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N26 Personal or Business Accounts

  • 17-01-2021 7:44am
    #1
    fearrchair
    Registered Users Posts: 178 ✭✭


    I was opening an account tonight but have come on a screen saying am I sure... is it a personal card or do I want a business with 0.1% cashback.

    Both seem to be same...

    I am not a business owner so is that mean I should stay away then that this isn't allowed or there some hidden or company details needed if I proceed.


Comments

  • #2
    jrmb
    Registered Users, Registered Users 2 Posts: 705 ✭✭✭jrmb


    It's aimed at freelancers anyway. Proceed and see what they ask for. In the worst case scenario, they want a company number and you don't have one.


  • #3
    fearrchair
    Registered Users Posts: 178 ✭✭fearrchair


    jrmb wrote: »
    It's aimed at freelancers anyway. Proceed and see what they ask for. In the worst case scenario, they want a company number and you don't have one.

    I went another step there and it's asking to select what industry sector l am operating in. Maybe its not a good idea even though they seem to be asking are you sure and pushing it, it might be giving false information, l know l could pick a sector.... Might be a bad idea


  • #4
    jrmb
    Registered Users, Registered Users 2 Posts: 705 ✭✭✭jrmb


    It still sounds like it should be OK. You might have a side business and want to accept card payments, for example.


  • #5
    Cameraman
    Registered Users, Registered Users 2 Posts: 479 ✭✭Cameraman


    fearrchair wrote: »
    I went another step there and it's asking to select what industry sector l am operating in. Maybe its not a good idea even though they seem to be asking are you sure and pushing it, it might be giving false information, l know l could pick a sector.... Might be a bad idea

    When I looked into it - one of the conditions was that the card be used mainly for business spending. If it wasn't, then it could be withdrawn. I'm sure they have some ways and criteria for monitoring this. I think it's a consequence of the cashback.
    I actually wanted it as a business account, but with some personal use. So, in the end, I just went for a personal account for simplicity.


  • #6
    jrmb
    Registered Users, Registered Users 2 Posts: 705 ✭✭✭jrmb


    When I lived in France, it was straightforward to register as self-employed and get a company number, even if you were just a student giving grinds or a barber who did house calls. N26 Business is probably intended for people like that, but from what Cameraman says, I'm not sure how you'd prove it in Ireland.


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  • #7
    Cameraman
    Registered Users, Registered Users 2 Posts: 479 ✭✭Cameraman


    jrmb wrote: »
    When I lived in France, it was straightforward to register as self-employed and get a company number, even if you were just a student giving grinds or a barber who did house calls. N26 Business is probably intended for people like that, but from what Cameraman says, I'm not sure how you'd prove it in Ireland.

    I don't think you have to actually prove it - but they will monitor your spending to check it's for "business purposes". Many grey areas there - but I decided it wasn't worth it for the 0.1% cashback. Am happy with the personal account.


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