511–517 of 517 posts
Earlier quoted context omitted.
Bank transfers of money generally don't cost money. They are just slow.
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.
https://www.mybanktracker.com/checking/faq/ach-transfer-fees...
Earlier quoted context omitted.
What?! How can it possibly be worse than in the UK? I've lived in the UK and another European country, and if I didn't recognize brands like "HSBC" and "Barclays" I would have thought they were failed non serious players. The UK is quite literally decades behind some other countries, in banking.
> The UK is quite literally decades behind some other countries, in banking. In what ways?
For a start.
> we’ve already fully redesigned our mobile experience to simplify the actions that matter most to customers I couldn't contain my laugh reading that, sending money using the N26 app is a 12 steps process (no exaggeration) since the app update and the "AI" behind the categorization of spendings is an amazing garbage, e.g. I have a once a month recurring payment of the same amount from my landlord, I have categorized…
> sending money using the N26 app is a 12 steps process Not sure if we’re in different A/B test buckets or you’re in a different country and are using a different version but it’s four to five taps for me? Unless you’re counting the log in button and typing the amount as separate steps?
Earlier quoted context omitted.
> sending money using the N26 app is a 12 steps process Not sure if we’re in different A/B test buckets or you’re in a different country and are using a different version but it’s four to five taps for me? Unless you’re counting the log in button and typing the amount as separate steps?
Connect, Manage, Money Transfer, Choosing one, Naming it, Verification, Send, Identity Verification, Confirmation of Identity Verification. So 9 views/steps.
The real question is, which one of these do you think is unnecessary?
Earlier quoted context omitted.
You're correct. Nobody believes them because so many of these so-called drawbacks have turned out to be lies. For instance, Goldman Sachs repeatedly claimed they'd be moving their business to Frankfurt in the case of a Leave vote. They even funded the Remain campaign. Now they leased their HQ in London for 25 years: https://news.sky.com/story/goldman-sachs-commits-to-uk-despi... - apparently not planning to leave the…
Your Goldman link shows Goldman selling their UK headquarters and leasing it back. A headquarters they planned before Brexit. It provides no information as to whether Goldman plan on sub-leasing. The financing of one of their buildings tells you nothing about hteir operations. Your second claim- that the EU commission would 'ban' EU companies from trading with 'British financial' in the wake of Brexit. I'd love to se…
The EU revoking financial "equivalence" for non-financial reasons is a very well known phenomenon that was extensively discussed in and around the referendum time. They did it to Switzerland so there's been more since. For instance:
https://www.theguardian.com/politics/2016/jun/25/london-city...
“If tomorrow Britain is not part of the single market, the City cannot keep this European passport,” Villeroy, who is also governor of the French central bank, told France Inter radio.
Note: no mention here of divergence, merely leaving the single market is enough to be immediately banned. There was lots like that at the time, although it's getting harder to find pre-referendum pages via search engines now.
I work for a finance company that's moved its legal entity to Amsterdam
Nobody ever cared about legal entities. But note you've done that in anticipation of the UK being banned from European markets, despite having no specific announced plans to change financial law in ways that would justify such a ban.
Earlier quoted context omitted.
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
Hmmm... the introduction dates would match me leaving from there, so that would be a possible explanation. On the other hand, the existing system was already using IBAN and stuff, so as an ignorant customer, SEPA looks like an acknowledgement of what was already in use, not requiring any change in the process. Dunno. In your case, when you say slow , how slow has it become?
Earlier quoted context omitted.
It really depends, Slovakia and Czech Republic usually have very modern banks. I can do everything through the app, I don’t remember the last time I had to go to an actual bank office. Apple Pay / Google Pay is almost everywhere, fast and easy bank-wire transfers, modern and secure apps with face/touch id...
All this seems really very biased. I think Germany has instant transfers for a fee but I am not sure. There was never a need for it. Czech has instant transfers already? Great. The CZ Bank I know charges 6 Euro per incomming EU Euro transaction.