N26 Account Termination

the-island-man

Hi,

I got a notification out of the blue yesterday that my N26 Account will be terminated by the end of October and that I need to transfer all funds out by the 31st of October.



I sent a reply to the emailing asking what exactly I did to break the agreement and also contacted the live support through the app who was really unhelpful and just told me to wait for a reply to the Email.

Does anyone know how you make a formal complaint to the Bank? I have found this page among the FAQ's but there's no contact details on it https://support.n26.com/read/000001439?locale=en

If I broke the contract then that is ****ty service but i'll accept it but the vague email without an explanation is unfair and the extremely short timeline to close the account does not seem correct to me. It's such a pity as I love the application, it's so much better than any other bank's online app.

murpho999

I have had an issue with opening an account with them. Chat was unhelpful but did give me a complaints email address.

complaints@n26.com

That's the e-mail to try.

I'm getting nowhere with them though.

the-island-man

murpho999 wrote: »

I'm getting nowhere with them though.

Thank you for providing the email. I am hoping for just any response from them so I can bring it to the financial ombudsman.

caviardreams

I remember somebody else posting similar on the N26 thread a while back - that their account got closed with no apparent reason, just an unspecified breach of T&C. You could take a look at the thread (it is a while back). It does seem odd, and hopefully it is not a regular thing. Is there any possible reason you can think of? Were you using it a lot or for very large sums?

dennyk

When this came to light a couple years back, it turned out they were cancelling a lot of accounts because they were making a larger number of ATM withdrawals, which was costing N26 too much money (as they didn't charge customers ATM fees at that time). These days I think they charge you here if you make more than a few withdrawals per month, but it could be there's something else with your usage pattern that is cutting into their profit margins (either you're doing something too much, or not enough).

It's also possible you may have done something to trigger their fraud or money laundering monitoring system. It's very unlikely they'll provide any details or even tell you if that's the case, though, as they don't want people to know when they're being caught out or figure out what signs they're looking for (and thus be able to figure out ways to avoid detection).

Yggr of Asgard

From the wording, it might be that they are suspicious about the transactions that you are undertaking. Is this a standard account and it might be that there are business transactions on it (for example loads of ebay/paypal transactions)?

Also, ad dennyk says if you do a lot of ATM transactions (which cost them a lot of money) they might not want you as a customer.

While it's not going to help you immediately you could send them a subject access request under GDPR which might give you enough data to determine what they have used to come to this conclusion. It might not spell out the reason but will point you in the right direction.

Wynner05

Did you leave out your tax I.D? (pps) It lets you skip when you sign up but they give a couple of warning emails for that and then terminate the account?

Under His Eye

Or do they think you are not resident in Ireland?

the-island-man

I used currency fair to transfer money from a bank account in another jurisdiction which I was resident in until July of this year onto this account and then transferred it to a savings account in Ireland which I admit must have looked dodgy and which was stupid but I wouldn't have thought twice about this transaction with an irish bank account.

but I can have no ill feeling about the account being closed. However, my gripe is with the lack of a warning or worse still giving someone less than 2 weeks to move to a new bank account is very short notice.