I think it’s worth it.first 2 month you don’t pay a penny then they start billing you
You are also locked into a 12 month contract though. You can’t just stop paying.
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Yeah, it’s £149 for the first year with the 2 months free.
You can cancel within 30 days though.
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If you cancel, do they cancel your metal card and send you a replacement plastic card? On one level that would make sense - you’ve opted back out of our premium so you get a basic card again. But on another level would be quite a waste - here’s your replacement plastic card to replace the metal card that you replaced your original plastic card with.
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I imagine so otherwise you’d just get the metal card and cancel instantly, no?
You can’t just stop paying.
Leave the account at 0£ and forget about it.
While I’m sure nothing major would happen, I don’t like to do things like that.
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Yeah I believe that’s what they do (and I agree with you about the waste).
Can’t help but feel these banks would benefit from offering a one off cost to simply have a metal card.
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Dangerous advice to give, who knows what their policy is on collecting debt or reporting it to CRAs?
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I do things like that because I don’t like vendors using dark patterns like “2 months free” to enroll people into a contract. Frankly I don’t like the idea of a contract for such services anyway, as once you stop the service it doesn’t cost anything to the provider (since you stop getting the benefits like insurance or lounge access) anymore so you shouldn’t have to pay anything.
I mean I agree in that I don’t like it, and I agree in that it doesn’t cost them anymore once you stop.
But then I don’t know the intricacies - maybe the insurance company mandate 12 months minimum and the bank have to honour this and foot any costs?
In any case, if I don’t like a company doing something, I just don’t do business with that company. I don’t decide for myself and do as I please just because I personally feel it should be able to happen.
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I would pay for it. Yes it’s just a look but I like it.
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I’d love to see them try and collect that debt - they’d spend more money on that than the “debt” itself.
It should also not be called a debt - it’s not like you took a credit agreement, spent all the money and then defaulted. Here they’re providing you an ongoing service as long as you pay. You stop paying and you stop using the service, so you’ve paid for your usage of the service up to that point and then you stopped using the service so it doesn’t cost them anything either. It’s fair on both sides.
It doesn’t always work that way. Companies can often project the income over the year based on contracts and make plans based on it. Gyms do this - you might not use the service one month but your monthly fee is spread over the year and this is what they use to build new gyms or improve the current one. It’s not just a simple matter of “monthly cost of running for you as an individual”.
And companies DO collect debt, even small amounts. I cancelled a gym direct debit as a student earlier than I should have and had a private firm calling me constantly for £12.99 debt. It’s an automated process mostly.
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Frankly, there all things that you don’t like. That is still no reason to give someone bad advice about potentially getting themselves into a debt that could go through the collection cycle. Bad form dude.
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maybe the insurance company mandate 12 months minimum
Maybe, but in this case it’s up to N26 to find a better insurance partner.
In any case, if I don’t like a company doing something, I just don’t do business with that company. I don’t decide for myself and do as I please just because I personally feel it should be able to happen.
Good on you.
Companies can often project the income over the year based on contracts and make plans based on it. Gyms do this - you might not use the service one month but your monthly fee is spread over the year and this is what they use to build new gyms or improve the current one. It’s not just a simple matter of “monthly cost of running for you as an individual”.
True, but then they should just charge higher for the default monthly plan and then give you a discount if you pay upfront for a year. So it’s no longer a contract, it’s just that you’re purchasing the service upfront and getting a discount for doing so. Most software-as-a-service companies do that and it’s perfect.
Admitidly the card looks nice (the metal one) but being tied into a subscription with them 12 months at £14 isn’t the best really. Specially when the only thing I would use is travel insurance say once a year so wouldn’t really benefit me, seems like these have come along and Started doing the high street bank stuff (tie ins, extras etc) no thanks I’ll stick to hot coral 
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Lots of companies do…
My gym is higher for rolling monthly.
Like I said, for this it is what it is. Not for you to decide what’s right or not. Just don’t sign up if you don’t want to enter into a contract.
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Please educate yourself as to the meaning of the word: Oxford Languages | The Home of Language Data
It doesn’t have to be part of a Credit Agreement. Sometimes, it’s just better and easier to admit when you’re wrong, and retract your bad advice.
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