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George55 wrote on Sun Mar 24, 2024 2:42pm:
Preface - I'm a resident.
I had been with N26 for many a year - until last month. The reason I left/was forced out was because they stated to me that they needed to see my tax return for 2022 as part of the "Know Your Customer" requirements.
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I told them that I wasn't going to provide them with that as that is between me and the tax authorities.
They responded asking for my P60 - where they got the idea I would have a HMRC issued form is bizarre but I responded saying that I couldn't provide that.
They then said we're closing your account and it is been placed under restrictions meaning you can only transfer money out and not in.
I spent a couple of hours moving all my direct debits across to Wise (with a BE IBAN) and there they shall remain unless Wise come up with an equally idiotic request to see my tax returns. I transferred the remaining money out of N26 into Wise and closed my account.
Note - I don't think Wise has bank status so doesn't have the same FSCS protections but if you're simply using it as a day to day spending account its unlikely you would have any substantial amounts in it. As it is, I happen to have a Euro based savings account in the Isle of Man which does have protection which is where I keep my small amount of savings (Isle of Man protection is £50k GBP as opposed to FSCS protection at £85k or ECB protection at 100k Euros IIRC)
This is brilliant idea, I’ve been thinking about this, can you contact me directly please
