Number26 launching free mobile-first bank account in Ireland (Revolut alternative)

banie01

My 2010 passport was rejected.
It seems to be a lottery rather than a strict control list.

theroomisonfire

Just got the below message from them.anyone else experienced these problems?


Hey,

Many thanks for your email. We would like to apologize for the delayed response.

Over the change of the year, our banking partner Wirecard experienced technical problems with their core banking system, which caused a delay in incoming and outgoing transactions. In some cases, outgoing transfers could not be completed and were credited back to the sending account.

Since the beginning of this week, we have worked closely with our partner to rectify the problem, and by now all affected transfers have been either processed or credited. In addition, we took appropriate measures to avoid similar failures in the future.

We are keenly aware that a such a slip-up is highly inconvenient for you as our customer. If you still have any open questions at all regarding any of your transactions, please don’t hesitate to contact us. Otherwise we will assume that all your problems are now solved.

Despite this rocky start we would like to wish you the very best for the new year!

Kind regards,

rocksolid

Guys, could anyone tell me how can i lodge money the my Number26 account other than using an online transfer?

I tired my local post office but their system doesn't recognise the Number26 bank card?

bk

NoelDoran wrote: »

Guys, could anyone tell me how can i lodge money the my Number26 account other than using an online transfer?

I tired my local post office but their system doesn't recognise the Number26 bank card?

You can't lodge cash directly into a Number26 account. It is one of the downsides of this account, for the payment *

* They do support cash lodgements in Germany, so they are likely to bring something similar to Ireland in the future.

So your only option is to lodge cash to another account first and then transfer it across.

A number of Irish banks offer free savings accounts (instant access ones) that you could use to lodge cash into first and then transfer to Number26.

EDIT: For instance, AIB's Demand Deposit Acccount: http://personal.aib.ie/our-products/savings-and-deposits/demand-deposit

The J Stands for Jay

NoelDoran wrote: »

Guys, could anyone tell me how can i lodge money the my Number26 account other than using an online transfer?

I tired my local post office but their system doesn't recognise the Number26 bank card?

You can have your income paid directly into the #26 account instead of the account you currently use.

Yggr of Asgard

Western Union is offering a "to bank account" service online (via debit/credit card) and in some countries you can do the same from a WU agent, so you might ask a WU agent (like AnPost) if they offer this too. Online is free (warning your credit card company might charge a cash advance fee). Don't mix it up with the WU cash pickup, this is to any bank account.

15MrC

Number26 seems great and all, but has anyone thought of any future implications of getting their salary paid into this bank, along with using it for all their transactions?
What happens in 5/10 years time when you're looking for credit (mortgage/loan/credit card) from an Irish bank, and it gets refused because you have no credit history whatsoever, due to the fact all your banking is being carried out in Germany?

The Ayatolla

15MrC wrote: »

Number26 seems great and all, but has anyone thought of any future implications of getting their salary paid into this bank, along with using it for all their transactions?
What happens in 5/10 years time when you're looking for credit (mortgage/loan/credit card) from an Irish bank, and it gets refused because you have no credit history whatsoever, due to the fact all your banking is being carried out in Germany?

I only plan on using it until PTSB sort out their abysmal app. I imagine statements from the N26 account would be enough, similar to what they ask for credit unions and such.
I still save away with PTSB and other financial institutions in Ireland.

15MrC

The Ayatolla wrote: »

I only plan on using it until PTSB sort out their abysmal app. I imagine statements from the N26 account would be enough, similar to what they ask for credit unions and such.
I still save away with PTSB and other financial institutions in Ireland.

Perhaps, although with them being based in Germany, and no direct contact with the ICB, I'd still be very reluctant to completely switch to them.

15MrC

From the AIB mortgage checklist (http://personal.aib.ie/content/dam/aib/personal/docs/our-products/mortgages/mortgage-checklist.pdf - page 3)

If you live abroad or bank abroad, a foreign credit check
will be required.

Fred Swanson

This post has been deleted.

Yggr of Asgard

15MrC wrote: »

Number26 seems great and all, but has anyone thought of any future implications of getting their salary paid into this bank, along with using it for all their transactions?
What happens in 5/10 years time when you're looking for credit (mortgage/loan/credit card) from an Irish bank, and it gets refused because you have no credit history whatsoever, due to the fact all your banking is being carried out in Germany?

I have not paid my salary into an Irish Account in years and still have a credit record with the ICB because my Irish Credit Card is reported to it.

Having a current account does not increase your ICB credit score and would only effect your credit rating if you are getting your credit from the same bank you have the account with.

You have a valid point in so far as an Irish Bank (if there is still such a thing than) might have challenges accepting a non-irish account statement to see how your spending habits are, but that is no different than let's say PTSB asking you to see your Ulster Bank account statement when you go for a loan there.

Plus hopefully in 5/10 years time foreign lenders have gotten into the Irish Market and you can get your money from there. Sure most foreign banks (remember Halifax) retreat out of Ireland (after all it's a change resistant country) but with SEPA and the new SEPA effects (like instant transfers instead of 1 day) will make it easier for customers to get what's best for them.

For example you could already apply for a Lufthansa Miles & More credit card in Germany, because as long as you have a German Bank account you can get it. The Limit might be small and it's really a charge card, but you can get the limit up over time and with a payment history after a couple of month they will offer you a revolving limit.

Now I do not think that number26 is a full replacement for a current account yet because there is still challenges (like some Irish companies not complying with the SEPA requirements and unable to use it), overwhelmed customer service, web interface not allowing some basic templates, no non € transactions etc.) but in the long run cross boarder banking will become the norm.

FastFullBack

Yggr of Asgard wrote: »

the new SEPA effects (like instant transfers instead of 1 day)

When is this coming in? Will be very useful.

15MrC

Yggr of Asgard wrote: »

I have not paid my salary into an Irish Account in years and still have a credit record with the ICB because my Irish Credit Card is reported to it.

Having a current account does not increase your ICB credit score and would only effect your credit rating if you are getting your credit from the same bank you have the account with.

You have a valid point in so far as an Irish Bank (if there is still such a thing than) might have challenges accepting a non-irish account statement to see how your spending habits are, but that is no different than let's say PTSB asking you to see your Ulster Bank account statement when you go for a loan there.

Plus hopefully in 5/10 years time foreign lenders have gotten into the Irish Market and you can get your money from there. Sure most foreign banks (remember Halifax) retreat out of Ireland (after all it's a change resistant country) but with SEPA and the new SEPA effects (like instant transfers instead of 1 day) will make it easier for customers to get what's best for them.

For example you could already apply for a Lufthansa Miles & More credit card in Germany, because as long as you have a German Bank account you can get it. The Limit might be small and it's really a charge card, but you can get the limit up over time and with a payment history after a couple of month they will offer you a revolving limit.

Now I do not think that number26 is a full replacement for a current account yet because there is still challenges (like some Irish companies not complying with the SEPA requirements and unable to use it), overwhelmed customer service, web interface not allowing some basic templates, no non € transactions etc.) but in the long run cross boarder banking will become the norm.

No doubt in the future, cross border banking will more than likely become more widespread, but I'd still urge caution to anyone moving completely to N26 at such an early stage, especially since, as you say, a lot of Irish banks/companies are still working out technical issues with accepting non-Irish accounts for payments.

Fred Swanson

This post has been deleted.

Yggr of Asgard

FastFullBack wrote: »

When is this coming in? Will be very useful.

November 2017 is the latest forecast.

Yggr of Asgard

15MrC wrote: »

No doubt in the future, cross border banking will more than likely become more widespread, but I'd still urge caution to anyone moving completely to N26 at such an early stage, especially since, as you say, a lot of Irish banks/companies are still working out technical issues with accepting non-Irish accounts for payments.

They are not working out technical issues, they are non compliant with the EU Payment Directive and I can only hope that loads of people finally complaining to the Central Bank and the EU that this will be a thing of the past, especially past 1 February when it's IBAN only.

Yggr of Asgard

Fred Swanson wrote: »

This post has been deleted.

I think it depends on your situation and if you meet their criteria.

I know some Irish People who have it (because they fly a lot of Lufthansa) and they got it without a problem, all they needed was a German Bank Account. DKB (the bank behind) it had no issue giving them one with an Irish Address, but it was painful to get it because everything is in German and you need specific certifications of your passport/address. Plus their limit was a joke.

I had it easier, I am banking with DKB, for me it was a couple of mouse clicks online plus I speak the wonderful German language.

So in Summary, YMMV.

15MrC

Yggr of Asgard wrote: »

They are not working out technical issues, they are non compliant with the EU Payment Directive and I can only hope that loads of people finally complaining to the Central Bank and the EU that this will be a thing of the past, especially past 1 February when it's IBAN only.

I agree that they are non compliant, and this should be worked out, but I still think this does come down to technical issues, to a point. A lot of systems would need to be upgraded, at a cost, to take foreign IBANs/BICs. I'd hardly think that any company would willingly refuse one if the system could take it, it wouldn't make sense. Although as you say, this is against the payment directive, and should be resolved ASAP.

Yggr of Asgard

15MrC wrote: »

I agree that they are non compliant, and this should be worked out, but I still think this does come down to technical issues, to a point. A lot of systems would need to be upgraded, at a cost, to take foreign IBANs/BICs. I'd hardly think that any company would willingly refuse one if the system could take it, it wouldn't make sense. Although as you say, this is against the payment directive, and should be resolved ASAP.

If they can take an IBAN (again BIC is not really needed for cross border anymore) than they can take any SEPA compliant account. A bank does not care if it's start with IE or DE because they are compliant.

There should be fines for especially large companies not complying, there is really no excuse, they had years to get this sorted before the deadline.

I can already see the next challenge coming on 2 Feb when companies still want the BIC.

The J Stands for Jay

15MrC wrote: »

I agree that they are non compliant, and this should be worked out, but I still think this does come down to technical issues, to a point. A lot of systems would need to be upgraded, at a cost, to take foreign IBANs/BICs. I'd hardly think that any company would willingly refuse one if the system could take it, it wouldn't make sense. Although as you say, this is against the payment directive, and should be resolved ASAP.

Any company that isn't taking foreign IBANs is doing it because they can't even use Irish IBANs in their system. It's very easy for them to deduce the sort code and account number from an Irish IBAN and input those, carrying on in their merry, non-compliant way.

soirish

Was in Asia recently and at one of the airports was asked for 4 euro for 2 bottles of water. Paid with N26 in local currency and it came down to 3.09 .

Kramer

schofferhofer wrote: »

Well, I am awaiting my card too. I did the verification just before Christmas......I will wait till Monday before requesting another card.

Same here. Registered/verified December 19th. No card since.
Very doubtful all these cards are "lost".

dalta5billion

Kramer wrote: »

Same here. Registered/verified December 19th. No card since.
Very doubtful all these cards are "lost".

Verified 30th December or thereabouts. Received card few days ago. So I'd ask to reissue.

inel

While in Germany a few days ago I logged into the mobile app and was automatically given the option for cash26 (deposit/withdrawal).

I decided to try the service in a local REWE store and deposit some money. The people at the store had no idea about the service and didn't want to scan the barcode I showed to them (from the app) in order to complete the transaction.

So I left without being able to convince them

OU812

Heard back form Ulster Bank about the "International Payment" delay & they said that SEPA is for Direct debit only (i.e. originating with them requesting money) & not designed for transferring funds to other europe-wide institutions. If they were requesting a sum it would deposit in the normal sea timeframe.

schofferhofer

Kramer wrote: »

Same here. Registered/verified December 19th. No card since.
Very doubtful all these cards are "lost".

I did email N26 on monday and got an auto email saying it takes them 3-5 days toreply to email. However as of end of Friday still no reply. I sent them a reminder earlier today but no response. I even tried calling them but as someone mentioned before, I was on hold for about 20 min and then got a recorded message that all agents are busy please try again later.So getting in touch with customer support seems to be a challenge

bennyx_o

OU812 wrote: »

Heard back form Ulster Bank about the "International Payment" delay & they said that SEPA is for Direct debit only (i.e. originating with them requesting money) & not designed for transferring funds to other europe-wide institutions. If they were requesting a sum it would deposit in the normal sea timeframe.

What you've been told is wrong. SEPA is designed to make all transfers made in Euro much simpler, and basically turn the Euro area into one domestic area for transfers.

Yggr of Asgard

schofferhofer wrote: »

I did email N26 on monday and got an auto email saying it takes them 3-5 days toreply to email. However as of end of Friday still no reply. I sent them a reminder earlier today but no response. I even tried calling them but as someone mentioned before, I was on hold for about 20 min and then got a recorded message that all agents are busy please try again later.So getting in touch with customer support seems to be a challenge

I agree that is not acceptable at all, even if they got more customers out of their expansion than they forecasted.

I said earlier, the overwhelmed customer service is one of the reasons that speaks against this account becoming the primary current account.

Julabo

Joined. Let's see how it goes