Comparison of Business Banking Services: N26, Revolut, and Wise

Business Tariff Plans for N26

N26 Business Basic

Cost: Free

Key Features:

• Basic banking services.
• Free card payments.
• Three free cash withdrawals in the Eurozone per month.
• Ability to use sub-accounts (Spaces) for fund management.

N26 Business Standard

Cost: €9/month

Key Features:

• All Basic features.
• 0.1% cashback on all card purchases.
• Up to 10 sub-accounts (Spaces) for financial management.
• Transaction export for accounting and tax reporting.

N26 Business Pro

Cost: €19/month

Key Features:

• All Standard features.
• Unlimited cash withdrawals in the Eurozone.
• International transfers without fees.
• Priority customer support.

N26 Business Premium

Cost: €29/month

Key Features:

• All Pro features.
• Premium customer support.
• Advanced capabilities for managing large teams.
• Premium services.

Recommendations

• For small businesses: N26 Business Basic provides essential features for free, making it an excellent choice for beginners.
• For small businesses with additional needs: N26 Business Standard offers cashback and extended financial management capabilities.
• For medium businesses: N26 Business Pro provides unlimited cash withdrawals, fee-free international transfers, and priority support.
• For businesses with large teams: N26 Business Premium ensures maximum benefits and premium services, ideal for managing large teams and complex operations.

Freelancer Tariff Plans for N26

N26 Business Standard

Cost: Free

Key Features:

• 0.1% cashback on all card purchases.
• Three free cash withdrawals in the Eurozone per month.
• Transaction export for accounting and tax reporting.
• Use of sub-accounts (Spaces) for financial management.

N26 Business Smart

Cost: €4.90/month

Key Features:

• All Standard features.
• Up to 10 sub-accounts (Spaces) to separate business and personal funds.
• Unlimited cash withdrawals in the Eurozone.
• Phone customer support.

N26 Business You

Cost: €9.90/month

Key Features:

• All Smart features.
• Free cash withdrawals worldwide.
• Comprehensive travel insurance, including flight and baggage delays.
• Liability and medical insurance.

N26 Business Metal

Cost: €16.90/month

Key Features:

• All You features.
• 0.5% cashback on all card purchases.
• Premium metal card.
• Extended insurance (including purchase protection and smartphone insurance).
• Priority customer support.

Recommendations

• For freelancers and small businesses: N26 Business Standard provides all essential features for free, making it an excellent choice for beginners.
• For businesses with extensive financial management needs: N26 Business Smart offers extended financial management features and unlimited cash withdrawals in the Eurozone.
• For international businesses: N26 Business You provides free cash withdrawals worldwide and comprehensive insurance, ideal for frequent travel.
• For premium clients: N26 Business Metal ensures maximum benefits, including high cashback and priority support, making it the best choice for businesses seeking maximum security and convenience.

Business Tariff Plans for Revolut

Free Plan

Cost: Free

Key Features:

• Basic banking services.
• Up to 5 free local payments per month.
• Commission-free currency exchange up to a certain limit.
• Customer support via chat.

Grow Plan

Cost: £/€25 per month

Key Features:

• Up to 100 local payments per month.
• Reduced currency exchange fees.
• Access to advanced features and integrations.
• Priority customer support.

Scale Plan

Cost: £/€100 per month

Key Features:

• Up to 1,000 local payments per month.
• Even better currency exchange conditions.
• Advanced analytical tools.
• Priority customer support.
• Integration with accounting systems.

Enterprise Plan

Cost: Custom pricing

Key Features:

• Unlimited payments.
• Personalized conditions.
• Dedicated support.
• Additional features for large companies, including custom limits and service conditions.

Recommendations

• For startups and small businesses: Free Plan provides essential banking services at no cost, making it ideal for the early stages of a business.
• For growing businesses: Grow Plan offers more payments and reduced fees, as well as advanced features, which are useful for companies starting to expand.
• For medium businesses: Scale Plan provides necessary tools and support for managing large volumes of payments and currency exchange.
• For large companies: Enterprise Plan ensures maximum flexibility and support to meet the individual needs of large organizations.

Freelancer Tariff Plans for Revolut

Free Plan

Cost: Free

Key Features:

• Basic banking services.
• Up to 5 free local payments per month.
• Commission-free currency exchange up to a certain limit.
• Access to basic analytical tools.

Freelancer Professional Plan

Cost: £/€7.99 per month

Key Features:

• Up to 20 local payments per month.
• Better currency exchange conditions.
• Access to advanced analytical tools.
• Priority customer support.
• Invoicing and expense management capabilities.

Recommendations:

• For starting freelancers: Free Plan is a good choice due to its no-cost and basic banking services.
• For active freelancers: Freelancer Professional Plan offers more financial management capabilities and international client support, making it ideal for those needing advanced features and support.

Business Tariff Plans for Wise

Wise Business Basic

Cost: Free

Key Features:

• Multi-currency account for 50 currencies.
• Currency conversion at the interbank rate with a fixed fee from 0.35% to 1%.
• Free local payments.
• Low fees on international payments (from 0.35% to 2%).

Wise Business Standard

Cost: £/€10 per month

Key Features:

• All Basic features.
• Additional tools for integration with accounting systems.
• Advanced reports and analytics.
• Customer support via chat and phone.

Wise Business Premium

Cost: £/€20 per month

Key Features:

• All Standard features.
• Priority customer support.
• Additional features for managing large volumes of transactions.
• Personalized solutions for international operations.

Recommendations

• For small businesses and freelancers: Wise Business Basic provides essential features for free, making it an excellent choice for beginners and small businesses.
• For growing businesses: Wise Business Standard offers additional integrations and financial management tools, useful for companies starting to expand.
• For medium and large businesses: Wise Business Premium provides advanced features and priority support, making it ideal for companies with large transaction volumes and international operations.

Freelancer Tariff Plans for Wise

Wise Freelancer Basic

Cost: Free

Key Features:

• Multi-currency account for 50 currencies.
• Currency conversion at the interbank rate with a fixed fee from 0.35% to 1%.
• Free local payments.
• Low fees on international payments (from 0.35% to 2%).

Wise Freelancer Pro

Cost: £/€5 per month

Key Features:

• All Basic features.
• Advanced reports and analytics.
• Customer support via chat and phone.
• Tools for invoicing and expense management.

Recommendations

• For starting freelancers: Wise Freelancer Basic is a good choice due to its no-cost and basic banking services.
• For active freelancers: Wise Freelancer Pro offers more financial management capabilities and international client support, making it ideal for those needing advanced features and support.

Comparison of Free Services

Cashback

• N26 Business Standard (freelancers): 0.1%
• Revolut Free Plan: No cashback.
• Wise Business Basic: No cashback.

Cash Withdrawals

• N26 Business Standard (freelancers): Three free withdrawals in the Eurozone.
• N26 Business Basic (business): Three free withdrawals in the Eurozone.
• Revolut Free Plan (business and freelancers): No free cash withdrawals.
• Wise Business Basic (business and freelancers): No free cash withdrawals.

Payments

• N26 Business Standard (freelancers): Free card payments.
• N26 Business Basic (business): Free card payments.
• Revolut Free Plan (business and freelancers): Up to 5 free local payments.
• Wise Business Basic (business and freelancers): Free local payments.

Sub-accounts (Spaces)

• N26 Business Standard (freelancers): Yes.
• N26 Business Basic (business): Yes.
• Revolut Free Plan (business and freelancers): No.
• Wise Business Basic (business and freelancers): No.

Recommendations

For freelancers:

• N26 Business Metal is an excellent choice due to cashback, free worldwide cash withdrawals, and additional features.
• Revolut Free Plan offers more financial management capabilities and international client support, making it ideal for those needing advanced features and support.
• Wise Freelancer Pro is a good choice due to low international transfer fees and currency conversion at the interbank rate.

For businesses:

• N26 Business Premium offers a good balance between cost and functionality.
• Revolut Enterprise Plan is suitable for companies with specific requirements and custom conditions, offering up to 1% cashback on corporate cards.
• Wise Business Premium is a beneficial choice for companies with large volumes of international transactions, thanks to low fees, priority support, and advanced financial management features.

Comparison of Premium Services

N26 Business Metal (freelancers)

Cost: €16.90/month

Cashback: 0.5%

Cash Withdrawals: Free worldwide

Sub-accounts (Spaces): Yes

Additional Features: Extended insurance

N26 Business Premium (business)

Cost: €29/month

Cashback: None

Cash Withdrawals: Free worldwide

Sub-accounts (Spaces): Yes

Additional Features: Advanced team management features

Revolut Enterprise Plan (business)

Cost: Custom pricing

Cashback: Up to 1% on corporate cards

Cash Withdrawals: None

Sub-accounts (Spaces): No

Additional Features: Custom conditions

Wise Business Premium (business)

Cost: £/€20 per month

Cashback: None

Cash Withdrawals: None

Sub-accounts (Spaces): No

Additional Features: Priority customer support, additional features for managing large transaction volumes, personalized solutions for international operations

Recommendations

For freelancers:

N26 Business Metal is an excellent choice due to cashback, free worldwide cash withdrawals, and additional features.

For businesses:

• N26 Business Premium offers a good balance between cost and functionality.
• Revolut Enterprise Plan is suitable for companies with specific requirements and custom conditions, offering up to 1% cashback on corporate cards.
• Wise Business Premium is a beneficial choice for companies with large volumes of international transactions, thanks to low fees, priority support, and advanced financial management features.

Simplicity and Speed of Opening an Account

Online Registration

All three banks (N26, Revolut, Wise) offer online registration through mobile and web applications.

Registration Time

The registration time for all banks is a matter of minutes. Account setup and registration.

Form Completion

All banks require the completion of a form with information about the business and the owner.

Required Data and Documents

All banks require identification and business registration documents.

Identification Procedure

• N26 and Wise: Use photo identification or video identification.
• Revolut: Uses automated photo identification.

Identification Time

• Identification takes a few minutes for N26 and Wise.
• For Revolut, the process can take up to one business day.

Account Confirmation and Activation

• N26 and Wise: Instant confirmation and activation of the account after identification.
• Revolut: Activates accounts within one business day.

Confirmation Notification

All banks send a confirmation notification.

Receiving the Card

All banks offer a physical card by mail and a virtual card immediately.

Platform Availability

All banks support iOS, Android, and web platforms.

Recommendations

If account activation speed is a priority, N26 and Wise may be the best options due to their instant confirmation and activation. Revolut is suitable for users who prefer automated processes, despite the potential delay of up to one business day for identification and account activation.

Key Features and Business Capabilities

Account and Financial Management

• N26: Intuitive mobile and web applications, support for up to 10 sub-accounts (Spaces).
• Revolut: Multi-currency accounts, detailed expense analytics.
• Wise: Multi-currency accounts, convenient tools for international transfers and currency management.

Cashback and Bonuses

• N26: 0.1% on all purchases (Standard and Smart), 0.5% (Metal). Loyalty programs.
• Revolut: Up to 0.1% on corporate cards, discounts and bonuses from partners.
• Wise: No cashback.

International Operations

• N26: Competitive transfer rates, multi-currency support, free payments in the Eurozone.
• Revolut: Multi-currency accounts, low fees on international transfers, integration with SWIFT and SEPA.
• Wise: Low fees on international transfers, currency exchange at the interbank rate.

Security and Protection

• N26: Two-factor authentication, deposit protection up to €100,000.
• Revolut: Two-factor authentication, modern security protocols, deposit protection.
• Wise: Two-factor authentication, high encryption standards for user data protection.

Customer Support

• N26: Multilingual support via chat and phone (for premium plans), online support center.
• Revolut: 24/7 support via chat, dedicated managers for corporate accounts (premium plans).
• Wise: 24/7 support via chat and phone.

Integrations and Automation

• N26: Integration with accounting systems, automated payments.
• Revolut: Automatic integration with accounting programs, API for custom system integration.
• Wise: Support for accounting systems, API integration for automation and customization of financial processes.

Analytics and Reporting

• N26: Built-in expense analysis tools, report creation, data export.
• Revolut: Advanced analytics and reporting tools, transaction categorization, budgeting.
• Wise: Detailed income and expense analytics, automatic financial report generation, data export.

Premium Features

• N26: Metal card, extended insurance, priority support.
• Revolut: Custom limits and service conditions, dedicated support, advanced analytical tools.
• Wise: Priority support, additional features for managing large transaction volumes, personalized solutions for international operations.

Recommendations

• For freelancers: N26 may be the best choice due to cashback and convenient account management.
• For small businesses: Revolut offers flexibility and advanced analytics and reporting features.
• For large companies: Wise with low international transfer fees and interbank exchange rates is an excellent choice.

Integration Capabilities with Other Services

Integration with Accounting Systems

• N26: Supports Xero, QuickBooks, DATEV; data export in CSV and PDF.
• Revolut: Integrates with Xero, QuickBooks, FreeAgent; data export in CSV, PDF, Excel.
• Wise: Integrates with Xero, QuickBooks; data export in CSV, PDF.

Integration with Financial Applications

• N26: Supports Apple Pay, Google Pay, Samsung Pay; integration with Stripe and PayPal.
• Revolut: Supports Apple Pay, Google Pay; integration with Stripe, PayPal.
• Wise: Supports Apple Pay, Google Pay; integration with various payment systems and wallets.

Integration with Business Management Platforms

• N26: Integration with CRM systems (Salesforce); supports project management platforms (Trello, Asana).
• Revolut: Integration with CRM systems (Salesforce, HubSpot); supports project management platforms (Trello, Slack, Asana).
• Wise: Integration with CRM systems; supports project management platforms.

Integration with Analytical Tools

• N26: Built-in analytical tools; integration with external analytics platforms (Google Analytics, Tableau).
• Revolut: Built-in analytical tools; integration with external analytics systems (Power BI, Google Analytics).
• Wise: Built-in analytical tools; integration with analytics and reporting platforms (Looker, Google Data Studio).

Process Automation

• N26: API access; integration with IFTTT and Zapier.
• Revolut: API access; integration with Zapier, Integromat.
• Wise: API access; integration with IFTTT and Zapier.

Recommendations

• For businesses needing extensive data export options and integration with various analytics and project management systems: Revolut is an excellent choice due to its support for multiple platforms and data export formats, as well as API availability for custom integrations.
• For businesses prioritizing integration with various financial applications and process automation: N26 may be the best choice due to its support for a wide range of payment systems like Apple Pay and Google Pay, as well as integrations with popular CRM and accounting systems.
• For companies seeking flexible solutions in accounting and process automation: Wise offers integration with major accounting systems like Xero and QuickBooks, and provides powerful tools for automating financial operations with API and support for automation platforms like IFTTT and Zapier.

Quality of Customer Service for Businesses

Support Channels

• N26: Chat, phone (for premium users), online support center.
• Revolut: Chat, phone (for premium users), dedicated manager (for corporate clients).
• Wise: Chat, phone, online support center.

Support Availability

• N26: Support is available 24/7 for premium users; for standard users, during business hours.
• Revolut: Support is available 24/7 for all users.
• Wise: Support is available 24/7 for all users.

Response Time

• N26: Quick response via chat, especially for premium users.
• Revolut: Quick response via chat and phone, especially for premium and corporate users.
• Wise: Quick response via chat and phone.

Online Support Center

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

Personal Manager

• N26: Personal manager available for N26 Business Metal premium users.
• Revolut: Personal manager available for corporate clients.
• Wise: Personal manager available for premium users.

Training Materials

• N26: Access to webinars, articles, and guides on using N26 features and services.
• Revolut: Access to webinars, articles, and guides on using Revolut features and services.
• Wise: Access to webinars, articles, and guides on using Wise features and services.

Recommendations

• For businesses needing 24/7 support: Revolut and Wise are the best options due to their round-the-clock support availability for all users.
• For businesses needing a personal manager: Revolut offers a personal manager for corporate clients, while N26 and Wise provide this service for premium users.
• For businesses requiring quick response and multilingual support: All three banks provide quality service, but Revolut stands out with a dedicated manager for corporate clients and 24/7 support for all users.

Currency Handling Capabilities for Businesses

Multi-Currency Accounts

• N26: Ability to open accounts in 19 different currencies for convenient international transactions and currency reserve management.
• Revolut: Ability to open accounts in 30 different currencies.
• Wise: Ability to open accounts in 50 different currencies.

Currency Exchange

• N26: Convenient currency exchange through the mobile app with a 0.5% transaction fee.
• Revolut: Currency exchange through the mobile app with fees ranging from 0% to 1.5%, depending on the account type (Standard, Premium, Metal).
• Wise: Currency exchange at the interbank rate with a fixed fee from 0.35% to 1%.

International Payments

• N26: Conducting international payments with minimal fees (0.3% of the transfer amount) and favorable exchange rates, supporting SEPA and SWIFT transfers.
• Revolut: International payments with a fixed fee ranging from £0.30 to 1% of the transfer amount, depending on the account type and destination country, supporting SEPA and SWIFT transfers.
• Wise: Conducting international payments with low fees (from 0.35% to 2%) and currency exchange at the interbank rate, supporting SWIFT transfers.

Support for Different Currencies

• N26: Ability to operate in 19 different currencies, such as EUR, USD, GBP, CHF, JPY, and others.
• Revolut: Ability to operate in 30 different currencies, such as EUR, USD, GBP, AUD, CAD, and others.
• Wise: Ability to operate in 50 different currencies, including EUR, USD, GBP, AUD, CAD, and others.

Business Card

• N26: Business card supporting transactions in 19 different currencies.
• Revolut: Business card supporting transactions in 30 different currencies, including EUR, USD, GBP, AUD, CAD.
• Wise: Business card supporting transactions in 50 different currencies, including EUR, USD, GBP, AUD, CAD.

Recommendations

• For businesses needing maximum multi-currency support: Wise is the best choice with support for 50 currencies.
• For flexible currency exchange conditions: Revolut offers the most diverse exchange conditions with fees ranging from 0% to 1.5%.
• For minimal fees on international payments: N26 offers the lowest fees (0.3%).

Advantages and Disadvantages

Advantages of N26

• Convenient and intuitive mobile and web applications.
• Multi-currency accounts (up to 19 currencies).
• Minimal fees on international transfers (0.3%).
• High level of security and data protection.
• 24/7 support for premium users.
• Availability of a personal manager for premium users.

Disadvantages of N26

• Limited support (only during business hours) for standard users.
• No cashback program.
• Limited number of supported currencies (19 currencies) compared to competitors.

Advantages of Revolut

• Ability to open multi-currency accounts (up to 30 currencies).
• Favorable currency exchange conditions with fees from 0% to 1.5%.
• Flexible and transparent fees on international transfers (0.3-1%).
• Support for 30 different currencies for transactions and cards.
• 24/7 support for all users.
• Dedicated manager available for corporate clients.
• Cashback up to 0.1% on corporate cards.
• Integration with cryptocurrencies and stock trading.

Disadvantages of Revolut

• Currency exchange fees can reach up to 1.5% depending on the account type.
• Personal manager available only for corporate clients.
• Cashback program is limited to corporate cards.

Advantages of Wise

• Ability to open multi-currency accounts (up to 50 currencies).
• Currency exchange at the interbank rate with a fixed fee from 0.35% to 1%.
• Support for international payments with low fees (from 0.35% to 2%).
• Wide support for various currencies (50 currencies) for transactions and cards.
• 24/7 support for all users.
• Personal manager available for premium users.
• Transparent conditions and no hidden fees.

Disadvantages of Wise

• International payment fees can reach up to 2%, higher than some competitors.
• No cashback program.
• Fixed currency exchange fee, which may be less advantageous for large volumes.

Conclusion

• For small businesses and freelancers: N26 may be the most suitable option due to its ease of use and low fees.
• For growing and international companies: Revolut offers the most flexible conditions and a wide range of services, making it an excellent choice for companies expanding internationally.
• For companies seeking maximum multi-currency support and transparent conditions: Wise is the optimal solution, providing a large number of currencies for transactions and low fees on international transfers.

Article Author: Patrick Möller