Revolut Megathread.

Yggr of Asgard · 04-05-2021 1:10pm

JoyOfGood wrote: »

I tried to make a payment on PayPal with my Revolut card, and it's getting declined by Revolut because the merchant (PayPal) does not have 3D Secure, based on new legislation.

Is this just with Revolut? Or has anyone had similar issues with N26?

If you try to pay more than 30€ than PayPal should request the 3D validation during the transaction. There are some exceptions like subscriptions or secure companies that previously have been approved. So PayPal has classed you as low risk and says, just give me your details, I won't attempt 3D because you know I feel comfortable with this due to the exceptions.

Revolut however interprets the rules quite strict and does not do exceptions where other would (like with PayPal being a secure company you have used before), so if PayPal does not request the 3D validation, then Revolut declines the authorization.

They have quite a hard stance on it https://blog.revolut.com/internet-payments-are-becoming-more-secure/

So, your issue here is PayPal not requesting the code when they should and Revolut (possibly because you know they are in the same business) standing a hard line that they demand it (which they are entitled to).

Ultimately it's PayPal here who does not request the 3D verification as they should, so your only option is to top up your PayPal account, use a card with a more relaxed approach or try again and hope that PayPal kicks in the 3D validation.

TaurenDruid · 04-05-2021 1:28pm

robwen wrote: »

Got an email from Revolut today to provide missing tax information, is this common have others gotten this email request?

Missing tax information? What kind of information? And why? I don't recall any of the Irish banks or the Post Office or credit union ever asking for tax information. Sounds scammy.

Yggr of Asgard · 04-05-2021 1:36pm

TaurenDruid wrote: »

Missing tax information? What kind of information? And why? I don't recall any of the Irish banks or the Post Office or credit union ever asking for tax information. Sounds scammy.

Revolut UAB is required to report to Revenue certain information about your account. To facilitate this automated process they require your Tax ID which in this case is your PPS.

And both the post office and your credit union will have asked for your PPS and proof of it when you opened the account.

Failure to do so can result in your account be closed and Revenue be informed manually.

TaurenDruid · 04-05-2021 1:47pm

Yggr of Asgard wrote: »

Revolut UAB is required to report to Revenue certain information about your account. To facilitate this automated process they require your Tax ID which in this case is your PPS.

And both the post office and your credit union will have asked for your PPS and proof of it when you opened the account.

Failure to do so can result in your account be closed and Revenue be informed manually.

It's not today nor yesterday I opened them, and you certainly didn't need a PPS, back then anyway. KBC looked for a PPS when I opened an account there, the year before last. Can't remember if Revolut did or didn't, to be honest, but if they didn't, that's a pretty big omission!

Doodah7 · 04-05-2021 2:27pm

robwen wrote: »

Got an email from Revolut today to provide missing tax information, is this common have others gotten this email request?

I did. In the app it asks for your country and PPS No.

Took me ten seconds and I got on with my life.

robwen · 04-05-2021 3:12pm

TaurenDruid wrote: »

Missing tax information? What kind of information? And why? I don't recall any of the Irish banks or the Post Office or credit union ever asking for tax information. Sounds scammy.

That's the core of the email, I've been into the app now & it's legit not a scam, as others have said asks for your country & PPS number

"Revolut as a financial institution is required to report information directly to governmental tax authorities about the accounts held by our customers.

We know this can be frustrating, but we're required by law to verify this information. All you need to do is open your Revolut app, go to the home page and tap on the tile asking you to submit your missing tax info.

Why do I need to submit this info?

As mentioned above, according to CRS (Common Reporting Standard), Revolut is required to report information directly to tax authorities concerning financial accounts held by customers who are tax residents in another country.

We are also required to report information about financial accounts held by U.S. taxpayers or by foreign entities (in which U.S. taxpayers hold a substantial ownership interest according to FATCA (Foreign Account Tax Compliance Act) to the United States Department of Treasury and the Internal Revenue Service (“IRS”).

If you're getting this email, it means we're missing either your tax number or information about your tax residency. You're typically considered a tax resident in countries where you pay taxes or you're physically present for at least 6 months of the year.

This verification process shouldn't take more than a few minutes. We really appreciate your cooperation."

Thanks,
Team Revolut

Creamy Goodness · 04-05-2021 3:16pm

Doodah7 wrote: »

I did. In the app it asks for your country and PPS No.

Took me ten seconds and I got on with my life.

Always freaks me out a little how tetchy people get about financial institutions fulfilling their legal obligations.

The J Stands for Jay · 04-05-2021 5:32pm

TaurenDruid wrote: »

Missing tax information? What kind of information? And why? I don't recall any of the Irish banks or the Post Office or credit union ever asking for tax information. Sounds scammy.

For Irish banks and the post office, you live in the same country as those institutions. Revolut is based in Lithuania, so that difference in location means you are likely to fall under the CRS reporting requirements.

Irish banks are required to get your PPS number.

Verwolff · 05-05-2021 11:28am

I gave Revolut my PPS yesterday in their app. Soon after I started getting phone calls from Department of Social protection, who were claiming that my PPS had been compromised and used by "criminals". There is investigation conducted and my PPS had been suspended due to suspicion of money laundering! Geez! Such a mess. I'm still not sure was the caller who I have spoken to real or maybe he was criminal? Although he gave his details and the case number but honestly that phone call seems to me suspicious more than giving my PPS to Revolut in the app installed in my phone.

Did you have any issues like this?

testtech05 · 05-05-2021 11:32am

Verwolff wrote: »

I gave Revolut my PPS yesterday in their app. Soon after I started getting phone calls from Department of Social protection, who were claiming that my PPS had been compromised and used by "criminals". There is investigation conducted and my PPS had been suspended due to suspicion of money laundering! Geez! Such a mess. I'm still not sure was the caller who I have spoken to real or maybe he was criminal? Although he gave his details and the case number but honestly that phone call seems to me suspicious more than giving my PPS to Revolut in the app installed in my phone.

Did you have any issues like this?

I think I read an article somewhere over the weekend warning about similar hoax calls being carried out, will see can I find it.
It could hopefully be just a coincidence that you happened to have given your PPS to Revolut the same day.

Edit: here is an article on the scam I was thinking of https://www.thejournal.ie/scam-warning-social-protection-phone-5403248-Apr2021/

chasm · 05-05-2021 11:40am

Verwolff wrote: »

I gave Revolut my PPS yesterday in their app. Soon after I started getting phone calls from Department of Social protection, who were claiming that my PPS had been compromised and used by "criminals". There is investigation conducted and my PPS had been suspended due to suspicion of money laundering! Geez! Such a mess. I'm still not sure was the caller who I have spoken to real or maybe he was criminal? Although he gave his details and the case number but honestly that phone call seems to me suspicious more than giving my PPS to Revolut in the app installed in my phone.

Did you have any issues like this?

That sounds like one of the social welfare scam calls that has been doing the rounds recently.

Doodah7 · 05-05-2021 12:14pm

The Department of Social Protection are not going to ringing up people about their PPS Number. For a start, they are issued by Revenue!!

Let me guess, they needed to confirm your PPS No. at the start of the call??

JamesBond2010 · 05-05-2021 12:24pm

Same from Aib The Actual Aib number shows up but its not from them. If ever in doubt just hang up & ring them back & you will see then if it is a scam or not.

The J Stands for Jay · 05-05-2021 12:33pm

Verwolff wrote: »

I gave Revolut my PPS yesterday in their app. Soon after I started getting phone calls from Department of Social protection, who were claiming that my PPS had been compromised and used by "criminals". There is investigation conducted and my PPS had been suspended due to suspicion of money laundering! Geez! Such a mess. I'm still not sure was the caller who I have spoken to real or maybe he was criminal? Although he gave his details and the case number but honestly that phone call seems to me suspicious more than giving my PPS to Revolut in the app installed in my phone.

Did you have any issues like this?

How can a ppsn be suspended?

Yggr of Asgard · 05-05-2021 12:54pm

Doodah7 wrote: »

The Department of Social Protection are not going to ringing up people about their PPS Number. For a start, they are issued by Revenue!!

Let me guess, they needed to confirm your PPS No. at the start of the call??

The Department for Social Protection issues PPS numbers not Revenue.

And generally, they won't contact you by phone about issues.

If you are not signed up for MyGovID than you get a good old-fashioned letter into your mailbox.

awec · 05-05-2021 1:51pm

TaurenDruid wrote: »

Lol - requested a physical metal card from Revolut as I wanted a mastercard (I have Visa, but things like the Rugby World Cup only letting people with Mastercard buy tickets are way too much hassle).

Cards are delivered by Fastway. Or, more accurately, not delivered, they just said they'd delivered it.

Revolut sending a new card. Again, by Fastway.

And just noticed in the app, the card (advertised in the app as Mastercard when you pick it) is actually a Visa, anyway. /sigh

#FirstWorldProblems

The virtual temporary Revolut cards are Mastercard. At least mine is. I used one for the world cup tickets.

Buffman · 05-05-2021 4:53pm

awec wrote: »

The virtual temporary Revolut cards are Mastercard. At least mine is. I used one for the world cup tickets.

Ye, all new virtual cards are Mastercard at the moment. They seem to be cancelling all the virtual Visas with 60 days notice.

Wheety · 05-05-2021 5:59pm

Verwolff wrote: »

I gave Revolut my PPS yesterday in their app. Soon after I started getting phone calls from Department of Social protection, who were claiming that my PPS had been compromised and used by "criminals". There is investigation conducted and my PPS had been suspended due to suspicion of money laundering! Geez! Such a mess. I'm still not sure was the caller who I have spoken to real or maybe he was criminal? Although he gave his details and the case number but honestly that phone call seems to me suspicious more than giving my PPS to Revolut in the app installed in my phone.

Did you have any issues like this?

Just a coincidence that they rang you after you gave your PPS to Revolut. As has been pointed out, it's a scam call. Did you give them any details?

Bummer1234 · 05-05-2021 9:09pm

Verwolff wrote: »

I gave Revolut my PPS yesterday in their app. Soon after I started getting phone calls from Department of Social protection, who were claiming that my PPS had been compromised and used by "criminals". There is investigation conducted and my PPS had been suspended due to suspicion of money laundering! Geez! Such a mess. I'm still not sure was the caller who I have spoken to real or maybe he was criminal? Although he gave his details and the case number but honestly that phone call seems to me suspicious more than giving my PPS to Revolut in the app installed in my phone.

Did you have any issues like this?

There is alot of them scam calls going on at the moment all over the country so i doubt its related to revolut and id just ignore it.

sweetie · 06-05-2021 10:51am

Have been having issues for a bit in getting money sent to me via my phone number. seems to work better if I share my id link but wondering if there's something I can do or check? I've tried support but lost the will to live whilst waiting.

JamesBond2010 · 06-05-2021 11:39am

sweetie wrote: »

Have been having issues for a bit in getting money sent to me via my phone number. seems to work better if I share my id link but wondering if there's something I can do or check? I've tried support but lost the will to live whilst waiting.

usually instant on android anyway used it few times touch wood.

The Black Oil · 06-05-2021 12:23pm

Where within the app do I put in my PPS number?

Yggr of Asgard · 06-05-2021 12:41pm

And for those who do not regularly monitor the revolut blog

Bitcoin withdrawals have landed [for Metal Customers], so you now can send your bitcoin to other wallets rather than just selling them.

https://blog.revolut.com/bitcoin-withdrawals-have-landed/

Gooser14 · 06-05-2021 12:59pm

Anyone experiencing problems with adding & saving notes in individual transactions? This started last night & is still a problem.

Edit: Been in contact with Revolut who confirmed it is a known problem which is being worked on!

msmx5 · 06-05-2021 8:49pm

Gooser14 wrote: »

Anyone experiencing problems with adding & saving notes in individual transactions? This started last night & is still a problem.

Edit: Been in contact with Revolut who confirmed it is a known problem which is being worked on!

Me too - This is a reoccurring problem that seems to rear its head every few updates - not sure how this escapes their testing process so often.

HalfAndHalf · 06-05-2021 9:00pm

Yggr of Asgard wrote: »

And for those who do not regularly monitor the revolut blog

Bitcoin withdrawals have landed [for Metal Customers], so you now can send your bitcoin to other wallets rather than just selling them.

https://blog.revolut.com/bitcoin-withdrawals-have-landed/

This is only for U.K. customers at the moment, no news yet on when it will get to us.

wandererz · 08-05-2021 10:29am

I transferred a few K worth of euro from Revolut to N26.

It was around 1.40am
The Revolut app, mentioned mere seconds.

I received a notice a few seconds later from N26 that a payment was received. Timestamped 1.49am.

This was on a Saturday too.

AIB or Ptsb would not be that fast, would not provide notification of deposit and would possibly not show the transaction until the next working day.

In fact, to AIB, the Revolut app shows Monday expected arrival.

This is fantastic functionality!

bladespin · 08-05-2021 10:49am

Just found this thread

Love Revolut and am using it more and more, looking at some of their services I noticed crypto investment, stuck a few euro into a couple as an experiment, what are your opinions of using Revolut as an investment tool? (Mini stakes for me really).

wandererz · 08-05-2021 11:40am

bladespin wrote: »

Just found this thread

Love Revolut and am using it more and more, looking at some of their services I noticed crypto investment, stuck a few euro into a couple as an experiment, what are your opinions of using Revolut as an investment tool? (Mini stakes for me really).

It's limited in terms of the Crypto assets and stocks supported.
And crypto cannot be transferred externally (soon to change, for chargeable accounts).

That being said, it provides easy access to crypto and stocks without having to setup accounts with 3rd parties and having to do kyc etc again.

I've heard from a few people that they are using Revolut for crypto trading. It's a good intro for people into a confusing world.

Dodge · 08-05-2021 12:07pm

wandererz wrote: »

I transferred a few K worth of euro from Revolut to N26.

It was around 1.40am
The Revolut app, mentioned mere seconds.

I received a notice a few seconds later from N26 that a payment was received. Timestamped 1.49am.

This was on a Saturday too.

AIB or Ptsb would not be that fast, would not provide notification of deposit and would possibly not show the transaction until the next working day.

In fact, to AIB, the Revolut app shows Monday expected arrival.

This is fantastic functionality!

Can’t speak about speed but you can set up Ptsb to alert you for large deposits

I know it’s not the point of your post, but just wanted to clarify that bit

JoyOfGood · 08-05-2021 12:28pm

Jim2007 wrote: »

Revolut introduced 3DS sometime ago...

I expect the rejection is because you have not activated it on Revolut.

The customer support person said it was the merchant (i.e. PayPal) at fault, but didn't/couldn't tell me how to activate it on Revolut.

JoyOfGood · 08-05-2021 12:39pm

Yggr of Asgard wrote: »

If you try to pay more than 30€ than PayPal should request the 3D validation during the transaction. There are some exceptions like subscriptions or secure companies that previously have been approved. So PayPal has classed you as low risk and says, just give me your details, I won't attempt 3D because you know I feel comfortable with this due to the exceptions.

Revolut however interprets the rules quite strict and does not do exceptions where other would (like with PayPal being a secure company you have used before), so if PayPal does not request the 3D validation, then Revolut declines the authorization.

They have quite a hard stance on it https://blog.revolut.com/internet-payments-are-becoming-more-secure/

So, your issue here is PayPal not requesting the code when they should and Revolut (possibly because you know they are in the same business) standing a hard line that they demand it (which they are entitled to).

Ultimately it's PayPal here who does not request the 3D verification as they should, so your only option is to top up your PayPal account, use a card with a more relaxed approach or try again and hope that PayPal kicks in the 3D validation.

This makes sense. Making a purchase on other services, I'm asked to go to the Revolut app and approve the payment. Not so with PayPal. I'll avoid them for the time being.

Sheep Shagger · 08-05-2021 1:50pm

Revolut obviously have big enough lending plans in Ireland. The former head of lending solutions at AIB has left after 17 years to join Revolut as their head of lending here.

Someone of that level wouldn't be jumping ship if their plans weren't decent.

makeorbrake · 09-05-2021 12:18pm

A couple of questions on ATM withdrawals through Revolut...

- So if the first €200 (or fx equivalent) is free, on a withdrawal of €400, they're charging around 2% on that last €200 or on the entire €400?

- What ATM withdrawal limits has Revolut set per transaction (or time period) if any?

- Is the €200 fee-free withdrawal per calendar month or rolling month?

msmx5 · 09-05-2021 2:50pm

makeorbrake wrote: »

- So if the first €200 (or fx equivalent) is free, on a withdrawal of €400, they're charging around 2% on that last €200 or on the entire €400?

the last €200

- What ATM withdrawal limits has Revolut set per transaction (or time period) if any?

£3000 or currency equivalent per 24hrs

- Is the €200 fee-free withdrawal per calendar month or rolling month?

Its a rolling month based on when your current price plan started - look at the refresh date in the limits section of the app.
From the main menu Click on the circle with your initials (Top left) --> Limits (Under the Profile section) --> ATM withdrawals

JustJoe7240 · 09-05-2021 2:52pm

Sheep Shagger wrote: »

Revolut obviously have big enough lending plans in Ireland. The former head of lending solutions at AIB has left after 17 years to join Revolut as their head of lending here.

Someone of that level wouldn't be jumping ship if their plans weren't decent.

Any source for this?

Poncke · 11-05-2021 5:17pm

https://www.irishmirror.ie/news/irish-news/revolut-issues-scam-warning-payment-24079694

Scam warning

facehugger99 · 11-05-2021 5:20pm

Poncke wrote: »

https://www.irishmirror.ie/news/irish-news/revolut-issues-scam-warning-payment-24079694

Scam warning

The scam is the Mirror constantly using clickbait headlines to try and generate traffic on their site.

I'd never click on a Mirror link.

Poncke · 11-05-2021 5:20pm

JustJoe7240 wrote: »

Any source for this?

https://www.linkedin.com/in/mauricepmurphy

Poncke · 11-05-2021 5:22pm

facehugger99 wrote: »

The scam is the Mirror constantly using clickbait headlines to try and generate traffic on their site.

I'd never click on a Mirror link.

https://www.joe.ie/news/revolut-issues-warning-to-customers-over-scam-679086

Poncke · 11-05-2021 5:24pm

facehugger99 wrote: »

The scam is the Mirror constantly using clickbait headlines to try and generate traffic on their site.

I'd never click on a Mirror link.

https://blog.revolut.com/how-to-spot-phone-or-text-message-scams/

EoinMcLovin · 11-05-2021 6:56pm

New Revolut Chrome Extension

https://www.revolut.com/get-shopper-online-deals

Our browser extension automatically finds you great discounts online and protects your details with single-use cards

Yggr of Asgard · 12-05-2021 6:13am

EoinMcLovin wrote: »

New Revolut Chrome Extension

https://www.revolut.com/get-shopper-online-deals

Getting a little bit desperate for cash flow I assume that they had to introduce their own little "honey" extension to get that commission %.

But I guess the integrated virtual card number function is kind of neat, but otherwise this is a pure desperation because "Plus, get up to 42% cashback at select brands like Apple, Nike and Myprotein." is pure marketing.

Apple give you 4% , you are better off using EPP available via various other sources.

GBX · 12-05-2021 9:31am

Somebody has sent me money that I have as a contact on my phone but have never sent or received anything through Revolut before. There is nothing showing on my app. Do I need to add them as a Revolut contact to receive it ?

wandererz · 12-05-2021 10:10am

What currency did they send it in?
If it was in a foreign currency, change the currency account on your app and it should be there.

GBX · 12-05-2021 10:35am

wandererz wrote: »

What currency did they send it in?
If it was in a foreign currency, change the currency account on your app and it should be there.

It was paid in Euro. Nothing showing in other currencies. I'll double check with the sender It's my uncle who is using Revolut for only the 2nd time and is worried something might be amiss.

Update: All sorted. He sent a test payment of a €1 and then the original transaction showed up.

The DayDream · 12-05-2021 12:37pm

Anyone noticed transfers to your Revolut account taking longer with the new Lithuanian IBAN? Transfers from my bank to the old UK one usually only took 24 hours, I transferred for the first time using the new one on Monday morning and it's still not gone through.

JTMan · 12-05-2021 5:31pm

Anyone else not experiencing this issue? ... My card details are not displaying in the card tab. Simply still not load. Thanks.

The DayDream · 12-05-2021 6:25pm

JTMan wrote: »

Anyone else not experiencing this issue? ... My card details are not displaying in the card tab. Simply still not load. Thanks.

Mine is working, but I had that happen once. But i just checked mine, tapped the eyeball icon and it asked for my fingerprint and then showed the numbers.

Update: my transfer came through now also, wahey!

Poncke · 14-05-2021 8:41am

Yggr of Asgard wrote: »

Getting a little bit desperate for cash flow I assume that they had to introduce their own little "honey" extension to get that commission %.

But I guess the integrated virtual card number function is kind of neat, but otherwise this is a pure desperation because "Plus, get up to 42% cashback at select brands like Apple, Nike and Myprotein." is pure marketing.

Apple give you 4% , you are better off using EPP available via various other sources.

Maybe I am misunderstanding something but isn't 42% more than 4%?

Revolut Megathread.

Comments