281–290 of 517 posts
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German/European banking is not so bad, you can transfer money in one business day to any other EU/SEPA country without charge. You also have debit cards that are widely accepted and allow you to pay directly from your bank account, which is also nice. There are not so many banks that offer APIs (only Commerzbank and N26 I think) but there are other interfaces that allow you to export transactions to third party syste…
A bit late but: instant money transfer are now possible at almost every bank in Germany.
Last month, I paid a bill through SEPA money transfer from a Volksbank account and it offered a checkbox for "instant transfer" (don't remember the exact wording). I was quite surprised to see a charge of 0,21 € for that in my account statement last week.
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N26 is also very successful in France, whose banking industry is--I can confirm--very much slow, difficult, and _very_ manually run. They can charge fees for accounts because their fees are still so much lower than the incumbents they're displacing. (And you can do stuff without having to talk to your bank counsellor, at your one specific branch, in person... how novel!) So I can see how their model wouldn't be very…
French banks are slow, but they provide good services. When i lived in the UK, i had only a debit card (maestro). If you wanted a mastercard you needed a credit card account where you needed to manually balance at the end of the month. Mind you this was 10 years ago, when the UK was Just introducing PIN code for every card transaction, a security feature found in France since the 90s. In France you get mastercard as…
Err. C&P was universal by 2006ish from memory, but many venues just didn't accept anything other than cash at all. I suspect you are misremembering.
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> and because it's German all savings up to €100k are guaranteed by German gov. Same applies to all banks in the EU.
So which banks are no longer in the EU...?
>As a result of the implementation period, FSCS expects there will be no changes to the scope of its protection before 31 December 2020 resulting from the UK’s exit from the EU.
https://www.fscs.org.uk/about-us/brexit/
I mean, I guess there's no EU directive forcing the UK to keep doing this, but what's the likelihood that they want to take this away?
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Brexit affects business; they're not cleanly separable. Companies that were competitive before may not be anymore. The only real test would be to take projected metrics (in terms of business closures, job losses etc) from before the vote and compare to reality.
N26 is not competitive in the UK, Brexit or no Brexit, judging by the numbers. There are more established competitors and N26 is struggling to take off.
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Really, as a pure outsider, I think anytime you redo a vote on something like this as many times as they did you increase the odds of success (leaving the EU) to 1. People will eventually switch their vote just to not have to vote any longer. It’s not necessarily a ringing nor deep endorsement of the change.
There were two referenda on EU membership in the UK in the last fifty years.
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They are using Brexit as a scapegoat. The referendum was almost 4 years ago and only last year they were talking about expanding in the UK. Some people might have been in denial but considering the political force of a referendum result and the glaring absence of any political alternative for years now, any other Brexit outcome was a fantasy and remaining in the single market never realistic. As you say the reality i…
I think you should follow UK politics more closely. Referendum was 4 years ago. But only until the recent election i.e. Dec 2019 did Johnson have the numbers in Parliament to actually "get Brexit done". And this week for the first time in 4 years, UK government is formerly advising businesses that there will be a hard Brexit: https://www.gov.uk/government/news/government-confirms-plans...
Any business in this sector had prepared over a year ago for a worst case scenario. New business entities etc have been long up and running
Any business so inclined can also use this https://www.bankofengland.co.uk/eu-withdrawal/temporary-perm...
If you believe this nonsense you have a problem
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hsbc's app and website are the worst of any bank I've used nationwide and natwest have much better apps and websites
Kudos to natwest for adopting things like TouchID for authorising app logins, much earlier than anyone else. I still ditched them for Monzo though, mostly because natwest's anti-fraud system was reliably triggered by my mostly-online transactions, 3-4 times a year.
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One of the Leavers' arguments was that the UK wouldn't be subject to the EU's regulations. They claimed that the EU rgulations were stifling and created too much of a nanny-state. Johnson's parliment is pretty much duty bound to create an environment of reduced regulation, otherwise they would be reneging on one of their most important platforms. Things like blatant crime should still be regulated, but creating an ea…
Didn’t the EU actually regulate the shape of cucumbers and the output of tea kettles?
So no bean-counting nonsense here, just the benefits of standardization. Nobody would be angry at the EU for standardizing screw sizes, for example.