Does N26 report to the Irish Credit Bureau?

N

nicelives

Registered User
Messages
111
Hi, I recommended N26 to my housemate as she was looking for a lower cost banking solution. Unfortunately when it asked he what colour card she wanted she chose Black as there was no mention of fees linked with the choice.

What with the time for the card to arrive and things happening in life, when she went to transfer her old account over she noticed she was being charged close to 10 euro monthly fees. She contacted them to say that she had applied for the wrong account, that she hadn't used it yet and could she transfer to their standard lower cost account. At this stage it was over 20 days since she had applied and they refused, even when she said she'd pay the fees for the time she had their premium account. The only option after the initial 14 days they say is to pay for the entire year which is a bit disappointing and rigid (It's 30 days in the UK)

Having moved it up the line she still gets the same copy and past answer that she has to pay for the year so she is obviously going to stick with PTSB and not use N26 after this bad first experience.

My only question is: they keep on charging her account fees of 9.90 a month so her account is -19.80 at the mo after 5 weeks. I know it's a virtual account that was set up by mistake and there's no signed contract but can the minus figure that N26 keep adding to be reported to the Irish Credit Burea and affect her credit rating?

Thanks
 
I'm not sure how she signed up without seeing the fee as it is highlighted fairly clearly when myself and my partner did it. As far as I know they don't report to the Credit Bureau (at the moment). They do have plans to start offering loans etc. so they may start reporting to them in the future.

It may be a virtual account but the fees are very real. The are a licensed bank and the fees were signed up to so I doubt they will go away. Instead of paying fees in PTSB and in N26 why not move to N26 as planned and make use of what they are being charged for and downgrade the account after the year?
 
AFAIK

No trader, N26 in this case, can share a record of an unpaid fee with anybody unless the customer has specifically agreed. Such agreement may of course be included in the Ts&Cs.

The amount is not a loan, it is an unpaid and presumably disputed fee. I do not think it could be recorded by ICB not the new CCR
 
Ah thanks for that, I thought it was clear on a web browser as well though she signed up via the app so maybe less screen space so may have been less so. Thanks also for the info regarding reporting to the ICB.

Have since noticed in their faq that if a premium card is in negative balance for more than 60 days then it gets demoted to a standard card and she just has to pay the two monthly charges up to that date plus two charges of €3. So it looks like the downgrade that she was asking for and they said wasn't possible actually happens automatically after 60 days if she does nothing. Unusual but hey.
 
nicelives said:
Ah thanks for that, I thought it was clear on a web browser as well though she signed up via the app so maybe less screen space so may have been less so. Thanks also for the info regarding reporting to the ICB.

Have since noticed in their faq that if a premium card is in negative balance for more than 60 days then it gets demoted to a standard card and she just has to pay the two monthly charges up to that date plus two charges of €3. So it looks like the downgrade that she was asking for and they said wasn't possible actually happens automatically after 60 days if she does nothing. Unusual but hey.
Click to expand...

Its fairly clear in the App that its a paid account too.
Your friend just wasn't paying attention :)
 
kceire said:
Its fairly clear in the App that its a paid account too.
Your friend just wasn't paying attention :)
Click to expand...
I am a very engaged with tech and I can say that this exact same problem happen to me. And NO the payment was not clearly displayed at all. I signed up from a promotion that brought me to the app and no once along the sign up process was the €9.99 pm shown. I contacted customer care and offered to pay the month that I had used, even though I hadnt used any of the features or registered the card within the app. The customer service were very 'copy and paste' and after several requests to speak to the manager they end the chat (in the app chat).

During all openings of the account, specifically the Black card, the pricing is NOT clear at all. I am sticking with my Revolut card and find them a much better company and app to use.
 
I just ordered a replacement card on Revolut for one that's about to expire and it's the same story: at every step they try to trick you into inadvertently subscribing to one of the premium options. For example, if you pick "fast delivery" there is a discreet notice a few screens down the line that you are about to subscribe to the premium account. Just be careful at every step. It's sad to see Revolut adopting some of the business practices of the banks they set out to "disrupt."
 
You must log in or register to reply here.
Back
Top