I wonder, seeing as their debit card is not a debit card, will it allow for cash back?
THE STATUTORY DEPOSIT PROTECTION SCHEME
German law requires a statutory protection of 100,000€ per depositor in case a bank is confronted with economic difficulties. This amount is endowed mandatorily by German private banks and is covered by the “Entschädigungseinrichtung deutscher Banken” (Compensation Scheme of German Banks).
THE VOLUNTARY DEPOSIT PROTECTION FUND:
Deposits exceeding 100,000€ are additionally protected by the deposit protection fund of the Bundesverband deutscher Banken e.V. (‘BdB’),an association representing private banks established in Germany. This voluntarily established fund protects the deposits at our partner bank up to several million euros per depositor.
It probably is I am just checking. In Ireland you have to be either a credit institution or a deposit agent authorised under the investment intermediaries act to take deposits. Number26 is neither. I understand that it is partnering with Wirecard Bank but my understanding is that they can't accept deposits in Ireland (as an agent of Wirecard Bank) unless they have been appointed by the Bank to do so under the investment intermediaries act. I don't see them on the Central Bank register of authorised firms therefore I am assuming that they are not taking deposits.It's a bank account - you get a IBAN. Number26 relies on a banking license from Wirecard Bank. Your money is deposited with Wirecard Bank and you are fully covered.
Is there any facility for cheque lodgement?
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