Reader Submission: Paying with Free Debit Card in Thailand
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As many of you know, in (online) shops in Thailand you can pay with Mastercard or Visa. Think of your daily groceries at Tesco or refueling. One quickly thinks of using a credit card from a NL/BE bank.
Recently I pay in Thailand with a free debit card. The reason for this is lower costs and more security than paying with a credit card.
There are a number of them in circulation, such as N26, Transferwise and Revolut. I have used all 3. These cards are linked to a free euro current account. N26 is a real bank where your money is safe (German Deposit Guarantee Scheme). Revolut and Transferwise do not have a banking license.
To pay with a debit card, you must have a positive balance on your account. In addition, if you want to refuel or rent a car, an extra amount on top of your spending amount, which is reserved and later released after the refueling or rental. Please note that the release can sometimes take several hours or days.
You can deposit the amount on your card/account for all the banks mentioned via a free euro transfer from your NL/BE account. With Transferwise you can also deposit via Ideal (NL only). With Revolut you can deposit for free with another debit card (I use the Transferwise card for this myself). Unfortunately, N26 only supports wire transfers. So hopefully in 2019 it will support SEPA instant payments, which will make transfers in seconds. NL banks such as ING, ABN Amro and Bunq already support instant payments.
The costs of paying with a debit card in foreign currency are generally cheaper than with a credit card. A NL credit card uses a rate surcharge of between 1,1 and 2% on top of the Mastercard daily rate.
N26 is the cheapest without surcharge compared to the Mastercard rate. Revolut is the most expensive for Thai baht with a rate surcharge of 1% on weekdays and 3% on weekends compared to the real-time rate. Transferwise is in between but cheaper than a Dutch credit card: 0.5% surcharge for Thai baht.
In addition to costs, safety is a reason to opt for a debit card. Firstly, you cannot withdraw more money than what is in the checking account. In addition, the aforementioned banks offer an app with security features that go beyond the apps of NL banks.
With N26 you can set whether the card may be used for payment abroad, online payment, money withdrawals, as well as limits for money withdrawals and payments. What I do then is that I turn off all settings until I pay or debit card. (PS. It is recommended to have a Thai bank account for withdrawing money, as there is a 200 baht levy for foreign cards in Thailand.)
Transferwise has similar settings to N26. Revolut also allows you to block and unblock the card (freeze in the app). Another useful feature is that with all these cards you will receive a notification from the app immediately after payment with the card.
My preliminary conclusion: for paying in Thailand, N26 is the cheapest and safer than with a Dutch credit card. Paying with N26 is even cheaper than transferring money first via Transferwise and paying in Thai baht, as Transferwise requires a surcharge of 0.5% for Thai baht, in addition to a small fee of under 2 euros.
Submitted by Eddie
Don't really see the problem! If you have a bank account in Thaland, you simply get a debit card and it now also has Mastercard on it. (Visa is being terminated at Bangkok bank) so why another card of N26 and/or revolut.
The short answer: paying with N26 debit card is cheaper than paying with your Thai debit card, if you get your salary/pension in euros and not in Thai baht.
Have you wondered how much it costs to transfer euros to baht to your Thai account.
In the best case (Transferwise 0.5% surcharge), in worse cases (NL/BE banks 2%+ surcharge compared to the mid-rate).
You normally do not see these costs, since you think that the rate that the bank uses is the best rate for you. Even the best exchange agent on the street in Thailand asks for a mark-up of 0.5-0.6%.
Just look at the mid-price: https://www.wisselkoers.nl/thailand_bath (today 13/12: 37.22 baht for one euro), and what the exchange rate agent Superrich asks http://superrichchiangmai.com/events.php (today 37 baht for one euro)
Still, one more question.
There are no costs when paying with the N26 debit card, but you always exchange your euros at the Mastercard exchange rate (without surcharge)? Is the Mastercard rate not worse than the “middle rate + 0,5%” at which Transerwise can transfer your euros to your Thai bank account?
As a rule not, unless there are large price fluctuations in one day in exceptional situations.
See for yourself, the MasterCard exchange rate calculator https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html?feed-tag=goal-setting&feed-tag=refinancing&cid=ETAC0008 vs the mid rate https://www.wisselkoers.nl/thailand_bath
Dear Eddy, thank you for your explanation. However, that doesn't work for me because I have a euro account at the Bangkok bank. I transfer money from my ING account to the euro account at Bangkok bank. ING costs €6 and Bangkok bank costs €5,37. Transfer from euro account. to my Thai baht account at the same bank: free and at the exact rate indicated on my internet banking. Today 14-12 B.36,855
Harry,
Suppose you transfer € 1.000 to Thailand, then there will be € 988,63 (ING € 6 and BKKBank € 5,37 costs will be deducted). Converting to THB is free so x 36,855 = THB 36.435,958
Now exchanging € 1.000 at tranferwise yields THB 36.757,32, on the same bank account in Thailand, exchange rate guaranteed at 96 for 37,01532 hours.
Difference with a one-off transfer of € 1.000 = THB 321,362 = € 9,75 in this case to your disadvantage.
Harry, I assume that the rate is from Bangkok bank to exchange your euros to Thai baht there.
Suppose you transferred 1000 euros from ING to BB a few days ago and today it has arrived at BB and you convert it to Thai baht, then you will receive (1000-1000-6)*5,37 = 36,855 for that 36.436 euros baht.
Suppose I have transferred the same 1000 euros with Transferwise today around 10 am to my Kasikorn Bank, then I will receive a transfer to my KKB in a few days
(1000 – 6,97 (0.5% * 1000 + 1,97) – 0 fee KKB) * 37,22 (mid rate around 10am) = 36.960 baht.
So it saves more than 500 baht, is 1,4% extra that ING and BBK have earned from you, on top of the 0.5% + 2 euros from Transferwise. So total ING/BBK = 2.1% surcharge vs 0.7% surcharge for a transfer of 1000 euros with conversion into Thai baht. I think BBK does not charge a fee when transferring to a baht account
I have looked at a euro bill in Thailand myself, could you tell me what advantages you see? Because I think you are tied to the Thai bank where you have an account with an unfavorable exchange rate compared to the street exchange rate, because you cannot have your money paid out in cash euros there.
Clear information. Given the possibilities to (temporarily) block certain transactions with the card, it is definitely worth considering purchasing. With a debit card from a Thai bank you can pay with just a signature, so without a PIN code, and that entails risks in case of loss.
I use the N26 Black Card (debit card) and it has already made me a lot of money.
Costs € 5,90 per month but includes a very comprehensive annual travel insurance (Allianz).
Furthermore, completely free debit card or pay worldwide at a much better rate than any exchange office or bank. You can transfer (free of charge) money to another N26 user (beaming) within a second, very handy if you come across something unexpected.
You will receive a message on your smartphone within a second of every transaction.
Convince yourself on Forbes.com – N26
Regards,
Ron
I am happy with your positive experiences with N26. If I'm not mistaken, the Black account costs 9,95 instead of 5,90 euros per month. I am not yet convinced that in my case I will earn back the money compared to a free account.
My FBTO continuous travel insurance costs about 6-6 euros for longer than 7 months, half for shorter trips. I cannot find the small letters of the N26 insurance online, which is also a reason to wait.
In Thailand you cannot escape the 200 baht per cash withdrawal with a Black card. Even if the rate surcharge is 0% on a Black card withdrawal, the 200 baht levy costs 1% at most ATMs (max withdrawal 20.000 baht). The exchange rate surcharge when paying is the same for both the N26 Basic and the N26 Black account: 0%.
Nice solution for people who don't want to/can't open a Thai bank account.
If I transfer money with ideal to transfer wise, it costs nothing and then I can choose the moment when I convert the euro to the baht, which is now becoming very annoying because I only see it yield less.
To my knowledge, the costs for converting from euros to baht are cheaper than transferring money from the Netherlands to Thailand because you get a worse rate.
At the moment, converting €5000 would cost €24.88 and the guaranteed rate is baht 37.2069, transfer to your Thai account and no further costs for payments or debit card payments.
Prices go up and down every day, so your story can also go the other way.
Suppose you have previously bought Thai money at a lower rate than the current rate at the time of payment. You lose the 0.5% exchange rate surcharge Transferwise at the time of transfer to your Thai bank account + the exchange rate difference between the day of purchase and spending of your money.
That is why people who want to invest are advised to buy some shares every month, regardless of the price delusions of the day, so that you average out the price fluctuations over time. I do this by paying with the N26 at both a low and a high exchange rate.
I do have a tip if you are not convinced yet and if you always want to keep paying the 0.5% surcharge from Transferwise ;).
In Transferwise you can open bank accounts (called balance) in different currencies, including euro and thai baht. You put money in the baht account (convert it is called) the moment you think the baht rate is advantageous. At that time you pay a 0.5% exchange rate surcharge without the fixed fee.
You can then pay with the Transferwise debit card at no extra cost. Transferwise first depletes the baht balance if you pay in Thai baht. If it is empty and you want to pay in baht, don't worry, at that moment money will be converted to the baht balance against the 0.5% surcharge.
Eddie,
I have read your account carefully. It won't surprise you that I look at it a bit differently. You compare buying shares with buying THB because the prices of both fluctuate. Well, I buy shares as an investment, with the hope of an increase in value, there is a philosophy behind that and it takes time. So you buy shares as a package. If the prices fall in the meantime, you buy (if possible) additional shares, that is called resources. If the price continues to fall, you can continue to buy more, and so on. Ultimately, you hope to earn something from it. This process can take as long as you feel responsible.
You buy THB to live off it, to do something with it. Unfortunately, the Baht has become very expensive in recent years. When the money runs out and I have to buy sandwiches, it doesn't matter what the exchange rate is, I have to change.
If I have the luxury of not having to buy right away, then I can wait for a favorable exchange rate. Of course it is possible that the price will get even better after purchase, but things done will not change. You can then buy again or think you have enough money in your Thai account and wait for an even better rate, waiting for an even better rate. So what you say to do at N26, just buy it when the price is expensive, is therefore also an expensive hobby. Unless you have to buy because you need THB.
Unfortunately, I have to disprove your tip about saving a fee at TransferWise. Indeed, with the borderless bank account I can open bank accounts in Europe, America, England and Australia (so not in Thailand), then I also have a real bank account there, which I can also use as such. People can deposit money into that account, I can pay with it, exchange currency, etc., that is not possible with a debit card.
What you mean by "balance" is just a kind of bag of money. In our case, a bag of THB. You have to fill (change) that bag yourself with THB. With the TransferWise debit card I can then make payments in Thailand that are paid from “that pocket”. If the bag is empty and there are still euros in the TransferWise account, I can still pay as usual, but then the euros will first be exchanged at the current exchange rate.
The exchange costs and the associated “fee” for THB are 0,5% + €2 up to an amount of €50.000. So even if I put THB on my “Balance” I pay these costs, but then I have possibly the rate still in hand because I can decide (usually) when I buy the THB. In case the “Balance” is empty, I pay the same costs and the exchange rate that applies at that time.
Indeed, after I have incurred the costs of providing my “Balance” with THB, I can use the debit card for free (after all, the costs have already been incurred).
Since N26 does exactly the same as the debit card at TransferWise and N26 buys the currency at TransferWise (so as expensive as me directly at TransferWise) and also has to make a “profit” to rent buildings, pay staff, pay shareholders etc. I wonder why they are cheaper and better than TransferWise (where N26 eventually picks up the currency).
In the end I think both products are better than a regular credit card. It is up to the user what he or she feels most comfortable with. In terms of cost, the products are not far apart. Personally, I have a good experience with TransferWise and I find the use, not only of the debit card, but the whole super simple, transparent and well-arranged in combination with a great service department. I don't actually use the debit card itself because I send the money directly to our Thai bank, from where I manage this account with the associated cards and facilities.
We cannot make assumptions, but I have not yet bought a Thai baht at a lower rate than today's and let's hope that the tide will turn, but that aside.
You talk about a loss of 0.5% but when I transfer money from my Dutch bank I pay fees to the Dutch bank to the Thai bank and the rate I get from the bank is lower than the rate I would pay at any time transferwise, because that rate is always better than the rate you get at your bank.
My transferwise account is free and so is the debit card and I currently have 2 currencies on that account, euros and Thai baht and converting to baht costs money, but transferring Thai baht to my Thai bank costs nothing.
All in all I am very satisfied with transferwise, all very clear, handy app which I cannot say about revolut because I have tried it and N26 does not meet the requirements for me as transferwise.
Eddie,
I have read your message carefully. It's interesting and again I saw products that I'm not familiar with (you're never too old to learn). You write that N26 is currently the cheapest alternative to pay, especially in Thailand. It is not only the cheapest but also more secure than an EU credit card, you write. I think otherwise. Perhaps you take the trouble to go through my findings and let me send you your objections. As I said, I am never too old to learn.
The N26 debit card is (for now) free for “Free ATM withdrawels in euros and free payments in any currency”.
The N26 Black Card costs €9,90 per month and does the same as the N26 debit card with the extra “Free withdrawals worldwide and Alianz Insurance package”.
In my opinion, that means that the free card at N26 is not extremely suitable for free withdrawals worldwide and does not have insurance for various possible damages. I think this contradicts your statement.
What most people overlook is that it doesn't matter if I have to pay for a transaction, or for the card or the service, etc. Ultimately, it's about the exchange rate to be used and the associated costs. I may have a “free” card, but if I have to pay the main price for the exchange rate, I will still be more expensive in euros.
If we pin or record somewhere, then so be it. When we come home after a few weeks of holiday and then receive a statement after some time, we no longer know exactly what the exchange rate was at the time of debit card payment and I cannot see from the rate used on my statement how much exchange costs my bank charged . For the average tourist traveling to Thailand, there are various problems. The amount of the exchange rate at the time of the holiday, the costs of the various cards and the costs for withdrawing money from a Thai ATM. Bringing cash or checks costs less, also due to the fact that I can exchange them if the exchange rate rises (in the meantime), but it does not make the journey safer. In short, for a simple holiday to Thailand it is difficult to determine the costs in advance and/or to do something about it.
You also write that it is recommended to have a Thai bank account. That kite also does not apply to the average Thailand traveler. This is true for expats, people who live there and people who go there frequently. It is interesting for them to analyze what they do best with costs, maps, rates, etc.
For myself, I think I've found a good strategy. I am married to a Thai myself so we come regularly. We also have a bank account there. We also have a “free” TransferWise borderless account with the corresponding “free” debit card. We regularly deposit money into this account (costs nothing). I keep an eye on the Thai Baht rates. If I see that the exchange rate is favorable, I transfer money to our account in Thailand via TransferWise. The rate they indicate is guaranteed for 48 hours, the money is usually on our account in Thailand one day later at the latest. “In the past” when I transferred money from my EU bank account to Thailand, I saw that the Thai bank used high costs (high exchange rate and exchange costs) to convert the euros received into THB. TransferWise now deposits THB from a Thai bank into our Thai account, so no fees are charged. We do debit card payments for free in Bangkok region (account runs in BKK) outside that area we pay 25THB for debit cards. Transferring money to, for example, the in-laws is also free. And so I think this is the most convenient and safest way to have money in Thailand.
NB N26 also converts your money via TransferWise.
https://www.consumentenbond.nl/betaalrekening/transferwise-betaalrekening-en-betaalpas
https://www.consumentenbond.nl/betaalrekening/n26-betaalrekening
Dear Harry,
Thanks for your comment. Let's put your and my argument together.
First, the strategy that is the same for both of us:
1) transfer money to a Thai bank account with Transferwise.
I also try to do this when the exchange rate is favorable, but not always to plan when you need the money. Purpose: to have Thai money and cash payments, because cash is still king in Thailand.
2) withdrawing money in Thailand is best done with your Thai bank card if you have one.
Cost per year is 200 baht and you get a higher interest rate than in NL. Guest use in other provinces is 15-20 baht, so a joke compared to the 200 baht per withdrawal with a foreign pass, also with N26.
What we differ in:
1) for payments where you can do that in Thailand with a card. Especially if you don't have that much money left in your Thai bank account and you want to reserve it for cash payments.
Paying with your Thai bank card is not free, because with Transferwise you have already paid 0.5% on the conversion.
With the N26 basic account, the surcharge is 0% and you average out the exchange rate fluctuations, especially if you live abroad for a longer period of time.
2) regarding the benefits of the N26 Black card or a NL credit card, with associated insurance. I do not see the benefits of this, because I think you pay for situations that do not occur very often and / or for which a separate NL travel insurance costs less in my opinion.
3) about the security of a credit card versus a debit card, I didn't see your arguments, except that you disagree. With a credit card you can have certain payments that you have not made reversed, after waiting and written consultation with your credit card company.
A debit card is safer in my opinion, because the damage can be prevented. Suppose someone has copied your credit card details or your card has been stolen and is going to make an (online) payment. With a debit card you can prevent this in the app settings. In your app, set your card to Pay on OFF. Immediately after a payment has been made somewhere in the world, you will receive a notification of a failed payment, so even before the damage has been suffered. With this knowledge you can then have your compromised pass blocked.
Dear Eddie,
So now my final response...
So where you write that we agree on, we don't have to talk about it anymore. I would like to clarify the points you mention where our opinions differ, as far as possible.
I'll start with your point 3, that's the quickest. I haven't mentioned the difference in security between a debit card and a credit card, which is probably why you haven't been able to discover any arguments. Although you now write yourself that with a regular credit card you have the option to reverse dubious payments. In addition, a credit card has optional insurance, which will often depend on the color and price of the card. I don't believe you switch a debit card on and/or off with every transaction, but everyone does what they want with it. My conclusion was that paying via a debit card is often cheaper than using a credit card.
At your point 1: Paying with your Thai bank card is not free, because you have already paid 0.5% with Transferwise on the conversion.
With the N26 basic account, the surcharge is 0% and you average out the exchange rate fluctuations, especially if you live abroad for a longer period of time.
Can I just say the following, you are making a mistake! You also had to put the money on your N26 card. If you put euros in your account and you convert it to THB, N26 buys with your euros THB at TransferWise! And so, like me and many others, N26 pays an exchange rate (in your words, exchange rate surcharge) and that is indeed 0,5% + € 2 each time an exchange is made. You assume that using the N26 card is free and that is also the case, the TransferWise debit card is also free, but the money on the card is equally expensive or cheap (whatever you want to call it) purchased from TransferWise.
Finally, your point 2: I did not discuss the content of the N26 black card, only about the difference with the “normal” N26 card. The difference is that you have to pay €9,90 per month for the black card, but on the other hand you can withdraw money worldwide for FREE, with the N26 this is only possible for free if you withdraw euros and the black card includes an insurance package with Alianz ( as stated on their own website). This package includes more than just the travel insurance you suggested. So you're comparing apples with oranges. Because theft, fraud, car insurance, etc. are also included, worldwide.
Then you are talking about the FBTO travel insurance, which you have yourself. I just looked that up on Google. If you then take out the basic insurance of €2,10 and supplement with the World modules €0,60 / additional health insurance €0,88 / accidents €1,00 / cancellation €3,67 / long trip €2,50 + insurance tax €1,56, which results in a total per month of €12,31. If I take out it for 2 people, the policy costs €20,75 per month and for 3 or more people (family) it costs €25,31 with FBTO.
More expensive than €9,90 with the N26 blackcard + with the blackcard more than just the trip is insured.
I can't make it more beautiful. But everyone does what he thinks is right, it wouldn't be good if we all did the same thing. Anyway apparently we have something in common and that is our love for Thailand.
Regards, Harry.
Dear Harry,
Ad point 1)
Please let's get the facts straight from N26 and Transferwise so you don't mislead readers.
I have tested the following facts for a few months with said accounts:
1) as I have argued before, paying with N26 has 0% exchange rate surcharge compared to the mastercard exchange rate. (unlike Transferwise 0.5% surcharge for payments and 0.5% + fixed fee for external transfers)
It is Mastercard and not Transferwise as you write, convert your N26 euros to the payment currency. Neither N26 nor Transferwise earns from this, which is why the price surcharge is not 0.5%. That is why N26 pay also supports more currencies than those supported by Transferwise.
Tested: if I paid with N26, I check the mastercard exchange rate calculator, you set the bank fee to 0% and the amount is correct. If not, the previous day's exchange rate has been used due to time difference with Mastercard USA.
2) N26 uses the Transferwise infrastructure for transfers in foreign currency, and the cost structure is the same as that of Transferwise (so 0.5% + fixed fee).
In the N26 app you can only choose from 19 currencies, the Thai baht is not included. If you want to transfer this you will be redirected to the Transferwise website with your N26 login. That's why I don't use N26 transfers to Thai baht
3) if you do a currency conversion between Transferwise borderless account balances, you do NOT have to pay the fixed fee, because you do not make an external transfer.
Tested: so if you PAY from your thai baht balance or euro balance, you only pay 0.5%. Try it yourself!
As you can see, N26's revenue model is not based on transfers or payments, but on their subscription model with insurance and other products that are already sold in Germany.
ad 2)
Help me out, can you please forward me the link with small print description of the N26 Allianz insurance. Because I know exactly what I get with FBTO and what I don't get.
I just looked at my FBTO policy, I pay 1 euros per month for 6,42 person, including worldwide coverage, medical expenses and long travel (based on annual payment). I'm not going to pay 3.50 for things I don't think make sense like cancellation and cash theft.
Where did you get that car insurance coverage again? You understand that it is unbelievable if it is included in the package of 10 euros.
Eddie,
How dogged you must be to constantly try to prove yourself right along this road. I come from the financial sector myself, have been working with Transferwise for years and am also familiar with the new debit card system.
You want to make it clear to everyone that N26 is completely free, okay you have your way. If no money flows into the organization at all to simply pay for current affairs, they will soon be bankrupt. And that at a time when it has now been proven that there is no greater culture of grabbing than in the financial world. You may write that N26 earns their money in other ways, but why would they specifically maintain this product that they do not earn anything from?
In my first comment I added links explaining the products of both N26 and Transferwise. At N26, the consumer association clearly writes that N26 converts money or simply exchanges it to foreign currency at Transferwise! I will add you another link here stating the same thing.
N26 manages the cash flow read all payments and the commercial tool reads the network within which the card can be used from Mastercard, that's right. Exchange money in other currencies, but they do it at Transferwise. Both Transferwise and Matercard (as well as N26) are commercial organizations that earn money from the use of cards, among other things, so N26 will have to pay for the use of both tools, read using the Mastercard network and exchanging money at Transferwise That will be clear to everyone. It's only free with you. And I do know what you mean. With a credit card you have to pay for the card and the use of it is free with many debit cards, but everyone understands that there is a revenue model for the company in question when operating these types of products.
As you know, Mastercard is an expensive bird. If you check the rate you pay at N26 using the Mastercard rate calculator, you will indeed see that you do not pay any costs at N26, but in the meantime you have looked at the expensive prices at the Mastercard rate calculator. For example, use an app like Currency and then compare it and you will know where the costs are.
Unfortunately, once again you are comparing apples with oranges when you say: It is Mastercard and not Transferwise as you write, you convert N26 euros to the payment currency and then you write: 2) for transfers in foreign currency, N26 uses the Transferwise infrastructure
So…. Converting euros to payment currency and transferring to foreign currency is not the same thing? In both cases I have to convert euros to another currency and N26 only does that with Transferwise because they are simply the cheapest. They would be crazy if they did that with Mastercard, which are a lot more expensive.
Then you write: 3) if you convert currencies between Transferwise borderless account balances, you do NOT have to pay the fixed fee, because you are not making an external transfer. And then you write: Tested: so if you PAY from your Thai baht balance or euro balance, you only pay 0.5%.
Same story… if I change money “internally” at Transferwise, for example from my euro account to my English account at Transferwise, then I do not have to pay the €2 fee, but I do have to pay the exchange costs of 0,5%. But if I pay something from my Thai Baht balance then I only have to pay 0,5%??? So I don't pay a retailer, for example, but I pay internally or how should I do that? Apart from the fact that the exchange costs at Transferwise vary per currency, that is not always 0,5% at all, as you can read in the attached link.
Finally your story about insurance. Everyone chooses what he needs. If you do not consider cancellation necessary and if you are never in a car in Thailand and if you never get sick and need help for that, well then you do not have to insure yourself for that, that is clear. Someone else who has a family and who sometimes rents a car or something and who just doesn't want to cut corners on every crumb, they just pay a little more. I don't know whether the Alianz insurance that comes with the Blackcard from N26 is good and covers extensively and whether it meets everyone's wishes, that is individual and everyone has to decide for themselves. I will also add a link to the insurance at N26.
Again, yesterday I sent my “last” message because I have no intention of influencing people in their choices, everyone should do what they feel good about. However, if you write things that are not correct, I occasionally have the urge to respond. Now that you act in your last comment as if I don't have them all in a row, I still feel called upon to respond. Success with it.
https://www.consumentenbond.nl/betaalrekening/n26-betaalrekening
https://www.spaargids.be/forum/n26-gratis-mastercard-t22920.html
https://transferwise.com/gb/borderless/pricing
https://n26.com/en-eu/black
https://www.fbto.nl/doorlopende-reisverzekering/premie-berekenen/Paginas/afsluiten.aspx#/doorlopende-reis
https://transferwise.com/gb/borderless/?source=publicNavbar
In response to the N26 black card, the following:
there was a promotion in the beginning and you could purchase this card, which now costs €9.90, for €5,90.
I've been using it for a while, but I'm ending it, because now that I'm using Transferwise it's an unnecessary factor for me.
Another tip regarding travel insurance.
You can take out travel insurance with Nationale Nederlanden, including medical costs, accident insurance and luggage insurance, for approximately €5.50 per month. maximum travel time 365 days.
Thanks for the tip!
I often travel outside Europe/World and sometimes longer than 6 months (NN does not have this). With world and 180 days I end up at 12 euros. I think FBTO is one of the few that has longer than 6 months and also the cheapest
Just off topic.
Following the discussion about the benefits of N26 Black, I finally found the 2018 conditions of the N26 Black Allianz insurance (9,90 euros) against the current ones of FBTO (6,42 euros in my case for the most necessary such as medical costs and long stays abroad).
What stands out and real showstoppers for me are:
1) N26: max 3 months abroad, at FBTO you can stay abroad longer than 6 months
2) N26: max medical expenses abroad 150.000 euros, with FBTO no max
3) if you want to get justice at N26, you have to go to the court in Munich
Now I understand where N26 get their margins from: adding up the number of items to be insured, but also stripping down the important conditions ;).
N26 Black NL Feb 2018: https://docs.n26.com/legal/06+EU/06+Black/en/03_2black-allianz-insurance-tncs-Sept17-Feb18-nl.pdf
FBTO Through trip: https://www.fbto.nl/documenten/Voorw_Reis.pdf