Number26/N26 Mastercard/Account now for Irish Residents

Yggr of Asgard

N26 has been fined 4.25 million € for various breaches of Anti Money Laundering Laws and systematic failures in their system.

N26 has paid that fine.

This for now has stopped Bafin from further actions (including a possible limitation of new non German Business) but Bafin continues to demand further improvements from n26.

Yyhhuuu

Im with Kbc which are excellent in every respect. I opened account with N26 ( after great difficulty with their cumbersome Passport ID Validation requiring many many attempts) I Would not stay with N26 for following reasons:. Their customer service is a disaster. Completely understaffed and incompetent at resolving issues. Their chat function is very protractedand very frustrating. Their dedicated phone number ( only for premium fee paying customers is non- existent for Irish customers anytime I called)They also have a tendancy not to answer specific questions asked on a chat but cite terms and conditions. When pressed they give conflicting answers. It is extremely frustrating dealing with them. They completely wrecked my head.

The only positive is their phone app. But if you have problems you can not phone or call into branch but only use their chat function.

KBC are a pleasure to phone or deal in person in contrast. BOI are also excellent.

When I wrote to complain about a matter they decided to remove a promotion I had availed of for a free premium account for 12 months eventhough I just signed up a month ago and should have 11 months left. They had no justifiable reason for doing this other than I complained about a matter.

What next. Will they close my account? Thank god I have no balance with them.

Would not do my day to day banking with them after this.

You're on your own if you run into problems with N26. I wouldn't have confidence in them to easily resolve a problem.

Look at other people's reviews who have dealt with them and make up your own mind. Their app is quite good in fairness.

Their N26 YOU current account is bad value at €9.90 per month...

N26 Metal is expensive too.

You have to pay for your physical Mastercard.

jeffk

I went up to about opening a KBC account and didn't want to know, here's a booklet now go away and don't annoy us

I left N26 months ago because i was tired of transactions failing randomly and wasn't spending E10 on a card to see if it would fix my free banking

So far so good with Revolut

Suckit

https://www.boards.ie/discussion/comment/117939419#Comment_117939419

I have Revolut and N26, promised myself that I wouldn't start collecting fintec apps and cards, but I am waiting for Vivid to launch here, and then I will sign up. I emailed them a year or so ago and they replied that they expected to be here by the third quarter of this year, but nothing was concrete especially with covid affecting everything. Still no sign of them. They seem to be very good all round, but I guess they will also have issues. Revolut won't allow transfers to a few (if not all) crypto exchanges. They also have other issues that I can't think of off the top of my head. I had noticed (and think I mentioned it in this thread at the time) that N26 were marking some banks as not available for sepa, or something similar, but I hadn't realosed that was the beginning of them charging for instant transfers. Hopefully vivid comes sooner than later, and it fixes a lot of the issues experienced. I'm not naive enough to think it will be the greatest banking solution of the modern age etc. But from what i have read, it seems to be a lot better organised than the two mentioned. Maybe it took their products as a step to start.

Yggr of Asgard

And N26 is now limiting the number of new customers they will take in each month:

We will be making a temporary adjustment to the number of new bank accounts that we can offer each month.

This means that we may not be able to instantly provide every new customer with an N26 account, at least in the short-term. 

Source: Temporary changes for new N26 customers — N26

irishgeo

https://www.boards.ie/discussion/comment/118101661#Comment_118101661

Anything to do with their inability to follow money laundering rules?

Red Silurian

https://www.boards.ie/discussion/comment/117932343#Comment_117932343

2-3 weeks without my money? Yikes! I'd be looking for interest from N26 for that

mosstin

https://www.boards.ie/discussion/comment/118102055#Comment_118102055

Happy to have it back and a new card issued. Pretty sure any interest - if there were any - would be negligible. I have other battles to fight.

Yggr of Asgard

https://www.boards.ie/discussion/comment/118101975#Comment_118101975

There is speculation that they did that before BAFIN could order them to do it.

Most likely the limitation is so that they can ensure that each opening is vetted properly with the staff levels they have (or more to the point their new contractor in Greece who they outsourced this to) to satisfy the BAFIN's order to do it properly.

LeeroyJ.

Seems they also closed the refer a friend option in line with the regulation

Dempo1

Morning, just got an email from N26 RE Enter your tax ID information, its a legitimate email, brings you to app etc.

I presume they are looking for my PPSN number 🤔 I'm not a business or self employed etc .

I've barely used the account yet, kind of testing water, small transactions etc, waiting on KBC winding down.

Thanks if anyone can clarify

Yes. They are required to have your PPSN, just like the Irish bricks and mortar banks.

JimmyVik

https://www.boards.ie/discussion/comment/117709305#Comment_117709305

I closed my KBC account and went to N26 too. I also have revolut but using N26 as my current account.

Never had an issue with IBANs apart from Vodafone too.

After talking to about 5 people in Vodafone they finally accepted the IBAN.

I reported to COMREG too.

Dempo1

https://www.boards.ie/discussion/comment/118106447#Comment_118106447

Thanks for that, just surprised it wasn't asked for when opening account initially but thanks for the clarification 😏

unkel

https://www.boards.ie/discussion/comment/118106518#Comment_118106518

How did you do that? I just tried change my IBAN to my N26 and it can't do that and to go into a store

JimmyVik

https://www.boards.ie/discussion/comment/118106899#Comment_118106899

They did it over the phone. Got fobbed of by a few of them before one finally knew what to do.

If they put it in manually themselves, i assume via different software, it is fine.

That message is from the software only and does not mean they cant use differetn IBANs at all. Just that their software doesnt allow it.

Dempo1

https://www.boards.ie/discussion/comment/118106899#Comment_118106899

There's been a number of reports on certain companies being difficult re using N26 and other online , non Irish banks for DD,

I don't believe a store could resolve the issue it's a billing, back end issue requiring billing team to resolve, open to correction 😉

https://www.boards.ie/discussion/comment/118106924#Comment_118106924

The same back end they use in their stores?

Dempo1

https://www.boards.ie/discussion/comment/118107724#Comment_118107724

Again I'm open to correction but I worked for a another network for 8 years, whilst the issues with IBANS and non Irish banks relatively new, we had no access or permission at store level to resolve this and other complex billing issues.

Vodafone may be different but 90% of their stores franchise so I'd be doubtful. If I recall the issue in question was only resolved after numerous calls to Vodafone and indeed a complaint to Comreg .

Unfortunately there's a perception that Network stores can resolve every issue for customers, this I'm afraid is not the case as most (apart from Eir) are franchise with little, limited or no access to billing systems.

https://www.boards.ie/discussion/comment/118107817#Comment_118107817

If Vodafone themselves are now telling you to call into a store to resolve the non UK/IE IBAN issue, you can bet that the stores can resolve it.

Dempo1

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

Again, I'm open to correction and not saying I am correct, just offering an opinion based on experience, I really don't want to be getting into a back and forth on this. This particular issue re IBANS has been raised numerous times and on other threads, this would at a minimum suggest its not something easily resolved.

Customer care in the network I worked for, always and continue to send customers into stores knowing full well the store can not resolve numerous issues. Wether it be

A billing issue

Updating Bank details (Absolutely not permitted)

Network coverage issues

Accounts suspended /Closed

Just to mention a few

We're getting a little off Topic

Advice, Opinion can or indeed not be accepted. Let's leave it at that.

Sweet Jesus.

Dempo1

https://www.boards.ie/discussion/comment/118111087#Comment_118111087

My thoughts exactly

JimmyVik

Its a software issue. You have to get through to someone who either has permission to bypass the IBAN filter or who uses a different system to input it.

Eventually after explaining to several different people on the phone I got someone who was able to update the IBAN without that check preventing them.

All they have to do is fix their software and this wouldnt be an issue.

https://www.boards.ie/discussion/comment/118111262#Comment_118111262

Think inside the box here. Why the fcuk would Vodafone themselves be sending you to their stores to update people's billing information for this exact issue? Would it perhaps be because the people in store either have the access to update it themselves or know how to get it updated correctly?

This is a new approach from them, previously they couldn't do it at all. You're basing your self admitted outdated knowledge on working for someone else entirely. That's like me saying I'm an expert on Burger King became I worked in McDonalds for a week when I was 16.

Dempo1

https://www.boards.ie/discussion/comment/118111418#Comment_118111418

I'm not quite getting your obsession with this. A poster posed a litigmate question, I responded as best I could based on my long experience working in the industry, you jumped on my response, I explained I'm not claiming to be correct but pointed out, just because customer care, send a customer to a shop (mostly franchise with limited access to back end systems) does not mean the issue can or will be resolved.

I lost count the amount of times, working in this industry were customers essentially rushed off the phone and sent somewhere else to resolve an issue, knowing full well the issue can not be resolved at store level. This incidently is not solely an approach taken by mobile phone companies.

Aside from the obvious, there's been numerous posts, queries and frustrations raised not just on Boards but elsewhere about the difficulties in getting companies to accept non Irish IBANS for the purposes of DD and despite legislation forbidding this.

Wether your not aware of this or deliberately trying to create something out of nothing, I'm unsure.

I've respected your opinions and indeed thanked you for advice , why you've now latched onto this is a mystery.

I reiterate, Network Retail stores are primarily Franchise, Have limited access to certain functions, Have limited ability to resolved complex billing issues.

I've not said a Vodafone store can not resolve this issue, I've said I'm very doubtful they can.

Move on, this is getting Tiresome and cut out the F***, no need for it.

unkel

I'd nearly go in to a Vodafone shop to put this argument to bed 😂

Dempo1

https://www.boards.ie/discussion/comment/118111607#Comment_118111607

Yes indeed , I might go myself 🤣 I'm sorry I even commented

Wheety

No sign of joint accounts with N26? We have a joint account with KBC and I'm trying to plan ahead. We both have individual accounts with N26.

Jim2007

They snipping stops now. You know who I mean.

.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.

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.

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.

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.

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.

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

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.

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.

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.

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 😃

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

flazio

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

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.

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!

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.

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

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?

Yggr of Asgard

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

Yes #3501 (boards.ie)

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.

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.