Revolut chat

This is interesting:

Bigger version of the graphic:

Question: anyone know about the credit card that Revolut has apparently issued in Lithuania?

5 Likes
1 Like

To reply to myself:

Looks uninventive, but may be targeted for the Lithuanian market. Nothing on instant notifications or how it works in the app.

3 Likes

That’s just fake news…

Monzo has the same thing happening on social media but it’s not reflective of reality.

Revolut are not just blocking people’s accounts arbitrarily - neither is Monzo.

3 Likes

This isn’t the same thing as Monzo’s account closures, though. That’s more about their “verification of funds” procedures, the fact that they seem to trigger more easily, and that Revolut doesn’t seem to treat them as a priority when they happen.

Basically, Revolut may not be blocking accounts arbitrarily, but their “flags” seem to trip more often, and their customer service and compliance teams seem to be slower to get to people when it happens. It’s why I don’t really treat my Revolut account as anything more than a novelty to fool around with every now and then.

2 Likes

People moving;

1 Like

This is a clear indication that Revolut is ON IT’S WAY DOWN, ABANDON SHIP, ABANDON SHIP!!! :rofl:

6 Likes

It’s okay, they’ve not ousted their CEO yet - we’re safe for another few weeks.

Credit Suisse wants some of the Revolut action

Interesting the Monzo & Credit Suisse are currently both in the same building;

https://www.broadgate.co.uk/building/broadwalk-house

(EDIT: In London)

3 Likes

https://twitter.com/JohnBishop100/status/1304427827052371968?s=19

Unfortunately for revolut bad news travels fast especially when you have 3.5 million followers.

1 Like

Got an email that Revolut have launched Easy bank transfers via open banking, they are using truelayer.

Think they’ve had this for a while - at least trialling - I added money to Revolut maybe last month or the one before via the HSBC app. Very simple to do.

It’s been in beta for a while. Not any quicker than faster payment, tbh

In fairness though - it can be significantly faster.

I didn’t have my Revolut account info entered into HSBC at all so I avoided all of that with a few taps and the payment was made instantly without the faff of account numbers.

1 Like

Yeah, I suppose you’re right. Once you have set up a payee though, I don’t see the benefit

1 Like

Story in the FT:

Tbh it was patently foreseeable that a £150k transfer would trigger compliance issues and a red flag when your regular pattern of use is orders of magnitude lower. Boggles the mind why anyone would instruct the receipt of a huge sum of money to their neobank account, unless it’s their only account and in that case you should give chat all the info ahead of the transfer imho for pre-clearance:

Just poor all round in both sides.

In the article, it said he transferred ÂŁ150,000, when I joined Revolut there are strict limits in their terms the amount you can transfer to/from the Revolut account, you can raise the limit on the request with their support team.

Also, the article which you presented does not show what the resolution was, they did not ask Revolut for a response, also there is nothing is stopping the client raising the issue via the support section on the Revolut website.

The chances are the client was in breach of the terms/conditions due to the large amount being transferred and the issue with the Chat App was down to user incompetence.

1 Like

In dollars and euros though? Both currencies?

That’s super unusual, probably for an account that has never seen that amount in a mix of currencies.

No wonder it raised a few red flags.