Review of European Sustainable Banks: Tomorrow
Features, Services, Fees and Opening
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Tomorrow is a social business started in 2018. Its vision is to use money as a lever for positive change and therefore only invests in a sustainable way. Through their fees, customers positively contribute to protecting climate. Following a digital first approach, its business model is based on the success of modern digital and mobile banks. Making banking easy through a quick and immediate account opening process as well as user friendly interfaces, it offers its services within the entire European Union. With Solarisbank it relies on an established banking partner where customer funds are protected under the German deposit guarantee.
1. Overview: Which bank accounts can customers choose from?
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- NOW is the basic digital account. The mobile account is easy to use and part of the green revolution philosophy contributing to climate change with every euro spent. The account comes with a complementary Visa card.
- CHANGE is an upgraded account version. Users can choose between different card designs, enjoy 5 free cash withdrawals per month and 5 sub-accounts to organize money easily that can optionally shared with other users.
- ZERO is the premium account. As the title states, for the monthly fee all your CO2 emissions are entirely offset. It also comes with an exclusive wooden card instead of the ordinary plastic one. Other highlights are unlimited complementary cash withdrawals – both in Germany and abroad – as well as an infinite amount of sub-accounts (pockets).
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Additionally, Tomorrow bank offers a special version of account. It’s called Kiezkonto and dedicated to supporters of Hamburgs football club FC St. Pauli. They will receive a “Kiez Card” (Visa in the club’s design) and become part of a digital fan community. Besides, any perks or fees will be applied in accordance to the type of account chose (Now, Change or Zero).
| NOW | CHANGE | ZERO | |
|---|---|---|---|
| Visa Debit card (with contactless) | |||
| Card design | Plastic (standard design) | Plastic (3 designs at choice) | Wood |
| Free ATM withdrawals worldwide1 | – | 5 | |
| Free ATM withdrawals in Germany1 | – | 5 | |
| Mobile banking and payments | |||
| Sub-accounts (pockets) | 1 | 5 | |
| Shared sub-accounts (pockets) with other users | – | ||
| Multi-language support2 | |||
| Account security3 | |||
| Climate protection policy4 | |||
| Carbon footprint analysis5 | |||
| Offsetting CO2 footprint6 | – | – | |
| Monthly fee | €3 | €7 | €15 |
1 “Now account” users are charged €2 per withdrawal. Change and Zero accounts allow a limited number of free domestic and worldwide withdrawals.. Anything over that limit is subject to a fee (€2 per withdrawal).
2 Customer support available via phone, email or live-chat in English or German.
3 Use of 3D secure and two-factor authentication; funds of up to €100,000 are secured under the national German banking scheme in case of bankruptcy.
4 Tomorrow contributes to environment protection projects for every payment with their Visa card.
5 A technology service that allows you to track the carbon emission involved in each purchase made. For instance, when you pay for a train ticket or even a cup of coffee, the amount of carbon emissions for delivering that service are calculated.
6 Offsetting means using money to avoid climate-damaging. Through the financing, measures are taken to offset the carbon footprint of an event – for example, a flight – on the climate.
Last update: 3 January 2022
Compare more banks and read further reviews in our overview of best bank accounts in Germany.
2. Features: What does the Tomorrow Bank current account offer?
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- Visa Debit Card with contactless option (fully suitable for i.e. store payments and online shopping; some hotel or rental car companies may ask for a credit card)
- Mobile payments and withdrawals (Apple Pay / Google Pay.
- Free card payments worldwide
- Free cash withdrawals in Germany depending on the card you choose
- Free cash withdrawals at ATMs in and outside the Eurozone depending on the card you choose
- Free real-time transactions to other Tomorrow accounts
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3. Requirements: Who can open a bank account with Tomorrow Bank?
Age and Profession
Tomorrow Bank accounts are not available to minors, you need to be at least 18 years old. There are no pre-conditions in terms of profession: Anybody from pupils, students, employees to freelancers can open accounts but only for private purposes.
Residence, nationality and language skills
A Tomorrow bank account can be opened with a residence in these countries: Germany, Belgium, Estonia, Finland, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Austria, Portugal, Slovakia, Slovenia, Spain and Cyprus. You may open an account with almost any nationality with a supported form of ID for this country. Identification is performed completely online.
Creditworthiness
In general, neither Tomorrow Bank nor its partner Solarisbank collect information on your financial situation. The probability of being accepted as their customer is very high. Hence, it might be a good option if you have just arrived to Germany and do not have extensive credit history.
Technical requirements
You need a compatible smartphone to open and maintain your account:
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- Apple: iPhone 5s or above, with updated iOS 11 or higher
- Android: Operating system of 6.0 or higher
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4. Customer services: Which languages are supported and how is the online/ mobile banking?
Chat, hotline and language support
Tomorrow bank offers the same type of support – via phone, mail or live -chat – regardless of the type of account chosen. It is available in 2 languages: English and German.
Online banking and mobile app
Though there is also a web interface, the app is a great and well-designed tool to manage the account. It has scored high in user-friendliness and offers the following features:
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- Review of balances and limits
- Managing sub-accounts (pockets)
- Performing bank transfers
- Easy transfer between Tomorrow accounts
- Mobile payment (ApplePay / Google Pay)
- Push notifications in real-time to control card usage
- Blocking and unblocking card
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Further savings (credits and savings)
Tomorrow doesn’t have any credit offer or special savings account, unless you would like to use one of the pockets for your savings. However, there is no interest generated there. A sustainable investment account is currently in the making.
6. Account opening: What steps to follow to get an N26 account?
Opening an account is very easy and completely online like all other acoount opening processes: Fill out the online form with your data and then identify via video identification. One of the great points on opening an account with them is that even if you’re not fully settled in Germany you can still use your previous address as long as it’s part of their list of countries allowed.
For any questions, just use the comment function!
