# N26, opinions?



## Ndiddy (21 Sep 2020)

Good morning,  was searching for thoughts on N26 on AAM and was surprised to find that there were none!  Does anyone use them and what do they think?  I was comparing Revolut and N26 and I would have thought N26 was a real contender considering that they are an actual bank with deposit coverage, free card, free foreign spending, etc.?

Any thoughts would be great. 
Thanks


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## Ceist Beag (21 Sep 2020)

Ndiddy said:


> Good morning,  was searching for thoughts on N26 on AAM and was surprised to find that there were none!


None? Does this key post comparing revolut and n26 not contain some thoughts?

There are also threads discussing N26 here and here


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## Ndiddy (21 Sep 2020)

ah perfect thanks. when I did a search for N26, it didn't pull up. grand


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## Ceist Beag (21 Sep 2020)

The search function in AAM is a bit hit and miss I find - Google using "n26 site:www.askaboutmoney.com" works better.


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## money_man (26 Sep 2020)

Im a big fan of N26. Only downside compared to revolut is you cannot do instant bank transfer from your Irish account


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## Marc (26 Sep 2020)

We prefer N26 for foreign nationals who relocating to Ireland as set out here

[broken link removed]


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## tomdublin (26 Sep 2020)

I don't understand the the logic of the advice on this website: what difference does it make if Revolut moves to Dublin?

"Whilst Revolut has the edge in terms of functionality, they are moving their operations to Dublin and therefore in order to benefit from Remittance basis planning, we recommend opening an account with German Bank N26."


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## Paul M. (7 Oct 2020)

money_man said:


> Im a big fan of N26. Only downside compared to revolut is you cannot do instant bank transfer from your Irish account



They've actually added the ability to do this now. It's the "Credit or debit card" option under "Add money".


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## shweeney (8 Oct 2020)

Paul M. said:


> They've actually added the ability to do this now. It's the "Credit or debit card" option under "Add money".



brilliant, will save me having to dig out my AIB card reader every time.


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## Setanta12 (8 Oct 2020)

Using N26 for three years now overseas. No issues. I don't make many cash withdrawals.


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## so-crates (8 Oct 2020)

Paul M. said:


> They've actually added the ability to do this now. It's the "Credit or debit card" option under "Add money".



I did it once fine but the second time I tried it, it said that there was a charge for it so I have reverted to putting money in from my BoI account.

To the OP, I have the free version of both, I couldn't decide which and I figured it wasn't expensive enough to not try both! I like that on the free Revolut you can have 5 vaults (there are only two spaces on the free version of N26) and I like the option of having different currency purses, that I found useful visually and for keeping track of what I spent, the other Revolut plus for me is the instant (and free) option to top up. 
I prefer the N26 app though, it is less about the gimmicks (crypto currency, advertising, etc) and more about banking, I also found it more intuitive to use. I also think the analytics are presented better. Between one thing and another, I haven't used either much abroad but N26 is (marginally) better value in terms of currency exchange. Revolut applies the government stamp duty on cards by charging you 12c for it on each withdrawal which I found a bit off-putting. I am also more comfortable that it is a bank and it is within the EU. Am going to shuffle all but a low balance out of my Revolut account in December and wait to see how the end of the transition period lands. I don't think there will be any major issue but I'd rather not put money on that over Christmas!


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## money_man (9 Oct 2020)

Paul M. said:


> They've actually added the ability to do this now. It's the "Credit or debit card" option under "Add money".


You got me excited, but it looks like there is a 3% fee. The fee makes sense because there are charges for card transactions so Revolut cant do it indefinitely either. But i'll take it while they are doing it!


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## Zebedee (10 Oct 2020)

If you have a revolut account, you can use debit card to fund that account and then use instant SEPA to transfer to N26. N26 account will be credited immediately and you can avoid the 3pc.
(No Irish banks do instant sepa as far as I know).


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## fayf (12 Oct 2020)

Have both Revolut & N26 in recent months.

Getting annoying notifications from Revolut. Its not an issue with N26. 

Have had to use chat support on both. N26 was far superior for support, knew exactly what they were at, solved any issues quickly and without delay.

Revolut support chat, had to keep checking with other people, drawing out the process to an unacceptable length of time, and the overall experience was quite amateurish.

Setup all DD’s on N26, had to fill in a non Irish bank paper form for 2 utility providers, no issue there, and its up an running, and Vodafone were not able to process a German IBAN, but i could still use the N26 mastercard.

will continue to use both, but can see me dropping Revolut in time, and theres still a slight nagging feeling about them not being a bona fide bank.


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## Zebedee (12 Oct 2020)

I use revolut pretty much as a “pre paid card”. Fund (no more than a couple of hundred) it to buy stuff on internet. I wouldn’t treat it as a “conventional bank” (ie put my salary into it) even if it was licensed as a bank unless things changed a lot including:

- Customer service
- snafus on anti money laundering (money locked up for weeks - report
- work culture/staff turnover issues - can’t be good for any business. 
- The business actually making money

That said they have been very innovative and have come up with some great features. If they got the above right (and had a banking license) I would consider it (and pay a basic fee).


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## so-crates (13 Oct 2020)

Zebedee said:


> If you have a revolut account, you can use debit card to fund that account and then use instant SEPA to transfer to N26. N26 account will be credited immediately and you can avoid the 3pc.
> (No Irish banks do instant sepa as far as I know).


Oooh, I hadn't considered bunny-hopping cash through my Revolut! Must try that, thanks


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## Hooverfish (13 Oct 2020)

Just wondering if N26 is a feasible way for my husband to get his monthly UK state pension in future? 
Currently it gets paid into his UK Barclays account but it looks like we may not be able to continue doing that if there is a no deal Brexit. Paying it into his Bank of Ireland current account would result in losing €5/month in fees as far as I can work out from their complicated leaflet, though I haven't yet double-checked if that is the correct charge with BOI.
Does anyone currently get a UK state payment into their N26 account? Is there any cost?
Thanks for any advice - I think even he would consider the pain of filling in the relevant forms, if it saved the cost of a pint of Guinness a month...


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## Paul M. (13 Oct 2020)

Hooverfish said:


> Just wondering if N26 is a feasible way for my husband to get his monthly UK state pension in future?



I don't think N26 would be an option, they don't accept SWIFT or GBP transfers:- only SEPA transfers and only in EUR. https://support.n26.com/en-eu/payme...awals/transfers/why-did-my-sepa-transfer-fail


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## SDMXTWO (21 Oct 2020)

I use Credit Union as bank and transfer online to N26. Transfer early in morning and usually there by 2-3pm. No charges, no fees by either. AIB / BoI have'nt been seen here for years.


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## mmclo (21 Oct 2020)

Hooverfish said:


> Just wondering if N26 is a feasible way for my husband to get his monthly UK state pension in future?
> Currently it gets paid into his UK Barclays account but it looks like we may not be able to continue doing that if there is a no deal Brexit. Paying it into his Bank of Ireland current account would result in losing €5/month in fees as far as I can work out from their complicated leaflet, though I haven't yet double-checked if that is the correct charge with BOI.
> Does anyone currently get a UK state payment into their N26 account? Is there any cost?
> Thanks for any advice - I think even he would consider the pain of filling in the relevant forms, if it saved the cost of a pint of Guinness a month...


But Revolut might be afaik it's UK based


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## Hooverfish (22 Oct 2020)

mmclo said:


> But Revolut might be afaik it's UK based


Despite a no-deal Brexit? Given that the initial problem is around how UK based firms can offer banking in the EU in 2021. I guess we will all have to wait and see...


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## Paul M. (22 Oct 2020)

Hooverfish said:


> Despite a no-deal Brexit? Given that the initial problem is around how UK based firms can offer banking in the EU in 2021. I guess we will all have to wait and see...



They've a Lithuanian e-money license in addition to their UK e-money license and have transferred their Irish accounts to their Lithuanian business. https://www.rte.ie/news/business/2020/1001/1168816-revolut-moving-irish-accounts-to-lithuania/


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## Hooverfish (24 Oct 2020)

Paul M. said:


> They've a Lithuanian e-money license in addition to their UK e-money license and have transferred their Irish accounts to their Lithuanian business. https://www.rte.ie/news/business/2020/1001/1168816-revolut-moving-irish-accounts-to-lithuania/


Crikey. I read that article - for which much thanks Paul M. - two IBAN changes! I think we'll sit on the current situation and see what happens (I'd be fairly hopeful Barclays and Santander have enough Irish customers and our regulations are sufficiently similar to the UK to make it worth their while to get authorised here?) but I will put in an enquiry with the UK state pensions people to find out whether they can pay in to Revolut.


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## fayf (25 Oct 2020)

All going well for me with switch over, but was speaking with a friend who has recently lost his job, and he says he can’t get his Job Seekers Paid into his N26 Bank account. He said when he entered the details in the application, it accepted the DE Iban, but it said “foreign” bank accounts are credited monthly. He called them and they sounded very unsure about non Irish Bank Accounts.

Strangely, when they collect their payment at the Post Office- they can’t lodge the funds to their N26 Debit card, and so, have to take the cash, or lodge to an Irish bank, sounds very strange to me. 

I am wondering, if this bizarre restriction, also applies to Child Benefit


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## Hooverfish (21 Dec 2020)

Just updating with information that it looks like Santander and Barclays will be continuing to support Irish-resident customers with UK bank accounts for a while... https://www.irishtimes.com/business...ks-to-stay-open-for-irish-customers-1.4442059


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## Saavy99 (21 Dec 2020)

The link is behind a paywall.  I


Hooverfish said:


> Just updating with information that it looks like Santander and Barclays will be continuing to support Irish-resident customers with UK bank accounts for a while... https://www.irishtimes.com/business...ks-to-stay-open-for-irish-customers-1.4442059



I was of the understanding it was business accounts that would be affected post Brexit and personal.accounts would not. Can anyone clarify?


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## horusd (21 Dec 2020)

Saavy99 said:


> The link is behind a paywall.  I
> 
> 
> I was of the understanding it was business accounts that would be affected post Brexit and personal.accounts would not. Can anyone clarify?




*Copied and pasted some of the article. *


Despite the imminent end of the Brexit transition period, customers based in the Republic will be able to keep their bank accounts open with most UK lenders after end of the year.

With the Brexit transition period concluding at the end of December, some British banks have written to their customers across the EU informing them that their bank accounts will be cancelled. This is because rather than simply passporting their services across the EU and European Economic Area as was possible up until now, banks are finding that they have to apply for country-specific licences in order to provide certain services.

From January 1st future co-operation between the EU and UK will likely be based on “equivalence”, whereby each regime recognises the other. This is not as comprehensive as passporting.

A lack of a UK bank account can lead to problems for people who may have previously lived in the UK, and have a pension or mortgage going in/out of a UK bank account.




Lloyds Banking Group, which includes customers of both Halifax and [broken link removed], is understood to be closing retail accounts for some customers based in the EU. However, it’s understood that no Irish personal current account customer of the banking group will have their account closed.

Similarly, Barclays has written to expat customers in [broken link removed], [broken link removed], [broken link removed] and [broken link removed] to tell them that their savings and current accounts will have to be closed. However, a spokeswoman for the bank has confirmed that it has not asked Irish personal customers of Barclays to close their current accounts.

Should this change in the future, the spokeswoman said: “Where we make the decision to no longer offer products and services we are giving our customers as much notice as the local regulators allow, and where possible we are providing our customers with six months’ notice about the planned changes.”



Britian’s largest retail bank, HSBC, says that both UK expats and EU citizens living in the EU will still have access to a UK-based HSBC personal account as long as it shows activity at least once every 12 months.

The other Big Five UK banks – Ulster Bank parent NatWest (formerly Royal Bank of Scotland) and Santander – say they are monitoring the situation.
....... Digital payments start-up Revolut, for example, recently moved Irish accounts from its UK e-money licence to a similar licence in [broken link removed], from where it can passport into Ireland.


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## Saavy99 (21 Dec 2020)

Horust, thanks for that.


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