Revolut - Ultracheap FX (prepaid Mastercard)

Delta2113 wrote: »

Getting asked to verify my identity again tonight. Seriously? I'm with them 4 years and I've already done this.

Anyone else getting this?

That is happening to a large number of people in addition to ever more frequent asks for source of funds even after small transactions.

Delta2113 wrote: »

Is it a bug?

It’s the AI they use which got stricter as they are in trouble with the regulator in the UK.

They used to have an automatic process to monitor for compliance which got criticized by the regulator. They than went to a new AI which was creating way too many false flags which created customer dissatisfaction. So they went to a weaker AI which is now requiring more manual review but still makes customers unhappy but the regulator happy.

So right now your account can get blocked for loads of reasons that might be normal for you but the AI does not like.

Paying outside spending patterns, doing sepa transactions to payment services, having direct debits for your credit cards from it while you use your credit card to top up and loads of other reasons.

And as they are unable to deal with the volume of validations several customer don’t get their account restored for weeks.

I would not put significant amounts of money into the wallet. Only put in what you are expected to spend or can afford to loose or not have access to for weeks.

Selah Chilly Teflon wrote: »

Does a SEPA transfer to your revolut account count as an international transfer? E.g. will Bank of Ireland charge me for the transaction?

It is a Sepa transfer if done in € so Boi can only charge you the same amount they charge for a domestic transfer.

Same here with the reverification request I got onto chat and they sorted it quickly and efficiently without me needing to re upload passport.

Also BTW, the extra 2 or 3 virtual cards I created recently for free have disappeared..... Easy come, easy go.

I tried to buy something earlier online, confirmed it in the app, but it was still declined, but the money is gone and the transaction says pending on it. I was trying to buy a phone. It says it will be reverted within seven days if unclaimed by the merchant, but by then I'll have missed out on deals.

Delta2113 wrote: »

Can Revolut replace your Irish Current Account?

Well not in 2019 or 2020 - AI or whatever these guys still have major problems (and I'm a big fan).

They are a British Bank and brexit.?

Jeff2 wrote: »

They are a British Bank and brexit.?

They are not a bank!

I've been with Revolut since the beginning. Got asked to re-verify while standing at a checkout in a shop in NI :mad: I have no virtual cards and have already uploaded my passport long before this. It's really irritating!

Toby Angry Slammer wrote: »

I had a good chunk of a nights drinking from over 3 weeks ago reverted about 2 weeks ago due to it not being claimed by the pub. It still hasn’t been retaken again so hopefully it won’t be. Just wish I’d put all the rounds on the card now rather than using cash for some!

It happens some time. I have seen them retaking the funds a few months later.

What this is, is that the reservation has not been claimed in due time due to an IT issue. Unfortunately you will have to account for, that it will be taken eventually, when the physical slips are presented to the bank.

Happened to me and brought my Revolut into minus. Had to balance it then. At least they don't penalize you, if it takes a day or two to balance the account.

Irish banks would take you to the cleaner and impact on your credit rating.

/M

killbillvol2 wrote: »

App told me my cards had to be reverified last night. I contacted them and said I was very concerned that they appeared to have lost my verification details. Everything was returned to normal shortly afterwards.

Classic.

I had this excessive request for verification of my sources of funds in May. After pointing out, that under GDPR and various other laws they had no rights to those documents, they reverted my status to normal.

/M

RoYoBo wrote: »

I tried this and no joy. First, they said they thought 'my verification ID might be out of date' - nope, valid passport until 2024. Then, maybe it 'wasn't done through the app' - nope, had to be done through the app at the time.

I asked if they'd lost my passport ID - of course not, 'we never lose any documents! We're very careful' .... then they called me by someone else's name! Finally, I got 'because Brexit' and I needed to be 're-categorised' ... asked what that had to do with me, Irish and EU. Asked for escalation ... and silence thereafter.

Got fed up and uploaded the passport in the end - it was INSTANTLY verified by them. Seems more than chaotic to me ...

I wonder are they just looking for training data for their AI?

As most of you know for the last 4 years I have used Revolut and frequently posted on this thread.

However today I am saying goodbye to Revolut as the risk for me with them is to high.

My main bank has now Apple and Google Pay, real time transaction notifications for card spending and no foreign transaction fees. Yes I could save a few € here or there with better exchange rates but the hassle is not worth it.

At this point I am carrying several hundreds € of liability with Revolut in my wallet due to transactions reverted but never charged again (in some cases for over 2 years now).

With my account having been restricted several times it also has become unreliable to use as one never is sure if a transaction might cause a freeze.

With routine transactions (like Bus tickets) triggering security reviews it’s a joke.

In will leave enough money on the account in case any charge comes back through (as I always have) but beside that I won’t use it anymore.

And yes I have multiple times tried to get Revolut to charge my wallet but they have no records or ability and the merchants all say they got paid.

I hope you all continue to enjoy Revolut and your experience will be smoother.

It’s been a nice ride for a while. I continue to lurk to see where this goes once they become a bank and hence are forced to play by the rules.

Always looked for your posts Yggr so disappointed to see you’ve become too frustrated with revolut. Certainly not a good sign for them as I think you’ve proven you know what you’re talking about here

For myself I use it mostly as a travel card or a way to transfer money instantly (and my bank doesn’t support Apple Pay so I used that occasionally too). I’ve used a lot of their features but couldn’t trust it to be my main bank. For the moment it continues to meet my needs so fingers crossed it stays that way

I must be extraordinarily lucky since I've never had an issue! Still hesitant to use it more in case my luck runs out.