Revolut Megathread.

phildub · 22-02-2021 11:04am

Darren 83 wrote: »

Has anyone linked a bank account to Revolut account? Safe to do so?

I have done it and used it to transfer money back and fourth.

TheChizler · 22-02-2021 2:24pm

Darren 83 wrote: »

Has anyone linked a bank account to Revolut account? Safe to do so?

Do you mean as a linked account to see your bank transactions? I've done it but it's buggy, it never updated with new transactions. Not sure if the problem was Revolut or AIB.

Henry Ford III · 22-02-2021 3:42pm

killbillvol2 wrote: »

If you don't understand the discussion it's best not to get involved.

No backseat moderation please.

Rattlehead_ie · 22-02-2021 3:45pm

Has there been any update on an Irish Banking Licence recently.
Personally holding off on full on switching till that comes in....might be waiting a while but happy to wait for now.

Davy · 22-02-2021 3:55pm

https://www.irishtimes.com/news/consumer/revolut-user-in-a-spin-after-being-asked-if-he-was-related-to-eamon-ryan-1.4487352

“I have been a Revolut user for three years and it’s the first time the chat function has contacted me,” his email said. The app asked our reader if was related to the leader of the Green Party Eamon Ryan “and when I asked why are they asking me that, they asked the question again, not explaining why”.

He says he has had multiple over and backs with the company and the saga has gone on for two weeks “and they have blocked access to my account and my money until I answer them”.

He attached screenshots of his “conversations”. They really have to be seen to be believed.

cromelex · 22-02-2021 4:03pm

Davy wrote: »

https://www.irishtimes.com/news/consumer/revolut-user-in-a-spin-after-being-asked-if-he-was-related-to-eamon-ryan-1.4487352

“Under the EU’s 4th Anti-Money Laundering Directive, all financial institutions including Revolut are required to perform ‘Enhanced Due Diligence’ on so-called ‘Politically Exposed Persons’. Revolut takes these obligations extremely seriously. As part of these obligations, financial institutions are legally required to establish whether a customer is a close relative or a close associate of a Politically Exposed Person. In this case, Revolut’s customer shares a name with a relative of an Irish politician and on that basis the customer was asked whether he was related to that politician.

This is the relevant bit.

It is quite possible that their procedures were not entirely clear. Under a lot of those anti money laundering points, banks/financial institutions are actually prevented from telling the impacted customer that they were flagged under some sort of anti money laundering control.

magoo84 · 22-02-2021 5:19pm

Poncke wrote: »

So the new T&Cs then - 1 euro for an ATM withdrawal ???

LOL - all these companies turn into, or worse, than the establishment they are trying to fight. Same with Bunq. It is all waffle until they turn into the corporate white collar fat necks they used to loathe.

Hypocrite fecks.

This is absolutely correct. Any tech company which promises to "disrupt" markets should be viewed sceptically - their business plans always seem to end up being built on a bait-and-switch executed over a medium-to-long term timeframe.

TylerRyan28 · 22-02-2021 6:27pm

Hi I'm thinking about opening up a revolut account. Just a few questions

Would you recommend it ? And if so what do you use it for ?

flazio · 22-02-2021 7:53pm

TylerRyan28 wrote: »

Hi I'm thinking about opening up a revolut account. Just a few questions

Would you recommend it ? And if so what do you use it for ?

My main use for it is to see my petty spending more clearly.
Get paid into a BOI bank account weekly. Will top up the Revolut up to €100 via my BOI debit card and then use it for my coffees, snacks and general shop spending. DDs, fuel and main food still paid direct from BOI. Not confident to take my main account to an off shore account. Have no passion to overthrow the Irish banking system. Also have a small amount in N26 in case of emergency such as a VISA issue a couple of years ago.

Sheep Shagger · 22-02-2021 7:59pm

Yggr of Asgard wrote: »

Or how Conor Pope does not understand the legal status of Revolut by calling them a bank.

Conor Pope is a very poor excuse for a 'consumer affairs reporter'.

The story is pointless, a mix of poor staff member at Revolut, a slightly dim customer and Conof Pope. His asking twitter for his next story is yielding poor results if thats anything to go by.

Jim2007 · 22-02-2021 8:18pm

*** Mod Warning: This is the third intervention by the mods in the last 48 hours or so, if people can't behave in a civilized manner, they we're going to have to break out the red cards ***

Hurrache · 22-02-2021 8:23pm

Sheep Shagger wrote: »

Its not just about Revolut though, people generally expect free banking, that makes no sense when you compare it to other services we consume every day.

It's not the same. Banks have customers money to invest in funds etc, it's not like they just hold it.

The J Stands for Jay · 22-02-2021 8:51pm

Hurrache wrote: »

It's not the same. Banks have customers money to invest in funds etc, it's not like they just hold it.

The only two things they can do with customers money is lend it out or keep it in the central bank. The ECB are charging for that these days, and not enough people are borrowing. Besides, lending current account funds out doesn't make too much sense from a timing pov as they can be withdrawn by the depositor with no notice

wandererz · 22-02-2021 10:32pm

TylerRyan28 wrote: »

Hi I'm thinking about opening up a revolut account. Just a few questions

Would you recommend it ? And if so what do you use it for ?

I have been using it for several years now and can definitely recommend it.

It takes minutes to setup via your phone.
Most difficult thing is taking clear pictures of your ID and submitting the KYC info.

I use it to send & receive money from others.
e.g. If spouse is out shopping and needs extra funds for something she has it immediately.

Buying stuff in a foreign currency, e..g. Amazon UK - saves you money on exchange rate compared to Amazon or your own bank.

Sending money to someone in a foreign country - if they have Revolut then they have the money immediately.

Revolut has this feature called vaults. I have multiple setup - e.g. Groceries (weeks 1-4), motor tax, motor insurance, holiday fund, savings, other bills.

Every payday I transfer money into each of these. It helps me enormously to budget,separate my funds without requiring separate bank accounts.

For example, if motor insurance is €600/year I pay it in full but then every month put €50 into the insurance Vault. This ensures that by the next renewal date the funds are already there. Same with motor tax, Xmas etc.

Vaults can be shared with others as well. You can set it to deposit only or deposit & withdraw.
Great for shared funds such as joint savings or the monthly grocery shopping.

I used to have the metal account @ €12.99/month but I've dropped to basic now that I'm not travelling. Basic meets all my needs at the moment.

You can get a free card if invited by someone during one of the promos otherwise it's about €6.

You can have multiple cards too, either for someone else or to hold in an emergency.

When travelling, i leave my bank cards in the hotel safe an carry the Revolut card instead. If wallet is stolen or lost then I have bank card or spare Revolut card to fall back on.

Great security features as well such as being able to disable/enable cash withdrawals, freeze a card, enforce Geo protection, view/reset pin code

Darren 83 · 23-02-2021 7:58am

TylerRyan28 wrote: »

Hi I'm thinking about opening up a revolut account. Just a few questions

Would you recommend it ? And if so what do you use it for ?

I would recommend it, I only got it in the first place when my bank didn’t do Apple Pay.

When I get paid each month I send money to it then transfer to the better half to buy what we want.

I also set up an junior account for my daughter so she can manage her pocket money and I can over look what she is spending it on.

WildIreland · 24-02-2021 11:15am

TheChizler wrote: »

Do you mean as a linked account to see your bank transactions? I've done it but it's buggy, it never updated with new transactions. Not sure if the problem was Revolut or AIB.

On balance, I'd lean towards AIB being the culprit there... their tech offering is archaic compared to Revolut's, and inherently clunky. It's hard to imagine their implementation of Open Banking being any different.

Idioteque · 25-02-2021 11:27am

Anyone else get a mail about re-issuing of a new Virtual Debit Card?

"We're issuing a select group of customers with a shiny new virtual debit card. Your new virtual debit card comes with a new card number and increased acceptance at merchants. We're sure you'll love it!"

I can't see any difference between it and my previous card other than the new one is Mastercard and the previous one is Visa. Also couldn't find any news around why they are doing it. Also never had an issue with a merchant accepting my current card.

Saying it's a 'Shiney new card' and 'select group of customers' just makes me think they are trying to sell it as a benefit to me when I can't see any and reckon it must be something in the background they need to do for themselves - wonder if its related to the recent stuff around changing IBAN's due to brexit.

JamesBond2010 · 25-02-2021 11:51am

WildIreland wrote: »

On balance, I'd lean towards AIB being the culprit there... their tech offering is archaic compared to Revolut's, and inherently clunky. It's hard to imagine their implementation of Open Banking being any different.

:D:D:D:D revolut never has any bugs we were Fighting about this last yr as well combination of the two.

Yggr of Asgard · 25-02-2021 12:28pm

Idioteque wrote: »

Anyone else get a mail about re-issuing of a new Virtual Debit Card?

"We're issuing a select group of customers with a shiny new virtual debit card. Your new virtual debit card comes with a new card number and increased acceptance at merchants. We're sure you'll love it!"

I can't see any difference between it and my previous card other than the new one is Mastercard and the previous one is Visa. Also couldn't find any news around why they are doing it. Also never had an issue with a merchant accepting my current card.

Saying it's a 'Shiney new card' and 'select group of customers' just makes me think they are trying to sell it as a benefit to me when I can't see any and reckon it must be something in the background they need to do for themselves - wonder if its related to the recent stuff around changing IBAN's due to brexit.

They are issuing the virtual Mastercard's themselves so it's in their benefit.
Also, the new cards are coded as debit while some of the older visa virtual cards were prepaid. Hence the claim of increased acceptance at merchants

This is just their usual marketing speak (politely put).

Yggr of Asgard · 25-02-2021 12:44pm

Also, in principle for some customers this is a downgrade from a Visa Infinite Prepaid Debit Card to a World Mastercard Debit Card.

But giving that Revolut cards do not actually market their card level to customers (nor offer any real benefits) this does not matter to you as customer. It just matters to them because if you use the card outside the EU than they get more interchange fee out of the transaction because of the higher card level.

ciarsd · 26-02-2021 2:51pm

My virtual card was replaced yesterday evening, via an App notification. The original Visa equivalent is still there but its replacement is indeed a Mastercard. The Visa will be inactive in around 60 days, as I have it hooked up as my primary payment on my Google Pay, I've now swapped it over to the Mastercard equivalent.

dilallio · 26-02-2021 10:08pm

I tried to pay my Airtricity Bill this evening using my Revolut Card.

Revolut declined the payment even though I have more than sufficient funds. I queried it using the chat function and the agent told my that the Airtricity Billing System not 3D Secure compliant, and any payments over 250€ will be declined.

Anyone else have this issue? Seems strange as Airtricity use Realex Payments.

Thanks!

garrettod · 27-02-2021 3:34am

I think I've had to request help about three times, in the last six months - most recently, today.

Experience with their support has been pretty poor tbh. Having got past their "bot", I find that there staff are not well trained, take ages to reply, and when they do, they usually send some loosely relevant pre-written script, in response to my questions. I then have to go through 10-15 minutes of nonsense, and unnecessary delays, before finally getting sick of the stupidity, and insisting that they put their superior on the conversation. That in turn sometimes takes a while, but ultimately gets you speaking with someone with a bit of common sense, and capability.

Unfortunitely, the end result is always the same - a good 30 mins wasted, and stress levels unnecessarily raised, to deal with something fairly simple.

Some people wonder why they haven't managed to get Regulator approval, from the Irish Central Bank, as yet - I think it's fairly obvious myself, tbh.

magoo84 · 27-02-2021 3:56pm

I haven't been able to log into my account from my phone since the 7th of Feb. I installed the app on a new phone, and when I type in my mobile number it tells me "the verification code or phone number you've used is incorrect." I can log in via the web app but that only allows you to add money or view your balance, not send money. I've contacted their support multiple times but keep getting told it's a "technical issue" that they're working to resolve.

That's just not believable - any widespread issues logging in would be resolved within a couple of days as it would hurt their bottom line too much. My guess is they've frozen my account for security or anti-fraud reasons, though I'm not sure why, and they're just not telling me. It's made me realise how untrustworthy the company is. You couldn't possibly keep large sums in a Revolut account if there's going to be a risk of seemingly arbitrary account suspensions and their support aren't going to help.

JamesBond2010 · 27-02-2021 5:52pm

magoo84 wrote: »

I haven't been able to log into my account from my phone since the 7th of Feb. I installed the app on a new phone, and when I type in my mobile number it tells me "the verification code or phone number you've used is incorrect." I can log in via the web app but that only allows you to add money or view your balance, not send money. I've contacted their support multiple times but keep getting told it's a "technical issue" that they're working to resolve.

That's just not believable - any widespread issues logging in would be resolved within a couple of days as it would hurt their bottom line too much. My guess is they've frozen my account for security or anti-fraud reasons, though I'm not sure why, and they're just not telling me. It's made me realise how untrustworthy the company is. You couldn't possibly keep large sums in a Revolut account if there's going to be a risk of seemingly arbitrary account suspensions and their support aren't going to help.

Thats why you never keep anything over a grand in there, cause you could always lose contrary to what people say here.

JamesBond2010 · 27-02-2021 5:55pm

garrettod wrote: »

I think I've had to request help about three times, in the last six months - most recently, today.

Experience with their support has been pretty poor tbh. Having got past their "bot", I find that there staff are not well trained, take ages to reply, and when they do, they usually send some loosely relevant pre-written script, in response to my questions. I then have to go through 10-15 minutes of nonsense, and unnecessary delays, before finally getting sick of the stupidity, and insisting that they put their superior on the conversation. That in turn sometimes takes a while, but ultimately gets you speaking with someone with a bit of common sense, and capability.

Unfortunitely, the end result is always the same - a good 30 mins wasted, and stress levels unnecessarily raised, to deal with something fairly

simple.

preaching to the choir here i had the same experience when trying to deal with fraudulent transactions

Some people wonder why they haven't managed to get Regulator approval, from the Irish Central Bank, as yet - I think it's fairly obvious myself, tbh.

Preaching to the choir here i had the same experience when trying to deal with fraudulent transactions nightmare.

igCorcaigh · 27-02-2021 9:14pm

The account balance widget on Android is badly designed, visually, and doesn't update after a transaction.
Poor.

irishgeo · 28-02-2021 10:03am

Anyway to remove cards from an account. Way too many and just want the to use the grey premium one I got when I signed up for a month to buy a car without fees.

Lucas Hood · 28-02-2021 12:23pm

Go into cards then click on the card you want rid of and click settings and select terminate card.

I'd keep a spare one , maybe freeze it in app and keep it somewhere safe.

The J Stands for Jay · 28-02-2021 7:52pm

Mr.S wrote: »

I’m due to receive a relatively large payment in CHF - am I right in saying that that I only need to provide my standard Revolut IBAN (LT coded) and the payment will be received in CHF and not automatically converted to EUR?

I'm guessing that you need to go into the app and open a CHF account. Then use that IBAN.

The DayDream · 28-02-2021 7:56pm

It might just create the other currency account, I received a refund in GBP and it went into a new pounds account automatically. I never even got any notification for it and wasn't aware it was there at all, sent about 5 emails over 3 weeks to the company i sent the stuff back to telling them I was still waiting for the money when it was there all along.

Yggr of Asgard · 01-03-2021 4:00am

In my experience if you receive a payment in a supported currency it stays in that supported currency.

The did away with different IBANs for different currencies a long while ago and with the move to LT that does not seem to have changed.

I would open a wallet in the currency you expect but I have seen that being done automatically too.

Once you opened the currency wallet and click on the flag next to the balance it will show you the IBAN to use or if there is a local option (like UK) it will display another tab and show you both.

Aquos76 · 01-03-2021 8:27am

Anyone else having issues with delayed transactions more and more lately. It’s been happening regularly for me for nearly a month now. It’s getting quite tricky to keep track of my balance because of it also.

Buffman · 09-03-2021 12:12am

ciarsd wrote: »

My virtual card was replaced yesterday evening, via an App notification. The original Visa equivalent is still there but its replacement is indeed a Mastercard. The Visa will be inactive in around 60 days, as I have it hooked up as my primary payment on my Google Pay, I've now swapped it over to the Mastercard equivalent.

I've had the same happen with 3 separate Visa virtuals, all replaced with Mastercards. It must be a commercial decision. Bit of a pain changing everything over so hopefully they don't make a habit of it.

Niall20 · 09-03-2021 1:58pm

Received an offer from Revolut today to upgrade my card to a premium or metal account and receive 20% cashback on grocery shopping over the next 2 months (up to a total of €48 on Metal or €24 on Premium).

Has anyone else got this offer? Is it a good deal? Can't decide if the premium packages are worth the extra or not

purplestar77 · 09-03-2021 2:38pm

I got this offer email also. Seemed really great at first glance (I thought you could get €120 cashback

but no such luck)

The cost of metal is €13.99 per month and the max savings are €24 so you are only making a tenner on it per month. Personally I don't think is worth the bother for 2 months, and I would have to cancel the metal plan afterwards?

Niall20 · 09-03-2021 2:46pm

I think you have to commit to 12 months regardless. Agreed that it effectively just means a small discount off for a years subscription, just wondered if anyone thought it was worth it these days for those higher plans? Seems like fairly minimal benefits to me and i'm a heavy user of the free card

Suckit · 09-03-2021 4:19pm

Niall20 wrote: »

Received an offer from Revolut today to upgrade my card to a premium or metal account and receive 20% cashback on grocery shopping over the next 2 months (up to a total of €48 on Metal or €24 on Premium).

Has anyone else got this offer? Is it a good deal? Can't decide if the premium packages are worth the extra or not

I got the offer, and right now, it doesn't seem like an enticing enough offer for me.

Linoge · 10-03-2021 12:38am

Niall20 wrote: »

Received an offer from Revolut today to upgrade my card to a premium or metal account and receive 20% cashback on grocery shopping over the next 2 months (up to a total of €48 on Metal or €24 on Premium).

Has anyone else got this offer? Is it a good deal? Can't decide if the premium packages are worth the extra or not

I dont know where they are getting their maths from. They say its 20% on Metal card up to a max spend of €120 which is €24, but then on the same offer they are saying that you can save €48 per month. Its not making any sense to me

Niall20 · 10-03-2021 12:49am

I think thats deliberately misleading to make it sound better than it is.. €24 per month for 2 months = €48 total

adventures · 10-03-2021 3:39pm

spend 120x2 months = €48
* From 5th March 2021 to 4th April 2021 (the “March Campaign”); and
* From 5th April 2021 to 4th May 2021 (the “April Campaign”),

It is not a good deal as you would need to sign up for at least 2 months cancellation fee €28

11-03-2021 3:58pm

Is the offer only for two months or does it carry on?

Niall20 · 11-03-2021 4:03pm

Just for 2 months

markc1184 · 12-03-2021 9:05am

Anyone having issues adding money?

Calahonda52 · 13-03-2021 9:51am

When I click on the text message link and I open the app it says
we're sorry, something has gone wrong, Please try again later.
This has been for 2 days, and the app wont open.
Payment shows as pending in the App
edit
Uninstalled the app and now it wont reinstall on Android

paska · 13-03-2021 10:09am

Calahonda52 wrote: »

When I click on the text message link and I open the app it says
we're sorry, something has gone wrong, Please try again later.
This has been for 2 days, and the app wont open.
Payment shows as pending in the App
edit
Uninstalled the app and now it wont reinstall on Android

Clutching at straws but did you restart your phone and try to install again?

markc1184 · 13-03-2021 10:19am

paska wrote: »

Clutching at straws but did you restart your phone and try to install again?

I eventually deleted and reinstalled the app and everything has worked fine since.

Calahonda52 · 13-03-2021 12:10pm

Thanks, rebooted from cold 10 or more times, now the app won't load so looks like I will need to get a new phone as it loads on my partners android

delly · 19-03-2021 9:41am

Have you checked your phone memory, if near full it won't install.

Calahonda52 · 19-03-2021 12:55pm

delly wrote: »

Have you checked your phone memory, if near full it won't install.

Thanks will have look, I put it on another one got an interim solution
ps 20 Gb left!

Revolut Megathread.

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