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N26 bank student sign up

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  • 16-04-2024 12:32pm
    #1
    BraveDonut
    Registered Users Posts: 1,056 ✭✭✭


    My son was approached on the steps of his college a few years ago by this N26 crowd to open an account and they would give you €20. He spent the €20 and thought no more about it.
    They started sending him emails to say that the account was overdrawn by 12 cent due to some fee. Then they said it as €3 due to having to manage the overdraft.
    Bering a poor student, he just ignored the emails.
    Now they say that his case has been referred to a debt collection agency (coeo Inkasso GmbH) and they will need to pay approx €60 to settle. Threat of a lawsuit

    Anyone experienced something like this - will he have to pay?



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    #2
    StaticNoise
    Registered Users Posts: 2,420 ✭✭✭StaticNoise


    N26 is a legitimate bank. He opened a bank account. He likely used a card associated with the account, and therefore is liable to Government stamp duty.

    Pay the debt. It was foolish to ignore.

    Just my two cents - not an expert.



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    #3
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,306 Mod ✭✭✭✭Jim2007


    N26 is a correctly licensed bank and your son is an adult who signed a contract that is being enforced…. And he needs to learn the lesson and deal with this matter because it will continue to accumulate fees and charges in accordance with the bank's fee schedule until he sorts it out. He needs to go through the paper work and understand his rights and consequences, then figure out how he wants to deal with it.

    I am familiar with COEC, but I have no way of known how far they will go in trying to collect the sum, but if the account continues to collect charges at some point it will become worth their while to chase it down.



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