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Revolut CFO resigns following money laundering controversy

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Re: Revolut CFO resigns following money laundering controversy

#121

Post by saiya-jin »

baby wrote: post #114
spectramax wrote: post #112

Earlier quoted context omitted.

What are the reasons one should get a banking app? I’ve never heard of Revolut or Monzo.

App only. Everything is free. Budgetting. Security. Traveling. Splitting bill or sending money. The reasons are usually infinite.

Yeah, real blessing for travelling it seems - for last 2 years, every time we travel somewhere, we meet somebody (young, from Europe) who has some issues withdrawing money/paying with Revolut. Wasting hours running around town finding which ATM/branch would work with some obscure semi-bank account.

It has its benefits, but travelling around the world currently doesn't seem like one.

Re: Revolut CFO resigns following money laundering controversy

#122

Post by kristianc »

tnolet wrote: post #20
gondo wrote: post #3

also CEO of Revolut: "Why aren’t you working on weekends?" https://twitter.com/phillipcaudell/status/110108122935141580...

Should there be some kind of “shit list” or “toxic list” for tech companies? Admittedly, public shaming & blaming is tricky if you don’t know the context, and faking a Slack screenshot is trivial (not saying the one here is fake). I guess Glassdoor is as close as it gets now, together with leaks on Twitter posted by the parent.

Revolut FYI has a 4.2 rating on Glassdoor.

One of the problems with Glassdoor is availability bias - it selects in the people who have been around at companies like this for a while and/or thrive in this kind of culture and selects out people who take one look at a company culture like this and leave within a week.

Re: Revolut CFO resigns following money laundering controversy

#123

Post by ucha »

baby wrote: post #81
sschueller wrote: post #45

How do I cancel my account? Nothing in the FAQ and support chat in the app is trying to sell me a metal card. EDIT: found it: https://www.revolut.com/help/profile/i-want-to-terminate-my-... EDIT2: What a shit show, I have been trying to delete my account for more than 30 minutes now. When you chat through the app you are first connected to a bot which you need to tell you want to talk to a human, after waiting a whil…

I highly recommend Monzo instead :) it is light years ahead of Revolut.

Revolut is the only bank I know of that does free fx conversions, it's a huge feature and money saver for people that have bank accounts in different countries and currencies.

Re: Revolut CFO resigns following money laundering controversy

#124

Post by roymurdock »

orf wrote: post #119
baby wrote: post #111

Earlier quoted context omitted.

The people of London will have to disagree with you. Monzo has won the war there.

Sure, but that's one city out of thousands. Revolut is an awesome card for travelling, comissionless exchanges at the interbank rate and is available throughout europe, and it's winning there. Where it counts.

i use transferwise which i trust more to be around in 10 years and not doing anything idiotic with my money and bank account details

any company with roots/ties in the cryptocurrency scene is waving a giant red flag to users, as confirmed by the latest money laundering mess revolut is going through

Re: Revolut CFO resigns following money laundering controversy

#125

Post by Robin_Message »

sschueller wrote: post #45

How do I cancel my account? Nothing in the FAQ and support chat in the app is trying to sell me a metal card. EDIT: found it: https://www.revolut.com/help/profile/i-want-to-terminate-my-... EDIT2: What a shit show, I have been trying to delete my account for more than 30 minutes now. When you chat through the app you are first connected to a bot which you need to tell you want to talk to a human, after waiting a whil…

Out of interest, do you feel so strongly that money laundering should be prevented that you are unwilling to do business with a company that might be not doing enough to prevent it?

If not, what is it that Revolut has done according to this article that makes you want to quit?

Re: Revolut CFO resigns following money laundering controversy

#126

Post by entity345 »

ToFundorNot wrote: post #115
entity345 wrote: post #89

Earlier quoted context omitted.

That's the not the point of the thread you're replying to. Someone claimed that it was the bank's fault because they did nothing to prevent money laundering. Why would they if they are not forced to? When you run a business you do not turn customers away, especially they they want to give you plenty of cash... It's naive or hypocritical to claim otherwise.

I feel like you're missing the circular logic of your argument. The laws are crazy because banks will not self regulate. They openly allow illicit funds, so rules need to be applied to stem the source. None is blaming them for accepting funds from anyone that they come across, but there should be no confusion as to why the rules exist: because the banks will indiscriminately allow the transfer of funds from illegitim…

Nothing circular in my argument. I feel you're wilfully ignoring what I wrote.

Re: Revolut CFO resigns following money laundering controversy

#127

Post by sschueller »

Robin_Message wrote: post #125
sschueller wrote: post #45

How do I cancel my account? Nothing in the FAQ and support chat in the app is trying to sell me a metal card. EDIT: found it: https://www.revolut.com/help/profile/i-want-to-terminate-my-... EDIT2: What a shit show, I have been trying to delete my account for more than 30 minutes now. When you chat through the app you are first connected to a bot which you need to tell you want to talk to a human, after waiting a whil…

Out of interest, do you feel so strongly that money laundering should be prevented that you are unwilling to do business with a company that might be not doing enough to prevent it? If not, what is it that Revolut has done according to this article that makes you want to quit?

Nothing to do with that. It's because of this: https://twitter.com/phillipcaudell/status/110108122935141580... and how the company operates. Not something I want to support.

Re: Revolut CFO resigns following money laundering controversy

#128

Post by sorokod »

gameswithgo wrote: post #86
wil421 wrote: post #42

Earlier quoted context omitted.

Why would anyone work for a company like this? You startup folk are much better than this! Thankfully this person pushed back. Why would you ever put up with something like this? I would laugh at the recruiter or manager if I was asked to do something like this. It’s akin to that door to door knife company that takes advantage of college kids. There was a wired article in the twitter link you provided. >She did a 30-…

>Why would anyone work for a company like this? For a sufficient amount of money I would do it. But it would be a LOT.

"They are telling this of Lord Beaverbrook and a visiting Yankee actress. In a game of hypothetical questions, Beaverbrook asked the lady: ‘Would you live with a stranger if he paid you one million pounds?’ She said she would. ‘And if be paid you five pounds?’ The irate lady fumed: ‘Five pounds. What do you think I am?’ Beaverbrook replied: ‘We’ve already established that. Now we are trying to determine the degree."

Re: Revolut CFO resigns following money laundering controversy

#129

Post by chosenbreed37 »

seibelj wrote: post #95

Money laundering in traditional banking?!?! I thought that only happened in cryptocurrency!

> Money laundering in traditional banking?!?! I thought that only happened in cryptocurrency!

From my reading there was no evidence of any money laundering having taken place. But yes money laundering has habitually happened in the traditional banking system. Personally I think the banks get a lot more flack than is warranted. There have been some really obvious cases but criminals are generally are usually one step ahead of any measures prevention measures. And as a retail client provided I'm not losing my money I don't mind what other clients they have on their books. If regulators do than they're free to punish any offending banks as they see fit.

Re: Revolut CFO resigns following money laundering controversy

#130

Post by pas »

robotmay wrote: post #99

I ditched Revolut last year and moved to Starling, pretty much entirely because I was sick of them trying to fucking sell me stuff in a "banking app" (they weren't a registered bank at the time, AFAIK). It became near impossible to actually use their app due to the amount of marketing horseshit being rammed through it, so I left, moved to Starling (which is fantastic) and I'll never go back. In fact Starling has been…

> Starling

Seems to be UK only :/

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