Number26/N26 Mastercard/Account now for Irish Residents

Yggr of Asgard · 02-11-2016 02:02PM

So the EU regulation is that that Business Card are only to be used for business expenses (commercial use only) as the banks are allowed to charge higher acceptance fees for it and also the kickback to the issuer is bigger. In addition a vendor can decline to accept commercial cards while accepting consumer cards. So your shop could decline your business card but accept your consumer card without a problem. The accept all cards rule is out of the window.

So in theory you can only use it for commercial charges however if you only have minimal private use, that is fine, the card must be used predominantly for commercial use. Otherwise it could be canceled.

N26 is providing confusing info there.

KonFusion · 02-11-2016 09:28PM

Why opt for the biz account at all then? (apart from the cashback)

Seems you'd be limiting yourself unnecessarily.

Yggr of Asgard · 02-11-2016 11:44PM

KonFusion wrote: »

Why opt for the biz account at all then? (apart from the cashback)

Seems you'd be limiting yourself unnecessarily.

Because you want a separate account for your business life to make accounting easier?

This dam EU rule is creating havoc all around with cards being canceled when used for private expenses and the earning potentials dropping.

Fred Swanson · 02-11-2016 11:45PM

This post has been deleted.

Elessar · 02-11-2016 11:46PM

N26 bank launching within the week apparently. At least according to their developers. It'll be interesting to see the uptake in ireland

Yggr of Asgard · 03-11-2016 10:17AM

Fred Swanson wrote: »

This post has been deleted.

When will my old card stop working?
Your current cards will continue to work without interruption until you have activated your new N26 Mastercard directly in the app. This step will conclude your account transfer, and only then will your current cards, including your Maestro card, be deactivated. Your new N26 Mastercard will work immediately, so you will have a working card at every step of the way. If you need a new Maestro card, you can order it in Control Center as soon as you activated your Mastercard.

Soruce: https://n26.com/transfer-account/

inel · 04-11-2016 06:26PM

Received the email for transferring my account and completed the first step. The new card is on its way.

They give the option to move to N26 Black for 4.90 euro/month for 1 year (instead of 5.90).

They also give the option to stay with Wirecard bank if you want to keep the same IBAN and don't want to move to N26, but you have to switch to one of Wirecard's products which are more expensive as you will see.

bertie4evr · 04-11-2016 09:19PM

inel wrote: »

Received the email for transferring my account and completed the first step. The new card is on its way.

They give the option to move to N26 Black for 4.90 euro/month for 1 year (instead of 5.90).

They also give the option to stay with Wirecard bank if you want to keep the same IBAN and don't want to move to N26, but you have to switch to one of Wirecard's products which are more expensive as you will see.

When did you join? I wonder if they're transferring the oldest customers first.

Once I am transferred can I start making transfer into it before the new card arrives? I'm starting a new job and would rather give them an IBAN that won't change in a couple of weeks time.

Suckit · 04-11-2016 11:52PM

I received it too,.

Hey Suckit,

N26 Bank is officially open for business, and we ve selected you to be one of our first users. We can now offer all the financial services you need in one place investment today, credit, savings and insurance in the future. These new products are just a sample of what you can expect when you transfer your account to N26 Bank.

When you open the N26 app after updating to the newest version*, we ll guide you through the process to transfer your NUMBER26 account from Wirecard Bank to N26 Bank. Your entire in-app experience will remain the same, but your previous Mastercard will be replaced, and you ll receive a new IBAN. You can choose to stick to the standard N26 account, switch to N26 Business, or upgrade to N26 Black.

Open your app and start transfer

The account transfer process is only available to an exclusive group of active users for now, and we will invite all users to transfer over the next few days. If you have friends who are also N26 users, but haven t received this message, they have nothing to worry about. We re just making sure everyone can enjoy a smooth experience transferring to N26 Bank.

If you want to continue using N26, please transfer by 30 November 2016.

To help you keep track of the process, we created a page for you to see the full timeline of what you need to do, and see how many days you have left to transfer your account.

See the timeline

Opening your account with N26 Bank means accepting the new bank terms and conditions. These include the addition of new products to our pricing page, and some pricing updates.

With this email, we re also letting you know that we re ending our collaboration with Wirecard Bank, who we would like to thank for a great collaboration. This means your old account will formally be closed on 10 January 2017 , but as we mentioned, your in-app experience will not change as long as you transfer on time.

Here is the official language of the cancellation of your old NUMBER26/Wirecard account: On behalf and by authorization of Wirecard Bank AG, in accordance with 8.3 of the NUMBER26 terms and conditions for the current account and in conjunction with 19.1 of the Wirecard Bank terms and conditions, we are terminating your account with ordinary notice to the 10 January 2017. Concurrently we will terminate your access to the NUMBER26 app on 10 January 2017.

Further usage of the account, as well as the card issued with it, will not be possible after this date. Attempts to deposit funds to your account after the end of this period will be rejected and sent back to the sender. We recommend you destroy your card or make it unusable.

If you choose not to transfer your account to N26 Bank, please transfer any remaining balance to another bank account or withdraw funds before the date of termination. If a residual balance remains in the account upon closure, you can request the funds via email to service@wirecardbank.com at a later time.

If you have any questions about transferring your account, check out our Support Center where we explain everything in more detail. We re with you every step of the way.

See you all at N26 Bank!

Your N26 Team

P.S. If you want to keep your existing IBAN and bank account with Wirecard Bank, you will not be able to use the N26 app, card or other N26 services, and you must switch to a different Wirecard product.

*Account transfer requires iOS 8 or higher, and Android 4.3 or higher

Have any questions?
Our Support Center is happy to help.

I am in the process of starting a new company, but realistically won't be ready to move on it until January or February. Should i leave the busines account for now, and move to N26 standard?

I do not really see any benefits for me with N26 Black at the moment.
Are there any with N26 Business?

I do not think a Friday night is a great time to be thinking about this

[/quote]

inel · 05-11-2016 02:57PM

bertie4evr wrote: »

When did you join? I wonder if they're transferring the oldest customers first.

Once I am transferred can I start making transfer into it before the new card arrives? I'm starting a new job and would rather give them an IBAN that won't change in a couple of weeks time.

No, you will get the new IBAN once you activate the new card. Until then everything will work normally with your old card and IBAN.

The process is described in the link provided a few posts above (post #549)

Joined December last year.

Fred Swanson · 05-11-2016 03:03PM

This post has been deleted.

inel · 05-11-2016 03:16PM

Fred Swanson wrote: »

This post has been deleted.

In the email it says 'Please transfer by 30 November', but when confirming my address to send the new card it said I need to activate it by 20th December.

So, I assume 20th December.

jester77 · 05-11-2016 03:45PM

Anyone go with black?

After reading the T&Cs it is not so appealing. The phone and travel cancellation insurance were of most interest to me. I usually get travel insurance when traveling with the kids. However, mobile phone is only insured up to 300, travel insurance looks it can only be used for death or serious illness. Not sure what falls under serious illness but I would guess the kids being sick with some winter virus would not.

Doylers · 05-11-2016 05:47PM

jester77 wrote: »

Anyone go with black?

After reading the T&Cs it is not so appealing. The phone and travel cancellation insurance were of most interest to me. I usually get travel insurance when traveling with the kids. However, mobile phone is only insured up to 300, travel insurance looks it can only be used for death or serious illness. Not sure what falls under serious illness but I would guess the kids being sick with some winter virus would not.

I went with black for the sake of it, might come in handy for the extended warranty(probably wont though). Gutted about the mobile phone insurance though pretty sh1t

soirish · 05-11-2016 07:44PM

Is anyone else missing that email?

TireeTerror · 06-11-2016 12:48AM

soirish wrote: »

Is anyone else missing that email?

I got mine.

Youre obviously not one of the exclusive select customers....

Fred Swanson · 06-11-2016 12:59AM

This post has been deleted.

Delta2113 · 06-11-2016 01:46AM

"Stamp duty - customers who reside in Ireland are subject to a government stamp duty on their debit card of up to 5,00 € per year"

The above is from the website and factually incorrect - they charge you €5 each year even if you never get cash out from a ROI ATM/LATM.

Savman · 08-11-2016 03:25PM

Update: New users who sign up after 30/11/16 will be charged 2.90 per month or €29 per year for the standard MasterCard.

Yggr of Asgard · 08-11-2016 03:38PM

Savman wrote: »

Update: New users who sign up after 30/11/16 will be charged 2.90 per month or €29 per year for the standard MasterCard.

It's not sign up, it's verified your identity which is the criteria.

And here is their reason according to their website:

Why is there a fee for the standard Mastercard?
We're pleased to offer our core N26 Bank account for free in all markets. It gets you all the mobile convenience we're known for, and provides you the ability to add additional services like savings, investment, and credit as we introduce them in each market. Cards do cause a significantly higher cost in terms of printing, distribution, and ATM usage fees. That's why we charge a reasonable monthly fee if you choose to add an optional Mastercard to your free N26 account.

jester77 · 08-11-2016 03:46PM

Yggr of Asgard wrote: »

It's not sign up, it's verified your identity which is the criteria.

And here is their reason according to their website:

Why is there a fee for the standard Mastercard?
We're pleased to offer our core N26 Bank account for free in all markets. It gets you all the mobile convenience we're known for, and provides you the ability to add additional services like savings, investment, and credit as we introduce them in each market. Cards do cause a significantly higher cost in terms of printing, distribution, and ATM usage fees. That's why we charge a reasonable monthly fee if you choose to add an optional Mastercard to your free N26 account.

optional, lol. If you are in Germany or Austria, it is still free where ATM fees are much higher. They should just standardise their costs across all markets instead of making it so confusing. Either charge everyone for the card or limit ATM withdrawals to 3/5 a month.

The account is of little use to most people without the optional mastercard. Strange move, they are making themselves less and less appealing

Yggr of Asgard · 08-11-2016 03:48PM

Also note that for Irish Customers they charge an additional 5€ as per new price list. That charge has not gone away!

Amouar · 08-11-2016 04:42PM

Where did you guys see the update regarding 2.90 per month for new users starting from 30/11/16 ? Could find any update about it on their website.

bertie4evr · 08-11-2016 04:44PM

Amouar wrote: »

Where did you guys see the update regarding 2.90 per month for new users starting from 30/11/16 ? Could find any update about it on their website.

They just sent out an email.

Hey,

Good news: final preparations for you to join N26 Bank are almost complete. Thanks for your patience since you signed up for our waiting list.

We’ll send you an email this week with directions about how to open your N26 bank account.

If you successfully verify your identity before 30 November 2016, you will get your N26 account and Mastercard for free. It’s exactly what you wanted when you first joined our waiting list.

If you verify your identity after that date, you will get your N26 account for free, and you can add the Mastercard as an option for €2,90/month or €29/year based on our new policy for users outside of Germany and Austria.

See you at N26 Bank!

Your N26 Team

I assume this means that all new customers pay this? Not just transferred people who verify late?

Yggr of Asgard · 08-11-2016 04:50PM

And the pricing is now on their website: https://n26.com/ie/pricing/

Suckit · 08-11-2016 05:23PM

With the new N26 is there a way to deposit cash directly in Ireland now? Or will there be?

Yggr of Asgard · 08-11-2016 05:27PM

Suckit wrote: »

With the new N26 is there a way to deposit cash directly in Ireland now? Or will there be?

No there is no way.

You could go down to MoneyGram location and see what price they quote you for transfers to a bank account.

There are some locations which quote 0.01€ to Germany and others have charge way more, there does not seam to be an official table available for location based transfers, only online transfers.

Quackster · 08-11-2016 08:34PM

Suckit wrote: »

With the new N26 is there a way to deposit cash directly in Ireland now? Or will there be?

The few times I've needed to lodge cash, I've generally used my credit union. Just lodge to my CU account at the counter and use my CU mobile banking app to transfer to N26. It's in my N26 account in less than 24 hours.

inel · 09-11-2016 02:01AM

So, whoever switches to N26 Black for now and later wants to go back to the standard free N26 account, will it be required to pay the price for having the standard Mastercard (even though he was an 'old' customer) ?

Who knows...but probably yes..

fbradyirl · 09-11-2016 09:56AM

Savman wrote: »

Update: New users who sign up after 30/11/16 will be charged 2.90 per month or 29 per year for the standard MasterCard.

I wonder will it always be free if you transfer your card/signup as new before that date? Or will they just start charging us next year at some point?

Number26/N26 Mastercard/Account now for Irish Residents

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