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Number26/N26 Mastercard/Account now for Irish Residents

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    #3482
    .G.
    Registered Users Posts: 5,415 ✭✭✭.G.


    Those of you using N26 as your main bank account and without an Irish legacy bank in the background how are you finding it?

    I'm weighing up my options as I'm a KBC customer so have to change at some point, I also have N26 a few years now and Revolut. I've been using KBC as my main payment account, wages in and bills out etc and N26 for my disposable income, purchases, savings for things etc. Never need to go to a branch but I know from this thread the German Iban can cause hassle so wary of not having an Irish one as a fall back. Comparing Irish accounts online and the charges they apply, AIB in particular, are scandalous, especially since they don't charge them in their other markets. Considering EBS for a basic Irish account to replace my KBC one.



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    #3483
    JosephPatrick
    Registered Users Posts: 38 ✭JosephPatrick


    https://www.boards.ie/discussion/comment/118117416#Comment_118117416

    Started using N26 in January as my main bank account (closed my AIB account a couple months afterwards)

    I get my wages paid weekly, use it for all my purchases, Direct Debits( Virgin Media, utility bills, health insurance), Standing Orders for savings and rent.

    The only issue I had really was the DE IBAN for my health insurance (we can only use Irish IBANs and Banks etc etc) But it was resolved in one phone call to them as they said they had never actually tried to use any other IBAN before.



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    #3484
    Wheety
    Registered Users Posts: 5,510 ✭✭✭Wheety


    https://www.boards.ie/discussion/comment/118117416#Comment_118117416

    I'm using it as my own main account. We do have a KBC joint account at the moment. I have a credit union "shares" account (not a current account) so there are no fees on it and I can lodge cash or cheque if I ever needed to.

    I haven't had a reason to visit a branch in a long time, like 10+ years.

    Leaning towards AIB for mortgage and joint account when KBC leave as we would qualify for fee free banking, for a while anyway.



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    #3485
    Quackster
    Moderators, Regional South Moderators Posts: 5,749 Mod ✭✭✭✭Quackster


    https://www.boards.ie/discussion/comment/118117416#Comment_118117416

    I get my wages paid into, and direct debits taken out of, my credit union (non-current) account. I then zap day-to-day spending money to my N26 or Revolut accounts. Also have an EBS account as a backup, should I need it.



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    #3486
    Yggr of Asgard
    Registered Users Posts: 5,161 ✭✭✭Yggr of Asgard


    And now it is official.

    The German Regulator BAFIN has ordered multiple actions against N26.

    a.) The earlier announced limit of new business has been formalized to be a maximum of 50.000 new customers per month (in total for all regions the bank is active).

    b.) A maximum of 500.000.000 Euro is set for obligations secured via property (again overall for the whole area N26 is active in).

    c.) The Special Supervisor will continue to be in place and must report to BAFIN regularly on progress around new customer vetting, the outsourcing of services to a provider based in Greece, the ordered improvements to their IT System and more important their risk management.

    This is with effect of 6 November and final and shows that the BAFIN is not happy with the progress made since 11 May when they initial put a special supervisor in and following the 4.250.000 € fine in June (for reporting on possible criminal activity too late).

    This is not good news for them.



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    #3487
    wassie
    Registered Users Posts: 3,327 ✭✭✭wassie


    Doesn't seem to be putting a holt to their expansion plans if the report in the I.T. yesterday is anything to go by.

    https://www.irishtimes.com/business/financial-services/n26-weighs-up-plans-for-irish-operation-employing-up-to-100-1.4721917




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    #3488
    Yggr of Asgard
    Registered Users Posts: 5,161 ✭✭✭Yggr of Asgard


    After the disastrous outsourcing of their customer service and back-office functions to Greece I don't think that the BAFIN supervisor will be looking too kindly on an attempt to remove roles offshore to Ireland or crypto.

    Crypto specifically will be hard to justify due to high risk transactions which is one of the reasons they are in trouble.



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    #3489
    markpb
    Registered Users Posts: 9,261 ✭✭✭markpb


    https://www.boards.ie/discussion/comment/118142649#Comment_118142649

    “Following recent talks with Tánaiste Leo Varadkarin Berlin, at which he pressed the case for N26 establishing a talent hub in Ireland, Mr Tayenthal said the company was exploring the idea.”

    I wouldn’t read too much into that. A National politician asked him to open an office in their country and a businessman said he’d think about it.



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    #3490
    Yggr of Asgard
    Registered Users Posts: 5,161 ✭✭✭Yggr of Asgard


    So, it looks like that there was some slight confusion about the special supervisor which has now been clarified.

    There are indeed now two special supervisors (or team of) looking after 2 different areas of the business

    The original May which is looking after the issues with Anti Money Laundering specially around "prevention of money laundering and anti-terrorism funding".

    The new November one which is looking after "risk associated with risk management including infrastructure (IT) and outsourcing management".

    Fundamental it also boils down to BAFIN telling N26 to concentrate on initial customer identification, monitoring of individual transactions and timely notification of suspect transactions to the authorities.

    So, there are now two teams of external consultants involved to ensure that N26 gets their house in order.



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    #3491
    unkel
    Registered Users Posts: 65,047 ✭✭✭✭unkel


    https://www.boards.ie/discussion/comment/118110338#Comment_118110338

    You are correct. I tried my utmost this morning to get my IBAN changed to a DE one over the phone with Vodafone customer service, was talking to several department and several managers. They took it fairly seriously and guaranteed me that it could be done, but only in a Vodafone shop (exactly the same as the message on their website)


    I had to go to Liffey Valley anyway, so went into the Vodafone shop and just a couple of minutes later it was done. Got a confirmation email from Vodafone and I got a follow up call from one of the managers I spoke to earlier to also confirm it was all done and that Vodafone does NOT do any IBAN discrimination, it's just a systems issue that they haven't resolved yet


    Hope this settles this old score and hope this is helpful to someone trying to do the same 😃



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    #3492
    spalpeen
    Registered Users Posts: 130 ✭✭spalpeen


    According to my N26 app, I get 3 free atm withdrawals. However, I only have a virtual card. Do we actually have atms in ireland which support this virtual card atm withdrawal process? Ive never done it or seen it



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    #3493
    flazio
    Registered Users Posts: 12,912 ✭✭✭✭flazio


    Nope. Physical card in a physical machine. Not sure if retailers would allow cash back on a contactless transaction. You could always ask.



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    #3494
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    https://www.boards.ie/discussion/comment/118149917#Comment_118149917

    there's no point asking, you can't. it's not a retailer decision neither Visa nor MasterCard will allow cash back via contactless whether that's just the card, using ApplePay or Google Pay etc.



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    #3495
    Yggr of Asgard
    Registered Users Posts: 5,161 ✭✭✭Yggr of Asgard


    https://www.boards.ie/discussion/comment/118149873#Comment_118149873

    Go and try an EuroNet ATM, they do accept NFC on some of them.

    BUT please ensure that you check carefully if they apply a charge for the withdraw, they should not charge Irish Debit Card Holders for Cash Withdraws, however it depends on how your N26 card is coded.

    So, try, but make sure you check the on-screen messages for any fees!



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    #3496
    Cabaal
    Moderators, Technology & Internet Moderators, Regional South East Moderators Posts: 28,470 Mod ✭✭✭✭Cabaal


    Been using N26 since 2018 now,

    I origonally got it as a backup account as I had awful issues with Ulster Bank at that time, but when I got sick of Ulster I switched to KBC. But as soon as KBC announced they were done with Ireland months back I decided to move everything to N26, my experience would be as follows:

    Cons:

    • Had some issues with Energia and Vodafone for payments, I had to ring both to get things resolved
    • No cash/cheque lodgements, extremely rare but nice to have
    • For some odd reason AIB simply won't allow her to save a DE IBAN as a quickpay payee on her account, AIB say this can't be done with none Irish IBAN. This does seem like IBAN discrimination to me. If she wants to transfer money she has to enter IBAN every time.

    Pros

    • Notifications of payments, this is seriously useful.
    • Only experienced this last week, N26 will email you to inform you that you don't have enough funds to cover a upcoming direct debit. The emails warns you will incur a charge if it bounces. Every bank should be doing this!
    • Having two physical cards on the one account is very useful for me
    • Income/Outgoing payment stats is useful to see upcoming recurring payments, it takes 2-3 months to pickup some recurring payments but when it does it appears to be fairly accurate when it estimates when payments will happen.
    • The N26 app is great, quick, easy to navigate and far, far less annoying then the spammy app that Revolut use.
    • Setting up transfers is always very easy and quick. This was never an issue with KBC but its far, far superior then AIB.
    • I pay 4e a month for a N26 Smart plan. In all hoesty I have this just so I can have extra spaces but mainly because of the rounding up option. Rounding up and saving the extra bit into a specific space is a simple way of saving a new few euro over a few months without feeling it.

    Thats my take, even with the stories of non-Irish IBAN issues some people have experienced I only had two companys with problems. Everyone else including my local credit union had no issues whatsoever.



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    #3497
    unkel
    Registered Users Posts: 65,047 ✭✭✭✭unkel


    My story is nearly identical to yours, Cabaal.


    As for the inability to lodge cash, I just opened an account with my local credit union for that (also completely free) and also good to mention the seamless integration between N26 and Wise (formerly TransferWise), with is probably the cheapest way to send money abroad to a non-Euro account


    I still have Revolut too, which in fairness is the easiest of all to make instant transfers (even to GBP bank accounts) and it is just more widely used



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    #3498
    Spipov
    Registered Users Posts: 1,999 ✭✭✭Spipov


    Hi all


    ive tried to sign up to n26 a few weeks back. Im told im on a waiting list. Is there a freeze at the minute?



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    #3499
    Yggr of Asgard
    Registered Users Posts: 5,161 ✭✭✭Yggr of Asgard


    https://www.boards.ie/discussion/comment/118168049#Comment_118168049

    Yes #3501 (boards.ie)



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    #3500
    loyatemu
    Registered Users Posts: 14,821 ✭✭✭✭loyatemu


    For some odd reason AIB simply won't allow her to save a DE IBAN as a quickpay payee on her account, AIB say this can't be done with none Irish IBAN. This does seem like IBAN discrimination to me. If she wants to transfer money she has to enter IBAN every time.

    on AIB you can go into the Payment Logs and reuse the old details from the last transfer, this avoids having to retype/copy the IBAN, but you still need to use a card-reader every time which is annoying.



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    #3501
    wassie
    Registered Users Posts: 3,327 ✭✭✭wassie


    +1 to this.

    My experience with N26 also would be similar. Still maintain an AIB account as a few times a year I need to lodge a cheque. However by doing the majority of my transacting out of the N26, my total AIB current account fees for the last 12 months was €46 or €3.83/month.

    N26 app is brillant, whereas the AIB app is years behind.



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    #3502
    unkel
    Registered Users Posts: 65,047 ✭✭✭✭unkel


    https://www.boards.ie/discussion/comment/118179652#Comment_118179652


    Still an awful waste of money. I've never paid any bank charges in this country. Tell whoever issues the cheques to cop the fock onto themselves. It's 2021, not 1971. Cheques should have been abolished many decades ago. None of my customers now pay me with a cheque, after I simply told them I will no longer accept them.



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    #3503
    Quackster
    Moderators, Regional South Moderators Posts: 5,749 Mod ✭✭✭✭Quackster


    https://www.boards.ie/discussion/comment/118179652#Comment_118179652

    You could open an EBS MoneyManager account for lodging the odd cheque and pay nothing. Of course, not an option if you don't have an EBS near you but a bank or post office deposit account or a share account at your local Credit Union are other fee-free options.



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    #3504
    wassie
    Registered Users Posts: 3,327 ✭✭✭wassie


    Thats sound advice.

    However for my circumstance, for €3.83/month I have access to a local branch, an Irish IBAN for a couple of direct debits.

    For me, this tiny cost is worth it versus the time that would be involved in fighting numerous organisations that don't readily accept non-Irish IBANs everytime sign up to a new service or change providers (which happens regularly).


    https://www.boards.ie/discussion/comment/118181147#Comment_118181147

    Tell whoever issues the cheques to cop the fock onto themselves. It's 2021, not 1971.

    Irish Govt departments are the main culprits, one of which is Revenue. No surprises there really.



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    #3505
    unkel
    Registered Users Posts: 65,047 ✭✭✭✭unkel


    Revenue pay directly to your IBAN and have done so for many years! In fact they were the easiest of them all for changing my direct debit to a non IE IBAN number. Took about a minute to do it online. Credit where credit is due.



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    #3506
    wassie
    Registered Users Posts: 3,327 ✭✭✭wassie


    I've imported half a dozen cars over the last few years and appeal the VRT appeal on all of them. Each time the refund is delivered by cheque....from Revenue. And I wasnt given the option even when I queried it.



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    #3507
    unkel
    Registered Users Posts: 65,047 ✭✭✭✭unkel


    https://www.boards.ie/discussion/comment/118182714#Comment_118182714


    Must have been a long time ago. Last car I imported (early last year), I got the VRT refund directly into my IBAN



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    #3508
    wassie
    Registered Users Posts: 3,327 ✭✭✭wassie


    Nope - mid last year was last one. This inconsistency for the same service is just another example of why dealing with them so frustrating. Unlike yourself, I won't be giving any props to Revenue anytime soon as clearly Im not alone if others experiences (such as this one) are anything to go by.



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    #3509
    unkel
    Registered Users Posts: 65,047 ✭✭✭✭unkel


    Dunno, you must have forgotten to tick a box? I imported my car in March 2020, paid the VRT at the next possible appointment by debit card, put in an appeal and about a week or so later I got a full refund of the VRT I paid. Directly onto my card (just checked)


    Or maybe you paid the VRT with a cheque (we miss the :pac: here 😀)



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    #3510
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,065 Mod ✭✭✭✭Jim2007


    https://www.boards.ie/discussion/comment/118183814#Comment_118183814

    I’ve had various revenue refunds paid to my Swiss IBAN as well I can’t even remember the last time it was by cheque. Maybe go back and challenge them. The Revenue deal with people all over Europe, so not being able to handle IBAN transactions would be a big issue.



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    #3511
    The J Stands for Jay
    Registered Users Posts: 5,678 ✭✭✭The J Stands for Jay


    https://www.boards.ie/discussion/comment/118181929#Comment_118181929

    Revenue have been perfectly happy to pay directly into my N26 account since 2016.



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