AKA man dabbles in crypto without understanding what heās doing and loses it all.
Good old Revolut,The soon to be bank that just keeps giving. How on Gods earth is Revolut going to be granted a FULL banking license when these situations keep arising.
They recently launched Revolut X. Might as well remove crypto from the main app now! Thereās no reason anymore to transact there due to fees
Os revolut any closer to thier license. Just used today and didnt realise it had merchant logos.
lol youāre clueless.
Crypto is never going to be regulated in a way it protects your money, itās nothing to do with revolut.
Itās similar to stocks and shares, win some lose some.
Tough if they lost it, happens on all platforms. Donāt label Revolut the bad boy if you donāt have a clue what youāre on about.
I love how the article blames Revolut but not wherever he sent it from for making the distinction between the two.
It would be nice if Revolut could handle these cases, even as one-offs with a fair charge but I wouldnāt criticise them for not doing so.
Who would that be?
Itās 100% the guys fault. He sent crypto from a different network. He should be thankful that the loss was small, there are stories of people doing the same with millions and it was irrevocable
Itās crazy the BBC is trying to make out that anyone is responsible other than that idiot, and then we see regulations come in and ruin it for everyone else to protect people who arenāt mentally competent enough to even use the product
Itās typical behaviour from the BBC. Revolut are on the receiving end of the witch hunt because they are close to getting their full license without restrictions.
I just find it entertaining the article title says āhe was careful and followed all stepsā and then describes how he twice ignored the network that Revolut instructed him to transfer on
If there is any responsibility that isnāt his, itās on whoever makes the third-party app that put that Polygon bridge network right next to the correct one. But there was probably a big red warning on that app advising him of the mistake he was about to make, so of course the BBC didnāt give us any details of where he transferred from as it would make this an even more obvious non story than it is
Just reflecting, I used the same machine the week prior and that was with metal visa and that was free.
Maybe just Mastercard problem.
Interesting that the Guardian focused their article on a staff performance system, rather than this far more interesting paragraph in the same article on their Ā£1bn recorded profit:
āThe practice was detailed in Revolutās annual report, which showed that profits had more than doubled last year, jumping 148% to Ā£1bn in 2024. That increase was due to a rise in subscriptions, and revenues from its wealth and crypto trading divisions.ā
The performance system doesnāt seem an awful lot different to traditional performance measurement systems (including where I work), where bonus payments are scored as a combinaton of individual and team performance.
The FTās article on the same report doesnāt mention Revolutās performance management system at all:
Revolut annual report 2024 
Revolut to launch mortages in Ireland in the Autumn, according to the Irish Times.
Thatās behind a paywall though so hereās the extra.ie version:
This is new, selfie verification was there on outbound transactions from pockets / crypto / wealth, but seems it can now be set on anything that goes outside of Revolut at all.
Except cards, but those can have individual limits and freezes applied anyway.
Itās great to see Revolut put so much work into security following years of bad press (pinch of salt).
Especially all the limit management stuff, helps people manage their account most effectively, and flexibly to suit their needs.
Would make some sense to maybe set crypto payments outbound to zero and go through the setup guide in your first crypto payment as that seems to be a big driver in financial loss.
Iām actually quite impressed with the level of safeguards they have in place for crypto transfers.
They have a multi-screen user flow explaining crypto scams, asking you to select which company youāre paying to, asking you to sign your name confirming that if you lose money itās your fault, and set a 3 hour cool down, reminding you every hour to think a bit about it.
Itās a bit of fuff if you know what youāre doing, but if it helps some people not lose money Iām happy about it. If they still lose money, thereās frankly nothing else that could have been done to help them.
I noticed as well you can adjust the limit amounts on the existing wealth protection categories too.
I just set mine to ā¬0 on everything.
I mean, it takes 5 seconds to do a selfie verification in app, and in theory that now means transfers out are behind both the phoneās biometric verification and Revolutās external biometric verification.
If you turn off contactless on your physical cards and just use mobile wallet, youāre probably protected as best as you can be.
Now to wait for the incoming news headlines āI had verification on and followed instructions closely and still someone emptied my account while I was sleepingā 