Number26/N26 Mastercard/Account now for Irish Residents

Bob24 · 10-05-2017 02:26PM

Looks like instant access savings accounts are also on the way: https://techcrunch.com/2017/05/10/n26-launches-saving-accounts-with-raisin/

"if you don’t want to have your money stuck on a savings account, N26 will launch overnight savings later this year."

Suckit · 10-05-2017 02:41PM

I got in contact with amazon, they were not of any help in this instance.
They tried to tell me that my bank charged me, and offered to 'release my money'.

?
So i then contacted N26, who told me (confirmed) that Amazon had charged me in euro.
They said that they do not know what the code is for that i was given, and that they had not authorised the payment before it was cancelled.
Amazon had cancelled the order, but not the payment, so now i have to wait up to 10 days for the payment to expire, and i may end up losing money when it is converted back fro euro to sterling to euro via amazon.
I am not sure whether to laugh or cry, as i did not even want to cancel.

Now i have to wait for the money to come back before i can reorder. Amazon told me that they have not charged me and the bank has my money and i have to wait 7 - 10 days.

Savman · 10-05-2017 02:56PM

Suckit wrote: »

I got in contact with amazon, they were not of any help in this instance.
They tried to tell me that my bank charged me, and offered to 'release my money'. ?
So i then contacted N26, who told me (confirmed) that Amazon had charged me in euro.
They said that they do not know what the code is for that i was given, and that they had not authorised the payment before it was cancelled.
Amazon had cancelled the order, but not the payment, so now i have to wait up to 10 days for the payment to expire, and i may end up losing money when it is converted back fro euro to sterling to euro via amazon.
I am not sure whether to laugh or cry, as i did not even want to cancel.
Now i have to wait for the money to come back before i can reorder. Amazon told me that they have not charged me and the bank has my money and i have to wait 7 - 10 days.

This really belongs on an Amazon thread because it has nothing to do with N26. Lesson learned anyway, you'll know the next time a Vendor offers a "convenient" currency conversion, they are quite sneaky with this.

Bob24 · 10-05-2017 03:02PM

Amazon possibly just placed a hold for the order in euros to be released when the order ships and you get charged in pounds. If it is the case you won't be charged anything for conversion.

That's one annoying think with N26: you can't clearly tell the difference between a hold and an actual charge.

One hint though: of nothing has shown up for this transaction on your PDF statement 2-3 working days after the date shown on the app, you will probably never get charged (the PDF statements only show clear transactions while the app will show pending transactions and holds with no clear way to tell the difference between these)

Suckit · 10-05-2017 03:05PM

Yeah it is something to watch out for, for sure.
I thought that once i made sure i chose GBP the cash would be exchanged by N26.
Pesky amazon hiding ways to charge. I will be watching more things like that in future.

JTMan · 10-05-2017 05:55PM

Interesting to see N26 launch deposit products today, real shame that Irish customers are excluded.

I hold out some hope that the products will eventually be available in Ireland. N26 are regulated by the Central Bank of Ireland (CBI) for conduct purposes. Raisin are not regulated by the CBI in any capacity which has caused the regulatory issue which has caused their products to not be available here. Perhaps Raisin will find a way into Ireland via N26.

Bob24 · 10-05-2017 06:39PM

Answer I got for N26 for available of savings outside Germany is that it would be available in other countries within this year.

Still pretty vague but at least in means they intend to launch it in the short to medium term.

pasquale83 · 11-05-2017 08:56PM

Folks, I am going to London for the weekend and want to use the contactless card for paying public transports: https://contactless.tfl.gov.uk/

Has anyone experience of using the debit mastercard for that purpose?

Zagato · 11-05-2017 11:31PM

pasquale83 wrote: »

Folks, I am going to London for the weekend and want to use the contactless card for paying public transports: https://contactless.tfl.gov.uk/

Has anyone experience of using the debit mastercard for that purpose?

Yes, works fine for me.

Savman · 11-05-2017 11:43PM

Same here worked no problem on the tube.

IIS · 14-05-2017 03:24PM

Hi JTMan, what do you mean with "Deposit Products"?
I dinges up for an account with them yesterday.

Thanks

JTMan wrote: »

Interesting to see N26 launch deposit products today, real shame that Irish customers are excluded.

I hold out some hope that the products will eventually be available in Ireland. N26 are regulated by the Central Bank of Ireland (CBI) for conduct purposes. Raisin are not regulated by the CBI in any capacity which has caused the regulatory issue which has caused their products to not be available here. Perhaps Raisin will find a way into Ireland via N26.

ED E · 14-05-2017 03:27PM

IIS wrote: »

Hi JTMan, what do you mean with "Deposit Products"?
I dinges up for an account with them yesterday.

Thanks

Savings accounts

N26 is launching yet another feature to build a modern retail bank for European customers. This time, the company is partnering with Raisin, a German startup also known as WeltSparen. In just a few taps, you?ll be able to open a savings account for money you don?t need.

Raisin doesn?t build savings accounts itself. Instead, the company is partnering with financial institutions across the Eurozone to find the best rates for you. So you can say that you have ?10,000 and that you?re willing to save for a couple of years. Raisin could find a bank in Portugal or Austria so that you get the best rates possible.

But Raisin also opens the account for you so that you don?t have to deal with all the paperwork. Rates depend on your initial deposit and the chosen term. N26 says that you can expect up to 1.5 percent interest per year.

All your deposits are guaranteed up to ?100,000 per bank by the National Deposit Guarantee Scheme as part of the European Union.

millhousegirl · 15-05-2017 03:54PM

Has anybody used N26 for a large Fx payment?

I'm considering using the account for purchasing a car in the UK. £20k+. The main reason being is that I want to get the benefit of the favorable fx rates.

Is there any reason that I should be concerned?

blade1 · 15-05-2017 04:19PM

millhousegirl wrote: »

Has anybody used N26 for a large Fx payment?

I'm considering using the account for purchasing a car in the UK. £20k+. The main reason being is that I want to get the benefit of the favorable fx rates.

Is there any reason that I should be concerned?

I did.
Had problems with the transfer as N26 were changing to the new card at the time and transactions by transfer wise were suspended during the change over.
So I had to go directly through Transfer wise who were brilliant, to sort it out for me.
They have an app,check it out.
The transfer to sterling was around €550 cheaper I think to use them, rather than my Irish Bank.

jester77 · 17-05-2017 04:45PM

Apple Pay rolling out later this year, Italy to get it first

Bob24 · 17-05-2017 07:47PM

Good news but strange it is Italy only. Surely the technical infrastructure will be identical regardless of where the customer lives. Could they have to negotiate fees with Apple on a country basis?

RHJ · 18-05-2017 01:49PM

This post has been deleted.

The J Stands for Jay · 18-05-2017 02:32PM

RHJ wrote: »

Has anyone managed to switch to bord gais using this bank?

Just tried signing up online with them and they were BEING ILLEGAL.

Is there a list of companies that won't accept this account?

Fixed your post.

Here's the relevant thread: http://touch.boards.ie/thread/2057540573/1/#post98187969

The J Stands for Jay · 18-05-2017 02:33PM

blade1 wrote: »

I did.
Had problems with the transfer as N26 were changing to the new card at the time and transactions by transfer wise were suspended during the change over.
So I had to go directly through Transfer wise who were brilliant, to sort it out for me.
They have an app,check it out.
The transfer to sterling was around €550 cheaper I think to use them, rather than my Irish Bank.

How long does the transfer take to get the the recipient? Just wondering how it'd work on buying a car in a private sale in the North.

nsa0bupkd3948x · 18-05-2017 02:40PM

McGaggs wrote: »

How long does the transfer take to get the the recipient? Just wondering how it'd work on buying a car in a private sale in the North.

I did a transfer using transferwise to an account in London. Took a couple of hours to clear.

Bob24 · 18-05-2017 02:42PM

For those who had asked the question before, I am applying for a mortgage with AIB and N26 as a main account doesn't seem to be a problem for them. They just asked me for 12 months of statements if available whereas for other accounts they usually only want 6 months (this is due to the fact that for foreign accounts they usually ask for a credit report in that country, but they told me in the case of N26 since it is online and they address the Irish market they will wave that requirement).

Now that's their staff telling me this before submitting the actually documents for approval. If for some reason they don't approve because of N26 I will post here.

fbradyirl · 18-05-2017 10:32PM

Bob24 wrote: »

For those who had asked the question before, I am applying for a mortgage with AIB and N26 as a main account doesn't seem to be a problem for them. They just asked me for 12 months of statements if available whereas for other accounts they usually only want 6 months (this is due to the fact that for foreign accounts they usually ask for a credit report in that country, but they told me in the case of N26 since it is online and they address the Irish market they will wave that requirement).

Now that's their staff telling me this before submitting the actually documents for approval. If for some reason they don't approve because of N26 I will post here.

Bob24. There won't be a problem. I went through this with AIB and KBC and neither had a problem with N26.

Bob24 · 18-05-2017 11:12PM

fbradyirl wrote: »

Bob24. There won't be a problem. I went through this with AIB and KBC and neither had a problem with N26.

Slight off-topic question, but out of curiosity do you have any bank accounts in countries or have you lived in other countries, and did AIB ask for credit report in all of these countries. They waived the requirement for N26 but they are still adamant they need it for other foreign accounts / credit cards.

fbradyirl · 19-05-2017 06:57AM

No haven't lived away for any substantial amount of time.

Suckit · 20-05-2017 10:59PM

I went to the atm to withdraw €50 from it, and it went through the process (AIB) and acknowledged everything etc..
It then displayed "Please take your card and cash".

I took the card, and waited about 20 seconds and no cash, so i started looking at the money slot and the other slots beneath.
The cash never came out. A couple were behind me and the girl said "i think you have to wait for the card.."
I told her i had taken the card. The message was still displayed on the screen. It then disappeared, and i put my card in again.
This time it just said "Transaction cancelled" and spat out my card, then the machine displayed "Out of Service".

I checked my app, and i was deducted €50 from the atm.
I rang AIB and they told me to wait 24 hours and see if it went back into my account, i was not able to get through to N26.
If the money does not come back, and N26 say it was withdrawn, (I realise that i am anticipating for the worst) where do i stand?
Somebody said that the money may have been stuck, and when the machine went back online, the next customer may have, for example, tried to withdraw €20 and received €70.

Explosive_Cornflake · 21-05-2017 09:27AM

That will probably sort itself out, simiilar happened to me before. I might take a week though.
It's becuase N26 show pending transactions as a transaction. As others have said before, download a statement and it won't be there, as it only show fully cleared transactions.

Julabo · 21-05-2017 03:00PM

Suckit wrote: »

I went to the atm to withdraw €50 from it, and it went through the process (AIB) and acknowledged everything etc..
It then displayed "Please take your card and cash".

I took the card, and waited about 20 seconds and no cash, so i started looking at the money slot and the other slots beneath.
The cash never came out. A couple were behind me and the girl said "i think you have to wait for the card.."
I told her i had taken the card. The message was still displayed on the screen. It then disappeared, and i put my card in again.
This time it just said "Transaction cancelled" and spat out my card, then the machine displayed "Out of Service".

I checked my app, and i was deducted €50 from the atm.
I rang AIB and they told me to wait 24 hours and see if it went back into my account, i was not able to get through to N26.
If the money does not come back, and N26 say it was withdrawn, (I realise that i am anticipating for the worst) where do i stand?
Somebody said that the money may have been stuck, and when the machine went back online, the next customer may have, for example, tried to withdraw €20 and received €70.

Same happened to me before but using BOI card in AIB machine

Took 5 working days to return funds.

ED E · 21-05-2017 07:44PM

Yaggar and co know the system better but my understanding is:

You provide pin
ATM sends auth request to clearing which is passed to N26
N26 authorize and log the transaction to their backend (thus app etc)
ATM receives authorization but fails to dispense

With a payment terminal if the authorization comes back thats it, you're done, there's little else to fail, but with an ATM mechanical gubbins can go awry. When AIB later batch process the ATM records they send Mastercard/N26 the updated info.

Suckit · 22-05-2017 11:42AM

Thanks guys, i got on to them this morning just to confirm that it happened, and N26 told me that it was held in reserve.

It should reappear back in my account within a maximum of 10 days.

Apparently it is held in a reserve, and allowing for mistakes, the reserve is not forwarded for 5 days.

sdm · 29-05-2017 06:35PM

I applied for a N26 card am am wondering if I still need an Irish bank account, ie: what can you NOT do with N26? Thanx and glad to see so many users.

Number26/N26 Mastercard/Account now for Irish Residents

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