Interesting article in The Times today.
So many euro accounts about, but I want one I can choose the IBAN prefix, so many countries are fussy with that including France and Italy
I will definitely be keen to have a look at their offering when they get here, particularly if they offer solid banking functions, banking at An Post branches, joint accounts and IE IBAN prefix
This is such fantastic news for Starling and an exciting next step in the bank’s progress. What Anne and the team have achieved in just a few short years is incredible.
You won’t ever get an account you can choose the prefix on; why would a bank offer it when legally it has to be accepted?
You should just report the merchants for not accepting the IBAN prefixes
We don’t live in this ideal world of yours. Where everything works as it should. In France and Italy for example, they wouldn’t give a damn how many times you report them, they still won’t accept any IBAN just because they are supposed to.
I’m well aware that most don’t allow you to pick and choose, but the fact the likes of revolut and transferwise can and do offer different prefixes for accounts, its possible.
They don’t though
Revolut provides a GB or LT IBAN depending on where you’re served from
TransferWise offer local details by going to different providers - but they’re just for looks, they aren’t real accounts
On top of that TransferWise only has a BE IBAN, doesn’t have a DE one anymore and doesn’t let you pick
Because you don’t report them to begin with
No one does, but if you do, it will change
It’s on the basis of the location of their regulated entity and their home regulator.
TW recently got authorised in Belgium, so now they’re no longer using their previous German bank for receiving EUR payments.
They also have direct debits on GBP/EUR now too, don’t they?
TransferWise could begin to look very attractive to someone shifting countries for work soon
Not too sure, not been following them too closely.
Still see them as a fancier version of a FX broker. Even with Borderless, I probably wouldn’t treat it as a transactional account.
Don’t make assumptions, your ideal world won’t happen. Banking changes quicker than everyone follows the rules.
I report everything, I even have a dedicated email for it, so don’t make assumptions.
And how comes just Friday I got a DE IBAN from Transferwise Again you are assuming because you are told so, its true. However Transferwise still issue 3 different EURO IBANS
DE IBAN should stop working in July
This new account information is from Belgium and will allow for SEPA DD’s
Would anyone kindly summarise some of the main points from the article? The paywall is strong in this one. In particular, does the article mention when Starling is launching in the EU or any of the features that will come with its account? I’m curious to know how different it will be given the lacklustre banking conditions in some EU countries (low/nonexistent interest, accounts not free as standard, patchy Apple Pay coverage etc).
I may be missing something, but I can’t work out what this means…(google translate didn’t work ).
First bit is “your new euro details are now present in the app. Please inform anyone of your new details as they’ll [your old details] stop working on 1st of July 2020”
Second one is “British pounds and euro direct debits[…] Belgium IBAN’s are the only one that offer direct debit capabilities”