N26 Discussion

Closed mine today. No use to me.

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How is everyone feeling about the N26 UK product now that it’s been out for a while? Have there been any meaningful product updates? Would be interested to know… :grinning:

I’ve not used it personally, but I do like the minimalist app look

The wavey hand gesture to obscure your info feature is very good.

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well for one the direct debits come out at 9am every time for some reason

Not much of an update, they’ve tried to copy :monzo: on having different app icons to choose from…and failed

Chat is very fast but lacking the human element, i.e. no smileys, etc.

I’ve signed up to Metal in Jan but they keep trying to make me pay when at the time you can sign up and get 2 months for free. Had to tell them to give me my money back 3 times in the last 2 weeks

You may have missed that by agreeing to two months free, you were also signing up to a 12 month contract to N26 metal

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I’m currently going through an ombudsman complaint about N26 because of their undisclosed 12 month commitment on the metal card. They do not disclose the 12 month term during the registration process if you you sign up via the Metal page[1], nor do they disclose the annual fee in their Fee Information Document, which is a legal requirement. The only place that the commitment is disclosed is in the terms and conditions[2].

I went through their internal complaints process and they refunded my first payment but refuse to terminate the contract early. They do include a 30 day cancellation period, I contacted them hours into my 31st day (unaware I was in a contract or that I had a 30 day limit on cancelling) and even then they won’t cancel my contract[3].

I’m pretty disappointed in them. During my (long) conversation with their support agent he kept reiterating that they do explicitly disclose the commitment during the registration process, so each time he said that I went to their website and provided screenshots to him of how it is not disclosed in the way he said it is… eventually he accepted that it had not been disclosed but still my contract has not been cancelled.

Since then they haven’t updated their Fee Information Document, nor have they changed their registration process. They’re clearly aware that there are customers registering without a clear understanding, financial products cannot have undisclosed terms hidden in their terms and conditions, it’s simply not permitted. I do not understand why they haven’t corrected this and cancelled my contract, now they’re going to go through an expensive complaint procedure that they’re going to lose. I’m very confused by their decision, it simply doesn’t make sense to me and leaves me wondering about their decision making.

[1] Note that if you go through the normal registration process and then select to be upsold on a Metal account then you’re told about the commitment, but that doesn’t happen with people who sign up via the Metal page itself because they’ve already agreed to the upsold account.

[2] I acknowledge I should have read the terms and conditions completely but I’ve come to expect that the advertising + Fee Information Document offer a complete picture of what I’m agreeing to given that is what is required by law. I don’t mind swallowing the cost of a mistake I’ve made if it was my fault but in this case they’re clearly not complying with the law and aren’t making any effort to rectifying that.

[3] They did offer to revoke it after my complaint by mistake but that offer was rescinded when they discovered I was a few hours into my 31st day when I submitted my request.

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Got to admit, it was hard to find on their site, but they do sort of mention it

Either way, they don’t mention on their site about a cooling period which they should really offer (this doc doesn’t help them any further https://docs.n26.com/legal/01+DE/07+Metal/en/01metal-pre-contractual-information-en.pdf page 2)

Was so impressed, I closed my N26 account this week.

Monzo offers me what I want/need.

N26 offered me nothing new.

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Having finally moved to Monzo for my salary and bills after my house purchase, I have had to switch my spending account (which was Monzo) to N26, mainly due to Apple Pay. (When Monzo finally releases direct debit withdrawals from pots I would probably go full Monzo.)

As a day to day spending account, it is fine. I like the clean design and have had no problems except the hard credit check. I allocate my 2 pots as a reserve account and an Amex collection pot.

It looks like nothing much has really changed in the last few months so I couldn’t move to it for salary etc. but I probably wouldn’t unless it decided to be competitive with Starling or Monzo.

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Out of interest, why can’t you continue to use Monzo as your spending account?

Probably like me, and wants to keep the ‘salary and bills’ account separate from ‘discretionary spending’. Two accounts that way, one advantage is you can’t accidentally spend money that you meant to keep back for bills, for example.

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Fair enough

I just use Pots for all my committed spend , works a dream

I would love Monzo to offer multiple accounts for just this reason. Maybe 25 like bunq

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Starling offers UK customers the ability to have both a GBP and EUR account

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Not yet, but it is coming.

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And similarly:

I worry that stories like this, and those about Revolut, might drag down all the fintechs - whether or not they’re actually true. :pensive:

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Well, I obviously can’t comment on the fraudulent stuff, but I have been incredibly underwhelmed with N26 as a whole.

Perhaps it was the lofty expectations, or that they’d been successful (to my knowledge), throughout Europe… But their UK roll out has been Micky Mouse stuff.

After their “hard search” debacle, I asked for my email/in app chats to be sent to me via email.

They told me it wasn’t possible… (??)

They then said they’d sort something out - This was back in January.

This week, I received an A4 envelope in the post, from Germany, which contained 8 pages of printed chat logs…

What a complete waste of time and money, when they could have simply emailed it to me…

So yeah, if others had the same experience with N26 (or Revolut), I imagine the overwhelming feeling would be “Glad I stuck with high street bank X, and didn’t move over to a FinTech properly…”.

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