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N26 will be leaving the UK

n26.com

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Re: N26 will be leaving the UK

#441

Post by IndrekR »

wott wrote: post #394
BTinfinity wrote: post #338

Earlier quoted context omitted.

Finland if we believe his LinkedIn, no idea if it's up to date though

> Finland Weird. Transfers were instant when I moved over there almost 20 years ago, and you could already do them online if you wished (there was a system of codes on a paper or a card, on top of login+password). And that was in very traditional banks like the Postal Bank (Postipankki/Leonia/Sampo: it changed name at least 3 times during my stay). I cannot imagine it can have gone worse during the last 10 years. Ope…

In Estonia transfers went from instant to slow after enforcing the SEPA payments. Same made transfers faster in other EU countries. Different starting points. Probably similar case in Finland.

* https://en.m.wikipedia.org/wiki/Single_Euro_Payments_Area

Re: N26 will be leaving the UK

#442

Post by pgeorgi »

ieS7rpVU wrote: post #131
matthewmacleod wrote: post #79

Earlier quoted context omitted.

I’d rather have regulated banks please.

I wouldn't. Why can't you use banks that agree to follow rules you like and be monitored by people you trust while I can use banks that agree to follow rules I like and be monitored by people I trust?

Because every now and then these two banks will have to work together and then there will be such minor issues like "will the receiving bank just pocket the money while claiming to have never gotten it?"

A common set of rules across all banks ensures that they'll continue to work with one another.

Re: N26 will be leaving the UK

#443

Post by raverbashing »

patio11 wrote: post #435
Nition wrote: post #427

Earlier quoted context omitted.

Oh, really? Last time this came up people were saying you couldn't send $50 to your friend's bank account without something crazy like a $15 fee, and hence everyone apparently used a third-party app like Venmo.

There are three relatively common ways to send money electronically between two US bank accounts: Zelle: effectively instant, requires both banks to be on the network, free. Relatively new and many people who could use it don’t. ACH: a few days, effectively ubiquitous, very small underlying charge infrequently marked up to ~$3 by the bank. Wire transfers: not quite instant but close during banking hours, effectively…

Rest of the world: looks like Zelle most of the time (some occasions it's +1 day)

Banks in Europe: There might be a fee in some cases but I don't remember paying one (or it's But can people (not business) initiate ACH transactions?

Re: N26 will be leaving the UK

#444

Post by thaumasiotes »

mensetmanusman wrote: post #415
rjzzleep wrote: post #330

Earlier quoted context omitted.

Actually the EU request the law to be adopted much earlier. The countries that blocked its early implementation were Germany and France.

Amazing how left leaning politicians don’t make this their battle cry. If they want to fight for government working, it has to work in these cases of obvious corruption. The same thing happens in the US

"Obvious corruption"? Based on this thread, it looks like "this would be hard for us, so we object to the requirement". There are a number of ways you could slam that... but corruption?

Re: N26 will be leaving the UK

#445

Post by basch »

rolltiide wrote: post #299
alibarber wrote: post #260

Earlier quoted context omitted.

Not Germany, but one that in many other ways is very efficient and forward thinking. I think the banking issues are more historical and due to having a small population with generally conservative attitudes towards money and financial institutions. But my point is that N26's offering is just not going to cut it across the whole EU(+UK), and any risk introduced by Brexit (or anything else that might happen) probably w…

yeah, in the US here is no expectation of a same day free transfer between banks. Only a "maybe" in the same bank. And you can sometimes game the ACH debit system to make things occur in "technically the same 24 hour time period". there are a couple tiers of paid wire transfers, but still no guarantees that you will have liquid settled cash in the same business day. the mere concept of the SEPA system in the EU is pr…

Might not be people's first choice, but Facebook is instant. Like, the money is a non pending deposit seconds after the sender clicks send. Slick, and not a silly extra checking account like venmo.

Re: N26 will be leaving the UK

#446

Post by rjzzleep »

thaumasiotes wrote: post #444
mensetmanusman wrote: post #415

Earlier quoted context omitted.

Amazing how left leaning politicians don’t make this their battle cry. If they want to fight for government working, it has to work in these cases of obvious corruption. The same thing happens in the US

"Obvious corruption"? Based on this thread, it looks like "this would be hard for us, so we object to the requirement". There are a number of ways you could slam that... but corruption?

I wouldn't disagree. The fact that they can force the government to do their bidding is corruption in my eyes too.

The carmakers in Germany shut down various attempts to incentivize electronic cars and inquiries in their criminal behavior in the cheating scandals.

I think there is a fine line between lobbying and being downright criminal. I think most companies have actually crossed the line.

Deutsche Bahn after privatization let the train tracks in Hamburg rot for a long time. Now that they've passed the safety threshold they decided not to renew the tracks but instead move the train station somewhere else.

I've been involved in a government construction project and the way the contracts are handed out are on the surface to the highest bidder, but it's hard to call it anything but corrupt.

Lobbying is one thing, but threatening consultants and employees with repercussions and lawsuits for wanting to inform people about lies that led to these contracts is in fact criminal. I had a good lawyer, but nothing happened to the leadership on either side and nothing probably ever will.

Re: N26 will be leaving the UK

#447

Post by steventhedev »

redis_mlc wrote: post #416
Nition wrote: post #407

Earlier quoted context omitted.

I didn't really understand why there were so many banking startups in the US until I found out that simple bank transfers cost money over there.

Not even close. The banking startups are collecting account holder information so they can turn around and upsell you on credit cards and other products. But it gets better ... There is no such thing as a startup bank in the US because the government doesn't grant bank charters anymore. All those new companies aren't banks at all. They piggyback on top of an existing bank or the ACH network. That's why none of them s…

New banks are getting FDIC approval[0]. Latest one was approved last Friday.

Perhaps you meant something else?

[0]: https://www.fdic.gov/regulations/laws/bankdecisions/depins/i...

Re: N26 will be leaving the UK

#448

Post by TulliusCicero »

joshuaissac wrote: post #357
TulliusCicero wrote: post #207

Earlier quoted context omitted.

Do people not move in Italy or something? I've encountered the same thing in Germany, when I log in I use the branch number of where we opened the account? Why? Who gives a shit about that? I certainly don't. But the bank does, for some unfathomable reason. For each way German banks are better than American ones, it seems like there's a way in which they're backwards or overly conservative.

Other than having to enter the branch number, are there are other restrictions based on where you opened the account in Germany? I ask because in the UK, each bank branch has a six-digit "sort code", which others will need to know in addition to your account number to transfer you money. However, you can open an account at a branch and never step foot in that branch again afterwards, only ever using other branches. A…

Yeah, my wife wanted to open a separate account for her new job, and they said she'd have to go visit the original branch.

This is at Deutsche Bank, by the way, not some podunk obscure bank.

Re: N26 will be leaving the UK

#449

Post by Nition »

patio11 wrote: post #435
Nition wrote: post #427

Earlier quoted context omitted.

Oh, really? Last time this came up people were saying you couldn't send $50 to your friend's bank account without something crazy like a $15 fee, and hence everyone apparently used a third-party app like Venmo.

There are three relatively common ways to send money electronically between two US bank accounts: Zelle: effectively instant, requires both banks to be on the network, free. Relatively new and many people who could use it don’t. ACH: a few days, effectively ubiquitous, very small underlying charge infrequently marked up to ~$3 by the bank. Wire transfers: not quite instant but close during banking hours, effectively…

Interesting, thanks for the clarification.

Re: N26 will be leaving the UK

#450

Post by bionsystem »

kweks wrote: post #430
satysin wrote: post #386

Earlier quoted context omitted.

Oh. My. God. YES! I moved from the UK to [redacted] in 2018 (in part due to Brexit but that is a longer story) and dear god the banking systems here are utter shit. I am with HSBC and I can't even change the PIN on my debit card! Hell I couldn't even get my card and cheque book (yes they still use cheques here!) delivered to my address as it was a temporary one so I had to collect it from my branch in person. If I bu…

Ex-HSBC customer in France here. It was one of the worst banking experiences possible - incredibly expensive debit cards with very low ceilings, etc. The "plus" that you mention, having a dedicated account guru can swing both ways: mine left my local branch for another branch 10km away, and I would not perform any significant operation without their presence.. which was no longer in the branch. Boursorama or N26.

Do you know anything about Hello Bank ?
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