How to use your N26 virtual cards to organize your finances

Practicality, security and greater control are just some of the advantages of using several virtual cards at the same time. But you have to plan, of course

January 26, 2023

Redação N26

N26 virtual cards

Nowadays it is very easy to have at least one virtual card. But a lot of people create virtual cards without really thinking about how to use them. If you just spend with whatever card is at hand, at the end of the month, it doesn't help much.

If used intelligently, virtual credit cards can be one of the most practical fincare tools, organizing your day-to-day expenses. That's why we always tell you to create not just one N26 Virtual Card, but several.

Want to see how it works? Check it out.

What is a virtual card for?

Virtual cards are digital versions of an N26 Card issued in the name of the same person. They are available in the app and can be registered for purchases on other apps and websites like regular credit cards - each one has 16 identification numbers, expiration date and three-digit security code.

So, in practice, a virtual card is for you to have an extra payment method when choosing how to spend your money. And it is precisely this choice that can make the difference in your spending control.

How to create virtual cards

Creating virtual cards for different expenses

Everyone has fixed expenses like rent, school, electricity. And also variables, but recurrent ones, such as groceries, food delivery, transport apps, occasional purchases of things for you or for the house. You can create a virtual N26 Card for each of these things.

By entering the app, in the cards menu, and scrolling down, you will see the option to "Create a virtual card". There you can choose as you wish: "Streaming", "Food", "App by car", "Online shopping", etc. With each one's info, you can go to the apps or websites you usually shop with and register the respective virtual cards.

Then you already have two advantages. The first is security. With a payment method for each thing and place, you create a layer of protection, preventing any flaws in the security of websites or apps from harming your entire account. If you need to cancel one of them, just create another one and register there, without having the headache of changing everything.

The second advantage is spending control. That's when things start to get interesting.

How to group the spendings from a virtual card

Control your spending with virtual cards

From the moment each expense has a card, it becomes easier to understand where your money is going - and how much you spend on each thing.

All expenses with virtual cards are unified in your N26 Card invoice. But just by entering the app's cards menu and going to "View invoice details" you can start playing.

The "Spendings of the month" can be viewed in two ways: gathering "All" in the same list, or separating "By groups". In this second option, you see the total amount spent in the month with each card. And that makes the difference.

Let's say you've noticed over the months that you've tripled your spending on transportation apps, or that you've stayed the same with food orders. This shows that, within your budget, you need an almost fixed amount to spend on food, while values for races are out of control.

With more information about your expenses, it is easier to make decisions in your next financial planning. You need to take money from elsewhere to cover variable expenses and you will have to prioritize these expenses eventually. But no surprises.

How about using a virtual card for special dates?

We always talk about Spaces as a financial planning tool: you create as many as you want to separate the money you want to spend on whatever you want and get organized. But we have just seen that it is also possible to organize purchases with a virtual N26 Card - and this works well for special dates.

Try creating a card just for the next Black Friday, for example. Or one for a holiday trip with friends. Every time you use these cards, the expenses are added to them. When looking at the invoice, just group it by card to find out how much you spent on each item.

Easier to divide, easier to do math, easier to plan and manage your money.

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