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Revolut CFO resigns following money laundering controversy

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Re: Revolut CFO resigns following money laundering controversy

#131

Post by ucha »

braythwayt wrote: post #56

I’m looking forward to the coming Theranos/Frye Festival postmortem exposés. With respect to the CFO, My uninformed guess is that he originally argued for compliance, but was bullied into “playing along” with the growth at ALL costs mantra.

That's not going to happen. This schadenfreude is sad and hard to understand. You're comparing companies that were criminal enterprises that produced no value to a real company that has millions of happy and real customers. Their app has a 4.9 rating on the app store...

Re: Revolut CFO resigns following money laundering controversy

#132

Post by SideburnsOfDoom »

spectramax wrote: post #112
baby wrote: post #81

Earlier quoted context omitted.

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

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

The killer feature for both Monzo and Revolut, is that when you use the card to pay for something, the app notifies you immediately. Sometimes it's fast enough that you have confirmation of the transaction before the merchant does.

_edit_ I didn't mean to imply that this was _unique_ to only Monzo and Revolut worldwide. But it is unusual in the UK - it is it is something that regular UK Big banks don't do, or are rushing to catch up with now.

Re: Revolut CFO resigns following money laundering controversy

#133

Post by jscholes »

ucha wrote: post #123
baby wrote: post #81

Earlier quoted context omitted.

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.

> 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.

Try TransferWise borderless.

Re: Revolut CFO resigns following money laundering controversy

#134

Post by mAEStro-paNDa »

apercu wrote: post #117
apercu wrote: post #101

A company with ties to Putins oligarchy involved in money laundering? How shocking. /s Facts: CEO's father is a deputy director Gazprom, and one of the investors is Yuri Milner, who the paradise papers outed for channeling Kremlin cash in to tech co's.

I couldn't care less about being downvoted, but would love to hear your opinion as to why you disagree with what I wrote. Otherwise I have to assume you're in the pay of Russia.

Is it not possible that this person just disagreed with your logic, conclusion, or both, and did not want to comment? I find this to be a quite cynical and paranoid take on being downvoted in this case.

Re: Revolut CFO resigns following money laundering controversy

#135

Post by braythwayt »

ucha wrote: post #131
braythwayt wrote: post #56

I’m looking forward to the coming Theranos/Frye Festival postmortem exposés. With respect to the CFO, My uninformed guess is that he originally argued for compliance, but was bullied into “playing along” with the growth at ALL costs mantra.

That's not going to happen. This schadenfreude is sad and hard to understand. You're comparing companies that were criminal enterprises that produced no value to a real company that has millions of happy and real customers. Their app has a 4.9 rating on the app store...

If you want to cheer for them, carry on.

They have already been revealed as a company that flouts employment law and every standard of decency. If you find my attitude towards such an enterprise "sad," well, carry on with that as well.

I am not here to cheer for the amoral "It doesn't matter how we get there, as long as the result looks good according to the metrics people use to decide whether to give us money."

Re: Revolut CFO resigns following money laundering controversy

#136

Post by ucha »

jscholes wrote: post #133
ucha wrote: post #123

Earlier quoted context omitted.

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.

> 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. Try TransferWise borderless.

Transferwise charges 0.5% for fx conversions as far as I know.

Re: Revolut CFO resigns following money laundering controversy

#137

Post by tomalpha »

SideburnsOfDoom wrote: post #132
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.

The killer feature for both Monzo and Revolut, is that when you use the card to pay for something, the app notifies you immediately. Sometimes it's fast enough that you have confirmation of the transaction before the merchant does. _edit_ I didn't mean to imply that this was _unique_ to only Monzo and Revolut worldwide. But it is unusual in the UK - it is it is something that regular UK Big banks don't do, or are rus…

I (think I) have that with an Amex card linked to Apple Pay.

I get the iOS notification instantly when I pay for something with the card, whether in person or online.

Is this something more? (I'm a potential adopter if so)

Re: Revolut CFO resigns following money laundering controversy

#139

Post by Robin_Message »

sschueller wrote: post #127
Robin_Message wrote: post #125

Earlier quoted context omitted.

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.

Oh I see, fair enough, that makes a lot more sense! Good on you for taking an ethical stance and good luck actually cancelling.

Re: Revolut CFO resigns following money laundering controversy

#140

Post by nullify88 »

saiya-jin wrote: post #121
baby wrote: post #114

Earlier quoted context omitted.

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.

Where do you travel? The cards are on the Visa or Mastercard network so I'd expect the majority of ATMs to support Revolut.
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