Revolut Megathread.

optiplexgx270 · 10-08-2023 09:58AM

https://www.boards.ie/discussion/comment/120959023#Comment_120959023

How often do you complain to them? I think complainers get it first to keep them off their support chats. 🙃

eeloe · 10-08-2023 10:52AM

https://www.boards.ie/discussion/comment/120959369#Comment_120959369

Weekly, at least

jj880 · 10-08-2023 10:58AM

I got offered to apply for credit card on July 31st. Im on standard and have started a support chat maybe twice since getting revolut.

Just as Im typing this got a 5 day left reminder to apply. Maybe as Im not metal or one of the paid tiers they want to make more money on me with a credit card...

10-08-2023 11:36AM

https://www.boards.ie/discussion/comment/120956980#Comment_120956980

So then they need to be consistent in their terminology, and not use different terminology in the app and in their email communications.

northknife · 11-08-2023 10:34AM

https://www.boards.ie/discussion/comment/120959023#Comment_120959023

I've applied now a couple of times and been rejected without any explanation.

Only want it as current CC that I have is a pain trying to pay every month from Revolut.

I'm on the premium plan but that has made little difference and I also get wages paid directly into Revolut.

Was on to customer service but they couldn't do anything as the process is run by bots, AI.

tylercheribini · 11-08-2023 05:11PM

I take it nobody got the paying AIB credit card bill from Revolut problem sorted yet? Real pain in the ar*e.

optiplexgx270 · 11-08-2023 05:20PM

https://www.boards.ie/discussion/comment/120966327#Comment_120966327

Nope I try every few weeks and happened to try there on the 8th and getting returned transactions to the 3 known AIB Visa IBANS ending in

[international] 92

[generic] 76

[domestic] 60

So they still haven't figured out how to fix it or don't care about fixing it.

Sheep Shagger · 11-08-2023 05:25PM

https://www.boards.ie/discussion/comment/120964194#Comment_120964194

Not sure how true it is but I read here I think that you need your salary paid into a linked account for at least 3 months.

I am approaching that now so need to reapply, I pay my card in full every month and fortunately my mortgage isn't a massive chunk of my net pay so on normal circumstances I should get approved. We'll see I suppose

I intend to replace my BOI one if I get approved and the credit limit is sufficient (is only €7k and I never go anywhere near it).

Has anyone here actually got a Revolut credit card issued in Ireland?

Jim2007 · 12-08-2023 09:00AM

https://www.boards.ie/discussion/comment/120964194#Comment_120964194

The software is not doing anything terrible impressive, just apply some basic rules. Check out your CCR report, have your monthly salary paid into the account and all ways operate the accounts within the terms agreed with the bank.

I've seen a few more recent ones that do a bit of social media analysis to check financial responsibility, but there is not much behind them. For instance if you start advocating this Sovereign Citizen crap and start talking about your trust fund managed by the government, you'll make everyone's black list.

12-08-2023 10:49AM

https://www.boards.ie/discussion/comment/120968287#Comment_120968287

Almost 30 years ago CC approval systems were doing more than that. They would take postal address into account. More controversely rate people by their name and count the number of syllables in names etc. Suff which was on dodgy legal grounds back then, what ever about now!

northknife · 12-08-2023 12:14PM

https://www.boards.ie/discussion/comment/120968287#Comment_120968287

I get paid into my Revolut, its now my main bank, pay my cc fully off at end of each month and still no joy.

I even tried the loans, even though I don't need one at the moment and still got declined.

Its a funny old system.

Jim2007 · 12-08-2023 01:46PM

https://www.boards.ie/discussion/comment/120968870#Comment_120968870

And what does your CCR report say? No bank is going to tell you the internal rules and method they use to assess customers for access to credit products, because some people would then be able to game the system. All I can do is try and give you some pointers base on the fact I have designed such systems in the past for mainland European banks.

For the most part, there are only a few sources of information they can access to make their decision:

Their experience of you using their products and service
Your CCR report which is in fact EU wide
Your association with a third party that they don't want to do business with

If you are satisfied that there is no reason for concern with how you are operating their products and services, then I'd dig into the CCR report. A couple things to keep in mind here, the way it is being implemented is that newer data was added first, with the requirement to add older day at various later stages, so it could mean that even if you had a clear report a couple of months ago, some issues may have been added. And of course that financial institutions have access to this information across the EU, so if you happen to have lived there the same applies - old data could have been added.

If you don't find anything in the CCR report, then I'm out of ideas. I suppose it's possible that you could be associated with someone that has a bad record with Revolut, but given the way they do business, I'd find it hard to imagine they have the ability to do that kind of analysis.

MarkR · 12-08-2023 02:04PM

I've been on a waiting list for a credit card since they launched, still nothing. Little frustrating.

12-08-2023 03:14PM

Is there yearly stamp duty on the Revolut credit card?

Ignore this. There is. €30 per year.

Sheep Shagger · 12-08-2023 09:47PM

https://www.boards.ie/discussion/comment/120969241#Comment_120969241

The thing I dont get with being declined for a card when there doesn't appear to be any legitimate reason is that the decision is made by the system in a matter of seconds based off a handful of questions (unlike a traditional app form with loads of questions).

Don't think I've seen anyone on this thread actually get a Revolut card either.

I've no reason to have anything negative on my credit report but might order one to see, think it's pretty cheap

Nigzcurran · 13-08-2023 12:39PM

https://www.boards.ie/discussion/comment/120970991#Comment_120970991

It's actually free, just need to upload some bits and bobs first

Collie D · 13-08-2023 12:47PM

https://www.boards.ie/discussion/comment/120966394#Comment_120966394

Think that was me who mentioned the 3 months’ salary. Just to clarify that was my own experience, no idea how Revolut determine it.

Originally declined after two salary payments to Revolut. Applied again after my third and approved.

Sheep Shagger · 13-08-2023 03:31PM

https://www.boards.ie/discussion/comment/120972246#Comment_120972246

Woohoo! Congrats lol

Think this month's will be third salary being credited to Revolut although last time I checked I couldn't see where to say Revolut was my main bank.

Did you proceed with getting a card, did they offer you a decent limit if you don't mind me asking?

Sheep Shagger · 13-08-2023 03:38PM

So, not sure what I was doing but just applied now and it was approved :)

Credit card limit offered was pretty low at 4k (I have €7k with BOI). Probably ok still as never go near the existing limit, might go close to it temporarily while long haul booking flights and hotels etc. Could just put money on to credit card so available credit is ok.

Tend to use the credit card for better buyer protection vs a debit card (if there's even a difference these days re charge backs).

Anyone else got a higher limit straight off the bat?

Collie D · 13-08-2023 05:22PM

https://www.boards.ie/discussion/comment/120972781#Comment_120972781

I did. That was back in April I think. My Ulster card had just been closed so went ahead. Limit was about 1.5 times higher than Ulster although I got that Ulster limit about 7/8 years ago.

It’s 160% of my net monthly salary although they probably took rent/mortgage into account too. A very precise number too ie it ends with €70 rather than rounding to the nearest hundred.

Oddly enough I asked about reducing it this week as the limit impacts my mortgage approval (even though I always fully pay it off, usually even before the bill comes) and it can’t be done. Was advised I’d have to cancel and reapply which is probably pointless enough as they’d probably give me the same limit.

Sheep Shagger · 14-08-2023 03:22PM

So I go to finish the credit card application today, it throws me out so I start again and it now says I don't meet the criteria / declined after being offered a limit yesterday.

FFS

NabyLadistheman · 16-08-2023 08:33AM

https://www.boards.ie/discussion/comment/120803822#Comment_120803822

Just wondering if you got sorted with this? Im in the same situation, Wire transfer bouncing back to eTrade account. Contacted Rev who have said its an issue an eTrade's end, something to do with SSI not being updated by them. Rev have provided me with 2 additional BIC's in the US, n intermediary and a correspondent bank BIC. Have no clue what to do with 3 BIC's at this stage

Jakey Rolling · 16-08-2023 05:51PM

Has anyone received a GBP payment to their Irish Revolut IBAN? Was it automatically credited to your existing GPB subaccount/pocket?

I will need to transfer over 20k from a matured trust fund in the UK, this would seem the simplest method if the account manager can send to the Irish IBAN. Otherwise I am at the mercy of whatever GBP/EUR exchange rate they come up with.

Previously moved the proceeds of house sale via a FX agent, but no longer have a UK bank account needed to hold the funds.

Any complications with transfers over €10k - money laundering checks?

aidanki · 16-08-2023 10:03PM

My father is going to USA for 2 weeks in September, he is in no way mobile phone or computer savy so doesn't want any pesky text messages asking him to confirm cards etc. his phone wont work anyway in USA so he wont be able to receive a text message from AIB Im pretty sure ?

would opening a revolut account for him and top up with 1000euro and use that rather than bankcard avoid all of text message etc.

Sheep Shagger · 16-08-2023 10:24PM

https://www.boards.ie/discussion/comment/120988280#Comment_120988280

Would say it will definitely work easier than an AIB or BOI card. Once you have the Revolut account opened here, buy USD within the app and he taps the card it will debit in USD (saving you the FX each time of you left it in EUR).