Number26/N26 Mastercard/Account now for Irish Residents

Bob24

ED E wrote: »

Fingerprint readers still broken. No reply from N26. Even BOI write back.

If you want a written answer go for online chat. In my experience they don't answer emails and only reply on Twitter if the answer makes them look good (I do think they read though, as the statistics page was pulled and marked as being under maintenance shortly after I tweeted to them that it didn't seem to work - but they didn't answer my tweet and after a few weeks it still is under maintenance).

ED E

Cheers, ill give that a shot later.

marc1

I have been using N26 for well over a year now. I transfer spending money in from my Ulster bank account the day I get paid. The experience has been quite positive. I travel all the time for work (in and outside the EU) and the slik looking N26 card has become a trusty companion and helped me even when the corporate Visa card and my Ulsterbank Credit Card have failed (Kuwait in general was difficult and automated US petrol stations are two examples). The app is great, the spend analysis useful.

I do have one exception: their customer service response times. I sent them two emails in the last year and a bit. The first one got answered after 2 months, the second one I am still waiting for an answer 3 months later. Has anyone a better experience here?

Another question: I am still reluctant to switch my wages over to them as I might be applying for a mortgage soon and I buy cars on PCP... which all need bank statements to get processed. Had anyone had experience providing N26 statements when applying for credit?

Bob24

marc1 wrote: »

Another question: I am still reluctant to switch my wages over to them as I might be applying for a mortgage soon and I buy cars on PCP... which all need bank statements to get processed. Had anyone had experience providing N26 statements when applying for credit?

Good question. In theory I don't see why an Irish bank shouldn't accept N26 statements for a mortgage application (and I know for certain they don't discard statements from foreign banks as a matter of principle), but it would be good to hear a confirmation.

listermint

marc1 wrote: »

I have been using N26 for well over a year now. I transfer spending money in from my Ulster bank account the day I get paid. The experience has been quite positive. I travel all the time for work (in and outside the EU) and the slik looking N26 card has become a trusty companion and helped me even when the corporate Visa card and my Ulsterbank Credit Card have failed (Kuwait in general was difficult and automated US petrol stations are two examples). The app is great, the spend analysis useful.

I do have one exception: their customer service response times. I sent them two emails in the last year and a bit. The first one got answered after 2 months, the second one I am still waiting for an answer 3 months later. Has anyone a better experience here?

Another question: I am still reluctant to switch my wages over to them as I might be applying for a mortgage soon and I buy cars on PCP... which all need bank statements to get processed. Had anyone had experience providing N26 statements when applying for credit?

If im being critical, I think this sort of tech banking is too new in the market for traditional mortgage banks to facilitate an easy mortgage application.

As an aside alot of lenders will want you to transfer current accounts to them to either get the best rates or process a favourable application (can be changed afterwards obviously) but tbh it would not be worth the hastle if applying for a mortgage, the less blockers the better

marc1

Yeah, that's what I was thinking. Probably the best move to keep the Ulster Bank account for the time being.

But I would be interested in hearing from anyone that has tried applying for a mortgage!

fbradyirl

marc1 wrote: »

Yeah, that's what I was thinking. Probably the best move to keep the Ulster Bank account for the time being.

But I would be interested in hearing from anyone that has tried applying for a mortgage!

I just got a KBC credit card and they accepted my N26 statements without question. No problem there. I use N26 as my main account.

Bob24

Since a few of us are wondering about this, I have posted the mortgage question here on the Ask AIB forum. Lets see what AIB's customer service answers.

Abominable JoMan

I'll be travelling abroad in the near future and it'll be my first time to use N26 as I do so, just wondering is there anywhere that you have to notify them that you will be using your card in a different country? Just I know that every time before I go abroad with AIB I always notify them so that I don't have to deal with the hassle of my card being blocked while I'm out of the country.

marc1

I have never notified them and I trace all the time with work. Worked fine all over he EU, the US and the Middle East.

Abominable JoMan

Brilliant, cheers thanks!

Dewdropdeb

I'm trying to open an account but can't get past the address field. Have a country address, no street or house number, just an area.
It won't let me use any combination. Have eircode but that isn't working either. Any ideas!?

Explosive_Cornflake

Try the desktop site as opposed to the mobile one. It tries to be too smart and fails.

Dewdropdeb wrote: »

I'm trying to open an account but can't get past the address field. Have a country address, no street or house number, just an area.
It won't let me use any combination. Have eircode but that isn't working either. Any ideas!?

Fred Swanson

This post has been deleted.

Zagato

Abominable JoMan wrote: »

I'll be travelling abroad in the near future and it'll be my first time to use N26 as I do so, just wondering is there anywhere that you have to notify them that you will be using your card in a different country? Just I know that every time before I go abroad with AIB I always notify them so that I don't have to deal with the hassle of my card being blocked while I'm out of the country.

I'd guess that as a fintech company, it will check if your phone is in same country as your card is used. App has location permission access on Android at least. There is also a setting in the app to switch on/off payments abroad with the card.

Kennek1

Is there charges for transferring Money from my Irish account to N26 account?

yrrag1974

Fred Swanson wrote: »

This post has been deleted.

I had the same problems and eventually just put in an address that worked - ended up being 1 Henry St, Dublin 1 :-0 Then, after my ID was validated, I changed my delivery address on the app to my normal address.

I called their Customer Care to change my "legal" address, as they call it, but they said there was no need as the only address that is ever used is my shipping address. Having said all that the card was only dispatched yesterday so haven't received it yet. Customer Care rep assured me it was sent to my dispatch address as opposed to my legal address.

Bob24

Kennek1 wrote: »

Is there charges for transferring Money from my Irish account to N26 account?

No as long as your bank doesn't charge fees for transactions within Ireland. Banks can't charge more for any euro to euro SEPA credit transfer than they charge for national ones.

Savman

N26 on par with Revolut for sterling conversion, even marginally cheaper.

I placed on order on Amazon today for approx £42.98 and got the following:

N26 €50.58
Revolut €50.83

Bob24

Btw the way - silly question which just came to my mind: I know some countries have requirements to disclose any bank account held in a foreign country to national tax authorities. Is this the case for Ireland? And since N26 is in Germany has anyone notified Revenue about their account and what is the process?

Bob24

Savman wrote: »

N26 on par with Revolut for sterling conversion, even marginally cheaper.

I placed on order on Amazon today for approx £42.98 and got the following:

N26 €50.58
Revolut €50.83

For reference, my understanding is that the amount listed by N26 just after the purchase is an estimate and can be amended by the time the transaction is cleared, so you might want to have a look again in a day or 2 to get the final amount. But in any case yes they're pretty good.

Yggr of Asgard

Bob24 wrote: »

Btw the way - silly question which just came to my mind: I know some countries have requirements to disclose any bank account held in a foreign country to national tax authorities. Is this the case for Ireland? And since N26 is in Germany has anyone notified Revenue about their account and what is the process?

N26 will report the account to Revenue as part of the OECD CRS, however Ireland should only get reports after September 2017.

As to your tax affairs, best consult an accountant or revenue directly about your requirement to report your bank account in your tax return.

Amouar

Do you guys know if there is any commitment period for N26 Black? I only need it for a month when I will be traveling, and don't want to pay the 1 year subscription for just one month.

nsa0bupkd3948x

Amouar wrote: »

Do you guys know if there is any commitment period for N26 Black? I only need it for a month when I will be traveling, and don't want to pay the 1 year subscription for just one month.

It is 12 months and you pay monthly.

Amouar

Bristol Helpless Stapler wrote: »

It is 12 months and you pay monthly.

Do we get to keep the normal 26 card too when we order the black, or only one can be active at a time?

nsa0bupkd3948x

Amouar wrote: »

Do we get to keep the normal 26 card too when we order the black, or only one can be active at a time?

Only one can be active at a time. Once your normal one is deactivated it can never be reactivated. Was hoping I could keep it as a 'spare' card but no.

Amouar

Bristol Helpless Stapler wrote: »

Only one can be active at a time. Once your normal one is deactivated it can never be reactivated. Was hoping I could keep it as a 'spare' card but no.

So basically, once I order the black card , I will lose my currently free N26 card. And when I decide to cancel the black card after a year, I will have to pay the monthly fee (2.5euros i think) for the n26 normal card. Right?

nsa0bupkd3948x

Amouar wrote: »

So basically, once I order the black card , I will lose my currently free N26 card. And when I decide to cancel the black card after a year, I will have to pay the monthly fee (2.5euros i think) for the n26 normal card. Right?

Just asked them now and they said "cannot tell me know as conditions may change in the year"

JTMan

Bob24 wrote: »

Btw the way - silly question which just came to my mind: I know some countries have requirements to disclose any bank account held in a foreign country to national tax authorities. Is this the case for Ireland? And since N26 is in Germany has anyone notified Revenue about their account and what is the process?

The most important obligation is to declare interest earned on foreign bank accounts. This is non applicable, for now at least, because N26 do not pay interest. On the Revenue tax returns there is also a section asking you to list foreign bank accounts that you hold. However, whilst the section should be completed accurately, if you do not have a tax obligation due to no interest then I would think that you have little to be concerned about.

Fred Swanson

This post has been deleted.

Bob24

JTMan wrote: »

The most important obligation is to declare interest earned on foreign bank accounts. This is non applicable, for now at least, because N26 do not pay interest. On the Revenue tax returns there is also a section asking you to list foreign bank accounts that you hold. However, whilst the section should be completed accurately, if you do not have a tax obligation due to no interest then I would think that you have little to be concerned about.

Cheers, that is what I thought and I have nothing to hide from Revenue ... I wanted to make sure I won't to be considered a tax evader or something like that because I didn't report the account (I have never competed a tax return as all my income has always been through PAYE). So if N26 introduces savings account and pays interest, there will be a requirement to fill-out a yearly tax return to declare those? (and I assume they won't charge whatever German equivalent of DIRT might exist as long as the account holder is not residing in Germany?)

Yggr of Asgard

Bob24 wrote: »

Cheers, that is what I thought and I have nothing to hide from Revenue ... I wanted to make sure I won't to be considered a tax evader or something like that because I didn't report the account (I have never competed a tax return as all my income has always been through PAYE). So if N26 introduces savings account and pays interest, there will be a requirement to fill-out a yearly tax return to declare those? (and I assume they won't charge whatever German equivalent of DIRT might exist as long as the account holder is not residing in Germany?)

They will charge you Abgeltungssteuer (DIRT equivalent) and Solidaritaetszuschlag (special tax to rebuild the east) unless you give them a Freistellungsauftrag (order not to deduct taxes), but you can't do that unless you have a German Tax ID (which you can't get easy). So you will pay this direct tax on the interest you earn.

But paying that tax does not change your tax obligation in Ireland as the tax might be lower than you would pay on DIRT, however Revenue will take the tax you paid in Germany into account. You will have to fill out a tax return in that case.

Also the Bundeszentralamt fuer Steuern (Central Authority for Taxes) will report any taxes paid to Revenue as part of the EU agreements.

And again, I would not take the word of boards in respect of declaring even a non interest earning account with revenue. I would consult a tax professional or ask Revenue. There are quite drastic consequences as of May if you have a foreign account and revenue thinks you have not paid all the taxes you should.

As long as you tax the money you get onto the N26 account there should not be an issue, but I would ask someone competent about it.

Yggr of Asgard

Fred Swanson wrote: »

This post has been deleted.

You can find all details here: http://www.oecd.org/tax/automatic-exchange/common-reporting-standard/

However in short what is reported is:

• the name, address, Taxpayer Identification Number and date and place of birth of each Reportable Person.
• the account number
• the name and identifying number of the Reporting Financial Institution;
• the account balance or value as of the end of the relevant calendar or, if the account was closed during such year or period, the closure of the account

But that is the standard reporting, if Revenue has reason to suspect you, they can ask the Bundeszentralamt fuer Steuern (Central Authority for Taxes) for help.

marc1

Yggr of Asgard wrote: »

They will charge you Abgeltungssteuer (DIRT equivalent) and Solidaritaetszuschlag (special tax to rebuild the east) unless you give them a Freistellungsauftrag (order not to deduct taxes), but you can't do that unless you have a German Tax ID (which you can't get easy). So you will pay this direct tax on the interest you earn.

But paying that tax does not change your tax obligation in Ireland as the tax might be lower than you would pay on DIRT, however Revenue will take the tax you paid in Germany into account. You will have to fill out a tax return in that case.

Also the Bundeszentralamt fuer Steuern (Central Authority for Taxes) will report any taxes paid to Revenue as part of the EU agreements.

And again, I would not take the word of boards in respect of declaring even a non interest earning account with revenue. I would consult a tax professional or ask Revenue. There are quite drastic consequences as of May if you have a foreign account and revenue thinks you have not paid all the taxes you should.

As long as you tax the money you get onto the N26 account there should not be an issue, but I would ask someone competent about it.

We will have to wait for the savings accounts to be launched to confirm, but I am pretty sure they will have to charge the normal Irish taxes - DIRT, etc... and not the German taxes. Exactly the way they charge the 5 Euro for the debit cards.

cgarvey

Anyone else with contactless issues in Tesco (have validated at ATM in advance, and successfully used contactless on the card elsewhere)?

Quackster

cgarvey wrote: »

Anyone else with contactless issues in Tesco (have validated at ATM in advance, and successfully used contactless on the card elsewhere)?

Tesco has, at least up until recently, had patchy contactless acceptance. Although Dublin stores have had it for quite some time, my local store only had it enabled a few weeks ago. It's possible the store you tried it in still doesn't take contactless payments.

JTMan

Yggr of Asgard wrote: »

They will charge you Abgeltungssteuer (DIRT equivalent) and Solidaritaetszuschlag (special tax to rebuild the east) unless you give them a Freistellungsauftrag (order not to deduct taxes), but you can't do that unless you have a German Tax ID (which you can't get easy). So you will pay this direct tax on the interest you earn.

But paying that tax does not change your tax obligation in Ireland as the tax might be lower than you would pay on DIRT, however Revenue will take the tax you paid in Germany into account. You will have to fill out a tax return in that case.

Also the Bundeszentralamt fuer Steuern (Central Authority for Taxes) will report any taxes paid to Revenue as part of the EU agreements.

Good advise. Worth pointing out that there is speculation that N26 will resell deposit products for other banks. If that happens then tax deduction at source for deposit interest will depend on the country of the bank that has the deposits and not Germany tax. For example, Raisin, when they operated here, were a Germany operator, but resold deposits from countries such as Poland. The deposit interest tax applied with the Polish resold products was Polish withholding tax at a reduced rate provided you proved that you were non resident. As you indicated, Revenue offered a tax deduction for the Polish tax already incurred.

Yggr of Asgard wrote: »

I would not take the word of boards in respect of declaring even a non interest earning account with revenue. I would consult a tax professional or ask Revenue. There are quite drastic consequences as of May if you have a foreign account and revenue thinks you have not paid all the taxes you should.

As long as you tax the money you get onto the N26 account there should not be an issue, but I would ask someone competent about it.

I appreciate your sentiment that one should fact check advise got online. That said, I am not wrong that you need to declare foreign bank accounts to the Revenue. This is a required disclosure* **. That said, provided there is no tax liability, I would be surprised if anyone has any issues with non disclosure.

* See disclosure 320 on page 17 of form E11 from the Revenue here.
** ""Generally, individuals are aware of their responsibilities when opening foreign bank accounts," said a Revenue spokeswoman. "In addition to the obligation on the account holder to report the opening of such accounts". From here.

Bob24

JTMan wrote: »

Worth pointing out that there is speculation that N26 will resell deposit products for other banks.

For what it is worth (probably not much), their current iOS App does seem to indicate they are probably planning their own savings account. If you look at the app widget it displays 3 values: current balance, available for transfer, and savings account. In my view, it would be bit strange it that last one was there to display the sum of several potential deposit products from other banks (raisin type of thing). A widget like this would seem more appropriate for a flexible savings account directly linked to the N26 current account.

Bob24

Bristol Helpless Stapler wrote: »

Received two emails today.

First one said from Leap Card said.



I replied asking how to set it up and haven't heard back.

The second one was from the Nationaltransport.ie



I haven't decided on my response yet. Even if they can't guarantee I'll see the code I'd like them to try as I'd be very confident I could see it..

I'm curious ... did you get anywhere with them or did their deflecting techniques and refusals to answer get you to give up? (I wouldn't blame you, they are very good at it!)

nsa0bupkd3948x

Bob24 wrote: »

I'm curious ... did you get anywhere with them to did their deflecting techniques and refusals to answer get you to give up? (I wouldn't blame you, they are very good at it!)

Sent another email there yesterday after a few days of silence. Cc'ed in the Central Bank, CPCC, Leap Card, Transport for Ireland and Shane Ross's office.

Bob24

Good stuff ... keep us posted!

soirish

Customers​ with primary delivery address outside Germany: 5 free ATM withdrawals per calendar month, 2.00 € per additional withdrawal

Mastercard withdrawals at ATMs in other currencies:
For N26 Black users - Free
For Business and Current Account 1.7% of amount drawn

Changes to N26 Terms & Conditions

bertie4evr

soirish wrote: »

Changes to N26 Terms & Conditions

I saw that this morning, noticed that Ireland isn't included in the Free Mastercard section.

ahbell

I received email this morning as well, but I thought they had already changed the Ts&Cs to limit free withdrawals to 5 per month?

soirish

bertie4evr wrote: »

soirish wrote: »

Changes to N26 Terms & Conditions

I saw that this morning, noticed that Ireland isn't included in the Free Mastercard section.

So how much is it?

Sneachta

https://support.n26.com/read/000001264?locale=en&utm_source=crm&utm_medium=systemmail&utm_campaign=tc_change_en

I don't get it. I thougth the pre November deal was for free banking? Am I missing something?

bertie4evr

soirish wrote: »

So how much is it?

€2.90 per month

TireeTerror

Slowly but surely starting to introduce costs and making this "free banking" not so free at all. It is hard to keep up with the constant changes, especially changes like this which were the principal reason for joining them in the first place.

pasquale83

TireeTerror wrote: »

Slowly but surely starting to introduce costs and making this "free banking" not so free at all. It is hard to keep up with the constant changes, especially changes like this which were the principal reason for joining them in the first place.

But those changes are only for new customers, aren't they?

bertie4evr

pasquale83 wrote: »

But those changes are only for new customers, aren't they?

For now at least. Can't see them keeping original customers grandfathered into free banking forever.