Revolut

[Tony50]

On BBC Panorama didn't catch all they were saying, but it appeared some people had been scammed and, felt they had been poorly treated .

 

[Chris Allison]

On BBC Panorama didn't catch all they were saying, but it appeared some people had been scammed and, felt they had been poorly treated .

I recently got a Revolut account so that I could get the Bip&Go. My Virgin Money account didnt have the necessary IBAN to allow me to purchase the Bip&Go. The revolut worked perfectly.
I found the Revolut easy to set up on the App. Whilst it can be used solely via the App I decided to get a physical card which actually cost £3.99 (I think) which did gaul me a little, but hey ho.
The thing I really like when using the App is the "Virtual Card" system. You can create a debit card in the App for one time use only. This allows you to buy, online for instance, and then after this one use the virtual card disappears and the numbers are rendered obsolete, so keeping the account secure....I really like this system.
I use the most basic options in the App and haven't purchased upgrades as I dont need it as a day to day card so I may not have experienced the dissatisfaction of others
I wonder what the Scam is referred to ?

 

[Figaro]

I wonder what the Scam is referred to ?

The one I read about was the account holder got scammed into buying crypto and when it all went wrong wanted her money back from revolut
Not certain of the details but that was the gist of it.

 

[DT]

Revolut worked great for us.

 

[StillGoing]

Revolut is not yet a fully authorised UK bank. It still has some restrictions.

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[Tony50]

I recently got a Revolut account so that I could get the Bip&Go. My Virgin Money account didnt have the necessary IBAN to allow me to purchase the Bip&Go. The revolut worked perfectly.
I found the Revolut easy to set up on the App. Whilst it can be used solely via the App I decided to get a physical card which actually cost £3.99 (I think) which did gaul me a little, but hey ho.
The thing I really like when using the App is the "Virtual Card" system. You can create a debit card in the App for one time use only. This allows you to buy, online for instance, and then after this one use the virtual card disappears and the numbers are rendered obsolete, so keeping the account secure....I really like this system.
I use the most basic options in the App and haven't purchased upgrades as I dont need it as a day to day card so I may not have experienced the dissatisfaction of others
I wonder what the Scam is referred to ?

A Surgeon lost £39000 apparently but , reading about bit I think he was probably not careful , ( brains doesn't mean you have common sense ! )

 

[Gromett]

A Surgeon lost £39000 apparently but , reading about bit I think he was probably not careful , ( brains doesn't mean you have common sense ! )

From memory he sent a small amount as a test transaction for crypto then in a really dufus move he used a different method to send the rest. That transfer failed in such as way that revolut are unable to recover the money for him.

I am with Revolut on this one. Why should they be responsible for him not following the correct procedure.

 

[CamperManLez]

The one I read about was the account holder got scammed into buying crypto and when it all went wrong wanted her money back from revolut
Not certain of the details but that was the gist of it.

What idiot would buy crypto from an outfit such as Revolut, use it for what it does which a payments card

 

[Figaro]

What idiot would buy crypto from an outfit such as Revolut, use it for what it does which a payments card

To be fair she may not have bought through Revolut, maybe just paid with them ?
I wasn't paying that much attention to the details

 

[Odd-no-more]

The government had decided that even if people are incredibly stupid, the bank must give them their money back. Because most people hate banks this has become the default and is required. As Revolut is not yet a bank they got away with not paying.

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[Gromett]

What idiot would buy crypto from an outfit such as Revolut, use it for what it does which a payments card

He didn't get the crypto from them he was trying to transfer it in for use.

 

[Gromett]

The government had decided that even if people are incredibly stupid, the bank must give them their money back. Because most people hate banks this has become the default and is required. As Revolut is not yet a bank they got away with not paying.

If they force it, banks will have to start charging an idiot tax to cover the losses. No more free banking.

 

[Brains]

Just remember Revolut is not a bank.
So they do not have to stick to banking rules.

There are plenty of other real banks out there that can provide a Euro account.

 

[Gromett]

Just remember Revolut is not a bank.
So they do not have to stick to banking rules.

There are plenty of other real banks out there that can provide a Euro account.

Revolut are authorised as a bank. they are currently in a probationary period called mobilisation.

But they would not risk that process. They most certainly do have to stick to banking rules.

https://help.revolut.com/help/more/legal-topics/is-revolut-a-bank/

 

[gus-lopez]

Just remember Revolut is not a bank.
So they do not have to stick to banking rules.

There are plenty of other real banks out there that can provide a Euro account.

They are a bank in the sensible part of Europe.

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[motorhumour]

Had a Revolut card for a few years now.
I find it easy to use and works well with Apple Pay etc…
Single use card available if you are not happy with the place you are using it at…. So they can’t sell your card details on etc…
There are some limitations on cash withdrawals…. But I don’t use it for that…

 

[funflair]

What idiot would buy crypto from an outfit such as Revolut, use it for what it does which a payments card

It's just as easy and safe to buy crypto on Revolut as it is to buy Euro or any other currency, the only difference is the account value has doubled where the others are pretty static.

 

[Shrimp]

We both have Revolut cards and are very happy with them.
We don’t go into Crypto or anything else, just use them as a way to save money, cards only ever have any amount of money on them when going to France.

 

[EuroTrotters]

I have used Revolut since 2017, no issues.

I am a heavy user so subscribe to Metal plan.

I use it for €uros, Yen, AED and US dollars. Never had a single fraud issue.

Just like any financial transaction, you have to be careful. Common Sense is not that common amongst a Lot of clever people .

 

[scotjimland]

We also both have a Revolut card for years now..

Even when holidaying in the UK, Jan likes to have it topped up with her own "spending" money...

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