Traveling abroad or to countries with a different currency can be a nightmare. Tradicional banks usually charges commissions when you travel outside your country and when you realize you have lost a big amount of money due the commissions for little payments. And we better don’t talk about exchanging cash in another currency.
When I left Spain I open an account in EVO Banco because at that time it was the only free bank of Spain that allowed you to withdraw money from the ATM without the commissions inside the Eurozone. Nowadays this is the card that I have for every day use and for charging my bills. But when I was living abroad they released this new banks accounts that revolutionized the market and after investigating their pros and cons I decided to open an account in N26 and in Revolut for my travels outside the Eurozone.
If this two banks doesn’t have commissions why do I have both of them?
The first reason is because wherever you go you should always have more than one card in case one of them doesn’t work. And I always apply this, not only for traveling. And also it could happen that you already exceeded the limit or maybe the PIN pad of the establishment is having troubles with some banks at that moment. Whatever it is, better be forward looking.
Another reason is because they have different benefits and combining both of them you make the perfect combo. To simplify it, we are going to focus just on the main characteristics that affect us when we are traveling, like withdrawing money abroad or paying in different currencies.
But before talking about their main differences you should know that both of them offer you the possibility to open a personal account or a business account with different conditions. We are going to focus on the personal account. But inside these personal accounts, both of them offer a standard plan (free) and premium plans with more benefits.
Since our goal is to save money, we are going to show you the personal accounts with the standard plan which are completely for free.
Now that you have seen the main differences between them you can understand why the combination of both of them gives you more benefits than having just one. It is very comfortable to add money instantly to Revolut with Apple Pay or Google pay and this is great if you need more money than you didn’t expect. Furthermore the fact that you can withdraw the equivalent of 200€ per month for free in different countries is an advantage compared with N26. Nowadays almost every establishment accept payments with card so 200€ in cash is more than enough for your trip. In the other hand, N26 gives you the security of German bank and you also have unlimited payments for free in different currencies.
We always have these bank accounts with 0€ and we charge them when we travel outside the Eurozone. But we also use Revolut for online shoppings because we don’t like to use our daily card in Internet. We charge it with Apple Pay and we pay. We also know people that use Revolut for changing pounds into euros without any commissions.
They conclusion is that we use more Revolut because we also use it for online shoppings but if we are traveling outside the Eurozone we always have money in N26. As we said before it can happen that the cards doesn’t work and in our job we have seen that sometimes the Pin pad it’s not working with Revolut. So if one of them it doesn’t work you can always pay with the other card without commissions. Furthermore, the N26 doesn’t have limits with the payments.
To finish, taking in consideration that both of them are for free, it is better to have them and take the benefit of them.
We hope this advice will help you to save money in your upcoming holidays abroad.
See you soon!