Meet Revolut, the Financial Super App That Puts You in Control

[Foxx]

31 minutes ago, Liverpool Lou said:

Revolut is licenced as a bank elsewhere. The UK's not the be-all and end-all of everything.

 

True.  But how much faith would any rational person place in a bank licensed in Lithuania? It's hardly noted for its financial services or top notch regulation.  The mere fact that the Bank of England doesn't see fit to licence it (at least so far) is highly significant.

And please don't ignore the multiple problems with its financial accounts and its poor handling of the victims of sophisticated scams.

[Liverpool Lou]

21 minutes ago, Foxx said:

how much faith would any rational person place in a bank licensed in Lithuania? It's hardly noted for its financial services or top notch regulation.

Is Lithuania noted for its adverse financial services or lax regulation, then?

Edited February 26 by Liverpool Lou

[Foxx]

19 minutes ago, Liverpool Lou said:

Is Lithuania noted for its adverse financial services or lax regulation, then?

 

Yes.  It attracts a disproportionate number of dodgy fintech companies.

[Liverpool Lou]

2 hours ago, Foxx said:

2 hours ago, Liverpool Lou said:

Is Lithuania noted for its adverse financial services or lax regulation, then?

 

Yes.  It attracts a disproportionate number of dodgy fintech companies.

You'd need to back that with something empirical for it to have any credibility.  

[Foxx]

39 minutes ago, Liverpool Lou said:

You'd need to back that with something empirical for it to have any credibility.  

 

No I don't.  I don't owe you anything.  Do your own research.  The evidence isn't too hard to find.

[Liverpool Lou]

34 minutes ago, Foxx said:

1 hour ago, Liverpool Lou said:

You'd need to back that with something empirical for it to have any credibility.  

 

No I don't.  I don't owe you anything.  Do your own research.  The evidence isn't too hard to find.

I didn't say that you owed me anything just that without any back up your claim has no credibility.  If you had anything, you'd have posted it as it's "not hard to find"!

[NanLaew]

Latest news on Revolut isn't very good and indicates that theft by fraud being reported by their UK account holders is almost twice as high as that reported by conventional UK bank customers.

 

https://www.bbc.com/news/articles/c9wkzv1zk91o

 

Looking at this and related stories, the key issue still appears to be people being duped by cold-callers. One complainant says he eventually felt suspicious, but that didn't stop him doing everything the scammers asked.

 

Because Revolut does not have any form of dedicated fraud hot-line outside of reporting via their app, the response is slow and disappointing.

Edited October 21 by NanLaew

[scubascuba3]

1 hour ago, NanLaew said:

Latest news on Revolut isn't very good and indicates that theft by fraud being reported by their UK account holders is almost twice as high as that reported by conventional UK bank customers.

 

https://www.bbc.com/news/articles/c9wkzv1zk91o

 

Looking at this and related stories, the key issue still appears to be people being duped by cold-callers. One complainant says he eventually felt suspicious, but that didn't stop him doing everything the scammers asked.

 

Because Revolut does not have any form of dedicated fraud hot-line outside of reporting via their app, the response is slow and disappointing.

100+ frauds reported to BBC, Revolut and Wise are both difficult to get hold of in a fraud emergency, unlike high street banks

[NanLaew]

2 hours ago, scubascuba3 said:

100+ frauds reported to BBC, Revolut and Wise are both difficult to get hold of in a fraud emergency, unlike high street banks

 

100+ frauds reported to BBC, but thousands reported in total.

 

Looks like twice as much as Monzo but Barclays aren't too far behind. I know already how rubbish Barclays can be just getting normal stuff done, let alone in an emergency.

 

 

 

 

I use them solely for fast transfers. I haven't tested them as a recipient of my client's invoicing yet, but even if I do, that money will simply pass through to conventional banks or make a short-term, low-value "family vacation" or "student allowance" fund.

[NanLaew]

I got this email shot from Revolut two weeks ago.

 

Hi NanLaew, Helping you keep your money safe is a cornerstone of what we do at Revolut. Our 24/7 financial crime prevention team works round the clock to ensure your money’s safe. But if something were to happen, new protections are here to help ensure you aren’t left out of pocket. Here’s what you need to know.

What’s changing? From 7 October 2024, new rules protecting UK account holders from Authorised Push Payment (APP) scams will apply.

What is APP fraud? When criminals trick or persuade you to transfer money to another account, then steal your funds. Find out more about different types of fraud and scams on our dedicated page.

Who’s eligible? UK account holders who can show they didn’t act fraudulently, or with gross negligence, when making the payment or transfer.

What can I claim? Certain transactions made on or after 7 October 2024 are eligible. You may be entitled to a refund of up to £85,000. A £100 excess applies for most claims.

How do I raise a claim? Tap the payment in your Transactions list > Get help > Report this payment as fraudulent. Complete and submit the form, and we’ll get in touch to process the claim. If you have multiple transactions to report, you can add them to the form. Not all transactions will be eligible for a refund. Head to our FAQs for more information on eligibility, claims, and other T&Cs.

[scubascuba3]

1 hour ago, NanLaew said:

I got this email shot from Revolut two weeks ago.

 

Hi NanLaew, Helping you keep your money safe is a cornerstone of what we do at Revolut. Our 24/7 financial crime prevention team works round the clock to ensure your money’s safe. But if something were to happen, new protections are here to help ensure you aren’t left out of pocket. Here’s what you need to know.

What’s changing? From 7 October 2024, new rules protecting UK account holders from Authorised Push Payment (APP) scams will apply.

What is APP fraud? When criminals trick or persuade you to transfer money to another account, then steal your funds. Find out more about different types of fraud and scams on our dedicated page.

Who’s eligible? UK account holders who can show they didn’t act fraudulently, or with gross negligence, when making the payment or transfer.

What can I claim? Certain transactions made on or after 7 October 2024 are eligible. You may be entitled to a refund of up to £85,000. A £100 excess applies for most claims.

How do I raise a claim? Tap the payment in your Transactions list > Get help > Report this payment as fraudulent. Complete and submit the form, and we’ll get in touch to process the claim. If you have multiple transactions to report, you can add them to the form. Not all transactions will be eligible for a refund. Head to our FAQs for more information on eligibility, claims, and other T&Cs.

I got that from Santander, nothing from Wise

[NanLaew]

On 10/22/2024 at 2:08 PM, scubascuba3 said:

I got that from Santander, nothing from Wise

 

Yes, also got it from Barclays. Ditto nothing from Wise.

[PREM-R]

I got similar information from Wise on the app this morning. Check your messages on the Wise app

[scubascuba3]

17 minutes ago, PREM-R said:

I got similar information from Wise on the app this morning. Check your messages on the Wise app

No area for messages in the Wise app

[KannikaP]

On 2/24/2024 at 5:43 PM, Foxx said:

Apparently:
 

 

Ha ha ha, Wise praising Revolut. 

[PREM-R]

On my Wise app there is 'Bell' symbol on the top right of the screen (Mobile). The message was there when I clicked on the image.

[PREM-R]

1 hour ago, PREM-R said:

On my Wise app there is 'Bell' symbol on the top right of the screen (Mobile). The message was there when I clicked on the image.

This is the beginning of the message from Wise.  The rest of it is pretty much as the Revolut text as shown in previous posts.

[scubascuba3]

9 hours ago, PREM-R said:

On my Wise app there is 'Bell' symbol on the top right of the screen (Mobile). The message was there when I clicked on the image.

I see the bell now (notifications), within my profile, no message/notification for me

[sikishrory]

I signed up couple of years ago. Got the cards sent to my dads house as it (and Wise and XE) were unavailable in Thailand using a Thai address. I don't agree with faking an address just to be accepted into the service but whatever.

They sent out cards. I sent a simple query. Received no response so lost all interest. Cards timed out.

I threw them in the bin.

Issues:

Unavailable in Thailand

Unable to contact service

[NanLaew]

10 hours ago, scubascuba3 said:

I see the bell now (notifications), within my profile, no message/notification for me

 

My Wise APP scam alert posted on 25 October.

 

[scubascuba3]

11 minutes ago, NanLaew said:

 

My Wise APP scam alert posted on 25 October.

 

Still nothing for me, maybe because i don't deposit money with them, transfer through only

[NanLaew]

21 minutes ago, scubascuba3 said:

Still nothing for me, maybe because i don't deposit money with them, transfer through only

 

I don't use them as a bank either.

 

Anyway, you're covered if you ever get APP'd.

[Chivas]

Revolut were very good when it initially started and if you remember when you used the ATM you got the full interbank rate (still had local ATM fee obviously)

 

When that full interbank rate ended it just became another card

 

I use Chase and cant fault them