A hundred customers of the N26 bank came together to create a collective and sue the N26 bank, the France Conso Banque association revealed on Thursday.
For months, we have been witnessing a rather worrying phenomenon concerning N26 with the recurrence of untimely blocking of current accounts, explained during a press conference Michel Guillaud, president of the France Conso Banque association, on the initiative of this collective. According to him, 2% 3% of customers would be concerned, i.e. 50,000 to 100,000 people.
The association also accuses N26 of hiding behind German legislation, which is much less protective of consumers, and could therefore launch two legal proceedingsone concerning the blocked accounts and the second for all customers who experience unfair terms concerning the operation of the account or the conditions of closure.
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We are just doing our job, replied a spokesperson for N26 to AFP.
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In a blog post published on April 19, the group says it is required by law to report suspicious activity to the German Financial Intelligence Unit and file a suspicious activity report. Indeed, as we hold a full German banking license, we are governed by German Money Laundering Law, which sets out clear requirements for reporting potentially fraudulent or criminal activity.
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Unlike France, the German Tracfin imposes freezing the accounts during the investigation, explains the spokesperson. N26, however, acknowledged a computer error which resulted in mid-April in the blocking of a hundred accounts in Europebut according to the bank the situation should be resolved very quickly.
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