This is a case that N26 would have done well. Last December, several listeners of RMC, clients of the neobank, have sounded the alarm. They then explained that their current account had been closed by the establishment overnight. In all, and according to information from the radio, more than 530 customers had then made themselves heard on the Internet because of this situation. According to the profiles, amounts of 300 to 9000 euros would always be blocked for them, without possibility.
N26 can “randomly and unjustifiably block money”
In the wake of these revelations, we have just learned that the neobank N26 has been sued. Five former customers have just lodged a complaint via a group action. The next legal meeting is scheduled for April 12 before the Nanterre court.
Emma Léoty, the plaintiffs’ lawyer, is asking N26 for the restitution of lost funds, as well as damages. Quoted by RMC, she says: We have never seen a bank, on its own, block money in a totally random and unjustified way, money that belongs to people who need it to live on a daily basis. N26 will have to answer to a French judge for these untimely blockages “.
Our colleagues also specify that the community of former customers is organized on a Facebook page called: “Community of customers scammed by N26”. What, why not, encourage other users to join them. About fifty people have already contacted the lawyer, specifies RMC.
Last month’s revelations also caught the attention of the Prudential Control and Resolution Authority, a banking supervisory body, which asked N26 for an explanation on the matter. In Germany, already, the establishment had to cooperate with the regulators. In question, money laundering activities that occurred between 2019 and 2020 via the accounts of the establishment which resulted in a fine of 4.25 million euros and a growth restriction.
For its part, the neobank felt last month that it is its duty to block suspicious transactions. Similarly, some closures are carried out in the event of non-compliance with the general conditions of sale, or for any fraud and non-compliance with banking regulations. But N26 complained that several customers had still not responded to the bank’s request for IBANs to return the funds. Case to follow.
Boursorama:
Current account
Conditions: No income condition – Welcome and Ultim cards
Annual fee: €0 • Initial deposit: €300
Check deposit: ✔ • Cash deposit: ✘
Bank card
Monthly cost of the card: 0 €
Euro zone withdrawals: Free • Euro zone payments: Free
Foreign currency withdrawals: 1.69% • Foreign currency payments: Free
Proposed cards
mobile payment
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