Which is the better business bank between N26 Business and Revolut Business?

Our opinion on N26 Business vs Revolut Business in brief

N26 and Revolut offer similar functionalities but are aimed at a different clientele. Revolut is aimed at businesses of all sizes with an international clientele, while N26 is aimed more at self-employed people.

Both neobanks offer significant advantages. However, neither of them offers no overdraft or credit offer . One of the reasons we launched Hero was to fill this gap.

Introducing N26 Business

N26 is a German neobank created in 2013. It is one of the pioneers in digital banking since it is the first in its category to obtain a banking license in Germany.

Founded by Valentin Staff and Maximilian Tayenthal The company has been present in France since the end of 2016. It now has 8 million users across Europe and 2 million in France.

The main features of N26 Business

Here are the basic features of the N26 business account:

• Online management . This is the common feature of neobanks. They have no physical branch. Everything is done online, via a mobile application: from account opening to day-to-day management (transfers, payments, etc.).

• Instant notifications of completed transactions for real-time account monitoring

• A MasterCard for your payments

• SEPA credit transfers free of charge

• Integration with your accounting tools. This is an important feature, as it allows you to simplify accounting entry.

• Budget monitoring and management

• Collection of your customer payments directly on the dedicated platform

• Customer support by e-mail

N26 Business rates and offers

N26 offers one free plan and 3 paying plans.

N26 Standard

N26's free offer is aimed at a very specific audience: auto-entrepreneurs . Here are its features:

• 0.1% cashback

• Optional MasterCard bank card

• Foreign currency withdrawals

• Customer service available by email and chat

N26 Business Smart

Accessible to 4.90 euros per month it includes :

• 0.1% cashback

• Unlimited SEPA direct debits and credit transfers

• 0 commission on your foreign payments. You benefit from Mastercard's real exchange rate, with no surcharge.

• 3 free withdrawals per month

N26 Business You

This offer is aimed at professionals who travel a lot, giving them the benefit of :

• A top-of-the-range MasterCard with no foreign withdrawal fees

• A range of travel insurance : flight delay or cancellation, lost luggage, medical expenses, etc.

The N26 Business You offer is available to 9.90 per month.

N26 Business Metal

À 16.90 euros per month is the latest addition to N26's arsenal of products and services. It includes :

• A metal card

• 0.5% cashback

• 8 free euro withdrawals per month

• A range of insurance cover (medical, telephone, mobility, etc.).

Introducing Revolut Business

Revolut is a British neobank, also a pioneer in the mobile banking market. Since its creation in 2015 She made a name for herself in the consumer market with her with no income requirement.

The Revolut Business pro account is designed for both freelancers and companies of all sizes.

Revolut Business key features

Here are the main features of the British neobank:

• Multi-currency account. Revolut Business is particularly aimed at self-employed professionals and companies with an international clientele. It supports over 30 currencies.

• MasterCard debit card

• Accounting management functionalities. Revolut lets you set spending limits, categorize your spending, track and control your spending in real time, block/unblock cards, and more.

• Integration with your accounting management tools such as QuickBooks or Xero.

• Online management. As with N26, Revolut has an application for managing your account online.

• Collection of payments . Revolut has a feature that allows you to receive customer payments via payment links.

• Customer support accessible via website and mobile app

Revolut Business rates and offers

Like N26, Revolut Business offers a free offer and a range of paying offers.

It does, however, present 2 distinct offer ranges for freelancers and companies . For freelancers, there's the Free for free, Professional for 7 euros/month and Ultimate for 25 euros/month.

Here are the details of Revolut Business offers for businesses:

The Free offer

It's the ideal way to try out the neobank's features without any cost or commitment.

It includes :

• 2 free bank cards

• 5 free SEPA transfers . A commission of 0.2% per transaction is applied above this threshold.

In the end, the Revolut Business Free package offers few options. To manage your business account more effectively, it's best to opt for one of the paying packages.

Development offer

Billed 25 per month, it includes :

• 2 free bank cards

• 100 free SEPA transfers

• 10 free SWIFT transfers

• 10 free payments outside the EU . Payments in the EU are free and unlimited for all Revolut Business offers.

Growth offer

The Revolut Business premium account is accessible to 100 euros per month.

It includes :

• 2 free bank cards

• 2 free metal cards

• 1,000 SEPA transfers

• 50 SWIFT transfers

• 50 payments outside the EU

Feature comparison

Here's a comparison of the two neobanks in terms of their functionalities:

Account management

In both cases, as neobanks, account management is entirely online. Account opening is simplified to just a few clicks.

On the other hand, the functionalities offered by the dedicated application and its ease of use are therefore criteria to be considered.

If customer reviews are anything to go by, both neobanks appear to be satisfactory in this respect. The Revolut application, like the N26 application, is ergonomic and intuitive, their earning high marks on rating platforms.

Revolut, however, seems to be slightly ahead of the pack, offering unique features such as :

• A feature for managing recurring payments

• Scanning payment receipts

• Tap to Pay to collect customer card payments over the phone.

Additional services

N26 is the only one to include une assurance Allianz à its N26 Business You and Metal offers. In particular, it covers damage to self-service vehicles, flight cancellations and delays, and includes medical cover.

However, Revolut's accounting management functions are more advanced, with APIs and integrations, expense categorization and invoicing.

Ease of use and user interface

Both neobanks offer an optimal user experience on their respective applications. This is one of the points users raise to justify their respective positive ratings on rating platforms.

Price comparison

Tariffs are another criterion to consider when choosing a neobank.

N26 Business subscriptions

N26 subscriptions will from 0 euros to 16.90 euros per month. Regardless of the package you choose, SEPA transfers are always free of charge.

Revolut Business subscriptions

Revolut offers 2 types of service, one for freelancers and the other for businesses.

Like N26, it offers a free Free offer. However, because of the very low free thresholds, it is of little interest other than for testing the neobank's functionalities.

Offers dedicated to freelancers will from 0 to 25 euros. On the corporate side, we need to between 0 and 100 euros per month.

Value for money

In terms of value for money, Revolut seems to be the winner, despite a slightly higher fee. In fact, the functionalities offered are more advanced.

Customer support and user reviews

To compensate for the absence of physical branches, digital banks must rely on responsive customer support.

The quality of N26 Business customer support

N26's customer support shines for the multiplicity of ways to contact it:

• By phone

• Live chat via the mobile application

• By email

• Through social networks

The quality of Revolut Business customer support

Reachable only via the dedicated, English-speaking chat application, the quality of Revolut Business customer support is second to none. is not optimal.

In addition to this master the language of Shakespeare.

On the other hand, the neobank is very active on social networks, users can also voice their grievances via these channels. What's more, an extensive resource is available online. Users can try to find solutions to their problems there.

User feedback

N26 scores fairly well on the rating platforms:

• 3.1 sur Trustpilot

• 3.9/5 on Google Play

• 4.8/5 on Apple Store.

Customer reviews show the ease of use of the application, affordable rates and speed of account opening.

For its part, Revolut Business can also boast good ratings on rating platforms:

• 4.3 /5 sur Trustpilot

• 4.5 /5 on Google Play

• 4.8 /5 on App Store.

Revolut users highlight an optimal user experience on the mobile application, low rates for foreign currency transactions and practical functionalities .

Advantages and disadvantages

Here is an overview of the advantages and disadvantages of N26 :

The benefits of N26 Business

Here are the main advantages of the N26 pro account:

• Ease of use and performance of the mobile application. The N26 application is easy to use and intuitive.

• Transparent pricing no hidden costs, and flexible (adapted to different needs).

• Fast account opening . Only one piece of identification is required.

• Customer service is available until 11pm.

• High card withdrawal limits

Disadvantages of N26 Business

Despite its advantages, N26 Business also has some disadvantages.

Here are the main ones:

• No cash deposits possible

• No free unlimited withdrawals, even in the premium offer

• Customer service by phone is only available with the Smart offer. Some customer reviews deplore the lack of responsiveness of live chat customer service.

• No business loan

The benefits of Revolut Business

The main advantages of Revolut Business include :

• High free-of-charge thresholds for SEPA and SWIFT transfers

• Competitive exchange rates for weekday transactions. There is, however, a ceiling of 10,000 euros for the Development tariff and 50,000 euros for the Growth tariff.

• Free, unlimited euro payments.

• Low rates for SEPA and SWIFT transfers. The free thresholds are high under the paid offers.

In short, Revolut Business targets businesses and self-employed workers with an international clientele.

The disadvantages of Revolut Business

Revolut Business also has a number of disadvantages:

• Offers with a one-year commitment year

• A 1% increase in the weekend exchange rate . You'll benefit from advantageous exchange rates as long as you carry out your transactions on weekends.

A second surcharge of 0.3% is applied if you exceed the thresholds of 10,000 euros under the Development offer and 50,000 euros under the Growth offer.

• Withdrawals are charged at 2% of the withdrawal amount. This fee applies to both euro and foreign currency withdrawals.

• Customer support can only be reached via in-app chat . What's more, since it's based in England, it's exclusively English-speaking.

• Customer support responsiveness depends on the subscription chosen . Preference is given to customers opting for the pay-as-you-go offers.

Which solution to choose?

The question here is which solution is best for freelancers, on the one hand, and for VSEs and SMEs, on the other.

For freelancers and self-employed workers

N26 has been specifically designed for auto-entrepreneurs. Its features and prices are tailored to the specific needs of self-employed workers and freelancers.

For VSEs and SMEs

Revolut is ideal for VSEs and SMEs with international customers. The neobank allows you to carry out transactions in more than 30 currencies and with one of the most competitive rates on the market.

However, it is important pay attention to currency transaction thresholds and weekend mark-ups.

Conclusions and recommendations

To choose between N26 and Revolut Business, first ask yourself the right questions:

• Are your transactions limited to the euro zone?

In this case, N26's free account offers sufficient benefits with no additional fees. For travel insurance and sub-accounts, opt for the Smart package.

• Does your business involve inbound and outbound transactions in foreign currencies?

In this case, Revolut will be your best option, thanks to its advantageous rates for foreign currency receipts and payments.

• Do you need remote and in-person checkout functionalities?

Here again, Revolut Business offers a low-cost payment terminal, link payment functionality and TAP to pay, which allows you to accept payments over the phone.

Ultimately, to choose, you need to take into account your specific needs and ask yourself whether the neobank's offer meets those needs.

What's the alternative to N26 Business and Revolut Business?

logo-hero

We have seen that N26 and Revolut Business are two neobanks with interesting offers. However, neither offers a dedicated financing service for small businesses. As we know, cash flow needs are all the greater for VSEs and SMEs.

That's precisely why Hero offers an online factoring service specially dedicated to small businesses. Hero is a neobank offering a free pro account with 3 payment methods: bank transfer, credit card and direct debit .

Hero factoring enables companies to obtain early payment of their supplier invoices and then benefit from payment facilities for repayment with the Factor. Hero customers can benefit from deferred payment and instalments to pay their bills.

The advantage is twofold: not only do you avoid cash-flow problems thanks to payment facilities, but you also preserve your business relationships.

Hero is also :

• A free pro account with physical and digital bank cards and a deferred payment option

• An online payment solution at unbeatable prices

• Flexible, no-obligation financing solutions (BNPL in B2B, accelerated payment on marketplaces (Amazon...), receivables and debt financing)

Conclusion

In a nutshell, N26 Business et Revolut Business are excellent alternatives if you're looking for a neobank. However, none of them has developed a dedicated financing offer for SMEs. This is where Hero comes in as an innovative alternative, offering payment facilities in addition to a completely free account.