N26

londoninvestor

teamwork wrote: »

I remember reading on another discussion forum that they were FCA regulated before I opened the account, so I never checked the facts myself. So on checking their website small print and terms of business I see that I got those facts wrong. The terms of business state: Fineco Bank is a trademark
licensed for use by FinecoBank S.p.A. Authorised by the Bank of Italy and subject to limited regulation by the Financial
Conduct Authority and Prudential Regulation Authority. Details about the extent of our regulation by the Financial
Conduct Authority and Prudential Regulation Authority are available from us on request.

Thanks. As you say, the FCA and PRA have some regulatory oversight, but they're not part of the FSCS.

While it can be confusing, I don't think Fineco is one of those firms who make it even worse by artfully wielding "regulated by the FCA" as a fig leaf hiding the fact that deposits aren't protected in the UK. But it's good to be aware of what protection you do and don't have.

For anyone for whom FSCS protection is an important feature - [URL="https://forums.moneysavingexpert.com/discussion/5930838a thread here discussing that[/URL].

Roger1

teamwork wrote: »

PROS:
...

3) Upon opening the account, you get 4 currency accounts (GBP, USD,EUR & CHF) ...

Beware the CHF account!

When I transferred CHF to a Swiss CHF account, I was charged a SWIFT transfer fee. And the Swiss payee had to pay Swiss bank fees.

gt94sss2

N26 have now launched their Metal Account in the UK.

It offers various benefits on top of their standard free account and the usefulness of the perks offered will vary depending on your use.

However, it doesn't seem 'cheap'/vfm at £14.90/month though I haven't checked how comprehensive the included insurances are.

Personally, I would have thought that N26 would have concentrated on making sure they supported standing orders and direct debits in the UK before expanding their service offering..

SnowTiger

One unusual feature N26 offers is the ability to set and change your PIN online after logging in to your account.

Obviously the PIN has to be written to the chip on the card before it can be used for Chip'n'PIN transactions, so a visit to an ATM is required.

I can't think of any advantage that offers over displaying your PIN as a reminder, as many cards already do.

gomer

Can only apply for the fee account. Free one is not valid.

trient

superM wrote: »

Is there likely to be a credit check for this account? I am interested but will be applying for a mortgage in 2 months time so trying to prevent a credit search.

For what it's worth, I have opened my free account - no mention (that I remember!) of a credit check, yet surprise! when my report came in there she was - N26 hard credit search.

I wonder if there is any way to get it removed, but I'm not holding any high hopes..

stphnstevey

Not much use without a Euro account - even Starling will offer to all soon

colsten

trient wrote: »

I wonder if there is any way to get it removed, but I'm not holding any high hopes..

First world problem. One full search now and then has just about no impact on your creditworthiness.

trient wrote: »

no mention (that I remember!) of a credit check

That's naughty. They should ask your permission. May be they did?

Highland76

I recently opened a standard N26 account & today received my debit card in the post. Can someone confirm that a signature is not required on the back of the card? Seems rather strange if this is the case as every card I've been issued with has always had "not valid unless signed" printed on the back.

jonnygee2

I recently opened a standard N26 account & today received my debit card in the post. Can someone confirm that a signature is not required on the back of the card? Seems rather strange if this is the case as every card I've been issued with has always had "not valid unless signed" printed on the back.

The last time I signed the back of a debit card was about 15 years ago. That 'not valid unless signed' text is largely a legacy thing.

I guess you will need one if you go to the US or some other countries as signatures are still common there. In the UK it's very unlikely to make a difference.