Revolut chat

Having made a huge splash in banking, Revolut is now coming for Expedia!

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Looking at the T&Cs they are using Expedia to provide the service.

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So a company using a company to book with a company? :laughing:

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Provides me with a little reassurance knowing there’s a proper travel company doing the heavy lifting, but at the same time I guess this is cancelled out by not knowing who’s at fault when there’s a problem.

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Not them, obviously. Most likely yourself.

It must be the most amazing experience working in the Revolut customer services dept

Same issue with their share trading.

Revolut to offer 0.15% interest to standard cardholders, according to AltFi.

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Further from AltFi

The fintech is offering 0.15 per cent interest on cash up to £85,000, a hair higher than its closest competitors Monzo and Starling which offer rates of 0.10 per cent (on Monzo’s easy access pot) and 0.05 per cent (on Starling’s current account) respectively.

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Got an email from revolut,

We’re issuing a select group of customers with a shiny new virtual debit card. Your new virtual debit card comes with a new card number and increased acceptance at merchants. We’re sure you’ll love it!

If after these years between monzo and revolut they haven’t managed to get merchants to reliably update their BIN databases and revolut think it’s easier to migrate then is there hope?

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Why would it have increased acceptance? :thinking:

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I wonder what’s so different in those debit cards apart acceptance? :thinking:

Do a new virtual card looks same as other ones (sky blue) ?

Got mine a few months back. Fairly sure the only real change was a switch from Visa to Mastercard.

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It’s shinier :sparkles::sparkles:

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Any wonder they don’t have an actual full on banking license at present :joy::sob::joy:

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It is not something for me to use. If the employers have to have agreements with Revolut, it seems like the market penetration will be very small? Are these the people who would dip into overdrafts anyhow? If so, a £1.50 fee is less than the overdraft charge would be. All that said… this feels more like an exercise into getting people to have their salaries deposited into Revolut, with the feature quietly dropped in 6-12 months. But most of those will keep their salaries coming into Revolut afterwards.

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Revolut says its scheme will help alleviate the financial strain some consumers face between paydays.

It only helps once. Unless you then go 6 weeks without being paid, then do it again.

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Go 6 weeks on half your monthly wages, because remember, you took half early

It’s designed to get people into a vicious circle, forcing them to constantly rely on this service and pay the fees. Everyone knows payday loans are predatory so there is a need to find a way to repackage them it seems

People need to build up an emergency fund, however slowly, and learn to rely on it

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From a business point of view, it’s quite a good idea. Let’s face it, Monzo needs to be doing stuff like this if it one day wants to turn a profit.

Even if people do go into a cycle of using it every month, it’s essentially a cheap overdraft. Let’s say the average wage is £2,000 per month. So you’re essentially borrowing £1,000 at all times. This is only costing you £18 per year, about 1.8%. To borrow the same amount with Monzo would cost £66. Or am I missing something?

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