N26 Discussion & Feedback

(Marcel Ruhf) #1783

Don’t think they’d need to do that.
Excluding those who are fintech early adopters, those signed up currently seem to be happy to wait until the product matures, if their Twitter feed is anything to go by.

(NM) #1784

I was judging by the anger on here.Especially after the N26 metal issues

(Marcel Ruhf) #1785

Absolutely, but we need to remember that this community doesn’t represent the average population who aren’t as engaged in fintech as we are. We have the privilege of having been spoiled by the likes of Monzo and Starling.

(NM) #1786

True also I think if I was in Germany and needed to deposit cash I would N26 as you can deposit in supermarkets

(Splodf) #1787

Important to remember that without CASS people who aren’t as interested in Fintech aren’t likely to switch.

You’d probably give your secondary account a bit more time and leeway to develop then you’d give your primary account.

(Marcel Ruhf) #1788

To be honest, I’m not sure.
Most people I know (even those using a fintech account as their primary account) don’t see the need to use CASS, they’ll just keep their accounts open and move stuff over manually. Also, if you look at the switching stats, you’ll see that they are tiny compared to the proportion of account holders.

(NM) #1789

I used CASS to close a legacy halifax account as otherwise it would have been an absolute pain to do :joy:


I closed a 20 year old Halifax account that way too :sweat_smile:

(Marcel Ruhf) #1791

Yes, it’s a brilliant way to close dormant accounts.

(NM) #1792

It was a “go in store and close” kind of deal and I was like nope. Does anyone actually use N26 at the moment?


I still use RBS as my main account and have been using N26 and Monzo on an off as spending accounts. If I go full Monzo, I would probably switch to N26 as my spending account. Then again, I may use Starling as my main account and Monzo as spending. The choices we have today!

(Splodf) #1794

I’ve been trying to convince my wife to do this with a HSBC ISA account. It has 4p in it.

HSBC won’t do anything less she goes into branch, but I suspect a ISA Transfer would go through?

(NM) #1795

Potentially, I’d try and see what happens.

(NM) #1796

yeah I use Monzo for spending although I think I’ll move towards dozens but stay away from n26 as they seem confused


If you were in Germany you would have other banks that let you deposit cash at ATMs :slightly_smiling_face:

(NM) #1798

Is that legacy banks or fintechs as well?


Legacy banks

(den50) #1800

From all the things I’ve read on this thread, N26 is just a bubble.


I’m sure if you started a thread on Aston Martin’s website about BMW, you would find the same :grinning:


FWIW, I personally feel the biggest feeling around N26 in the UK has been one of disappointment.

As FinTechs go, they are probably as established as anyone, have a decent offering in Germany and other places in Europe and I think people felt they would really make waves in the UK (me included) as soon as they landed.

The reality is, they have come with a very below average offering (worse than their European offerings and worse than the FinTechs we already have in the UK) and they absolutely butchered their UK launch for anyone who was paying attention.

The 3 biggest stand outs to me being…

  1. Hard credit checking everyone despite saying they wouldn’t (this has been downgraded to a soft check).

  2. A very bumpy sign up process from initial documentation to card delivery (mine took weeks).

  3. Missing the pricing mark on their premium products (metal and black), both of which are only value for money to 0.0000001% of people (stat made up of course, you can judge for yourself).

Banking in Europe isn’t the same as the UK, and it would seem people are happy (or have to) pay for their bank accounts. Whereas the UK public simply expect their bank to be free.

I’d be surprised if N26 misjudged the public opinion on that one, but who knows.

That being said, I think N26 definitely has some legs in the UK. At the end of the day (and I’ve said this many times before), they won’t be judged by the 1% of people who followed their shoddy launch into the UK market after a few months.

They’ll be judged by the 99% of people who finally hear about them after many years operating in the UK market.

I’d hazard a guess that 99% of people in the UK currently don’t even know they exist, which probably suits N26 right now.

They have a huge amount of work to catch up with Monzo/Starling over here, but I’d still keep my eye on them considering the European success they’ve had.