Revolut chat

Hm, they even seem to accept cards from pretty much anywhere :wink: If only I could trust them ā€¦

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In this FT article from earlier this week with an interview of their CEO - it states they have 600k active accounts. This against claims of over 1.5million users mean that either almost 2 out of 3 signups are no longer active, or maybe they have a lot of users who register but then never pay for a card and never use any of the products. Either way their headline definition of a user seem a lot like Wells Fargo.

https://www.ft.com/content/6f26d10a-051d-11e8-9650-9c0ad2d7c5b5

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The article is a premium one, but I always thought the 5Ā£ for a card would be off-putting for alot of people

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You can get over FTā€™s paywall if you choose incognito/InPrivate viewing in the browser.

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Not working on incognito using Google chrome mobile.

Edit: Google ft revolut and then you can click on the article and read it.

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I have just tested Revolut customer service this morning

Had. Response from an agent with 1 min of starting the process

Extremely informative and fully resolved my issue

So I can only state that I have a positive experience with Revolut and have had no issues with my accounts

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https://techcrunch.com/2018/02/25/revolut-broke-even-in-december-now-has-15-million-customers

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Last week they had 600k monthly actives and this week they have 800k monthly actives. They are plucking numbers out of the air.

Good on them though, they have come a long way since the days when it was Atom > Tandem > Starling > Monzo > Revolut.

Now itā€™s Monzo > Revolut > Atom > Starling > Tandem.

Just my divisive opinion. Others welcome to their own :wink:

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Revolut sent this email today - They are offering free cards to new customers;

rev301

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Seems like also free for existing users who donā€™t have a card yet.

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If you only have a virtual card, you can delete it and then order a physical card for free. Mine is on its way. Donā€™t think it will be that useful.
Tbh, I suspect they ran this giveaway because card uptake has been low.

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I donā€™t think itā€™s the first time they are running this promotion. They seem to do so occasionally.

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Revolutā€™s active user growth isnā€™t plucked out of thin air given they onboarded 100k new users in a single day in Feb. Quite simply the operate in a much larger geography than Monzo and have been boosted by their crypto offering - which cannot be underestimated.

Also, I use both Monzo and Revolut. I donā€™t think of one as greater than the other as I get different utility from each app. Monzo for a current account (spending/budgeting) and Revolut for interbank rate currency conversions & crypto exposure.

Unless Monzo plans on expanding into the EU, I think viewing them as competing rather than complimentary products is rather useless.

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@Theodore

Yep, Revolut, despite their well-reported customer services difficulties, provide a unique facility - multi-currency wallet + the ability to lock-in FX rates. When my bank provides all that, shanā€™t need 'em. Till thenā€¦

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Indeed. Also, like you mention I have noticed their reputation for poor service in the past, which thankfully I havenā€™t experienced in my 3 months with them. Anytime Iā€™ve ever wanted to speak to a live agent within their app, Iā€™ve been able to promptly and had a solution. With young startups, itā€™s sad that if they make a poor first impression with customers, itā€™s hard for them to shake off negative word of mouth.

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Youā€™re right. I hear theyā€™ve made inroads into the CS thing - good for them.

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Donā€™t TransferWise do the same thing with their Borderless account?

Ah yes, although Iā€™ve used Transferwise on a couple of occasions, Iā€™d only transferred funds from a Sterling to a euro account. Didnā€™t know they had a debit card facility.

So in that case, we have a choice :grinning:

I just got their card recently, a lovely bright green one - wonder where they got that idea :wink: I like TransferWise a lot, I met some of their team at an event and they seem very switched on. Used their service on a couple of occasions and it worked out great. Iā€™m not sure Iā€™ll get much use out of the card but itā€™s nice to have should I need it.

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Thereā€™s probably no real reason to use it instead of Monzo, but itā€™s handy as both a backup card or as a prepaid card if thatā€™s what you want.

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