Number26/N26 Mastercard/Account now for Irish Residents

ahbell · 25-01-2016 11:46am

Does that €30 cover both the credit card and credit account charges? Apologies, I've only moved to Ireland in recent years and never had a credit card here so unaware of the charges.

Polo_Mint · 26-01-2016 8:53am

im still waiting on my card after 8 working days

Allyall · 26-01-2016 3:56pm

ahbell wrote: »

Does that €30 cover both the credit card and credit account charges? Apologies, I've only moved to Ireland in recent years and never had a credit card here so unaware of the charges.

A breakdown of all the charges here

http://www.revenue.ie/en/tax/stamp-duty/leaflets/stamp-duty-financial-cards.html

ahbell · 26-01-2016 4:02pm

Allyall wrote: »

A breakdown of all the charges here

http://www.revenue.ie/en/tax/stamp-duty/leaflets/stamp-duty-financial-cards.html

So I'm right in thinking the tax we have to pay on a Number26 account is €60p/a? €30 for the card and €30 for the account?

Yggr of Asgard · 26-01-2016 4:14pm

ahbell wrote: »

So I'm right in thinking the tax we have to pay on a Number26 account is €60p/a? €30 for the card and €30 for the account?

According to most users there should be no stamp duty only ATM withdraw tax as it's working as a debit card.

However number26 is of the opinion that's it a credit card and hence stamp duty applies, but it's only 30€.

The revenue page is slightly confusing because most people say it's per card when revenue points out it's for the underlying credit account not card.

Delta2113 · 26-01-2016 4:42pm

You can have 4 cards on the same credit card account and you still pay €30 in total. Your credit limit would be shared amongst the four people of course.

Number26 have this €30 charge all wrong.I hope they correct it to the 12 cent charge.

gamblor101 · 26-01-2016 4:49pm

Its a credit card (with no credit facility) with debit card features. You could argue the toss as to whether the blanket €30 or 12c per ATM transaction should apply.
They should make the Maestrocard that their German and Austrian customers can get available to us too.

gawker · 26-01-2016 4:56pm

Just off chat with N26. They said "We are checking that right now to make sure that everything is correct. As soon as there is something new we will inform our customers." Sounds like they have heard the feedback, hopefully this is sorted soon. I know "credit card" is more all-encompassing in German lingo, so perhaps this error is due to a simple translation issue on their side.

Delta2113 · 26-01-2016 5:00pm

I hope they realise they have made a mistake. €30 is wrong -fact.

curiosity · 26-01-2016 6:23pm

Whatever about the rights/wrongs of Number26 applying the 30 euro charge, the fact that Ireland is the only country (of the ones they serve) that required a note on Revenue Service costs is a bit "Really, Ireland, really?".:(

Allyall · 26-01-2016 6:30pm

curiosity wrote: »

Whatever about the rights/wrongs of Number26 applying the 30 euro charge, the fact that Ireland is the only country (of the ones they serve) that required a note on Revenue Service costs is a bit "Really, Ireland, really?".:(

"We need to make xx amount by year xxxx. Anyone, any ideas? Any ideas at all?"

"Tax EVERYTHING!. Anything that's already taxed... TAX SOME MORE!!"

Yggr of Asgard · 26-01-2016 8:15pm

Allyall wrote: »

"We need to make xx amount by year xxxx. Anyone, any ideas? Any ideas at all?"

"Tax EVERYTHING!. Anything that's already taxed... TAX SOME MORE!!"

and while we tax everything make sure we invent some methods of taxing which protect our shares in the banks so that any possible company trying to get our customers has major challenges entering the market.

BuffyBot · 26-01-2016 8:23pm

Can we get back on topic folks? The rights and wrongs of stamp duty are not for this thread

JTMan · 26-01-2016 10:23pm

Number26 now have 100,000 customers. More here: https://number26.eu/1-year-old-100-000-customers-strong/

Does anyone have an email address for someone senior in Number26 that we could all email about the tax issue?

bertie4evr · 26-01-2016 10:28pm

JTMan wrote: »

Number26 now have 100,000 customers. More here: https://number26.eu/1-year-old-100-000-customers-strong/

Does anyone have an email address for someone senior in Number26 that we could all email about the tax issue?

The CEOs is valentin.stalf@number26.de.

Allyall · 26-01-2016 10:35pm

I don't think we all need to email anyone. Do we?

It's only been a couple of days, I'm sure they are aware of it, and may be looking into it. Seeing as any charge probably won't happen until the end of March, we could easily give them a week or so to to and fro with Revenue and publish something on their Site or Twitter.

bertie4evr · 26-01-2016 10:52pm

Allyall wrote: »

I don't think we all need to email anyone. Do we?

It's only been a couple of days, I'm sure they are aware of it, and may be looking into it. Seeing as any charge probably won't happen until the end of March, we could easily give them a week or so to to and fro with Revenue and publish something on their Site or Twitter.

If we hadn't emailed or got in touch they wouldn't have known anything was wrong. I'm still not sure how things are going to turn out but from some posts in the other thread it looks like they've gone from the "charges are staying" and "close your account then" to "We're working on it" due to complaints.

Fred Swanson · 26-01-2016 11:13pm

This post has been deleted.

dalta5billion · 27-01-2016 1:43am

http://www.revenue.ie/en/practitioner/law/notes-for-guidance/stamp-duty/2014/part9-levies.pdf

(in relation to credit card/debit card/ATM card stamp duties)

Revenue Commissioners Guidance Notes wrote:

Because the duty is a stamp duty other appropriate provisions of this Act apply, in particular:

section 14(3) which enables the Revenue Commissioners to mitigate penalties
payable in respect of late payment of duty,
section 126B which enables an appeal against an assessment to duty (the internal review procedures set out in Statement of Practice SP-GEN/2/99 (Revised January 2005) also apply), and
section 152 which enables the Revenue Commissioners to refund duty in certain circumstances – but see also section 159A as regards the time limit for making a refund claim and section 159B as regards interest that may be payable on such refunds.

Think bits of it have been amended since but section 152 is a real doozy

152.—When any person has inadvertently used for an instrument liable to duty a stamp of greater value than was necessary, or has inadvertently used a stamp for an instrument not liable to any duty, the Commissioners may, on application made within 6 years after the date of the instrument, or, if it is not dated, within 6 years after the execution of the instrument by the person by whom it was first or alone executed, and on the instrument, if liable to duty, being stamped with the proper duty, cancel and allow as spoiled the stamp so misused.

No wonder the germans got confused

pasquale83 · 27-01-2016 9:39am

I asked for clarification on their Facebook page yesterday and they replied today. They said: "We are on it to clarify the issue".

So something is moving and we will have news soon hopefully.

BrookieD · 27-01-2016 12:22pm

pasquale83 wrote: »

I asked for clarification on their Facebook page yesterday and they replied today. They said: "We are on it to clarify the issue".

So something is moving and we will have news soon hopefully.

Good Stuff, they need to be seen to sort this quickly as they need to protect the brand from a sticky start.

bertie4evr · 27-01-2016 6:01pm

They updated the price list, it's now €5 p.a.

pasquale83 · 27-01-2016 6:09pm

bertie4evr wrote: »

They updated the price list, it's now €5 p.a.

So it looks like that asking publicly has an effect

pasquale83 · 27-01-2016 6:11pm

bertie4evr wrote: »

They updated the price list, it's now €5 p.a.

Do you have a link? At this one: https://number26.eu/support/really-costs/ they still have the 30 euro p.a. fee

bertie4evr · 27-01-2016 6:18pm

pasquale83 wrote: »

Do you have a link? At this one: https://number26.eu/support/really-costs/ they still have the 30 euro p.a. fee

Here it is. I went looking for the old one and it was taken down, so I went through the terms and found the link to this one.

dohouch · 27-01-2016 6:19pm

Here's the link with €5

pasquale83 · 27-01-2016 6:22pm

Thanks Lads, but I still don't think it is correct. Didn't they introduced a 0.12 euro fee per ATM cash withdrawal in the last budget? Why a 5 euro lump sum?

bertie4evr · 27-01-2016 6:29pm

pasquale83 wrote: »

Thanks Lads, but I still don't think it is correct. Didn't they introduced a 0.12 euro fee per ATM cash withdrawal in the last budget? Why a 5 euro lump sum?

You're right but it's something at least. They changed this pretty quick once people noticed so hopefully they'll be quick about it again.

Yggr of Asgard · 27-01-2016 6:30pm

Never mind that the 5€ is wrong too, as it's now the ATM Withdraw tax, however it's good to see that they changed their mind.

Possible complaining to Wirecard (which should know this as they issue cards to Irish Residents in multiple programs for various companies) and to the CEO helped.

But it's still worrying that they would do such a big error in the first place, not communicate correctly and honestly about it.

At present, I can't recommend them to be honest and in fact, if I could, I would modify my initial post in this thread to reflect that.

pasquale83 · 27-01-2016 6:32pm

bertie4evr wrote: »

You're right but it's something at least. They changed this pretty quick once people noticed so hopefully they'll be quick about it again.

I am curious on how they made the change. Did they go to have a look on the Revenue website and didn't find the updated information? Or what?

I mean, I supposed they officially contacted Revenue which should communicate them the latest rules, not an obsolete one!

Anyway, at the moment is 6 times less than the previous fee at least

Number26/N26 Mastercard/Account now for Irish Residents

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