Number26/N26 Mastercard/Account now for Irish Residents

bennyx_o

jester77 wrote: »

Just go an email that they are closing down their insurance product from Sept. 11. That sucks, was nice having them in the app.

The Allianz insurance on the likes of N26 You?

jester77

bennyx_o wrote: »

The Allianz insurance on the likes of N26 You?

I presume that stays, they just offered a link to migrate directly to the broker and there will no longer be a product in the app for insurance and that you now have to deal directly with the broker.

loyatemu

IQO wrote: »

Made a transfer from Revolut to N26 today, it was approved on the Revolut's side within seconds and credited to N26 immediately, got the notification instantly. Haven't seen this happening this fast before.

I was trying to go the other way and it's just hanging waiting for authorisation from the N26 app, but the app never prompts me to authorise it even though i can see the transaction pending in both apps

Rock Paper Scissors

I made 2 large transfers from my n26 bank totalling €10k to a car dealership, one on wednesday and one on thursday, neither have arrived into the car dealerships bank account yet.

Normally my n26 transfers only take a few hours.

Im kinda starting to panic

user1842

Rock Paper Scissors wrote: »

I made 2 large transfers from my n26 bank totalling €10k to a car dealership, one on wednesday and one on thursday, neither have arrived into the car dealerships bank account yet.

Normally my n26 transfers only take a few hours.

Im kinda starting to panic

If the payments were made before the bank's payment cut-off time (not sure what the N26 cut-off time is but for most banks it is between 16:00 and 17:00) then your Wednesday payment should have legally been available to the recipient on Thursday and your Thursday payment should have legally been available to the recipient by Friday.

The payments may have been pinged for CTF/AML. If the recipient still has not received them, then contact N26.

The above is under the assumption that you are paying to a EUR account in the Republic of Ireland.

Rock Paper Scissors

user1842 wrote: »

If the payments were made before the bank's payment cut-off time (not sure what the N26 cut-off time is but for most banks it is between 16:00 and 17:00) then your Wednesday payment should have legally been available to the recipient on Thursday and your Thursday payment should have legally been available to the recipient by Friday.

The payments may have been pinged for CTF/AML. If the recipient still has not received them then contact N26.

The above is under the assumption that you are paying to a EUR account in the Republic of Ireland.

Yes i contacted N26 who will begin an "investigation" tomorrow but they are gonna charge me €15 for it which is kinda annoying.

I never thought of AML.

Does this genetally slow a transfer down?

user1842

Rock Paper Scissors wrote: »

Yes i contacted N26 who will begin an "investigation" tomorrow but they are gonna charge me €15 for it which is kinda annoying.

I never thought of AML.

Does this genetally slow a transfer down?

If they need to check the payment, then I think so. I have no experience of this though.

Bummer1234

Rock Paper Scissors wrote: »

Yes i contacted N26 who will begin an "investigation" tomorrow but they are gonna charge me €15 for it which is kinda annoying.

Sorry if a silly question but why are they charging €15?

Rock Paper Scissors

Bummer1234 wrote: »

Sorry if a silly question but why are they charging €15?

They told me that that's the fee to initiate an investigation

Credit Checker Moose

That's bullcrap on N26's side.

Rock Paper Scissors

Credit Checker Moose wrote: »

That's bullcrap on N26's side.

It absolutely is

Yggr of Asgard

Credit Checker Moose wrote: »

That's bullcrap on N26's side.

Well as a customer you have accepted the T&C which call out that an investigation request is charged 15€ when the customer initiates the investigation. You are also liable for any third-party fees from other banks that provide N26 with an answer to your inquiry.

It might be a rip-off but at least it's in their T&C and the pricelist.

Yggr of Asgard

Rock Paper Scissors wrote: »

I made 2 large transfers from my n26 bank totalling €10k to a car dealership, one on wednesday and one on thursday, neither have arrived into the car dealerships bank account yet.

Normally my n26 transfers only take a few hours.

Im kinda starting to panic

Assuming you provided the correct IBAN than the payments should have been credited to the dealership's accounts by now, even if they are using an Irish Bank.

Now if both payments were together under 12.500€ than there is no requirement to report them to the Bundesbank and even if you were over that amount the payment only needs to be reported within 7 days it should not stop the payment.

If N26 had a problem with the payment (fraud protection or suspicion that you are engaging in illegal or suspicious behavior) they would not have executed the transfers and informed you accordingly. So, if the transfers show as processed and your available and consolidated balance shows the amounts gone, then there most likely is a problem at the receiver's end.

It could be that the receiving bank has flagged the transfer for review driven by for example the fact that you did split it into two transactions.

Or it might be that the dealership has the funds, but the reference is missing so they don't know it's yours.

But first point is to triple check that you have the right IBAN, then get written confirmation from the dealership that they did not receive the money and then query it with N26.

You are going to have to pay the 15€ fee but if the problem came down to them (i.e. they messed the transfer up) than the fee will not be charged.

If you messed up (wrong IBAN) or the receiver messed up than the fee is yours to pay.

Rock Paper Scissors

Yggr of Asgard wrote: »

Assuming you provided the correct IBAN than the payments should have been credited to the dealership's accounts by now, even if they are using an Irish Bank.

Now if both payments were together under 12.500€ than there is no requirement to report them to the Bundesbank and even if you were over that amount the payment only needs to be reported within 7 days it should not stop the payment.

If N26 had a problem with the payment (fraud protection or suspicion that you are engaging in illegal or suspicious behavior) they would not have executed the transfers and informed you accordingly. So, if the transfers show as processed and your available and consolidated balance shows the amounts gone, then there most likely is a problem at the receiver's end.

It could be that the receiving bank has flagged the transfer for review driven by for example the fact that you did split it into two transactions.

Or it might be that the dealership has the funds, but the reference is missing so they don't know it's yours.

But first point is to triple check that you have the right IBAN, then get written confirmation from the dealership that they did not receive the money and then query it with N26.

You are going to have to pay the 15€ fee but if the problem came down to them (i.e. they messed the transfer up) than the fee will not be charged.

If you messed up (wrong IBAN) or the receiver messed up than the fee is yours to pay.

Thank you for your reply, much appreciated.

The IBAN has been triple checked and is correct.

I just spoke to the dealer.

When i bought the car, he gave me the IBAN details and told me to send payment to "xxx autos"

But when i called and asked him what is the exact name on his business account, he told me it is "ABC motors T/A xxx autos"

So maybe the payment never arrived because of this?

Yggr of Asgard

Rock Paper Scissors wrote: »

But when i called and asked him what is the exact name on his business account, he told me it is "ABC motors T/A xxx autos"

So maybe the payment never arrived because of this?

That would depend on the country of the bank account and their local bank.

Some countries have an online check to see if beneficiary name and IBAN match (Netherlands for example) but in most cases it's the IBAN which is what is defining it.

You cannot be the only one that uses his T/A only so I would assume his bank will accept payments in the T/A name too.

And even if his bank would refuse the credit it should be back into your account by now.

As the money is gone out of your account you cannot recall it now, so an investigation is the only way out of this.

But I am more suspicious of the dealer here than N26. Don't get me wrong N26 is a bunch of cowboys but to mess up two transfers to the same receiver is strange.

It will not take N26 that long to get you answer (again depending in which country the receiver is).

I hope this gets sorted out for you.

Rock Paper Scissors

Yggr of Asgard wrote: »

That would depend on the country of the bank account and their local bank.

Some countries have an online check to see if beneficiary name and IBAN match (Netherlands for example) but in most cases it's the IBAN which is what is defining it.

You cannot be the only one that uses his T/A only so I would assume his bank will accept payments in the T/A name too.

And even if his bank would refuse the credit it should be back into your account by now.

As the money is gone out of your account you cannot recall it now, so an investigation is the only way out of this.

But I am more suspicious of the dealer here than N26. Don't get me wrong N26 is a bunch of cowboys but to mess up two transfers to the same receiver is strange.

It will not take N26 that long to get you answer (again depending in which country the receiver is).

I hope this gets sorted out for you.

Just had a text off the dealer 2 mins ago.

He received the 1st transfer, phewww

Took a long time to arrive.

Thanks for your replies mate

You are a credit to this forum

Yggr of Asgard

Rock Paper Scissors wrote: »

Just had a text off the dealer 2 mins ago.

He received the 1st transfer, phewww

Took a long time to arrive.

Thanks for your replies mate

You are a credit to this forum

I'm glad it got sorted, the dealer might want to consider swapping to a different bank because them taking days to credit a SEPA transfer is against the law.

Hope the second payment than comes tomorrow.

Enjoy your new car.

Rock Paper Scissors

Yggr of Asgard wrote: »

I'm glad it got sorted, the dealer might want to consider swapping to a different bank because them taking days to credit a SEPA transfer is against the law.

Hope the second payment than comes tomorrow.

Enjoy your new car.

Thanks, always appreciate your input

The dealers bank is BOI

blade1

Can someone please tell me if I can withdraw €2000 out of my n26 account at a boi ATM?
If not what is the limit?

Yggr of Asgard

blade1 wrote: »

Can someone please tell me if I can withdraw €2000 out of my n26 account at a boi ATM?
If not what is the limit?

If you have not defined other limits in the app than you can withdraw up to 2500€ daily in cash.

Most ATMs will not allow you to do this in one go, so you will need to make more than one transaction.

Most ATM do 700 limit but there are in branch ATMs that do as far as I remember up to 1500€.

Check your ATM limits in the app before you go and you should be fine but will need multiple transactions.

Also the same ATM might deny you multiple transactions so you might need to visit more than one.

However withdrawing and carrying that much cash is a risk, better see if you can not use other mechanisms.

bennyx_o

blade1 wrote: »

Can someone please tell me if I can withdraw €2000 out of my n26 account at a boi ATM?
If not what is the limit?

It was a few years ago, but I took €2,500 from an Ulster Bank ATM

Bob24

Yggr of Asgard wrote: »

I'm glad it got sorted, the dealer might want to consider swapping to a different bank because them taking days to credit a SEPA transfer is against the law.

I’m not defending Irish banks here (not a fan of them either), but to be fair blaming the delay on the recipients bank with certainty is jumping gun here.

It could also be that N26’s automated fraud detection system took offence with 2 unusually large transfers to the same IBAN in a short timeframe and flagged those for some kind of manual review on their end before the credit transfer is actually sent to the receiver bank.

Not with N26, but that exact scenario happened to me with another bank before whereby the transfer was confirmed by my bank’s App and the money was gone from my account, but it turned out later that the it was on hold for validation by their fraud prevention team and it took a few additional days to arrive.

blade1

Yggr of Asgard wrote: »

If you have not defined other limits in the app than you can withdraw up to 2500€ daily in cash.

Most ATMs will not allow you to do this in one go, so you will need to make more than one transaction.

Most ATM do 700 limit but there are in branch ATMs that do as far as I remember up to 1500€.

Check your ATM limits in the app before you go and you should be fine but will need multiple transactions.

Also the same ATM might deny you multiple transactions so you might need to visit more than one.

However withdrawing and carrying that much cash is a risk, better see if you can not use other mechanisms.

bennyx_o wrote: »

It was a few years ago, but I took €2,500 from an Ulster Bank ATM

Thanks lads, the ATM inside the bank paid out 2k in the one go.

Bummer1234

Bob24 wrote: »

I’m not defending Irish banks here (not a fan of them either), but to be fair blaming the delay on the recipients bank with certainty is jumping gun here.

It could also be that N26’s automated fraud detection system took offence with 2 unusually large transfers to the same IBAN in a short timeframe and flagged those for some kind of manual review on their end before the credit transfer is actually sent to the receiver bank.

Not with N26, but that exact scenario happened to me with another bank before whereby the transfer was confirmed by my bank’s App and the money was gone from my account, but it turned out later that the it was on hold for validation by their fraud prevention team and it took a few additional days to arrive.

Im sure BOI and N26 systems seem to be polar opposites, A friend sent me money from his BOI account say on wednesday and i didn't get it in my account until tuesday after, Shocking slow.....Must be the same the other way from n26 to BOI.

Yggr of Asgard

Bob24 wrote: »

I’m not defending Irish banks here (not a fan of them either)...

If the OP looks at his account statement he will see the booking and value date. Unless there is a significant gap between them than N26 did execute the transfer.

BOI is known to have issues with international transfers and very strict cut off time for transfers both inbound and outbound.

Even if there was a manual review by N26 the time it took is still way to long for it to reach the receiver.

Yggr of Asgard

blade1 wrote: »

Thanks lads, the ATM inside the bank paid out 2k in the one go.

Should I ever need that amount of cash that is handy to know. Thanks

blade1

Yggr of Asgard wrote: »

Should I ever need that amount of cash that is handy to know. Thanks

Thank you, as I assumed the limit was 700.
And now while I think of it, I must put back down my card limit.

Sheep Shagger

Not sure how new this but the National Lottery app now says it accepts N26 and Revolut cards for topups.

dumb_parade

Sheep Shagger wrote: »

Not sure how new this but the National Lottery app now says it accepts N26 and Revolut cards for topups.

About time. I logged a complaint with them last October after they accepted my change over to using N26 as my payment card. The website then refused to allow me to use the card to top up my account. This, I was later informed was because the N26 card was not issued by an Irish financial institution as required under section 2(a)(i)(iv) of our Terms and Conditions (which would have been accepted upon registration).

This was compounded by the fact that they only allow changes to the payment card once per month, leaving my lottery account unusable for the duration. And I haven't used it since

ED E

Kinda want my bank to be a bank and not be busy trying to sell me Adidas...

Sheep Shagger

ED E wrote: »

Kinda want my bank to be a bank and not be busy trying to sell me Adidas...

Ignore it then, it's a benefit for those who want it.

blade1

How's Google pay using phone at terminals going for everyone else?
Mine says card type not supported most times.
Google said get onto N26 to delete old tokens and remove card and add again on Google pay.
Done that but still very hit and miss.


Also, could someone tell me if someone buys something off me using PayPal, can it then transfer into my N26 account?

The J Stands for Jay

blade1 wrote: »

Also, could someone tell me if someone buys something off me using PayPal, can it then transfer into my N26 account?

I have N26 set as my bank account in Paypal, so my withdrawals are sent there.

user1842

blade1 wrote: »

How's Google pay using phone at terminals going for everyone else?
Mine says card type not supported most times.
Google said get onto N26 to delete old tokens and remove card and add again on Google pay.
Done that but still very hit and miss.


Also, could someone tell me if someone buys something off me using PayPal, can it then transfer into my N26 account?

Google pay at the POS works perfectly for me. Never had an issue with it.

bennyx_o

blade1 wrote: »

How's Google pay using phone at terminals going for everyone else?
Mine says card type not supported most times.
Google said get onto N26 to delete old tokens and remove card and add again on Google pay.
Done that but still very hit and miss.


Also, could someone tell me if someone buys something off me using PayPal, can it then transfer into my N26 account?

Someone on here a good while ago was having issues with Google Pay and IIRC it turned out to be an issue with their card itself. Can't search too well on mobile but will look later when I'm home

blade1

bennyx_o wrote: »

Someone on here a good while ago was having issues with Google Pay and IIRC it turned out to be an issue with their card itself. Can't search too well on mobile but will look later when I'm home

Card is working fine though.
That's what I've had to use instead of phone when it happens.

advertsfox

blade1 wrote: »

How's Google pay using phone at terminals going for everyone else?
Mine says card type not supported most times.
Google said get onto N26 to delete old tokens and remove card and add again on Google pay.
Done that but still very hit and miss.


Also, could someone tell me if someone buys something off me using PayPal, can it then transfer into my N26 account?

What phone is it? Do you have it rooted or non stock in any way? Do you use any other cards (that maybe set as default)?

And for PayPal, yes - just add your IBAN details as a bank in PayPal. - then withdraw the funds. I do it regularly, takes 1 day to arrive.

blade1

advertsfox wrote: »

What phone is it? Do you have it rooted or non stock in any way? Do you use any other cards (that maybe set as default)?

And for PayPal, yes - just add your IBAN details as a bank in PayPal. - then withdraw the funds. I do it regularly, takes 1 day to arrive.

Phone is a OnePlus 6t and stock ROM.
It worked today but I got caught in Aldi the other day when I had no wallet on my.
Has also failed in Tesco's,Lidl and a few smaller shops.

Yeah, sorted the PayPal.
Just thought there might be a problem when it's not a physical bank and non Irish.
If only I could get my wages paid in to n26 I'd be done with boi for good.
Unfortunately that's a non runner for the foreseeable future.

advertsfox

blade1 wrote: »

Phone is a OnePlus 6t and stock ROM.
It worked today but I got caught in Aldi the other day when I had no wallet on my.
Has also failed in Tesco's,Lidl and a few smaller shops.

Yeah, sorted the PayPal.
Just thought there might be a problem when it's not a physical bank and non Irish.
If only I could get my wages paid in to n26 I'd be done with boi for good.
Unfortunately that's a non runner for the foreseeable future.

I'd start with a wipe data / cache for:

- Google Play Services
- Google Play Store
- Google Pay
- Download Manager

(You will have to resign in for Google Backup).

Then from the N26 app itself, add / sync the card from there (making sure you don't have duplicate entries for your N26 stored already in your Google wallet).

SEPA payments should be accepted everywhere in Europe, PayPal of course accepts all banks but doesn't have instant SEPA yet. All companies not paying into it are breaking the law and it's IBAN discrimination.

https://www.centralbank.ie/consumer-hub/explainers/what-is-iban-discrimination-and-what-can-i-do-about-it

blade1

advertsfox wrote: »

I'd start with a wipe data / cache for:

- Google Play Services
- Google Play Store
- Google Pay
- Download Manager

(You will have to resign in for Google Backup).

Then from the N26 app itself, add / sync the card from there (making sure you don't have duplicate entries for your N26 stored already in your Google wallet).

SEPA payments should be accepted everywhere in Europe, PayPal of course accepts all banks but doesn't have instant SEPA yet. All companies not paying into it are breaking the law and it's IBAN discrimination.

https://www.centralbank.ie/consumer-hub/explainers/what-is-iban-discrimination-and-what-can-i-do-about-it

I'll try that that so thanks.

Re: wages.
There is nothing they can do about it.
Pay system is 20 years and they are hoping to get money to update the system in 2 years at the very earliest and if they are lucky.
There's around 8000 on the payroll so it's physically impossible to do it with the current system.

Sheep Shagger

After 20 old years, filled an account closure form on banking 365 to close my BOI current and savings accounts yesterday.

Salary successfully landed in n26 account yesterday and unlike having to wait for BOI to update overnight I got the alert at about 10am (employer banks with AIB).

Won't miss the antiquated 'service' and 'technology' and as soon as I can move the credit card I will.

Salary and savings with N26 as it has a banking licence with disposable day to day spending via Revolut (only because more people I know seem to have it so split bill and transfers are a little easier).

banie01

blade1 wrote: »

I'll try that that so thanks.

Re: wages.
There is nothing they can do about it.
Pay system is 20 years and they are hoping to get money to update the system in 2 years at the very earliest and if they are lucky.
There's around 8000 on the payroll so it's physically impossible to do it with the current system.

No excuse tbh, the fact that companies ignored the requirement for BIC/IBAN despite an EU directive is staggering.

I used to work in a highly regulated industry, regular contact with regulator and ministry.
Yet up to January of this year they still refused to pay funds to non-Irish accounts.
That's despite taking payment from them.

Took threat of escalation to the regulator on foot of their refusal to pay salary to N26.

Stewball

Anyone have any issues switching a direct debit with Sky over to N26?

One of their agents told me it can't be done because of the German IBAN - although I did sense he wasn't on top of his brief.

Sheep Shagger

banie01 wrote: »

No excuse tbh, the fact that companies ignored the requirement for BIC/IBAN despite an EU directive is staggering.

I used to work in a highly regulated industry, regular contact with regulator and ministry.
Yet up to January of this year they still refused to pay funds to non-Irish accounts.
That's despite taking payment from them.

Took threat of escalation to the regulator on foot of their refusal to pay salary to N26.

Definitely worth escalating, our online portal wouldn't accept a non IE IBAN but when I pointed out the EU regulation they managed to find a manual worksround.

I work for a large multi national and the payroll agent (EY I think) managed to make it work. First salary landed yesterday.

JTMan

N26 are starting to apply negative interest rates of -0.50% to amounts in excess of 50k EUR for new customers only on their free package.

Source: here and here.

I suspect that other banks will follow suit.

Bob24

JTMan wrote: »

I suspect that other banks will follow suit.

For now it seems to be concentrated with “Northern” European banks, but yes I think soo as well.

Coincidently I got an email from AIB with updated T&Cs last week, and basically every occurrence whereby the T&Cs used to say “we pay this rate” or “we pay interest” is now replaced by “we apply this rate” or “we apply interest”. Pretty clear what they are planning for with this change!

Sheep Shagger

JTMan wrote: »

N26 are starting to apply negative interest rates of -0.50% to amounts in excess of 50k EUR for new customers only on their free package.

Source: here and here.

I suspect that other banks will follow suit.

Negative interest rates have been around a while for wholesale and corporate customers at banks. AiB have started for retail customers too.

Saw an article in today's Business Post (behind paywall), N26 is approaching 200k customers here but they still won't be opening an office here. They have Irish people employed in Berlin to service this market, the bank saying staff don't need to be sitting in Ireland to serve that part of their customer base- which is true.

Zardoz

Negative interest rates, I've heard it all now .

Sheep Shagger

Zardoz wrote: »

Negative interest rates, I've heard it all now .

Its been around for other currencies for a while now...not just EUR.

Stark

A bank is probably the worst place to keep a large sum of capital these days if you plan to hang on to it for any length of time. You're insured against catastrophic capital loss for sure but that insurance comes at a cost in terms of having your money eaten away by inflation and now negative interest rates.