Number26 launching free mobile-first bank account in Ireland (Revolut alternative)

Yggr of Asgard

Quackster wrote: »

Hopefully the coming into force today of a 0.3% cap on bank fees for businesses taking domestic credit card payments and a prohibition on businesses charging their customers any more than what their banks charge them for such credit card payments will see the removal of this 2% surcharge.

Hopefully...

As far as I understand it, there is no cap on bank fees for business taking credit card, there is a cap of what an acquirer (i.e. the processing bank/company) pays to the card issuer (in this case number26), that is limited to 0.3% for credit card (and 0.2% for debit cards respective).

I did the video ident thing this morning.....very very weird! I was fair ol' impressed with your man doing it though...very professional. Frightened the life out of me at the start with him rattling away in German!

bk

daheff wrote: »

you'd be surprised. Its an address on a statement from another financial institution. The KYC/AML world is like a merry-go-round. Once you are on (have a statement with a bogus address) then its a lot easier to have other financial institutions accept the address. They tend to believe & rely on other banks having correctly followed AML/KYC legislation.

Well this is a whole other discussion! To be honest, the whole ID and address requirements are badly broken in Ireland. Specially in our modern era of increasing online accounts and people not getting physical bills, etc.

The Irish government has created a complete mess of a dozen different sort of ID cards (passport, new passport card, driving license, public services card, EHIC card, Drug Payments Scheme card, GNIB card, Garda Age card, etc.).

All sort of ID cards, but not quiet officially ID cards, because the Irish politicians are too afraid to introduce an actual single sensible ID card that integrates all of the above into one. thus making things easier and saving the tax payer money.

The funniest one is the GNIB card, that looks exactly like a standard EU ID card and has ALL of the features and correct fields of a standard EU ID card, but on it in big letters it says "This is not an ID card"! Genius, only in Ireland!!

Honestly we should be following Germany and almost all other EU countries * in introducing a national ID card, that is administered by a central authority, that eliminates all of the above cards and where you also register your address with the central authority. Also it would be good for the card to have electronic ID, for interacting with government online services, etc. like other EU countries have introduced.

We could then eliminate the whole idiotic needing multiple bills to open just a simple current account or sign up to a mobile phone contract thing. Instead just use your national ID card to identify yourself and your address.

Yggr of Asgard

bk wrote: »

We could then eliminate the whole idiotic needing multiple bills to open just a simple current account or sign up to a mobile phone contract thing. Instead just use your national ID card to identify yourself and your address.

Not only an ID card but an ID card like Germany or Finland which includes a digital certificate that can be used to generate electronic signatures which can be used online for opening bank accounts, do tax returns and all other thing.

Opening a German bank account when living in Germany is very easy if you have a new German ID card because it reads out the data, generates an electronic signature you verify with your PIN and all is done.

In that respect Ireland is very backward with the ID's you listed, especially as most of the traditional residence verifications are now online only. Cable Bill, Gas bill etc. all now all online.

Kerry Gooner

/\/ollog wrote: »

My passport has my parents address, which is at the other end of the country.
I don't think they care about the address being faked.

Did'nt think that your address was displayed on a passport.

Copper_pipe

They didn't accept my Learners Permit as an ID card.

Bummer1234

Any idea if they accept the Garda age card?

Quackster

Yggr of Asgard wrote: »

As far as I understand it, there is no cap on bank fees for business taking credit card, there is a cap of what an acquirer (i.e. the processing bank/company) pays to the card issuer (in this case number26), that is limited to 0.3% for credit card (and 0.2% for debit cards respective).

Ah, yeah. That makes more sense. The debit card cap the Irish government has introduced is 0.1% rather than the EU maximum 0.2% though.

From my understanding, these caps only apply to domestic transactions in each EU country though so not sure if they apply to Number26 card use in Ireland.

Yggr of Asgard

Quackster wrote: »

Ah, yeah. That makes more sense. The debit card cap the Irish government has introduced is 0.1% rather than the EU maximum 0.2% though.

From my understanding, these caps only apply to domestic transactions in each EU country though so not sure if they apply to Number26 card use in Ireland.

Regulation (EU) 2015/751 of the European Parliament and of the Council of 29 April 2015 on interchange fees for card-based payment transactions

Payment service providers shall not offer or request a per transaction interchange fee of more than 0,3 % of the value of the transaction for any credit card transaction. For domestic credit card transactions Member States may define a lower per transaction interchange fee cap.

So in my reading it means Number26 get's 0,3% unless either Germany or Ireland have defined a lower one.

JAMM222

Rang Vodafone and tried to change my direct debit to number 26....have her the IBAN and BIC. ..it wouldn't work ...she said I have to go into a Vodafone shop with id

Yggr of Asgard

JAMM222 wrote: »

Rang Vodafone and tried to change my direct debit to number 26....have her the IBAN and BIC. ..it wouldn't work ...she said I have to go into a Vodafone shop with id

I ran into similar challenges, some companies require you to fill out a paper mandate for a direct debit from a non Irish account. That seams to be in the rules about SEPA direct debits.

At least they offered you, I'm still struggling with one company who refuses to do it at all.

Yggr of Asgard

Has anybody with an Irish address received their card yet?

Nollog

Yggr of Asgard wrote: »

Has anybody with an Irish address received their card yet?

Not I, I registered last Friday and confirmed my face Sunday evening.

Delta2113

Yggr of Asgard wrote: »

Has anybody with an Irish address received their card yet?

- No - opened a/c last Saturday.

inel

Yggr of Asgard wrote: »

Has anybody with an Irish address received their card yet?

At least one received. Check post #183

TMC99

inel wrote: »

At least one received. Check post #183

Not sure they are living in Ireland -might be in Germany

Yggr of Asgard

So no card in this mornings postal delivery, however I got 2 letters from some other German senders which were posted on 03 December (yes 8 days ago) which were send via priority/airmail, so it looks like the delivery time for letters from Germany is now over a week.

soirish

In case anyone wants to open a joint account with Number26 here is their official answer:

Can I open a shared account with NUMBER26?

Our team is constantly working to develop new functionalities for our product according to customer demand. Shared accounts are one of the options we’ll be considering over the next months.

Fred Swanson

This post has been deleted.

Nollog

Fred Swanson wrote: »

This post has been deleted.

Mine does, it expires in 2017 though.

Fred Swanson

This post has been deleted.

RonyPonyBah

Card arrived in Waterford this morning!
looks the business!!

Yggr of Asgard

Same here, card came today and looks fine.

Fred Swanson

This post has been deleted.

mrmcq2u

You enter in your details and get a link to enter the video chat on desktop or mobile straight away. You might be in a queue once you click on it for 5 mins or so. There's no appointments.

Yggr of Asgard

Before going shopping with the card in Ireland make sure that you go to an ATM and withdraw cash.

Due to the way the card is coded a visit to the ATam is needed so that the PIN you did choose is written to the card and you are able to use Irish POS systems which want offline PIN.

Also if you ever change your PIN online, see an ATM afterwards.

Delta2113

Any update Yggr of Asgard on the card coding?

RonyPonyBah

Yggr of Asgard wrote: »

Before going shopping with the card in Ireland make sure that you go to an ATM and withdraw cash.

Due to the way the card is coded a visit to the ATam is needed so that the PIN you did choose is written to the card and you are able to use Irish POS systems which want offline PIN.

Also if you ever change your PIN online, see an ATM afterwards.

Seems like you don't need to use an ATM to set the pin.
I set the pin in the app, transferred 20 quid from TSB just for testing.

Got the card in the post today, went straight into town and it worked!


(Proof of no ATM)

OU812

It amazes me how Revolut & now Number 26 (& possibly the other one), can have the name of the store where you spent immediately in the app, yet an Irish bank takes three days to post the transaction & at that has very little info.

Doesn't surprise me. The majority of the country is backward.