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Number26/N26 Mastercard/Account now for Irish Residents

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    #3632
    Red Silurian
    Registered Users Posts: 8,446 ✭✭✭Red Silurian


    https://www.boards.ie/discussion/comment/119388992#Comment_119388992

    Yeah I think I'd rather not bite the hand that feeds me and instead find a workaround



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    #3633
    unkel
    Registered Users Posts: 64,961 ✭✭✭✭unkel


    Then the credit union route will work. I've done it myself just so I can lodge the occasional cash or even cheques. That the latter still exist in 2022 is preposterous 😂



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    #3634
    OfflerCrocGod
    Registered Users Posts: 6,306 ✭✭✭OfflerCrocGod


    https://www.boards.ie/discussion/comment/119392219#Comment_119392219

    Don't be combative, link to the central bank site and explain your situation, finance is there to deal with these issues.



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    #3635
    wassie
    Registered Users Posts: 3,310 ✭✭✭wassie


    @Red Silurian there was an article in the Irish Times yesterday dealing with this situation but with Revolut.

    https://www.irishtimes.com/your-money/2022/07/26/revolut-iban-discrimination-means-i-cannot-get-paid/

    May be worth checking with your employer if they can check their payment system for a similar solution.



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    #3636
    Red Silurian
    Registered Users Posts: 8,446 ✭✭✭Red Silurian


    https://www.boards.ie/discussion/comment/119392322#Comment_119392322

    I'm thinking it's the best route but if anybody has a better one that doesn't involve complaining about my employer then I'm all ears

    For the record I'd happily make such a complaint about a service provider



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    #3637
    Rock Paper Scissors
    Registered Users Posts: 811 ✭✭✭Rock Paper Scissors


    I have used N26 for my bank for the last 6 years and never had an issue.

    I have a large amont of cash in my account but Im really concerned reading the huge amount of horror stories on reddit about people having their accounts frozen / locked.

    I dont believe everything I read online but all of these stories cant be false.

    I buy large amount of cryptocurrency from multiple exchanges every month so am nervous about my account getting locked.

    Am considering switching my account to an Irish bank



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    #3638
    antimatterx
    Registered Users Posts: 2,686 ✭✭✭antimatterx


    https://www.boards.ie/discussion/comment/119451812#Comment_119451812

    Not the worst idea. I do trust these Fintech banks, but I still keep my big savings with AIB. Only because of their longevity and I've had 14 years of no issues while banking with them



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    #3639
    henke
    Registered Users Posts: 2,333 ✭✭✭henke


    I have been banking without issue with N26 this past few months without issue. I am curious if any of these reports of accounts been frozen actually happened to any Irish customer.



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    #3640
    vicwatson
    Registered Users Posts: 28,403 ✭✭✭✭vicwatson


    Anyone got experience of waiting time to open a standard account when in the queue?



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    #3641
    unkel
    Registered Users Posts: 64,961 ✭✭✭✭unkel


    I'll take those account closures with a grain of salt. So far nobody in here has stated their N26 account got frozen, did they?



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    #3642
    Citrus_8
    Registered Users Posts: 1,161 ✭✭✭Citrus_8


    https://www.boards.ie/discussion/comment/119472251#Comment_119472251

    Closed and frozen aren't the same. It has been frozen to my relative recently (sole trader) and it's taking weeks to get resolved.



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    #3643
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,043 Mod ✭✭✭✭Jim2007


    https://www.boards.ie/discussion/comment/119472251#Comment_119472251

    Having one's account closed and having ones account frozen are two very different things. In an account closure you will be given notice of the pending closure and requested to transfer your funds within a given time frame. In the case of an account been frozen you will have no notice, the staff usually can't communicate with you about the action and you will have no access to your funds until such time as the authorities, not the bank, conclude that there has been no attempt at money laundering.

    And yes there have been occasions where people have reported their accounts frozen here. I can recall being asked to delete two threads in the last 12 months or so at the request of the OPs on the advice of their solicitor.



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    #3644
    unkel
    Registered Users Posts: 64,961 ✭✭✭✭unkel


    I didn't phrase that very well and I stand corrected that it is indeed happening here, thanks for the update!



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    #3645
    blade1
    Registered Users Posts: 12,161 ✭✭✭✭blade1


    Hi, is there a limit to how much I can move from my n26 account to my b.o.i account?



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    #3646
    Q&A
    Registered Users Posts: 555 ✭✭✭Q&A


    No limit on SEPA transfers.

    https://support.n26.com/en-eu/payments-transfers-and-withdrawals/balance-and-limits/what-is-the-maximum-i-can-spend?s_id=175272196



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    #3647
    Yggr of Asgard
    Registered Users Posts: 5,158 ✭✭✭Yggr of Asgard


    Just remember that if you withdraw more than €12,500 you are required to notify the German Central Bank.



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    #3648
    blade1
    Registered Users Posts: 12,161 ✭✭✭✭blade1


    https://www.boards.ie/discussion/comment/119849902#Comment_119849902

    Said I'd chance it yesterday evening.

    Was sweating as it was a large amount but it appeared in my boi account between 9 and 10am this morning.



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    #3649
    blade1
    Registered Users Posts: 12,161 ✭✭✭✭blade1


    https://www.boards.ie/discussion/comment/119851150#Comment_119851150

    Sorry only seen this now.

    I transferred way more than that.

    So what happens next? 😬



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    #3650
    Yggr of Asgard
    Registered Users Posts: 5,158 ✭✭✭Yggr of Asgard


    https://www.boards.ie/discussion/comment/119861918#Comment_119861918

    Once you get your account statement from N26 check if there is either a warning AWV-MELDEPFLICHT BEACHTEN HOTLINE BUNDESBANK: (0800) 1234-111 or any other remark on the payment.

    It's gets a little confusing if you are not a German Resident and beside having a German Bank account you don't have any other relation to Germany (like income or residency).

    I would consult your financial advsior/accountant to get a final answer if you have to report transfers between your own accounts or contact N26 and ask them what their advice it.



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    #3651
    blade1
    Registered Users Posts: 12,161 ✭✭✭✭blade1


    https://www.boards.ie/discussion/comment/119862326#Comment_119862326

    Thank you

    Got onto n26 on chat.

    All they said was I'd need to contact a tax agency about the specific laws in each country.

    There's a statement up to yesterday available on the n26 app. No mention of anything out of the way on that yet anyway.



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    #3652
    Sheep Shagger
    Moderators, Business & Finance Moderators Posts: 6,249 Mod ✭✭✭✭Sheep Shagger


    https://www.boards.ie/discussion/comment/119392219#Comment_119392219

    Try someone else in your employer, is it just too hard for whoever you dealt with first. I was first told it wasn't then suddenly it was fine.

    Had n26 as main bank for 2 years- no issues.



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    #3653
    Anjunadeep
    Registered Users Posts: 221 ✭✭Anjunadeep


    Hi all,

    Is it possible to use N26 for Virgin Media direct debit?

    How do i go about it? I notice online it demands an IE iban..


    thanks



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    #3654
    FaganJr
    Registered Users Posts: 569 ✭✭✭FaganJr


    https://www.boards.ie/discussion/comment/119900642#Comment_119900642

    Yeah I have Virgin Media, just phone them up, cant do it online



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    #3655
    Yggr of Asgard
    Registered Users Posts: 5,158 ✭✭✭Yggr of Asgard


    If you are still a customer of N26 you might find a mail in your inbox asking you to validate your personal information (name/address) and additional KYC data points (income, source of funds, name of employer etc.).

    As part of their cleanup activity ordered by the German regulator, they are asking large sets of customers to validate their data again, in some cases with documentation.

    You will also be prompted to do so in App. You need to do the validation in the app or via a web interface.

    For some older customers you might get asked to provide the 10-digit number from the old cards and you might also get asked to upload your passport and proof of address (not older than 6 month).

    Deadline seems to be mid-april after which you will no longer be able to use the account if you don't provide the info.

    I'm sure shortly scammers will try to cash in onto that wave of validation requests with phishing mails so be careful.



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    #3656
    wassie
    Registered Users Posts: 3,310 ✭✭✭wassie


    Hate to say it, but if I get that request I'll probably drop the N26 in favour of the Revolut. I've always preferred the N26's cleaner app vs Revolut app which I find to be spammy.

    But the biggest thing for me going back a few years was that N26 had a web app and Revolut didnt, as I found using it easier to get statements and do certain transfers/payments whilst I was working away on PC.

    However Revolut have a web app now, plus instant transfers are still free from my other accounts and soon they will have an Irish IBAN, so hard to justify going through messing around with N26 any more, especially if payments/transfers get flagged as suspicious and delayed.



  • Options
    #3657
    Yggr of Asgard
    Registered Users Posts: 5,158 ✭✭✭Yggr of Asgard


    Revolut Bank should ask you the same question as they are basic KYC questions, it's just that N26 in the past did not have a very good KYC, which is why they were in trouble with the BAFIN (German Regulator) and even had a special supervisor appointed.

    Them asking you should not be a reason to drop them, in fact it might be better do this once and continue to use them rather than the way Revolut sometimes freezes the account when you try to make withdraws for example.



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    #3658
    Nickindublin
    Registered Users Posts: 613 ✭✭✭Nickindublin


    https://www.boards.ie/discussion/comment/120352780#Comment_120352780

    I agree with you and i think i filled it up ages ago with N26. The N26 app is far cleaner than Revolut IMO. The only reason i would swithch is Joint accounts and irish Ibans if i was to go 100% with a digital bank. Maybe these features will come to N26 in the future.



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    #3659
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,043 Mod ✭✭✭✭Jim2007


    https://www.boards.ie/discussion/comment/119862326#Comment_119862326

    That is just a standard remark added by German banks. It does not mean any action is required.


    https://www.boards.ie/discussion/comment/119862519#Comment_119862519

    Reading through their FAQ, I very much doubt your transaction falls into the reporting requirements.

    https://www.bundesbank.de/resource/blob/611818/91551718a7066e282189b917027a4b8b/mL/faqs-zur-awv-zahlungsmeldungen-data.pdf



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    #3660
    shanmo
    Registered Users Posts: 365 ✭✭shanmo


    Hi all,

    Hoping someone might be able to put my mind at rest. How long does it typically take for a refund to show in the app if you've tapped to receive it?


    Thanks



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    #3661
    wassie
    Registered Users Posts: 3,310 ✭✭✭wassie


    Probably depends on the merchants payment processor - not neccesarly anthing to do with N26



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