After recent events I would strongly disadvise from using Number26
It might all be about nothing, but in a nutshell this happened:
- N26 cancelled several hundered accounts w/o giving a reason.
- When asked explicitly why these accounts were cancelled N26 still actively refused to give meaningful reasons, citing their T&C which allow them to cancel accounts at any time w/o giving reasons.
- Affected users established that one similarity in their behaviour includes a lot of ATM withdrawals.
- N26 actively advertises that withdrawing cash is free, and that there are no limits to doing just that.
- Obvisouly N26 incurrs costs through withdrawals, and where people overshot some limit their accounts just got cancelled.
While I understand that costs might be high, I do not understand or condone their strategy to cancel accounts w/o warning or notice. If withdrawal costs are too high they need to change their (advertised) rules around withdrawals, such as introducing an official fair use policy or similar, not just cancel.
I´m sure some people might have really overdone it, however they still only used an advertised feature.
When >>decent magzines ask questions (in German)<<
around this matter, N26 simply refuses to answer.
It's just totally unacceptable.
While my account wasn't cancelled, I won't use it anymore; might even cancel myself. An account that's not reliably
available is of no use, and in this case you never know if you do something that displeases.