.
• N26: Metal card (Metal), extended insurance, priority customer support, access to investment products.

Recommendations

• For businesses needing account and finance management: Fyrst offers support for up to 50 sub-accounts and an intuitive mobile and web application, making it a great choice for companies with numerous accounts.
• For businesses valuing cashback and international operations: N26 provides up to 0.1% cashback on all purchases and support for up to 18 currencies, making it ideal for companies with frequent international transactions and a need for multi-currency accounts.
• For businesses needing integrations and automation: Both banks offer integrations with accounting systems and financial process automation, but Fyrst stands out with additional personal finance consultation options.
• For businesses requiring premium services: N26 offers a metal card, extended insurance, and access to investment products, making it suitable for companies that value premium features and additional privileges.

Integration Capabilities with Other Services

Integration with Accounting Systems

• Fyrst: Integration with Lexoffice, Datev, Debitoor; data export in CSV and PDF.
• N26: Integration with Datev; data export in CSV and PDF.

Integration with Financial Applications

• Fyrst: Support for Apple Pay, Google Pay; integration with SEPA and SWIFT.
• N26: Support for Apple Pay, Google Pay; integration with SEPA and SWIFT.

Integration with Business Management Platforms

• Fyrst: Integration with CRM systems not specified; support for project management platforms not specified.
• N26: Integration with CRM systems (Salesforce); support for project management platforms (Trello, Asana).

Integration with Analytical Tools

• Fyrst: Built-in analytical tools; integration with external analytical platforms not specified.
• N26: Built-in analytical tools; integration with external analytical platforms (Google Analytics).

Process Automation

• Fyrst: API access; integration with IFTTT and Zapier.
• N26: API access; integration with IFTTT and Zapier.

Recommendations

• For businesses needing integration with accounting systems: Fyrst offers integration with Lexoffice, Datev, and Debitoor, making it an excellent choice for businesses using these systems.
• For businesses requiring integration with financial applications: Both banks support Apple Pay and Google Pay, as well as integration with SEPA and SWIFT, making them good choices for businesses with these needs.
• For businesses needing integration with business management platforms and analytical tools: N26 provides integration with CRM systems like Salesforce and supports project management platforms like Trello and Asana, making it an excellent choice for companies needing these integrations.
• For businesses needing process automation: Both banks offer API access and integration with IFTTT and Zapier, allowing for the automation of various business processes and integration with other systems.

Quality of Customer Service for Businesses

Support Channels

• Fyrst: Chat, email, phone, online support center.
• N26: Chat, phone, online support center.

Availability of Support

• Fyrst: Support is available during business hours.
• N26: Support is available 24/7 for premium users; during business hours for standard users.

Response Time

• Fyrst: Quick response through chat and email.
• N26: Quick response through chat and phone, especially for premium clients.

Online Support Center

• Fyrst: Extensive knowledge base, FAQs, guides, and instructions available on the Fyrst website.
• N26: Extensive knowledge base, FAQs, guides, and instructions available on the N26 website.

Personal Manager

• Fyrst: Not available.
• N26: Personal manager available for premium users.

Educational Materials

• Fyrst: Access to webinars, articles, and guides on using Fyrst's features and services.
• N26: Access to webinars, articles, and guides on using N26's features and services.

Recommendations

• For businesses needing round-the-clock support: N26 is an excellent choice due to its 24/7 support availability for premium users.
• For businesses requiring a personal manager: N26 offers a personal manager for premium clients, making it suitable for companies needing an individualized approach.
• For businesses needing quick response times and extensive educational materials: Both banks provide quality service and access to educational materials, but N26 stands out with 24/7 support for premium users and quick response times through chat and phone.

Currency Management Capabilities for Businesses

Multi-Currency Accounts

• Fyrst: Ability to open accounts in multiple currencies for convenient international transactions and managing currency reserves.
• N26: Ability to open accounts in up to 18 different currencies, providing flexibility for international operations.

Currency Exchange

• Fyrst: Convenient currency exchange via mobile app with a 0.5% transaction fee.
• N26: Convenient currency exchange via mobile app with a 0.5% transaction fee for premium users.

International Payments

• Fyrst: Conduct international payments with competitive rates and support for SEPA and SWIFT transfers.
• N26: International payments with minimal fees, support for SEPA and SWIFT transfers.

Support for Various Currencies

• Fyrst: Ability to conduct transactions in multiple currencies such as EUR, USD, GBP, CHF.
• N26: Ability to conduct transactions in up to 18 different currencies, including EUR, USD, GBP, CHF, and others.

Business Card

• Fyrst: Business card supporting transactions in multiple currencies.
• N26: Business card supporting transactions in up to 18 different currencies.

Recommendations

• For businesses needing maximum multi-currency support: N26 is the best choice due to its support for up to 18 currencies, providing flexibility for international transactions.
• For flexible currency exchange conditions: Both Fyrst and N26 offer convenient currency exchange conditions via mobile apps with a 0.5% fee, making both options advantageous for businesses.
• For minimal fees on international payments: N26 offers competitive rates and minimal fees on international payments, making it an excellent choice for businesses regularly conducting international transfers.

Advantages and Disadvantages

Advantages of Fyrst

• Convenient and intuitive mobile and web application.
• Free cash withdrawals up to 50 times per month.
• Integration with accounting systems (e.g., Lexoffice, Datev).
• High level of security and data protection.
• Support via chat, email, and phone.
• Additional accounting tools and personal financial consultations (for premium plans).

Disadvantages of Fyrst

• No cashback.
• Limited support for multi-currency accounts.
• No personal manager.

Advantages of N26

• Convenient mobile app with numerous features.
• Multi-currency accounts (up to 18 currencies).
• Cashback up to 0.1% on all purchases.
• Free cash withdrawals at any ATMs worldwide (for premium plans).
• Support via chat and phone, 24/7 support for premium users.
• Metal card (Metal) and extended insurance for premium users.
• Access to investment products.

Disadvantages of N26

• Currency exchange fee (0.5% per transaction) for premium users.
• Higher rates for premium plans.
• Free cash withdrawals limited to 5 times per month on the basic plan.

Article Author: Patrick Möller