Revolut chat

Honestly, I wouldn’t hate them for rude GIFs or anything like that. A lot of people hate on brands on social media for anything so it’s totally fair that they sometimes reply the same way. What really worries me is their history of tricking customers into relying on them and then locking them out due to KYC (if they haven’t passed KYC then do it at the start before they head abroad with Revolut as their only card), and the fact that it’s very hard to get anyone on live chat, especially with the chat being “synchronous” where if you don’t reply for a few minutes they disconnect you.

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Precisely. Veryfying customers in the UK is pretty straightforward, it usually requires card top up which generates 4 digit code visible on your bank’s online statement. Input this code in the Revolut app and you are good to go with annual limit of £25k, on avarage. However, veryfing customers in other countries in Europe typically requires ID card or passport’s photo.

Unfortunatelly, people are allowed to top up before veryfing which means they grab their card, go abroad and the moment they attempt a transaction, Revolut system flags it as suspicious. Account is blocked and they are back to the starting point.

Nobody should be allowed to top up before KYC is fully completed.

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This is actually a really good blog post, concise, to the point and they took responsibility while pointing out they were working towards a solution (bringing it in-house like Monzo) while not throwing their partnership under the bus and simply saying “it’s not my fault”. I think they sorted out a good tone of voice for this one :+1:t3:

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Yep, this actually improved my opinion of Revolut. I wish another bank (:wink:) would take note and implement the same solution.

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After 2 years of highs and lows with them, I have become more cynical than I would like to be…:face_with_raised_eyebrow:

Hopefully this is a sign they’re gonna sort out their tone online and customer service :woman_shrugging:t2: Revolut is alright… up until it isn’t. If you don’t have any troubles it’s a great card to use. But the moment I got locked out of my account I realised how frustrating and monumental the task was to resolve it! It’s definitely put me off, but I’ll just hold on the the account for now and see how they try to resolve the issues they have :thinking:

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But you will get better rates with tandem - they pay you 0.5%

Revolut’s product is a dream for fintech geeks. I have used their various features across dozen countries but signed up with them for using with crypto exchanges in first place. Their work ethic is impressive, the speed of releasing new features amusing. Yet, both Nikolay and Vlad don’t seem to think that transparency and good customer service should be their priority as well. I want to believe that today’s statement is the beginning of a new chapter but having witnessed similar crises of their own making in the past, I am not sure if I want to believe it. It is a love- hate relationship with Revolut for me.

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Yes, but drawing cash with your credit card is not a good thing for your credit report, even if you repay it straight away. Revolut does it with interbank rate. Also, if you are crypto enthusiast, Revolut is pretty much the only e-money institution to rely on. For multi currency accounts they are the only one next to TransferWise Borderless. Their geo-location travel insurance on per pay day plan is cool too. I am not keen on buying crypos on their platform as you don’t own them but will definitely try their new share trading platform. It is just fun, fun, fun to use them and you are living on the edge at the same time, hoping for the best but expecting the worst.:grin:

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Are you genuinely serious? Revolut’s rates ‘right now’ never beat Monzo’s (even during week days).

The only benefit is to purchase currencies in advance so they are not GBP denominated hence hedging the risks of fluctuations which Monzo does not do.

Check the rates tomorrow and you will see.

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I have checked them on multiple occassions and Revolut weekday rates beat both Visa and MasterCard all the time.

I don’t care about hedging. I am not Warren Buffet and can’t look into the future. If I knew with 100% certainty which way certain currencies will go, I would be a millionaire :joy:

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I will come back to you with proofs tomorrow :wink:

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Get plenty of screenshots :joy: Jeez, I joined Monzo forum to argue about Revolut rates? Not sure. I might unsusbscribe by tomorrow :rofl:

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I don’t use Revolut anymore, they were awful when I had an issue, got my Transferwise card if I want to do something similar to Revolut (and they are better than Revolut my some margin)

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TransferWise are transparent and very clear about their fees. I really apreciete them for that.

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Decent transfer times too, not like Revolut where you anxiously wait to hear if a international transaction went through

Also they’ve cut same currency transfers

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A few hundred quid a couple of times a year will have negligible affect on my credit report. Before I got my n26 account I did it most years and I have no trouble getting credit.

These days I use curve if I want to draw cash from a credit card and it appears as a normal transaction.

Revolut has so much promise but I don’t trust them with my money

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Just in case you will be interested, do not want you to live in false beliefs of Revolut’s FX dominance :sweat_smile:
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Who you comparing Revolut against there for international payments.

Revolut is on the right in your screenshot. What service is shown on the left? Rate indeed looks marginally better than Revolut’s.