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Thread: Revolut

  1. #1
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    Default Revolut

    Anyone use this card, pseudobank thing? I live in euro zone and have money in pounds plus go to Russia quite often too (cos of girlfriend) so anything which reduces exchange rates is potentially a godsend... so far it's been good but there have been a few issues. Thoughts anyone? Alternatives?

  2. #2
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    Quote Originally Posted by IdleRich View Post
    Anyone use this card, pseudobank thing? I live in euro zone and have money in pounds plus go to Russia quite often too (cos of girlfriend) so anything which reduces exchange rates is potentially a godsend... so far it's been good but there have been a few issues. Thoughts anyone? Alternatives?
    I do, but I think TransferWise might be even better for reducing exchange rates, speed and security.
    I have more confidence in it, ultimately, than I do in Revolut, which has been in the news for the wrong reasons lately.

  3. #3
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    yeah, they're scum aren't they?

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    Probably, they are a bank... but why in particular? I know they are kinda vague about fees etc

  5. #5
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    I do, but I think TransferWise might be even better for reducing exchange rates, speed and security.
    I have more confidence in it, ultimately, than I do in Revolut, which has been in the news for the wrong reasons lately.
    I tried TW today. I'm in Russia and wanted to send some money to my girlfriend's brother but it kept saying that the card number was "the wrong format" which it wasn't cos it was right there on his card and we checked if fifty times. That was incredibly frustrating, there was no way past it, the help function seemed to have only general queries and I couldn't figure out how to message them and ask the question. Just gave up in the end - completely no way past that screen erroneously and intractably saying "nope". At least with Revolut they have these online chat guys that you can ask any question to in real time (though lately they have been busy as fuck and you have to wait an hour for them to talk to you).

  6. #6
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    There was a big thing recently about the appalling ways they treat staff.

  7. #7
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    Quote Originally Posted by droid View Post
    There was a big thing recently about the appalling ways they treat staff.
    Oh really? I totally missed that. I've not seen anything about the company or its ethics at all. I've seen some people worrying that a loophole in EU law means that some banks can choose any central bank as their backer and guarantor and that the Latvian central bank (I think it is) has been profiting from this by agreeing to guarantee loads of these fancy new things with the result that people using such a bank might assume that their accounts are safe cos EU demands that there is a guarantor and there is... but if they read the small print they will discover that the guarantor is a tiny bank from a Baltic state rather than one of the rather more hefty ones... and if they read a bit further about this they will also find out that it is guaranteeing sums much larger than it is actually able to. For me that's not such a big deal in that so far I only transfer a sum to the card and then change its currency and then withdraw or otherwise spend that money - but you might wanna think twice about using it as your only account with all your money cos if it crashes you will lose that money.

  8. #8
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    https://www.wired.co.uk/article/revo...tics-storonsky It's almost as if they're using their staff as completely disposable human resources...

    Storonsky would go on to say in the interview that the company attracted people that want to grow and “growing is always through pain”.

  9. #9
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