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

NeverWaining

If they are charging us the debit card rate of stamp duty then shouldn't all of us who received and used their cards in December been charged at the turn of the year?

Yggr of Asgard

NeverWaining wrote: »

If they are charging us the debit card rate of stamp duty then shouldn't all of us who received and used their cards in December been charged at the turn of the year?

Yes we should be charged 2.50/5.00 € depending on how we used the card.

I'm sure someone from Revenue is already knocking on their door for having missed the 2015 dealing of reporting/paying.

bertie4evr

I sent an email to the Central Bank last week before they had made the changes and just got this back today:

With regard to the €30 Stamp Duty charge, I note that the Number26 website has been amended to read “Please note that customers residing in Ireland are liable for a stamp duty fee of €5 per year for the MasterCard, charged by the Irish Revenue Service. This fee will be collected once a year.”



However, this is not strictly in line with Budget 2016, where it was announced that that the current €2.50 per annum charge on ATM cards and €5 on combined (ATM and debit) cards was being abolished from 1 January 2016 and a new 12 cent fee per ATM withdrawal was being introduced from 1 January 2016. The total fee payable per annum per card will be capped at €2.50 on ATM cards and €5 on combined (ATM and debit) cards.



In respect of the Central Bank of Ireland’s broader consumer protection role, we appreciate and welcome contact from consumers of financial products. The information provided by you has been passed to the appropriate team for consideration as part of their on-going supervisory remit .

I own an applewatch

Wow! What a total omnishambles this has been. Is it not time to remove this thread from BA?

And I sincerely hope the over zealous twats who were urging people to switch to this joke factory have the decency to come on and apologise for wasting everyone's time.

Laughable!:rolleyes:

TireeTerror

I own an applewatch wrote: »

Wow! What a total omnishambles this has been. Is it not time to remove this thread from BA?

And I sincerely hope the over zealous twats who were urging people to switch to this joke factory have the decency to come on and apologise for wasting everyone's time.

Laughable!:rolleyes:

I pay much more in fees to BOI than €5, so Im delighted I have it. Im sure its only a matter of days before its changed to the correct settings Sure it should have been done by themselves, it shouldnt need us to point it out, but hey, its done now and its free banking.

I own an applewatch

TireeTerror wrote: »

I pay much more in fees to BOI than €5, so Im delighted I have it. Im sure its only a matter of days before its changed to the correct settings Sure it should have been done by themselves, it shouldnt need us to point it out, but hey, its done now and its free banking.

Do you really trust this shower with your hard earned after their lamentable customer service response?

cefh17

Is anyone having issues with notifications? The only one that came through for me was when a deposit cleared into the account. I've checked my settings on Android and can't see anything glaringly obvious that I may have wrong.

ibFoxer

I have read through a good portion of this thread but I'm still a bit unsure, how safe is it to open an account now? Is the €30 charge definitely gone?

Doylers

ibFoxer wrote: »

I have read through a good portion of this thread but I'm still a bit unsure, how safe is it to open an account now? Is the €30 charge definitely gone?

The 30euro charge is gone yes. Currently its a 5er charge which is technically wrong but tbh that wouldn't bother me the convince is worth it.

Only issue at the moment is a card not being accepted by littlewoods(see above) you'd wonder where else doesn't accept them

damemcd

Betfair didn't accept....... just as well...

IQO

Anyone seeing delays in crediting your number26 from an Irish bank account? How long does this transfer take on average?

Just transferred a few hundred quid just passed midnight on Friday January 29th from Permanent TSB to Number26. At the same time I made a payment to a Bank of Ireland account (which now also goes through SEPA, I assume) which arrived already later Friday afternoon. No credit to be seen yet at Number26, and the login on their site seems not even to be working now. Should I be worried?

Harika

IQO wrote: »

Anyone seeing delays in crediting your number26 from an Irish bank account? How long does this transfer take on average?

Just transferred a few hundred quid just passed midnight on Friday January 29th from Permanent TSB to Number26. At the same time I made a payment to a Bank of Ireland account (which now also goes through SEPA, I assume) which arrived already later Friday afternoon. No credit to be seen yet at Number26, and the login on their site seems not even to be working now. Should I be worried?

It usually takes 1 1/2 working days to send money from an Irish account to Number 26, that is my experience at least. It is because the bank is in Germany and inter country transfers still take a lot of time.

bertie4evr

IQO wrote: »

Anyone seeing delays in crediting your number26 from an Irish bank account? How long does this transfer take on average?

Just transferred a few hundred quid just passed midnight on Friday January 29th from Permanent TSB to Number26. At the same time I made a payment to a Bank of Ireland account (which now also goes through SEPA, I assume) which arrived already later Friday afternoon. No credit to be seen yet at Number26, and the login on their site seems not even to be working now. Should I be worried?

For AIB to Number26 it usually takes 24 hours or less for me.

Sono

Just transferred to revolut and then onto Number26(it seemed less hassle than going through my own bank account) is this quicker does anyone know? I'm kinda wondering if I need this card at all seeing as I have the revolut account, card looks pretty slick though!

TireeTerror

Sono wrote: »

Just transferred to revolut and then onto Number26(it seemed less hassle than going through my own bank account) is this quicker does anyone know? I'm kinda wondering if I need this card at all seeing as I have the revolut account, card looks pretty slick though!

I have both and have not touched the Number26 card yet. Ive used my Revolut card almost daily since I got it.

Youre right about the N26 card, its awesome. I might just put some credit on it so I can use the card with its transparent goodness!

tharmor

Harika wrote:

It usually takes 1 1/2 working days to send money from an Irish account to Number 26, that is my experience at least. It is because the bank is in Germany and inter country transfers still take a lot of time.

Under SEPA all xfers take same time within Sepa zone....until unless thr is local holiday in beneficiary country

Savman

https://number26.eu/the-cost-of-cash/

Whether it’s politics or business, there’s an increasing amount of decision makers in Germany who have doubts in the future of cash. We’ll explain here why we support this trend.

Given their stance in this article, it's possible that Number26 may not have any plans to introduce Cash lodgements.

Every year German citizens pay around 150€ just to use cash (for example: to insure and maintain ATMs). A big chunk of those costs are picked up by the banks. And they account for those costs by sticking consumers with hidden fees. Even when traditional banks offer “free accounts,” there are usually costs invisible to the customer.

soirish

That's an absolutely absurd statement which will effectively impose capital control on people but don't want to hijack this thread with macroeconomics.

Try explaining all these "benefits" to the folks in Greece.

Sono

Deposited on Tuesday evening from revolut and it still hasn't hit my account yet, not a good start to number26 for me.

Yggr of Asgard

Sono wrote: »

Deposited on Tuesday evening from revolut and it still hasn't hit my account yet, not a good start to number26 for me.

If you look at the revolut thread you will see that revolut takes days to process the withdraw.

This delay is not number26 fault, it's revoluts issues. remember revolut is not a bank account, they process the withdraw via a common holding account and take quite some time to do it. They say approx 3 days for withdraws.

ahbell

Sono wrote: »

Deposited on Tuesday evening from revolut and it still hasn't hit my account yet, not a good start to number26 for me.

Transferring from PTSB to N26 has never taken me more than 24 hours, except where there's public holidays.

Savman

Sono wrote: »

Deposited on Tuesday evening from revolut and it still hasn't hit my account yet, not a good start to number26 for me.

Definitely Revolut there.

Sono

Have transferred from revolut to Ulster bank and haven't had much of a delay, this is definitely taking longer, anyway I just wanted to test it and see how long it took

The Ayatolla

Give it at least a week before panicking. I wouldn't be transferring from Revolut to an Irish bank account if I was in a hurry for the money.

djmarkus

I got my revolut transfer -> n26 from *Monday*, today.

In future take it out via the ATM!

Yggr of Asgard

djmarkus wrote: »

I got my revolut transfer -> n26 from *Monday*, today.

In future take it out via the ATM!

That is the better way to get funds out of revolut, use the ATM. Just remember that if you do that in Ireland that you are going to be hit with the 12 cent ATM Withdraw Tax.

TireeTerror

Yggr of Asgard wrote: »

That is the better way to get funds out of revolut, use the ATM. Just remember that if you do that in Ireland that you are going to be hit with the 12 cent ATM Withdraw Tax.

What is this 12c tax all about? What is their pretend justification as to why we are being taxed to withdraw our money, which was already taxes when earned.

Yggr of Asgard

TireeTerror wrote: »

What is this 12c tax all about? What is their pretend justification as to why we are being taxed to withdraw our money, which was already taxes when earned.

Well the Irish Government can do what ever they want in our particular type of democratic system, but you can hold them for account in a couple of weeks.

Nollog

It's a replacement for the stamp duty on your glorious honorable most prestigious ability to hold a bank card of either ATM or Debit description.

Savman

FWIW I can't get the card to work on Sky Ireland.

Sky also won't take a DD from a non-irish account :rolleyes: