N26 To Reenter Irish Current Account Market

[Lightning]

N26 (formally Number 26) will reenter the Irish current account market shortly for new accounts.

1 largely-free product. 1 paid product.

The paid product will be called N26 Black and costs 5.90 EUR per month with day-to-day banking included and an "comprehensive" insurance product. Available for existing customers now and new customers in Q1 2017.

The free product (5 EUR per year including government duty) will also be re-available for new customers early next year.

I will update the best buys once the product are available to all.

Irish Times article on this here. N26 blog post on this [broken link removed].

N26 will also enter the deposit market soon.

 

[elcato]

Is the default option for existing customers the free one or do we need to specify ? I can't recall being asked for an option and I was unaware having read the last email from them that the black was over a fiver a month.
btw - you need paid access to that IT link above.

 

[PaddyBloggit]

btw - you need paid access to that IT link above.

It works for me and I don't have a subscription. Perhaps you have gone over your weekly limit?

 

[elcato]

I've now noticed they are starting to charge fees for foreign currency transaction so decided to try and transfer the last of my money out prior to closure. I'm getting an unpaired device error even though my phone has not changed. The cynic in me suspects they are having loads of closures so they're making it hard. I don't have the card to hand to unpair the device and start again. Anyone have any problems cancelling online ? Their FAQ now suggests that you need to send them a written request for closure. I'm not happy with these guys and it appears loads of others aren't either.

 

[Lightning]

Is the default option for existing customers the free one or do we need to specify ?

Default is free. (5 EUR per year)

 

[Aisling]

Just went on their website and they have a full list of all charges available if you click on Legal Documents at the bottom of the webpages.

Looked at opening an account with them and was a little concerned that they hadn't even setup/formatted their documents or website for the Irish market i.e. Overdraft of €2.000 instead of €2,000. One other problem is that they say the advertised charging structure applies if you have a German address, maybe a small oversite on their behalf but their compliance dept needs to get this stuff right.

You might think I'm being at bit pedantic here but I went further and went through their terms and conditions.

I would be have my concerns here, whilst they provide terms and conditions in English they state that if there's a difference in the German version they apply. I don't speak German so what am I signing up for.

Extract from terms and condition below and copy uploaded:

The following translation is provided for the customer’s convenience only. The original German text of the respective Terms and Conditions is binding in all respects. In the event of any divergence between the English and the German texts, constructions, meanings or interpretations, those of the German original shall govern exclusively.

Sorry should have said on a more positive note given resolution of the issues it does sound like a fairly good deal. I'm think bank charges are ridiculous and I also have travel insurance so it would save me a nice few quid. Just be sure you have the same level of cover on the new policy.

 

[IrishHusk]

Is the default option for existing customers the free one or do we need to specify ? I can't recall being asked for an option and I was unaware having read the last email from them that the black was over a fiver a month.
btw - you need paid access to that IT link above.

Incognito mode

 

[icb]

From 30th of November new signs ups for basic N26 account will have a €2.90 fee per month to pay.

"Hey,

Good news: final preparations for you to join N26 Bank are almost complete. Thanks for your patience since you signed up for our waiting list.

We’ll send you an email this week with directions about how to open your N26 bank account.

If you successfully verify your identity , you will get your N26 account and Mastercard for free. It’s exactly what you wanted when you first joined our waiting list.

If you verify your identity after that date, you will get your N26 account for free, and you can add the Mastercard as an option for €2,90/month or €29/year based on our new policy for users outside of Germany and Austria.

See you at N26 Bank!

Your N26 Team"