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.
Thanks for pushing on with this, I know it's pretty head wrecking but hopefully there'll be some pressure applied to Revolut and they fix it soon
They already had the fix for the old LT IBANs so I doubt it's a significant amount of work. However I suspect the product management have little interest in fixing any non critical issues and are focusing on features, so customer service issues will continue to be pushed to the back of the queue
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.
@optiplexgx270
Wow. That's just begging be referred FSPO.
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.”
You can get pretty much the same net result from BUNQ, (2.64% gross = 1.77% net after DIRT) and a €100k DGS guarantee. Both have online systems of somewhat dubious merit and its swings and roundabouts when it comes to capabilities and features. Both have rubbish support so no difference there. Revolut have form locking accounts on spurious AML grounds, I've not heard of this in Bunq's case, though it wouldn't surprise me. So why would you give €100k to Revolut? I wouldn't.
Disclaimer, I have money with both, considerably more with Bunq.
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 ?
You can take their money, and still proceed with a formal complaint to FSPO, which looks like it will be the only way to put pressure on them to fix it.
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.
One thing to be aware of is that the interest compounds monthly
So if you add money twice a month then it only increases the interest earned from the following month
But it is pretty nice to watch the balance go up daily 😁
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
No is the simple answer if you're 100% risk averse
If you'd put 120k into BoI or AIB to earn fcek all on demand,then Revolut are bigger than both those banks,so personally my view is it's not a big risk
I opened one of these a week ago and the interest is added daily at 8am
It's pretty cool to see it earning even if it's not very much,it's tonnes more than the virtually nothing you get elsewhere with demand accounts
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.
I'm with PTSB and if I use bank transfer or card payment it's always slower than when I use Google Pay from the same account. So use that if you can.
Are you using Apple Pay or similar? I use my AIB debit card with AP and the top up is processed there and then
I have no idea why but my top up to Revolut from AIB can take a day but if I use Curve Card connected to AIB card then it goes through as normal.
AIB transfer could take hours or over night but with using it on the Curve card it goes as usual the it used to be.
Maybe I'm doing something wrong with AIB.
If you still can't access your account and chat, contact us at support@revolut.com.
I accidentally terminated my account and I don't know how to undo it 😞
It is unclear to me what you are asking....
Have you closed an account on terminated your entire relationship with the institution?
How can I unterminate my account I some how managed to do it ? Will I need to start fresh
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
Morrow is a Norwegian bank and therefore from outside the EU. And so, according to Revenue, “If you are a higher rate taxpayer or you have not made a timely return, a DIRT rate of 40% will apply.”
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
So does Raisin (Marrow) represent a better savings option, for a Revolut 'Standard' account holder?
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
I regularly use their online banking and while it isn't great it very useable and certainly don't think its near as bad as you would suggest. Biggest pain is the 5k daily limit which is very annoying but since you are taking out cash instead I doubt you would be hitting this.
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
No. Revolut have a free basic account for Ireland https://www.revolut.com/en-IE/legal/basic-bank-account/
EBS is fee free and is a normal account without any stipulations to get it.
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