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Number26/N26 Mastercard/Account now for Irish Residents

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    #2522
    Yggr of Asgard
    Registered Users Posts: 5,153 ✭✭✭Yggr of Asgard


    Changes coming to the n26 premium products.

    N26 Black is becoming N26 You which has several different card designs available and is headlining as "The bank account with travel insurance and your choice of card color."

    Price continues to be 9.90/month and beside the new card designs and up to 10 "spaces" there does not seem to be a difference in the offering otherwise.

    Details: https://n26.com/en-de/you-bank-account-with-travel-insurance


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    #2523
    Dardania
    Registered Users Posts: 3,612 ✭✭✭Dardania


    Yggr of Asgard wrote: »
    Changes coming to the n26 premium products.

    N26 Black is becoming N26 You which has several different card designs available and is headlining as "The bank account with travel insurance and your choice of card color."

    Price continues to be 9.90/month and beside the new card designs and up to 10 "spaces" there does not seem to be a difference in the offering otherwise.

    Details: https://n26.com/en-de/you-bank-account-with-travel-insurance

    Their offering has really stagnated in the past while.


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    #2524
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Dardania wrote: »
    Their offering has really stagnated in the past while.

    Couldn't agree more. The fact that offering customised colour cards while everything else remains the same is presented as a new product is quite worrying about their capacity to innovate!! I doubt many people care, and as a disrupting idea it is a bit of a fail :-D (I remember Bank of Ireland - probably the most backwards large bank in Ireland - offering this type of stuff 10 or 15 years ago)


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    #2525
    user1842
    Registered Users Posts: 1,108 ✭✭✭user1842


    I still dont understand why they dont offer credit cards.


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    #2526
    Dardania
    Registered Users Posts: 3,612 ✭✭✭Dardania


    Bob24 wrote: »
    Couldn't agree more. The fact that offering customised colour cards while everything else remains the same is presented as a new product is quite worrying about their capacity to innovate!! I doubt many people care, and as a disrupting idea it is a bit of a fail :-D (I remember Bank of Ireland - probably the most backwards large bank in Ireland - offering this type of stuff 10 or 15 years ago)

    To be fair, they have had issues wth AML / KYC for a while, as Ygr reported earlier in the thread, and also a US expansion. But core product is what it is ...


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    #2527
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    user1842 wrote: »
    I still dont understand why they dont offer credit cards.

    Probably because proper debt management/collection outside Germany would be a very complex and costly thing for them to do.


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    #2528
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Dardania wrote: »
    To be fair, they have had issues wth AML / KYC for a while, as Ygr reported earlier in the thread, and also a US expansion. But core product is what it is ...

    True, but TBH things were already at standstill before the US expansion and AML issues.


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    #2529
    user1842
    Registered Users Posts: 1,108 ✭✭✭user1842


    Bob24 wrote: »
    Probably because proper debt management/collection outside Germany would be a very complex and costly thing for them to do.

    Probably but there is no excuse for not launching a credit card in Germany especially since they offer an overdraft there.


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    #2530
    jester77
    Registered Users Posts: 11,262 ✭✭✭✭jester77


    user1842 wrote: »
    Probably but there is no excuse for not launching a credit card in Germany especially since they offer an overdraft there.

    Hardly anyone in Germany uses a credit card, and a lot of stores still don't accept them.


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    #2531
    user1842
    Registered Users Posts: 1,108 ✭✭✭user1842


    jester77 wrote: »
    Hardly anyone in Germany uses a credit card, and a lot of stores still don't accept them.

    Sorry this is totally incorrect. Almost all Germans who intend to travel out of the country will have a credit card. Their national debit card scheme (GIRO card) does not operate outside Germany. GIRO cards are co-badged with Maestro to allow for limited usability in foreign countries (ATMs, some POS terminals). These cards will not work online in non-German retailers. German online retailers usually use direct debit as a means of payment and thus a card is not even necessary.

    Thus a credit card is a must for a large segment of German people.


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    #2532
    Yggr of Asgard
    Registered Users Posts: 5,153 ✭✭✭Yggr of Asgard


    user1842 wrote: »
    Probably but there is no excuse for not launching a credit card in Germany especially since they offer an overdraft there.

    Germans don't like credit cards (i.e. cards that allow to pay back the amount spend in monthly installments).

    The typical german consumer has what they refer to as an "EC" card which is either a maestro or a vpay cobranded card linked to the german card payment system which deducts the amount immediatly from the current account and even there several shops don't use the card function but rather convert the transaction into a direct debit transaction.

    Visa/Mastercard branded cards are mostly charge cards (i.e. pay in full once a month) or real credit cards, with visa/mastercard debit cards just being launched.

    And even if there are some consumers that have a credit card, those are mostly people who travel a lot or how are after miles (i.e. the bigest credit card provider is for Lufthansa, but even that card is typically a charge card).

    Mastercard and Visa are now starting to roll out DEBIT cards in Germany to replace the maestro/vpay cobranding but it's slow effort. Mostly the new fintech banks are taking them up, but some of the direct banks too.

    There is a only a small market for N26 to go after with a credit card so it might not make sense for them.

    The fact that they had only a mastercards Debit was a large problem for N26 for a while as loads of shops did not accept it. They had to introduce a maestro card for german customers and even that is still creating problems as it does not participate in the german banking system for "electronic lastschrift" or direct debit.

    Germany is different when it comes to borrowing money, it's harder to get a loan/credit card and such borrowing has immediate effects on ones credit rating.


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    #2533
    Yggr of Asgard
    Registered Users Posts: 5,153 ✭✭✭Yggr of Asgard


    Dardania wrote: »
    Their offering has really stagnated in the past while.

    Yes, there is no to little new things happening with the exception of "spaces".

    But I think a large part of their resources is being used to ensure that they act upon the notice they received by the regulator to improve their basic account validation.

    They wanted to build up a center in Vienna to work on software improvement and inovations, but this has been delayed further with the Austrian regulator having some questions.

    On the other hand, it's hard to invovate beyond what they have already done. And let's remember they started out as a fancy interface on top of another banks payment services. Yes, they became their own bank but what else can they offer now that is inovative, they have covered most things.


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    #2534
    user1842
    Registered Users Posts: 1,108 ✭✭✭user1842


    Yggr of Asgard wrote: »
    Germans don't like credit cards (i.e. cards that allow to pay back the amount spend in monthly installments).

    The typical german consumer has what they refer to as an "EC" card which is either a maestro or a vpay cobranded card linked to the german card payment system which deducts the amount immediatly from the current account and even there several shops don't use the card function but rather convert the transaction into a direct debit transaction.

    Visa/Mastercard branded cards are mostly charge cards (i.e. pay in full once a month) or real credit cards, with visa/mastercard debit cards just being launched.

    And even if there are some consumers that have a credit card, those are mostly people who travel a lot or how are after miles (i.e. the bigest credit card provider is for Lufthansa, but even that card is typically a charge card).

    Mastercard and Visa are now starting to roll out DEBIT cards in Germany to replace the maestro/vpay cobranding but it's slow effort. Mostly the new fintech banks are taking them up, but some of the direct banks too.

    There is a only a small market for N26 to go after with a credit card so it might not make sense for them.

    The fact that they had only a mastercards Debit was a large problem for N26 for a while as loads of shops did not accept it. They had to introduce a maestro card for german customers and even that is still creating problems as it does not participate in the german banking system for "electronic lastschrift" or direct debit.

    Germany is different when it comes to borrowing money, it's harder to get a loan/credit card and such borrowing has immediate effects on ones credit rating.

    Good point as a credit card is Germany is actually seen in Ireland as a charge card. You have to pay the full balance at the end of the month. These cards are popular in Germany so it is not true to say that Germans do not use credit cards. They just dont use them like Anglo Saxons use them. They are technical credits cards and are classified as such as per European regulation.

    Also the EC-Karte no longer exists, its GIRO card now and it may not immediately take the funds from your account. That is it up to the bank that issued the GIRO card.

    A card that is coded as credit card would be a popular choice for German N26 consumers, i think, as it would allow for certain transactions that are coded for credit cards only (some car rentals and hotel pre-auths etc).


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    #2535
    Yggr of Asgard
    Registered Users Posts: 5,153 ✭✭✭Yggr of Asgard


    N26 raised another $170m in funding:

    https://n26.com/en-eu/blog/series-d-funding-announcement?utm_source=twitter&medium=social&utm_content=blog-post&utm_term=funding


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    #2536
    Dardania
    Registered Users Posts: 3,612 ✭✭✭Dardania


    Yggr of Asgard wrote: »
    N26 raised another $170m in funding:

    https://n26.com/en-eu/blog/series-d-funding-announcement?utm_source=twitter&medium=social&utm_content=blog-post&utm_term=funding

    I like the fact they talk about new features - shared spaces would be very useful with the wife


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    #2537
    Wheety
    Registered Users Posts: 5,510 ✭✭✭Wheety


    Dardania wrote: »
    I like the fact they talk about new features - shared spaces would be very useful with the wife

    Revolut now have shared vaults so I would imagine N26 won't be too far behind.


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    #2538
    Sheep Shagger
    Moderators, Business & Finance Moderators Posts: 6,224 Mod ✭✭✭✭Sheep Shagger


    Tried to sign a new contract with 3 instore and their system would not accept the DE IBAN - jole shop.


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    #2539
    RangeR
    Registered Users Posts: 7,265 ✭✭✭RangeR


    Sheep Shagger wrote: »
    Tried to sign a new contract with 3 instore and their system would not accept the DE IBAN - jole shop.

    Isn't that against EU Law? All EU companies must accept all EU IBANs?


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    #2540
    Yggr of Asgard
    Registered Users Posts: 5,153 ✭✭✭Yggr of Asgard


    Sheep Shagger wrote: »
    Tried to sign a new contract with 3 instore and their system would not accept the DE IBAN - jole shop.

    It is.

    Online would be a different story as they can request non Irish instructions in writing but if you are in a store where they make you sign paperwork you clearly were discriminated against.

    Complain to Comreg and CCPC if you want.


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    #2541
    Narcissus
    Registered Users Posts: 772 ✭✭✭Narcissus


    My card didn't work in a post office today :( Is this normal for An Post or does it depend on the branch?


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    #2542
    bennyx_o
    Registered Users Posts: 4,033 ✭✭✭bennyx_o


    I remember reading posts on here about it not working in An Post and don't remember ever reading if it was resolved


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    #2543
    nsa0bupkd3948x
    Closed Accounts Posts: 783 ✭✭✭nsa0bupkd3948x


    bennyx_o wrote: »
    I remember reading posts on here about it not working in An Post and don't remember ever reading if it was resolved

    It should have been resolved. What is the BIN for your card? ( first 6 digits) 5355 90 works at least it did for me online and in a few different ones.


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    #2544
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    AnPost used not to accept Debit Mastercards. But this was addressed quite a while ago and now it should work. I have definitely used my N26 card at different post offices.


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    #2545
    nsa0bupkd3948x
    Closed Accounts Posts: 783 ✭✭✭nsa0bupkd3948x


    Bob24 wrote: »
    AnPost used not to accept Debit Mastercards. But this was addressed quite a while ago and now it should work. I have definitely used my N26 card at different post offices.
    There was an issue since the bin used to be credit so they had to update their systems. Took them a while but they finally did it.


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    #2546
    Yggr of Asgard
    Registered Users Posts: 5,153 ✭✭✭Yggr of Asgard


    Mr.S wrote: »
    Yes in theory, in practise no one is will enforce it so in the short term there's little you can do if an employer or service provider won't accept a non-IE IBAN.

    Calling them up directly usually helps.

    For employers, I agree but for service providers, I don't. I have gotten several to change their policy, yes it is time-consuming and you need be prepared for loads of paperwork but it can be fun too.

    The pain I caused some civil servants in the TFI office by getting the EU to nearly fine them made up for hours on the horrible TFI managed infrastructure.


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    #2547
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Yggr of Asgard wrote: »

    The pain I caused some civil servants in the TFI office by getting the EU to nearly fine them made up for hours on the horrible TFI managed infrastructure.

    To be honest I don’t think it made up for it.

    I also spent countless hours emailing the NTA, the CCPC and various EU bodies across several years (I first emailed the NTA about the issue in 2014). And I am sure it is not just the two of us but probably a few other crazy people who care about the directive being enforced as a matter of principle (I think we are on the same page and it is a matter of principle here: if the point was just about personally being able to use auto top up with a non-Irish account, it was a complete waste of our time).

    What “pain” are we talking about to make up for the time spent by several of us: people at NTA were sitting on their hands doing absolutely nothing about it for years and eventually didn’t even bother following up on further emails. After a few years, yes the pressure eventually got the Irish government to accept things had to change, and likely to give the NTA a bit of money so that they could get a contractor to implement what should have been available for a long time. So yes the fact that a few people spent time to apply pressure through EU related bodies did succeed in sorting the issue, but realistically the effort we put in was completely disproportionate to what we individually got in return, and I don’t think any civil servant got much pain out of this.


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    #2548
    jester77
    Registered Users Posts: 11,262 ✭✭✭✭jester77


    50% off every Lime ride until December if you register your N26 card as payment. Nice :)


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    #2549
    Dardania
    Registered Users Posts: 3,612 ✭✭✭Dardania


    jester77 wrote: »
    50% off every Lime ride until December if you register your N26 card as payment. Nice :)

    nice indeed - I absolutely love them! (although Voi have the best scooters, 50% off is 50% off!)


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    #2550
    jester77
    Registered Users Posts: 11,262 ✭✭✭✭jester77


    Dardania wrote: »
    nice indeed - I absolutely love them! (although Voi have the best scooters, 50% off is 50% off!)

    Must give them a try, Circ and Tier are the ones I've used, but will be giving Lime a try at that price.


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    #2551
    Dardania
    Registered Users Posts: 3,612 ✭✭✭Dardania


    jester77 wrote: »
    Must give them a try, Circ and Tier are the ones I've used, but will be giving Lime a try at that price.

    What's nice about Lime is it uses Apple Pay (so super fast to setup) and you get a nice map at the end. And while they tell you your ride was carbon free...I don't believe that unless they have forced their hunters to switch to a carbon free power source (unlikely).

    With voi, they don't have any traction control switched on, nor do they have speed limiting. Whereas I've noticed with Tier in particular, the traction control is awful (you go over a bump, and it backs off for a good half second, jerking you forward each time) and it has this horrible sensation when you're at 20kMh where it drops off the power to get you down, then lets you accelerate again. Basically you can't go flat out, because you'll be jerking backwards and forwards most annoyingly.

    With N26, do you have to be on a certain package to get half price?


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