Number26/N26 Mastercard/Account now for Irish Residents

Sheep Shagger · 14-04-2023 2:23pm

https://www.boards.ie/discussion/comment/120454110#Comment_120454110

Normally a day or two but does depend on the merchants bank.

Padkir · 08-05-2023 6:20pm

Hi.

I need to make a large card payment in USD in the next couple of days - will be approx $12k. I would like to do this on my N26 card to avoid significant fees and charges for foreign currency payments.

From what I can see, the daily limit for N26 can be up to €20k (which is also monthly limit - see extract from N26 website below). I've amended my daily limit to €15k in the N26 app, so hopefully this will be ok. I just wanted to check people's experience making payments over €10k using N26 debit card.

What is the maximum I can spend?

Card payments in stores and online

Daily limit: €20,000 (applies alongside the monthly limit)
Monthly limit: €20,000

https://support.n26.com/en-eu/payments-transfers-and-withdrawals/balance-and-limits/what-is-the-maximum-i-can-spend?rc=orliz5052

The thing that's putting me off is that most of the banks in Ireland have way lower transaction limits, and I'm just nervous that I've missed something and won't actually be able to process the payment when I go to do it.

Appreciate any thoughts or experiences. Thanks!

Nickindublin · 08-05-2023 6:40pm

If the money is alreay in your N26 account i dont see a problem. If you drop 12k in and then try to move it on you may encounter an issue.

Padkir · 08-05-2023 7:01pm

Why do you say that? Do you think it might flag potential AML checks?

I intend to transfer the money in via two separate transactions tomorrow/Wednesday, then probably make the payment out on Friday.

wassie · 08-05-2023 9:32pm

Might want to have a read of N26s blog on money laundering

https://n26.com/en-eu/blog/money-laundering-how-banks-stay-one-step-ahead-of-criminal-activity#aml-holding-period

Anything over €10,000 is probably going to be subject to additional scrutiny.

Also read the article in regard to holding periods - another potential issue based on your proposed transactions.

But it could also all go smoothly.

Just have a plan just incase the transaction gets held up (often by days) due to security checks eg. what is the consequence of a delayed payment?

You wont be able to speak to anyone on the phone either with the N26 free account, so all corrospondance will be by email or chat, which can be a source of frustration if things go wrong. Good luck with it all.

Nickindublin · 09-05-2023 11:11am

https://www.boards.ie/discussion/comment/120571742#Comment_120571742

I was saying that if you moved the money into N26 from a different account and to then transfer. It might get flagged. But if its already in your account should be fine.

Tony H · 17-07-2023 3:53pm

Anyone having logging into n26 on the app , I'm getting" oops too many log in attempts try again in 30 minutes " even though I have only tried once

Hibernicis · 17-07-2023 4:00pm

https://www.boards.ie/discussion/comment/120863300#Comment_120863300

App working fine for me, just tried it and got straight in (using Face ID)

Tony H · 17-07-2023 4:16pm

Thanks for that ,went off WiFi and used data and logged in with no problem

jkforde · 23-07-2023 7:58pm

(I've gone back a few pages but.. )

anyone heard when N26 are due to launch their Instant Savings product here?

TheDriver · 29-10-2023 3:17pm

I can't find the answer so apologies if it's been answered before. Do you have to make a return to revenue each year for an n26 account?

Q&A · 29-10-2023 7:44pm

https://www.boards.ie/discussion/comment/121298204#Comment_121298204

What return had you in mind? If it's declaring something like DIRT then you need to actually be earning interest first. Last time I checked they didn't pay any to Irish depositors.

Qrt · 29-10-2023 7:47pm

I’ve been on a waiting list for N26 since March…I don’t think they’ll be accepting me any time soon.

blade1 · 29-10-2023 7:58pm

https://www.boards.ie/discussion/comment/121298204#Comment_121298204

No, it's not a savings account

TheDriver · 29-10-2023 9:28pm

Thanks. Is there a waiting list? I signed up in 2018 and forgot about it until they said my card was expiring and they'll send a new one for free. Might use the account so

Yggr of Asgard · 29-10-2023 9:33pm

https://www.boards.ie/discussion/comment/121299655#Comment_121299655

Well, they call it waiting list for marketing purposes, in reality it's because the German Financial Regulator has put limits on how many new customers they are allowed to onboard every month (50,000) due to significant issues with their compliance to prevent money laundering.

Those restrictions are in place since 2021 and have just been renewed in July 2023 including the appointment of a special monitor at the bank because the regulator was not satisfied with the progress made since than.

TheDriver · 29-10-2023 9:48pm

Thanks all. It makes sense re no interest and revenue returns.

Qrt · 30-10-2023 9:56pm

Probably asked a million times in here, but can you just get a free trial of the smart package, get your free physical card, then cancel it? I just don’t want to get stung.

Edit: got my answer

Nickindublin · 31-10-2023 11:16am

I use N26 as my bank account. Far prefer it to Revolut. That is my preference. I have the metal account and it covers my phone insurance and travel insurance. But i move any extra cash to trade reublic for 4% savings.

garyfleming7 · 31-10-2023 11:54am

Did you get a free card using that method @Qrt

Darker Rabbit · 20-11-2023 7:39pm

I'm moving my accounts over to N26. At the weekend I changed my Gas and Electricity accounts with Bord Gais to the new German IBAN I have with N26. This went fine but when I went to change my billing account with Eir for my broadband N26 was not among the multiple banks they had listed. This morning I phoned their customer server who where able to manually us the N26 German IBAN but said that because its a non IRISH bank that they'll have to send a direct debit mandate to me to manually sign. Not the worst thing, I'm just gland it is possible.

irishgeo · 20-11-2023 9:05pm

https://www.boards.ie/discussion/comment/121393143#Comment_121393143

Some regulation requires requires a written direct debit mandate for all non Irish IBANs.

batistuta9 · 20-11-2023 10:46pm

Is there a way to cancel direct debits?

user1842 · 22-11-2023 8:55pm

https://www.boards.ie/discussion/comment/121393453#Comment_121393453

No regulation requires this. It's legacy nonsense by eir.

TheChizler · 22-11-2023 9:41pm

https://www.boards.ie/discussion/comment/121402171#Comment_121402171

I think it's a misinterpretation, some companies only support Irish banks in their online forms, but regulations require them to process a paper mandate for all SEPA banks.

user1842 · 23-11-2023 2:11pm

https://www.boards.ie/discussion/comment/121402355#Comment_121402355

Not really. No regulation states the mandate should be paper. The EPC (European Payments Council) sets the rules for mandates (paper or electronic). This rules apply across all SEPA countries.

https://www.europeanpaymentscouncil.eu/node/10551#:~:text=It%20is%20the%20document%20a,a%20paper%20or%20electronic%20format

What is happening here, is that the old legacy Irish electronic mandate rules are being used. These rules say only IE IBANS only. These rules are basically a breach of Regulation 260/2012 and these breaches should be reported to the Central Bank of Ireland. AIB even note on their website that cross-border collections need a paper mandate. This is nonsense.

It is funny how the old rules the Irish Banks are applying can no longer be found on the internet, I wonder why......

Miss_Elsie · 13-03-2024 7:15pm

N26 starting to offer instant access savings accounts. I am boards.ie newbie so can't post the link, but further information can be found in article ("N26 offers Irish savers instant access savings rate of up to 4%") posted today in the Business section of the RTE website.