Number26/N26 Mastercard/Account now for Irish Residents

lostinNaas

https://www.boards.ie/discussion/comment/117768447#Comment_117768447

Yep, same merchant.

Just got a follow up from N26. They say they are working on it. The full name of the merchant is PRIME SPORTS - JUST BET, currency in Jamaican dollars.. you'd think the name alone would set off 50 alarms in Berlin.

unkel

https://www.boards.ie/discussion/comment/117714418#Comment_117714418

CCPC came back today, referring me to the Central Bank of Ireland

Why do we have regulators if all they all do is pass the buck? 🙄

Jim2007

https://www.boards.ie/discussion/comment/117779398#Comment_117779398

If they do not have the supervisory authority, what would you prefer them do? Toss it in the bin when it is outside their competence.

user1842

https://www.boards.ie/discussion/comment/117779398#Comment_117779398

Is Vodafone the company that does not accept the EU IBAN?

If so it is the CCPC's issue to investigate, not the CBI. They should not have referred you to the CBI:

https://ec.europa.eu/info/sites/default/files/business_economy_euro/banking_and_finance/documents/sepa-compliance-competent-authorities_en.pdf

I suggest that you now make a complaint to the EU Commission:

https://ec.europa.eu/info/law/single-euro-payments-area-regulation-eu-260-2012/monitoring-and-enforcement_en

https://ec.europa.eu/assets/sg/report-a-breach/complaints_en/

The J Stands for Jay

https://www.boards.ie/discussion/comment/117780150#Comment_117780150

Read the quoted post.

Yggr of Asgard

https://www.boards.ie/discussion/comment/117780150#Comment_117780150

The CCPC and CBI are doing this dance since years, the point to each other and neither is doing what they are supposed to do.

The competence is clear, CBI if it's the Payment Services Providers (like Banks) issue and CCPC if it's a customer complaining about a company or public body.

A bank not allowing you to use another IBAN = CBI

A company refusing to accept a direct debit from a SEPA compliant account outside Ireland = CCPC

But neither of them takes responsibility, the only way to get this resolved is for you to complain to the EU about the CCPC not doing their job.

Or if you are a EU Citizen from another country you could complain via a special process, as your EU rights are violated via

SOLVIT – EU rights problem solving when working, living or doing business in another EU country - European Commission (europa.eu)

I used Solvit a few time in the early days of IBAN when the CCPC/CBI ping pong became clear.

But it in the end it's the government's fault, they decided not to follow other countries which gave their regulators clear powers including massive fines and made it easy for citizens to go complain and even take the infringing company to court.

Yggr of Asgard

N26 is in further trouble at the moment with the BAFIN expected to take further action in relation to the failures of N26 to comply with the Anti Money Laundering regulations and lack assistance N26 provides to Law Enforcement Authorities with significant volume of criminal complaints linked to N26 and N26 not having followed the law when they opened the accounts of these fraudsters.

Your money is safe, there is no question about that, however there might be an action coming that limits N26 to take new customers (for example only to those who do a physical identity validation in a post office) and redo the identification process on all new customer who signed up over the past year or so.

It is becoming clear that N26 cannot cope with the amount of growth and is not able to implement the measures that the BAFIN instructed them to implement. They had a short period to comply since the special commissioner was appointed and that is up next week.

I strongly suggest keeping an eye out on the BAFIN's page about measurements here.

user1842

https://www.boards.ie/discussion/comment/117784000#Comment_117784000

Honestly, this is great to see. A regulator doing its job, especially learning lessons from the past (cough, cough, Wirecard). N26 will be a better bank because of it.

Suckit

Anyone know why a transfer that is normally instant or 24 hours, is now taking 2-5 days?

I transferred money from N26 to Fidor bank in Germany. In the past it can take up to an hour, unless done at the weekend it can take 24 hours. I transferred €500 on Tuesday 17th of August and it went in within the hour.

I transferred €550 on Saturday the 21st of August and it is still not in, when I click on info it says "it may take 2-5 business days for your transfer to reach the recipient".

I clicked 'repeat transfer' to perform it as I always do, so nothing different between the transfers.

Dempo1

Quick 2 questions if I may.

I've decided to go for N26 with KBC winding down.

Q1 is there a minimum amount to open the account, I'd prefer a physical debit card so presumably need to cover that cost.

Q2. Do N26 facilitate the switching current account process, I've a small few DD set up and need to insure they continue, I undersand I've to make my own arrangements re lodgement, salary etc.

Hoping to start process later today. But will keep KBC account open for another while.

Thanks in advance.

Yggr of Asgard

https://www.boards.ie/discussion/comment/117795804#Comment_117795804

Q1

Unless you used some sort of promotion code saying otherwise, at least 11€ should do to allow you to pay the 10€ for the physical card if you opened a standard account.

Q2

No, there is no switching assistance beside some form letters on their web page, you might be better off to simply log on to your providers and start changing the IBAN online. However please be prepared for some providers giving you a challenging time to enter a German IBAN.

Dempo1

https://www.boards.ie/discussion/comment/117796180#Comment_117796180

Thanks so much, appreciate the heads up 😁

Dempo1

That relatively painless setting up and quite quick, albeit standing with a passport visible and taking a selfi quite amusing. All set up now, never used a virtual card before so have linked to Google pay and experiment when what I've lodged clears. Might not bother with physical card.

Just a final question if I may

I noticed there's a limit of €500 top up with my existing debit card per month, obviously I'm planning on transferring the balance of my current KBC account gradually, I presume there's no such a low limit of €500 pm if I do an ETF payment 🤔, it would take till Christmas to transfer balance if I could only lodge €500pm 🤔 😁

unkel

You mustn't have any crypto that you haven't done the passport selfie before ;-)

Standard procedure in KYC for years...

Yggr of Asgard

https://www.boards.ie/discussion/comment/117796507#Comment_117796507

For incoming instant SEPA transfers the maximum allowed in is 100000 €.

But as KBC does not offer instant SEPA you are fine there.

The 450€ is in case you want to use your KBC debit card.

How to add money to your account | N26 Support EU

Dempo1

https://www.boards.ie/discussion/comment/117796608#Comment_117796608

LOL, I won't need to worry about transferring €100k 😁 but thanks for the clarification.

Have to say very impressed with the speed of set up, fund already showing from debit card lodgement.

Fingers crossed this will turn out to be my solution re KBC winding down.

Thanks again for the Guidance, much appreciated 😊

Wheety

https://www.boards.ie/discussion/comment/117796694#Comment_117796694

Any questions, just ask in here. A knowledgeable bunch.

You don't need a physical card but if it's going to be your only bank you'll need it for cash withdrawals, unless you have something like Curve.

Wheety

For those who have had their account skimmed, did you have limits set up on your card? I leave mine at €50 for atm withdrawals and €50 for spending. I just up it if I need to. Just have to remember.

My KBC debit card is left blocked as I don't use it.

Dempo1

https://www.boards.ie/discussion/comment/117796869#Comment_117796869

Fantastic and appreciated, I rarely withdraw at ATM but you got me thinking, I didn't think about cash back with virtual cards, is that an option🤔 if not for the sake of €10 I'll just get a physical card.

Thanks again 😊

Wheety

I was thinking cashback when I was typing that out. I don't know if it's an option on Google Pay. I've never been asked.

Some newer ATMs have NFC but I haven't seen one in Ireland. I'd say it'll be a few years before we see them.

Dempo1

https://www.boards.ie/discussion/comment/117796889#Comment_117796889

Great minds think alike 😉 I'll use my local shop as a Guinea pig later and update 😁

jrmb

I transferred some money from N26 today and was given the option of an instant transfer or a standard one. The instant transfer is free for premium members, but they didn't say what fees/limits apply on the free account. Up to now, transfers to Revolut and Wise have usually been very fast anyway.

lostinNaas

https://www.boards.ie/discussion/comment/117796876#Comment_117796876

No, but wish I had!

Wheety

https://www.boards.ie/discussion/comment/117798024#Comment_117798024

It's a good idea. I have limits on all my cards that I can do it on, well Revolut and N26. I always leave the KBC debit card disabled as we were skimmed before. Hotels in Kenya 🙄

TheChizler

https://www.boards.ie/discussion/comment/117796876#Comment_117796876

You've just given me the idea to check if I could disable magnetic stripe payments like Revolut and turn off foreign payments, must have been how they used my details recently. Cheers!

Wheety

https://www.boards.ie/discussion/comment/117799540#Comment_117799540

Yeah, I forgot about that option but I always have it turned off too.

FaganJr

https://www.boards.ie/discussion/comment/117709305#Comment_117709305

Dont Worry!

I had this with 2 institutions, one being a National Big bank.

All accept N26 now, this forced one institution to completely update their internal computer systems to accept non local IBAN's, took 12 months and they had to compensate me for all out of pocket expenses associated with their delay to change over.

It was with the Financial & Pensions Ombudsman I made my complaint and was assigned a contact who dealt with case, next step was going to be High Court and this is where they caved in.

Goodluck

Dempo1

Just curious, I'm setting up a new Payee to start transferring via sepa from KBC to my new N26.

I've got the IBAN number for my N26, I normally put the account number in the receiptient message, can I determine what my actual n26 account.

EDIT, Figured it out 😉

Wheety

You only need the IBAN. The recipient message would normally be used to state what the payment is for, car repairs or share of meal etc.

I know some credit cards ask for the card number to be put in this field but not needed when just transferring from KBC to N26

Dempo1

https://www.boards.ie/discussion/comment/117802083#Comment_117802083

Just am old habit 😉