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Joseph Martin10 said:1. You can use it normally to withdraw cash from ATMs; the fee is 1.75%. The only thing is that JPMorgan Chase doesn't charge extra fees for foreign cards yet.$7.25
2. A US agency can't block that account since they don't really have visibility into it.
3. Equifax doesn't handle debt collection; they just store data regarding your bank accounts, cards, and loans, as well as debts owed to specific companies, and calculate your Credit score based on that. If you have an unpaid bill and it goes to collections, they record that info with Equifax. However, only a court can actually authorize a seizure.
4. You can use a virtual card for cash withdrawals at ATMs that support the feature—basically, you add the card to Apple Pay/Google Pay and tap your phone on the contactless reader. I'm just not sure if that virtual card even has a PIN required for withdrawals.
5. The account will always have a German IBAN unless you use an Italian or Spanish address.
The difference between a German and a Canadian account is that the German one limits you to 3 cash withdrawals per month, while the Canadian one doesn't (as far as I know). Other than that, there isn't much difference.
Thanks—turns out my sister was wrong about 4 out of 5 things! 😂
The replies were helpful.
Hey everyone, I’m looking for some straightforward answers specifically regarding N26, so if there are any experts out there, please help me out.
I’ve been going back and forth with my sister for days about these online banks—I can't seem to convince her on certain points, so I'm not sure if I'm the one in the wrong here. I have a few questions, so if anyone knows the deal, please let me know.
1. Can an N26 card be used for ATM withdrawals in the US even though it operates in dollars rather than, say, a different local currency? Basically, can I withdraw cash from an ATM using my account if the account is set up in USD? (I know there’s usually a conversion fee, I just want to know if it's actually possible.)
2. Can a collection agency block an N26 account, and does that depend on which state the address is registered in? Has anyone dealt with debt collectors regarding this?
3. If the bank is based in Germany, but my sister is currently living at her address here in the States, could a German Equifax report or some other entity garnish her wages or seize funds in Germany if she has an unpaid bill over there?
4. I read somewhere that the virtual card in the app can be used for both payments and ATM withdrawals. How exactly do you pull cash from an ATM using just your phone or a virtual card? Do you actually need a physical card for that?
5. If an account is ordered here in the US, will it have an American IBAN or a German/Canadian one—for instance, if Canada is listed during setup? How do those different versions of accounts work, what do they apply to, and what are the actual differences?
Thanks in advance to anyone who can help. Cheers.