Anyone getting repeat requests for new ID with Revolut?
Ive submitted passport and driver's license in the last month and theyre still asking me for updated ID. Odd.
It's unusual, but not odd. There are a couple of different types of validation done:
So yes based on the laws of probability, you can be asked several time in a very short period to provide identity. One would hope that they have put in some kind of a limit in their algorithm as to the number of times this can happen….
Now as it happens, I'm off to be validated in person at my local bank for the third time this year. And the kicker - I'm a retired senior employee of this bank and am very well known to the local staff! When I pointed this out to one of them, the young whippersnapper commented: but you might have died in the meantime!!!
Difference is - those Raisin rates are fixed, the N26 one isn't (and interest rates are expected to dropsometime this year).
Hi all,
Hoping for some help,im trying to delete a linked card from revolut and cant seem to be able to.I have gone to add money and pressed change and the linked cards came up i then tapped the i on the rite and card details come up but no option to delete but there should be?
Any help would be appreciated ,cheers guys.
Strange. I just deleted an old linked card from mine. After I tapped the i inside the circle on the right for the card it gave me a clearly visible "delete" option for it and it worked.
There was an update for the app available this morning which I installed first. Maybe try updating.
Thanks for the reply,only done an update meself yesterday,i was onto revolut and they told me to do what you done but im not getting that option and i have 3 cards linked and cant delete any of them.
Starting to think its my phone its huawei.
I like to live life on the edge though :D
see the new savings accounts are now available in Ireland. I’m very risk averse so have moved my money from the fund account into it. Lower interest rate but you pay dirt on these instead of the 41% on the fund account
Some context info on the above in link below metal is 3% and ultra is 3.5% at the moment.
https://www.rte.ie/news/business/2024/0523/1450719-revolut/#:~:text=Online%20bank%20Revolut%20has%20launched,plan%20to%20earn%20higher%20rates.
They're also guaranteed up to €100k as opposed to €22k
I'm not sure there's any significant difference in the risk, if MMFs and cash funds collapse then the banks have effectively collapsed anyway
But it's definitely better if you're going above the €22k limit to have a deposit guarantee
Worth noting that it's the Lithuanian deposit scheme, so you'll need to deal with the Lithuanian banking authorities. Nothing against them, but it is a barrier compared to an Irish bank
Looking to set up a accessible savings account, a standard one with no monthly fees.
I know I'll need to sort out DIRT myself, I will initially deposit 5k and top it up every month by about 1k. Want to have these funds accessible too should I need them.
Who shout I go with? Trade republic, Revolut, Bunq or N26?
Well Revolut has the lowest interest, but is also free
I personally wouldn't bother with Revolut if you're looking for a high return unless you already have an account set up
Revolut also pay the DIRT tax for you, so no need for extra work on your part
N26 have slightly better interest rates and seems to be the same deal, so probably a better proposition
Trade Republic seems to be the best deal if you're staying below the €50k limit
While you'd need to transfer the money to another bank to use it, I believe transfers from Trade Republic to Revolut or N26 are usually instant
It's only Irish banks that take forever to process a bank transfer
I'm moving funds into revolut for the 2% savings account and have two questions.
What does amazing raisin mean by saying you'll have to deal with Lithuanian banking authorities? As DIRT is taken at source surely there's no need for any extra hassle?
I'm concerned about the security of revolut ie card number getting stolen. If this occurred would someone be able to also access funds in saving account?
Your revolut card is as secure/insecure as your AIB/BofI/PTSB card, so I wouldn't be worried. If you have access to somebody's card you can't directly access other vaults/accounts in Revolut, so it would only be if you lost access to your entire account.
Re. Lithuania - the issue there is that the bank guarantee system that covers the savings accounts appears to be in Lithuania. So if Revolut went belly up tomorrow you'd need to deal with Lithuanian authorities to get your money back, not the Central Bank here. But the likelihood of Revolut failing is probably pretty small anyway…
I meant as regards the deposit guarantee, that's only relevant if Revolut goes bankrupt. DIRT will be paid to Irish Revenue by Revolut and deducted from your interest gains daily
I'd suggest familiarising yourself with the terms of their deposit guarantee. It's largely the same as the Irish one but there may be some need to send documentation to the Lithuanian banking authorities
Again, this is only relevant if Revolut goes under
As regards security, there's no automatic top up from a savings account to your Revolut current account. If your card details are stolen then they can only take the money in your current account
However if someone gains access to your Revolut app then they'll have full access to your funds, same as any other online banking
For that reason it's important to protect your phone and app with secure PIN codes or fingerprint recognition (not the same PIN for both!)
I'd also recommend being very cautious about downloading apps you don't absolutely need, including games. There's a considerable amount of malware on many apps these days which pose a security risk
Finally, always be sure to encrypt your phone if possible and ensure you have a backup strategy in place
Last piece of advice, Revolut (or any other bank) will never contact you to request any personal details including PIN codes. There's plenty of scams out there that will tell you your account is blocked and you need to click the link or authorise some transaction to get access. There's always some time pressure as well to try and force you to panic
NEVER follow their instructions, NEVER click any links you get via text message, etc. If your bank calls you, get the callers name and department, hang up and then call the bank back on their official number (not the one they called you with).
Tell them you got cut off and ask them to put you back through to the relevant person, if they don't know who you're talking about then it was a scammer calling you
Sorry for the lecture, but there's so many fraud scams going around nowadays and it seems a lot of people really aren't prepared for them
He is talking about the depositor's state guarantee of 100k in the event of a bank going under. The guarentte is EU wide but the implementation is at the state level. In this particular case your deposits would be guaranteed by the Lithuanian government and in the event of things going wrong, you'd need to deal with them in order to recover your deposit.
In the case of an EU bank collapsing am pretty sure no matter where the bank is located, they are required to repay all retail investors in 10 business days. Regardless of if that's AIB, BOI, Revolut, Trade Republic etc
I believe that is the case, however if there's any kind of questions to be resolved then you'd need to contact the relevant country's authorities
In any case, it's always worth bearing in mind that the whole deposit guarantee scheme hasn't really been put to the test yet
I'm not saying it won't work, just that it's always prudent not to put all your eggs in one basket or all your savings into one bank
TBH I trust other EU banks more than I do Irish ones regulated by the CBI and I get a better return in the process.
Random question. I always top up my revolut account using apple pay which is linked to my BOI debit card. I recently got a BOI credit card and added it to apple pay, and accidentally topped up Revolut by this card shortly after. I'm surprised that it allowed me, and there doesn't seem to have been any charges applied like I would expect if using a credit card to take out cash. Am I missing some catch here? And if not, is there any reason not to do this?
BOI will charge you. Revolut won’t.
When I top up my Revolut from my bank it's treated by my bank as a normal card payment, so me using my credit or debit card doesn't really matter. Except I need to pay back by credit card before end of month and don't with debit obviously.
BOI don't treat Revolut as cash advance, so they actually won't, once you pay your bill in full!
Hi All, Sorry I'm a little simple when it comes to banking overall, Whats the difference between Instant access savings and there Flexible Cash Funds?
That’s really surprising.
I always top up from my credit card as it's instant, doing it from my current account takes days. No charges (PTSB)
The instant access savings will be covered to 100k central bank guarantee
The FCF os only covered to 22500
The latter also depends on what the fund makes to generate tge rate where as the former will be directly related to the ecb rate as to decions on rate chanhes
More than surprising, it's a bit of a hole in the banking system if they don't treat this as a cash advance.
If you time it right, and withdraw on the day after your credit card bill has been issued, you get 'free money for about seven weeks' before you have to repay it.
saw Revolut have a 3.49% savings account, but you need to be an Ultra account, this is €55 per month. Is it worth it? The €600 fees could outweigh the interest gained?
Or did I misread the whole thing?
Metal is 3% and 15.99 a month so no the ultra is not worth it unless you are putting in a min of 96k to break even on the fee difference.
Better off on n26 with 4% on their metal which only needs 18k to break even to the free plan.
![Photo of [Deleted User]](https://www.boards.ie/applications/dashboard/design/images/banned.png)
