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Number26/N26 Mastercard/Account now for Irish Residents

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    #2732
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    user1842 wrote: »
    Yup both banks need to offer the service for it to work (both sender and receiver).

    Once this is fully rolled out in the euro area it will be a great new service (although 20 years late :))

    And if banks don’t all charge for it! (although I suspect competition from tech companies offering free/cheap transfers will probably limit the scope for charging)


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    #2733
    user1842
    Registered Users Posts: 1,108 ✭✭✭user1842


    Bob24 wrote: »
    And if banks don’t all charge for it! (although I suspect competition from tech companies offering free/cheap transfers will probably limit the scope for charging)

    Instant payment are designed to be high volume, low cost consumer payments. It is the main reason why the infrastructures processing them charge such low fees. The ECB TIPS system only charges 0.02c (not 2c but 0.2 of a cent) to process each instant payment.

    No real excuse for banks to charge for them.


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    #2734
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    user1842 wrote: »
    Instant payment are designed to be high volume, low cost consumer payments. It is the main reason why the infrastructures processing them charge such low fees. The ECB TIPS system only charges 0.02c (not 2c but 0.2 of a cent) to process each instant payment.

    No real excuse for banks to charge for them.

    Yet out of the 2 banks discussed in this thread jester77‘s is charging for them and mine is charging if the amount is over 300 euros.

    I agree it should be free, but I don’t think banks care about having excuses. And if they need excuses they could say their business model is being destroyed by low/negative interest rates (*), and they need to find other ways to make money.

    I think it is the existence of convincing alternative options more than the underlying cost which determine whether banks are charging for it.

    (*) which btw is true, the longer this goes on (and I think it will go on) the more likely we we are to see many bankrupt banks, funds, and insurance companies.


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    #2735
    Sheep Shagger
    Moderators, Business & Finance Moderators Posts: 6,256 Mod ✭✭✭✭Sheep Shagger


    The CBI have published this about 'IBAN discrimination' lol

    https://centralbank.ie/consumer-hub/explainers/what-is-iban-discrimination-and-what-can-i-do-about-it


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    #2736
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Sheep Shagger wrote: »
    The CBI have published this about 'IBAN discrimination' lol

    https://centralbank.ie/consumer-hub/explainers/what-is-iban-discrimination-and-what-can-i-do-about-it

    Yes we all know on this thread that the CCPC is pretty much useless, but I guess in a way it is not a bad thing to have this document on the CBI's website. If any organisation insists they don't have to accept a non Irish IBAN that is an authoritative source we can refer them to.


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    #2737
    user1842
    Registered Users Posts: 1,108 ✭✭✭user1842


    Bob24 wrote: »
    Yes we all know on this thread that the CCPC is pretty much useless, but I guess in a way it is not a bad thing to have this document on the CBI's website. If any organisation insists they don't have to accept a non Irish IBAN that is an authoritative source we can refer them to.

    Also keep an eye on www.erpb.eu

    This group has a recommendation to monitor IBAN discrimination in Europe and the EU Commission updates the status of the recommendation every 6 months. Next update is the end of November.

    Keep an eye out for the document; follow up on past recommendations, ERPB/2014/rec3:

    The below was for the June 2019 meeting of the ERPB:

    https://www.ecb.europa.eu/paym/groups/erpb/shared/pdf/11th-ERPB-meeting/Follow_-_up_on_past_recommendations.pdf?98b0ccc55ab92a6ff6ba86b431bb4d8b


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    #2738
    Suckit
    Registered Users Posts: 11,215 ✭✭✭✭Suckit


    How long does a new card take to arrive does anybody know? It says ~2 weeks on the site, or pay €19 for 2 day delivery.
    Surely it's not the guts of two weeks?


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    #2739
    Credit Checker Moose
    Closed Accounts Posts: 1,226 ✭✭✭Credit Checker Moose


    A week is usual enough.


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    #2740
    ED E
    Registered Users Posts: 36,167 ✭✭✭✭ED E


    Suckit wrote: »
    How long does a new card take to arrive does anybody know? It says ~2 weeks on the site, or pay €19 for 2 day delivery.
    Surely it's not the guts of two weeks?

    Two or three days when they first launched.


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    #2741
    Suckit
    Registered Users Posts: 11,215 ✭✭✭✭Suckit


    ED E wrote: »
    Two or three days when they first launched.
    I ordered it last night, so will find out. Hopefully sooner than later.


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    #2742
    jester77
    Registered Users Posts: 11,262 ✭✭✭✭jester77


    hmm, this is weird, instant payments are coming only for receiving, but not sending: https://n26.com/en-eu/blog/sepa-instant-credit-transfer-incoming-launch-announcement

    More info here: https://n26.com/en-eu/instant-payments
    N26 wrote:

    Can I send an outgoing SEPA Instant Credit Transfer?

    No. Currently, your N26 bank account only lets you receive incoming instant payments with SEPA Instant Credit Transfer. However, you can use MoneyBeam to send outgoing payments to other N26 customers listed in your app. More information about when outgoing SEPA Instant Credit Transfer payments will be available to follow.


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    #2743
    Dardania
    Registered Users Posts: 3,612 ✭✭✭Dardania


    jester77 wrote: »
    hmm, this is weird, instant payments are coming only for receiving, but not sending: https://n26.com/en-eu/blog/sepa-instant-credit-transfer-incoming-launch-announcement

    More info here: https://n26.com/en-eu/instant-payments

    And weirdly with transferwise they send using instant sepa but don't receive it


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    #2744
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    jester77 wrote: »
    hmm, this is weird, instant payments are coming only for receiving, but not sending: https://n26.com/en-eu/blog/sepa-instant-credit-transfer-incoming-launch-announcement

    Half-baked implementation indeed ... not sure what went through their mind here (the technical side of things can’t be that hard, especially since they have the receiving part in place; wondering if there is a cost/marketing reason behind it).


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    #2745
    user1842
    Registered Users Posts: 1,108 ✭✭✭user1842


    Link on longer works. Maybe they heard you :)


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    #2746
    zell12
    Registered Users Posts: 23,760 ✭✭✭✭zell12


    I'm trying to sign up to N26 app but it says 'device not compatible'.
    N26 say Android 6.0 or above
    My device is Android 8.1 Oreo

    Help!


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    #2747
    user1842
    Registered Users Posts: 1,108 ✭✭✭user1842


    zell12 wrote: »
    I'm trying to sign up to N26 app but it says 'device not compatible'.
    N26 say Android 6.0 or above
    My device is Android 8.1 Oreo

    Help!

    Is your phone rooted?


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    #2748
    zell12
    Registered Users Posts: 23,760 ✭✭✭✭zell12


    user1842 wrote: »
    Is your phone rooted?
    It was locked to a network, now unlocked


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    #2749
    user1842
    Registered Users Posts: 1,108 ✭✭✭user1842


    zell12 wrote: »
    It was locked to a network, now unlocked

    How was it unlocked, by the network provider or some other means?


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    #2750
    zell12
    Registered Users Posts: 23,760 ✭✭✭✭zell12


    user1842 wrote: »
    How was it unlocked, by the network provider or some other means?
    a code from ebay!


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    #2751
    user1842
    Registered Users Posts: 1,108 ✭✭✭user1842


    zell12 wrote: »
    a code from ebay!

    How was the code entered?


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    #2752
    zell12
    Registered Users Posts: 23,760 ✭✭✭✭zell12


    user1842 wrote: »
    How was the code entered?
    Manually by myself, can't remember exactly, it was over a year ago.
    I figured there was an obvious answer why I can't get the app


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    #2753
    user1842
    Registered Users Posts: 1,108 ✭✭✭user1842


    zell12 wrote: »
    Manually by myself, can't remember exactly, it was over a year ago.
    I figured there was an obvious answer why I can't get the app

    You need to check if your phone is rooted or not. Install a root checker app from the play store.


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    #2754
    Muahahaha
    Registered Users Posts: 19,616 ✭✭✭✭Muahahaha


    Sorry if covered but is there anyway to lodge cash to N26 in Ireland? Want to close my BOI account but would still need to lodge cash from time to time


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    #2755
    Credit Checker Moose
    Closed Accounts Posts: 1,226 ✭✭✭Credit Checker Moose


    Muahahaha wrote: »
    Sorry if covered but is there anyway to lodge cash to N26 in Ireland? Want to close my BOI account but would still need to lodge cash from time to time
    Nope. There is no way to lodge cash to N26.


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    #2756
    Yggr of Asgard
    Registered Users Posts: 5,161 ✭✭✭Yggr of Asgard


    Credit Checker Moose wrote: »
    Nope. There is no way to lodge cash to N26.

    There is a way via money-gram or western union but it's not the cheapest.

    Your local office will tell you the price, depending on the office it can cost from 1.99€ but some offices are more expensive.


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    #2757
    Muahahaha
    Registered Users Posts: 19,616 ✭✭✭✭Muahahaha


    Ah pity that, I was hoping to only hold an N26 account without the need for a conventional one but I need to logde cash from time to time. Getting annoyed with all their various charges, hopefully N26 set up a facility for cash lodgements at some point, I believe they do it via shops in Germany and Austria


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    #2758
    Ten Pin
    Registered Users Posts: 2,816 ✭✭✭Ten Pin


    Lodge cash in to a Credit Union account and then transfer it to N26.


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    #2759
    Thephantomsmask
    Registered Users Posts: 1,356 ✭✭✭Thephantomsmask


    A free ebs moneymanager account should allow you to do? that It is what I do to transfer cash to my KBC account.


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    #2760
    Officer Giggles
    Registered Users Posts: 1,677 ✭✭✭Officer Giggles


    Ten Pin wrote: »
    Lodge cash in to a Credit Union account and then transfer it to N26.

    Beat me to it, easiest option I find


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    #2761
    Marlow
    Registered Users Posts: 14,555 ✭✭✭✭Marlow


    Officer Giggles wrote: »
    Beat me to it, easiest option I find

    Probably also the sanest option. CUs have come a long way .. a lot even offer online access.

    /M


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