What are instant transfers? | N26 Customer Service, N26 finally allows you to send money instantly to another bank

N26 finally allows you to send money instantly to another bank

Online banks and more particularly neobanques are increasingly looking to make you stay in their application environment. The strategy is simple: become “Superapp”, platforms in which it is possible to manage everything – in this case here, your money – without having to go through several applications.

Instant transfers, what is it ?

All N26 customers can now make instant transfers. Unlike ordinary separate transfers which are treated within two working days, instant transfers are sent and received in a few seconds. The instant transfer allows you to send or receive money in an almost immediate way, in about 10 seconds.

How to make an instant transfer ?

  1. From the home screen, choose the Send money tab
  2. Select a recipient from your contact list
  3. Enter the amount and select Continue
  4. Enter a reference text (optional) and select Continue
  5. Choose to send it in the form of an instant bank transfer or standard bank transfer
  6. Enter your confirmation PIN code
  7. Confirm the transfer on the summary screen.

The transfer will be processed and received within around 10 seconds: if the recipient’s bank is not part of the SCT instant transfer system, you will not have the possibility of sending an instant transfer.

How much is an instant transfer ?

A commission is invoiced to standard N26 customers who send an instant transfer. This commission is taken immediately after each instant transfer and differs according to the country where you have opened your account:

  • France, Italy and the rest of Europe – € 0.99
  • Germany and Austria – € 0.49
  • Spain- € 1.99

Good to know :

  • Performing an instantaneous transfer does not mean that an unforeseen delay cannot be delayed in your treatment, which is why we invite you to plan your important transfers (rent, sureties …) enough in advance, before avoiding everything inconvenience.
  • You can perform up to 5 instant transfers per day in the amount of € 2,000 each each, or a maximum amount of € 10,000 per 24 -hour tranche.
  • If you use an instant transfer for significant payment (deposit, fine, deposit), remember to make the payment in advance. You will thus avoid any delay linked to its possible rejection or prohibition.
  • If you pay a good instant transfer or service, always be careful to check the bank details and the name of the beneficiary before confirming the transaction. We also invite you to always be wary of potential fraud before making such a transaction.

N26 finally allows you to send money instantly to another bank

N26 announced today the possibility of making instant transfers between neobank customers. A service accessible very easily from the application.

Online banks and more particularly neobanques are increasingly looking to make you stay in their application environment. The strategy is simple: become “Superapp”, platforms in which it is possible to manage everything – in this case here, your money – without having to go through several applications.

With this in mind, N26 is launching a new function today allowing instant transfers to sending other eligible banks to accounts to accounts. An option that still lacked the call.

Transfers to save … time

Often dependent on a treatment time up to 24 hours, conventional transfers are increasingly giving way to so -called “instant” transfers usually sending or receiving money in seconds. For an N26 account, this function was previously only available in reception, but still impossible to send.

N26 had still palliated this lack with Moneybeam, an exclusive functionality to the neobank allowing to send and receive money instantly, but only between account N26. To do this, just add a N26 contact via the phone number or email address, enter the desired amount, add a message if necessary and the amount is credited on the target account in seconds.

N26 - The mobile bank

N26 – The mobile bank

The instantaneous transfer therefore completes Moneybeam and mainly opens the transfer of money to other banks by entering the IBAN of the target account. Be careful however: free service concerns Only N26 Premium customers. A standard N26 customer will have to pay 0.99 euros if he wishes to use the service even to a premium account.

VI N26 2

VI N26 1

Note however that the classic transfer still exists and that it is possible to cut it so that the account is credited under 1 to 2 working days.

Change for all N26 offers

With its more than 7 million customers worldwide, including nearly 2 million in France, the neobank is always more aims and aims at least 5 million French customers by 2024. To achieve this, she relies on the extension of her free and paid banking offers, but also and above all on house features as with Moneybeam.

In the recent projects of the German giant, there is the possibility of associating iban with savings accounts named “spaces” to for example create incoming transfers or automatic samples. Soon, always with this purpose of “Superapp” N26 intends to set up a feature of sharing additions with friends or family, but also the possibility for French customers to have access to payment in several times, an option always reserved for customers Having opened an account in Germany.

In case you want to know more about N26 and other online banks, do not hesitate to consult our dedicated banks comparator.

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