New bank in Irish market: Number26

SEPA transfers should be charged the same regardless of the country. i.e no additional charges.

In theory, SEPA transfers arrive the next business day.
 
I note that non EU currency withdrawals are charged at Mastercard exchange rate. How does this compare with the exchange rates at Tesco or Visa?
 
I did a bit of digging when in the UK and the rate was better than my own (Ulster Bank) debit card (137 compared to 141 euros to 100 sterling). My credit card (AIB visa) gave a rate of 138 but given that I was hit with a cash withdrawel charge of €2.50 it didn't fare better. I guess a preloaded CC may have been quite close to the rate but just slightly higher in my case.
 
Hello,

I have read that Sky TV will not process direct debits originating from Number26, apparently.

Any other service providers also failing to process direct debits from this Bank, as obviously this is a consideration if we are going to consider moving ?
 
By law, all companies, operating in Ireland, should accept SEPA direct debits for Euro payments. It seems that some companies are not adhering to the law including Sky.

I will add a note on this in the best buy thread.
 
Brendan Burgess said:
OK, what are the downsides of this account?

1) You can't get an overdraft
2) You can't lodge cheques

Any more?
Click to expand...

3) A small number of Irish companies are refusing to set up direct debits to non-Irish bank accounts. This is against the law but it is happening in a small number of cases.
4) No branches.
5) No cash lodgement method in Ireland.
 
CiaranT said:
3) A small number of Irish companies are refusing to set up direct debits to non-Irish bank accounts. This is against the law but it is happening in a small number of cases.
4) No branches.
5) No cash lodgement method in Ireland.
Click to expand...

CiaranT,

May I ask you please, if companies refusing to set up direct debits are breaking the law, who is responsible for enforcing this law ?

Regarding cash lodgements, while it would not be cheap I wonder could a person lodge cash via Western Union (or an alternative service) if it was ever necessary ?
 
MrEarl said:
CiaranT,

May I ask you please, if companies refusing to set up direct debits are breaking the law, who is responsible for enforcing this law ?
Click to expand...

The Central bank of Ireland, the ECB, the Financial Ombudsman and the courts. In this case, both the CBI and the Financial Ombudsman need to be contracted in the first instance.
 
CiaranT said:
3) A small number of Irish companies are refusing to set up direct debits to non-Irish bank accounts. This is against the law but it is happening in a small number of cases.
4) No branches.
5) No cash lodgement method in Ireland.
Click to expand...

Lack of an app for Windows is another. I know not a large majority use Android or iOS but there are a few of us windows phone users out there.
 
[broken link removed]

This is unbelievable - they are now advising that they will collect the €30 Irish Government Stamp Duty. Elsewhere they are still calling it a debit card and no matter what it's called it does not offer any credit limit whatsoever.
 
It is clearly a mistake to be applying the credit card stamp duty to a debit card. Hopefully, this is sorted sooner rather than later.
 
Number26 have changed the stamp duty fee from €30 to €5.

It is still incorrect, it should be 12 cent per ATM transaction up to an annual cap of €5.
 
I can confirm the cashback facility is available with the Number26 Mastercard and the mobile app is excellent.
 
Wirecard stock down 20% plus on foot of short seller report alleging fraud (funneling gambling proceeds to US).
 
I signed up this morning.
The "verify your identity" bit on their app via video link was a bit strange, but very efficient.
 
"Hi Theresa,

The Irish Government requires banks in Ireland to collect certain duties, including duty on debit cards. Therefore, going forward your NUMBER26 MasterCard Debit Card will be charged with 5 Euros annually, including stamp tax duty on debit cards. This charge will be applied and automatically deducted from your account in January, always for the previous year. However, for the year 2015, no charges will be applied.

We appreciate your using NUMBER26 and hope you understand our need to comply with this mandatory government regulation.

Have questions about this newsletter? Simply contact our support at support@number26.de.

Let's change banking together!"

Is the above legal? It's certainly not operating the new ATM withdrawal tax as per the procedures from Irish Revenue.

I'm stunned with this e-mail.
 
Interestingly, the Number26 Support Centre article has now been updated and the bit about the stamp duty now reads:-
  • Stamp duty - customers who reside in Ireland are subject to a government stamp duty on their debit card of up to 5,00 € per year
Seems like a good sign that they are getting their act together about it.
 
Another case where Number26 accounts (or any other non-Irish bank account) aren't being accepted is the Leap Card auto-top up service. Apparently the NTA are using some hack called 'DEFT' from a company called 'Ardbrook' for SEPA compliance instead of actually spending the money to upgrade their systems properly. :(
 
You must log in or register to reply here.
Back
Top