N26 Discussion & Feedback


#1058

I honestly see your fears as way overblown. The current deposit protection scheme and the solution in case of bank bankruptcy only exists since 2014.

As it stands it’s very unlikely that you’ll have a situation where deposit protection is needed. That’s because the banking system has mutualized any eventual catastrophic losses, meaning that if a bank is in trouble, every other bank in the same country has to chip in with money for a bailout, so costumers aren’t at risk of money loss.

Only if the situation is so serious that the necessary funds would destabilize the rest of the banking system, would the deposit protection be activated.

And, at least in paper, what would happen then is that you receive letter or email explaining the situation and asking for an IBAN so that they can reimburse your money. It supposedly takes 1 week to have your money back.

I’m sure you can find online all the regulations explaining how it works, this is just a summary of the multiple reports on the press here in Portugal in 2013/14 after a major bank here went bankrupt in 2013


#1059

I’m not sure I read @j06’s post as fears - more a dispassionate appraisal of the situation. Rare and unlikely such a situation might be, it’s always good to go in with eyes open, no?


(Scott) #1060

My card still not arrived I forget I must live on a small remote island!! :crazy_face:


#1061

Sorry to be the probable bearer of bad news, but it’s unlikely that card will ever arrive.

The same happened to my first card, and UPS told me it was likely lost, never to be found again.

N26 sent out a new card which did arrive this week!


(Scott) #1062

@nickh Oh I see, yes maybe that’s what’s happened to mine is now over 10 days shouldn’t really take that long, I will contact UPS for an update their side and see what there response is… thank you for giving me a heads up much appreciated :grin:


split this topic #1066

8 posts were merged into an existing topic: Maestro Cards


#1067

I’ve moved the Maestro card chat to the existing thread! (There’s also some super interesting insight from Monzo about card schemes, too!)


#1068

(Sam) #1070

Presumably the point about only being able to load the card using Euros via a SEPA transfer is incorrect? Seems like Which? haven’t even created an account themselves to test it out.


#1072

The product is launched and out of beta. Seems reasonable enough, given the review states that things are on the way. These things change quickly so a future review might well be in order. Not sure about the transfer in euros by SEPA though. :thinking:

What’s your point? You’re clearly alluding at something, but I’m afraid it’s escaped me.


(Marcel Ruhf) #1073

Well, I’d say they haven’t built muxh brand loyalty in the UK, have they? They’ve just launched a few weeks ago.


#1076

I literally don’t know what this means. :man_shrugging:


#1078

The point is that they’ve launched. The review acknowledges that there are new features coming soon. It’s not misleading, I’m not sure what the problem is?


(Graham - Mental health professional) #1080

I’m struggling to see what’s particularly objectionable in the Which article. It seems even-handed, acknowledging N26 is in a stripped-down state.

Not sure there’s anything to agitate over, @Recchan.


(Marcel Ruhf) #1081

The only part I see as incorrect, which I think is also @Recchan’s main complaint about it, is that it says you have to do a SEPA transfer in Euros, rather than a Faster Payments transfer in Sterling.


(Graham - Mental health professional) #1083

An error, undoubtedly, but nothing more than that, surely?

“Which” has an enviable reputation in all areas of consumer affairs. They’ve done a lot of good for a long time. I hesitate to rubbish them over this particular fault.


(l8n.me) #1084

To be fair, did you ever try and cancel their magazine? This was in the olden days when people subscribed to such things, i’m not even sure they do print now? Anyway, I did, and it ended up with me filing in small claims against them to cancel the subscription, and many other people had the same troubles. I’m pretty sure it even made Watchdog that the so called consumers association employed the dodgiest practices known to man to keep getting money out of people who wanted to cancel.

Which is not to say they don’t do much good, but sadly they are, like all organisations, shills to the almighty pound.


(Graham - Mental health professional) #1085

Hmmm, well that’s them knackered then. Have to say I found the subscription wrinkle-free, even though I didn’t renew.


(l8n.me) #1086

That’s always the way though, eh?! Some of us sail through with a great experience and would recommend to all, other’s of us end up having an experience as enjoyable as experiencing dysentery while having root canal surgery.


(Dave) #1087

I recently cancelled a Which? subscription simply because I wasn’t finding the time to read the magazine, and it was easy enough to cancel with a single email. You actually have to phone them if you want to get it reinstated!

I did find that some of their reviews have errors because they make assumptions.

For example, they claim(ed) that as GiffGaff run on the O2 network that you are going to get the same coverage and speed on your phone as if you were on the O2 network. Coverage, yes, but speed, no. The bandwidth you get on GiffGaff is lower despite being on the O2 network, and this was frequently mentioned on the GiffGaff forums where people claimed that 4G wasn’t giving them anywhere near the speed you would expect during peak hours. Clearly in that case the knowledge of how mobile virtual network operators work is lacking.

I suspect that the N26 review is just that, a review of information and not one of their well known “tests”. Somewhere along the line they’ve read some incorrect or irrelevant information regarding the currency of the account and how you pay in to it.

They do some very good work, so it’s fair to cut them some slack I guess.