N26 Discussion

Several weeks?! Before there was even a reply. I think the flip side is that there is a compare and contrast exercise between Monzo and the other Fintechs, with the argument being is Monzo isn’t any Fintech it’s a__(insert Hyperbole)

Surely Monzo is scared that the likes of N26 and Revolut are damaging the brand image of FinTech’s as a whole?

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I tested the waters with N26 and the BACS hit the account at 12am. I transferred it out again and won’t be using it until I’m confident.

They don’t fill me with confidence. They don’t have saved payees and SO yet but their is just something that doesn’t feel right it’s a shame because their Euro offering is a lot better but I suppose we got to be patient.

N26 sent me an email, addressed to someone else, about their account being shut down.

I had an account with them when I lived in Ireland and was singing their praises, but I’m closing my UK account with them now. The total lack of communication when they had issues with cards not working a couple of months back, along with other issues I’ve had, means I just can’t trust them with my money.

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I think that’s a serious breach of Data protection

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Worrying I think I’m closing it too

Yeah. I’ve replied to them about it asking for an explanation but have not had a reply yet in over a week.

I really should just close the account - I don’t use it and it’s really not very good but I don’t know why I’m hesitant to do that.

I personally think when companies stop replying or being slow it’s normally time to quit them

Another issue I’ve got with N26, debit card refunds, quietly go back onto the account. No notification, nothing, just adds to the balance like the transaction never happened 5-10 days later.

I’ve noticed Monzo add the refunds normally same day or next few days at most with a notification.

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Looks like N26 have found a country manager for the UK, and that they’re growing a dedicated UK team:

I have had a N26 account since it launched in the UK but it has had no major updates and I cant see me moving from Monzo anytime soon.

Does having multiple banks open affect my credit rating?

Murky subject… Yes and no is the answer.

Right now, N26 doesn’t report to any credit agency, so it’s not affecting your credit rating.

As soon as they do, it’ll show on one or more of the 3 credit agencies (CRA’s).

If you aren’t going to use it, I’d probably close it down now.

I will get it closed down just to be safe then.

I just didn’t want to close it down, then a month late N26 bring out new features and for me to have a cooling off period and unable to apply again.

Thanks for your response.

Impossible to know what they’ll bring out, but so far, they are a long way from Starling and Monzo, so I don’t think you’d be missing out on anything!

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Closed mine today. Feels good. Cause otherwise I’d forget about it. And they might have a security breach and like get me overdrawn or something.

Same. And will get £175 from Natwest for it. I won’t complain…

Were you able to CASS your N26 account? I didn’t think they supported it yet.

So far Natwest haven’t said anything. That was a few days back.

If they don’t, I won’t exactly be annoyed or anything. I’d have closed it regardless.

Natwest say:

Before we start the switch, we’ll check that your old account is able to be switched using the Current Account Switch Service – 99% of UK current accounts are eligible to use the service. If your current account isn’t eligible, we can still organise the switch for you. It’ll just take a little longer.

So it sounds like so long as I close the account someway I’ll be ‘switched’.

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I am because they won’t let you open another one for 6 years - so I just keep it for when I need a foreign cash withdrawal boost