Revolut Megathread.

Yeah I have an EBS account for this purpose but unfortunately it isn't very useful

Basically, I just need a bank account for the one or two times a year that someone gives me a cheque to lodge

Now I will go out of my way to avoid using cheques, but unfortunately some people just can't get around them

I can lodge cheques to my EBS account, but transferring to another bank is a massive pain. I asked to do it in the branch and they said they can't transfer to another bank for some reason

I could use their online banking, but it's about as bad an online service as there is

So I end up withdrawing as cash or signing the cheque over to my wife, both of which are hassle. I spent 30 mins queuing in a "real" bank to do exactly that today

Having an AIB or BOI account would make life easier because I could use the lodgement machines or go to the post office

Of course ideally I could lodge cheques directly to Revolut using a third party like An Post or Western Union, but I don't see them adding that service anytime soon

Hmm, maybe I'll give it another go, it's been a while since I logged in

One of the issues is my account keeps getting suspended for lack of use, but that's probably an issue everywhere

Maybe for marrow dirt would be 33% so net interest would be 2.02%. I'm not sure what net rate on revolut standard is

Has anyone tried the USD or GBP savings accounts? Looks like the rates are a lot better at around 2.52-2.55% after DIRT tax and fees.

Again taxes are withheld by Fidelity so no messing around with paying Revenue directly

There's obviously a double risk of currency devaluation, but it could also gain value the other way

If you still can't access your account and chat, contact us at support@revolut.com.

Are you using Apple Pay or similar? I use my AIB debit card with AP and the top up is processed there and then

Just got a notification from Revolut - Savings account (no limit), 3.5% PA however tax taken at source so net 1.86% (approx.), protected up to €22k

While it's nothing to write home about, better than an Irish deposit account. Question is.... would you trust Revolut with more than €22k? It's in a separate account to your debit card account.

Well since it's only protected up to €22k then I wouldn't really trust them with more

I wouldn't trust an Irish bank with more than €100k either

This was discussed earlier, the rates are better than what the Irish banks are offering, but worse than the likes of Trade Republic

The advantage is you have instant access and interest is paid daily

Regarding paying AIB visa card from revolut.

I got an update from a new formal complaint and they have a known issue but still have not done anything about it over the last year since first discovered in April 2023 and how they know how I feel and how it's not what I would like to hear blah blah. Here is 50€ refund on your plan fees go away.

The admission that it's been a known issue for over twelve months and is still unresolved is very significant. Did you get that in writing ?

Below is part of their response:

In your complaint you explained that an issue with transfers to AIB was brought to our attention by you on the 5th of April 2023, however, the issue continues to remain unresolved to this day.

I can see that you got in touch with our Support team regarding this on the 4th of February 2024, where it was further discussed until the 19th of February 2024. During the chat conversations, the matter was escalated to our Products team once more, but a clear explanation for the issue was not provided.

After looking into this matter, I can confirm that this issue has been looked into since April 2023 when it was first brought to our attention. However, regrettably, we are currently unable to provide further details or a resolution besides asking the beneficiary to provide you with alternative details to make the affected payments.

That being said, I would like to remind you that the following is detailed in our Terms & Policies, Clause 27:

“We'll do as much as reasonably possible to make sure that our services are not interrupted and are accessible at a reasonable speed. However, we can't promise that this will always be the case or that the services will be free from faults.<...> We’ll always do our best to solve any problems with our services, no matter what the cause.”

The above is part of their formal complaint response. I've also sent FSPO in supporting documents the AIB final response from last year identifying the issue with the data revolut are sending them.

FSPO Complaint opened:

Online Complaint Form

Thank you for submitting your online Complaint Form (and documentation).

@AndrewJRenko happy to share my complaint reference to include in yours and vice versa.

Christ, what a terrible response from themselves. You can tell they haven’t had much experience with complicated complaints. I’m sure the final response letter will be a hoot. Have they stated when Day 40 is?

Aside from that, I find it interesting that BOI credit card payments work fine, whereas AIB’s don’t. Oh well, hopefully you get it fixed soon.