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Online Casinos in general: N26 charges 3% gambling fee from 24.05.2020

Topic created on 18th Mar. 2020 | Page: 1 of 1 | Answers: 8 | Views: 8,013
Timo0510
Top Member

N26 charges 3% gambling fee from 24.05.2020

18th Mar. 2020, at 06:38 pm CET#1
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Evening !

Today came a message from N26.a few changes regarding fees and services

Interesting was that from 24.05.2020 among other things 3% on Lotto sports betting casino etc. will be charged.

Exact paragraph of it:

A 3% fee will be levied on all transactions involving lotteries,sports betting,Online Casinos,horse racing and other types of betting.This is a necessary step to prevent fraudulent transactions and take social responsibility.

This raises several questions.

Has illegal suddenly become legal without any changes in the law regarding gambling in OC's?
Are deposits to wallets also taxed?
How is the whole thing to be verified if so?

Does anyone know more about this?

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danny005
Elite

N26 charges 3% gambling fee from 24.05.2020

18th Mar. 2020, at 07:48 pm CET#2
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Other banks (e.g. Postbank) have been charging such a "gambling fee" for some time.

" The acquisition of lottery and betting tickets or chips in casinos corresponds in essence to the acquisition of cash, says the Postbank on request. It equates these credit card turnovers with a cash withdrawal, which is usually subject to charges. Where the sales come from, the bank recognizes by a code that the card company assigns to the Provider individually."

But does this only apply to payment by credit card or also by instant bank transfer?

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campamocha
Rookie

N26 charges 3% gambling fee from 24.05.2020

19th Mar. 2020, at 06:26 pm CET#3
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Liked this post: Avatar von Fooaholic Fooaholic
The small but subtle difference here is the following:

N26 - these are "Debit Cards" - meaning here the bank account tied to the card is debited immediately, practically like an ec-card. So no credit or so-called "cash advance" is granted here, as the Postbank argues in its terms and conditions when using a CREDIT CARD.

Ergo, N26 does nothing else than to capitalize on its many 7995 (=gambling) transactions. Ca.40% of all N26 card transactions (40% of the transaction volume) in Germany are gambling related. 3% is a welcome additional income

Of course, this has nothing to do with social responsibility and fraud, which is complete nonsense. I don't think that social responsibility arises from the fact that a bank makes a profit from the customer's gambling behavior ... that is pure profit - and a lot of it.

So the result is - N26 doesn't have to sign a contract with any online casino or sportsbook Provider, doesn't have to do any technical integration etc - but still makes more money in the end through gambling transactions like an Sofortueberweisung or a Neteller that are directly integrated there

Via a wallet you can avoid this 3% N26 tax

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CasinoReuber
Amateur

N26 charges 3% gambling fee from 24.05.2020

21st Jun. 2021, at 08:09 pm CEST#4
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I have noticed that since mid-April I have not been charged any fees for transactions via MasterCard. Could this be related to the BGH ruling on bank fees? Does anyone know more?

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Paddington
Expert

N26 charges 3% gambling fee from 24.05.2020

22nd Jun. 2021, at 03:03 pm CEST#5
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This is not because of N26 but because of the 3% fee that Visa and MasterCard charge for gambling transactions! Is no different with the ING, if you pay with Visa!

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j****e

N26 charges 3% gambling fee from 24.05.2020

22nd Jun. 2021, at 11:19 pm CEST#6
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N26 is anyway a very bad crooked club. You can play for 2 to 3 weeks with a slight plus or plus-minus-zero and then when they notice that you are constantly depositing (and not just 50 euros) then nothing more comes. I and 8 of my player friends had this experience almost at the same time. Strange or? But it is serious...the OC has a MGA license .-). Does anyone here believe that this license is worth anything. The casino buys it and pays for it. Together with the game providers (on their servers run the games no matter where I play) the player is then systematically sucked. This is all organized crime / mafia.
The OC gambling about 15 years ago was a completely different than what is going on today.
One feels permanently fooled.
It's best to close your account with N26 and the other bloodsuckers of this group for good.

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DieWunderharke5000
Top Member

N26 charges 3% gambling fee from 24.05.2020

22nd Jun. 2021, at 11:23 pm CEST#7
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I think you've misread that one, Jubre. N26 is a bank. And that's what this is all about

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danny005
Elite

N26 charges 3% gambling fee from 24.05.2020

23rd Jun. 2021, at 12:54 am CEST#8
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DieWunderharke5000 wrote on 22.06.2021 at 23:23: There you have probably misread Jubre. N26 is a bank. And that's what this is all about.

LOL, probably confused with N1

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Boundary
Visitor

N26 charges 3% gambling fee from 24.05.2020

5th Dec. 2021, at 08:03 pm CET#9
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CasinoReuber wrote on 21.06.2021 at 20:09: I noticed that since mid-April no more fees were charged for transactions via MasterCard. Could this be related to the BGH ruling on bank fees? Does anyone know more?

I also noticed. Has added up quite a bit for me in the time. Does anyone know if you can claim the money back from N26?

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