Should be using crypto then lol
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But my payment reason was âGardeningâ 
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Interesting seeing the number of inside job theories going around that there are staff within Revolut supposedly doing the defrauding of UK customers post license which clearly isnât true otherwise they wouldnât have got their license and also theyâd be risking their wider licenses if it ever were to be found true in the EU and abroad which I donât think theyâd do. Giving up their wider worldwide profit for the small amount of change in the UK for something that started in 2018 would be suicide and non sensical if you were to even believe the claims for a second.
Obviously people are angry as they should be that they were defrauded, anyone on Reddit will know the video Iâm referring to doing the rounds recently from TikTok of an influencer who claimed she works in banking, lost money on Revolut, got nowhere tagged the FCA and basically in writing accused Revolut of staff internally doing an inside job and got her money back straight away 
Not saying I do or donât believe her but the fact she was instantly refunded once she brought the FCA in and accused Revolut of an inside job does ring alarm bells even if it is false
To be clear this post is not me accusing Revolut of doing an inside job I personally donât believe the theory and think it most likely coincidental, just posting this purely for discussion
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There are also other similar claims but I believe some of them again related to the time before Revolut received their full UK license so I wouldnât be surprised if those people see the UK license, wrongly assume because itâs a bank now old transactions fall within the FCA/PRAâs remit when it doesnât and donât understand their incident happened before the license was granted and that their incident would fall under the old e-money license.
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Just people being bitter cuz âaccount closed for no reason so why should anyone else use itâ posts.
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I saw that post too but didnât pay much attention to it, Iâve not worked in banking but would be astonished if regular frontline support staff could even view customer data, much less act on it. I work for a company that does have a lot of customer data (70 million users in fact) - I canât see any of it and in the highly rare situation customer data would need to be directly viewed, it requires customer permission not to mention multiple levels of internal review before coming close to gaining approval.
On another note, thereâs another post on there from someone whoâs 18 and has been refused an account from Revolut and canât understand why - but did mention that they tried to change the name on their motherâs account with their ID when they were 16 âif that countsâ - and it shouldnât really matter anyway because âeveryone does itâ
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With over 10,000 employees, Iâd expect Revolut to experience the occasional inside job. Iâd expect this within any large bank. The FCA also expects this.
As long as they deal with the situation as soon as they become aware and ensure the situation is put right and changes made, thatâs what matters to the regulators. Systems really should be designed to stop this from happening in the first place though.
You also have the issue of criminal gangs having their members apply for jobs at banks, to gain a foothold. Similar to what the IT sector is experiencing with NK applicants.
This certainly wouldnât put me off Revolut, even if they were to admit it happened.
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Iâd suspect though thereâs very few inside people that can carry out direct transactions on a customers account, and those that can likely have to do it under âmultiple eyesâ - thereâs several people that have to be involved in the process for the very reason of reducing the risk of a lone wolf
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Exactly. Thatâs why I mentioned the issue with criminal groups gaining a foothold. It would rarely be just one employee or one department involved.
Banks are often chaotic from the inside, especially ones experiencing rapid growth. Itâs not the perfect world some people seem to think it is.
Insider threats happens, chances are the people posting on Reddit are just full of BS though.
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Hmmm⌠I think maybe someone at Revolut shouldâve taken a few extra minutes to compose this message before they posted it out with this subjectâŚ.
Try Kids and Teens? Erm - what on a multi-billionaires dodgy island?
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Is this a targeted message?
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I would expect the controls to be there to pick up on this very quickly.
Plus they will get audited on this sort of thing.
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Yes. Thatâs the purpose of GRC. However, without the controls, it would be rife. With the controls, itâs thankfully a rare event, but still happens.
Yes, I could not be more aware of this. There will still be residual risk and instances of insider threats succeeding in whatever their objective was. As I said, itâs thankfully rare.
My point stands, Revolut will experience this, as will Lloyds, NatWest and Iâd hazard a guess that Monzo has experienced it also at some point. Itâs not something that is communicated to staff, you will simply be told that your colleague, âX is no longer with the businessâ.
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One of the old requirements was that bank staff had their current account with the bank. I remember when I applied to Natwest grad scheme this was the case, this was the primary way they kept track of employees especially if large amounts of money were in the account unexpectedly.
However this was the 90s when there were only a few banks, nowadays I suspect they have more clever controls than just watching someones account
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Fraud by bank staff in the 90s was very common. The main banks had an entire team who worked on staff investigations full time, as there were that many concurrent cases.
Thankfully, those days are gone. Itâs now much rarer and far more high tech. Itâs mostly organised crime these days rather than lone wolfs or opportunistic bad apples.
From the customer perspective, Iâm sure itâs nicer to believe that everything is perfect and secure within the organisation that holds your money. This is just self soothing, sadly.
The customer doesnât need to worry, as the bank will cover any loss (usually very quickly).
Back to the topic. Who on here is âFull Revolutâ?
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Iâm planning to go full Revolut currently, my current stack is Monzo Max, Lloydâs Premier, and Revolut Metal although i am looking to go to Ultra. Lloydâs was pretty disappointing and has me feeling more disconnected from my spending, balance etc than any time in recent memory. But I like the credit insights of Monzo Max
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I like Revolut donât get me wrong, but I donât think youâd ever find me full Revolut no matter what accreditation they hold
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Same. They have just never appealed to me for some reason. I do like the wallpapers in the Revolut app though. Nice card designs also.
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Got the new AI feature, as with other banks (and most AI) it seems useless but the main annoyance is that Iâm so used to swiping down to get to the list of accounts I keep triggering it by mistake
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