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Revolut CFO resigns following money laundering controversy

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Re: Revolut CFO resigns following money laundering controversy

#241

Post by roymurdock »

orf wrote: post #147
roymurdock wrote: post #124

Earlier quoted context omitted.

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

Strange you trust a middleman more than an a actual first-party tier-1 bank (your Revolut UK account is a Lloyds account).

of course i use a real bank for a long term savings and checkings account

i use transferwise for converting money quickly at the market rate plus a small markup rather than the higher fees and longer wait times to wire money across "real" bank accounts, the same thing you can do with revolut. i don't want or need either to replace lloyds, chase, barclays, BOA, etc.

Re: Revolut CFO resigns following money laundering controversy

#242

Post by cimi_ »

johnnycab wrote: post #165
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…

>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 is a common mis-conception to assume Revolut and Starling are the same. Revolut and Monzo probably have more in common i.e. they both started out getting crowdfunded as pre-paid cards. Monzo acquired a banking lice…

Monzo has had a banking license from the PRA and FCA in the UK since April 2017:

https://monzo.com/blog/2018/06/07/is-monzo-a-bank/

Revolut has been licensed in Lithuania in December 2018:

https://blog.revolut.com/we-got-a-banking-licence/

Big difference :)

Disclaimer: I work for Monzo.

Re: Revolut CFO resigns following money laundering controversy

#243

Post by richardknop »

ValentineC wrote: post #208
richardknop wrote: post #205

Earlier quoted context omitted.

They have received a bank license recently so they are in process of becoming a full fledged bank.

They have a European banking licence, but from what I understand, they operate as an "electronic money institution" [1][2] in the UK. [1] https://blog.revolut.com/how-emoney-companies-are-growing-up... [2] https://www.fca.org.uk/firms/electronic-money-payment-instit...

Yes. They only got the EU banking license in December. It will take at least 1-2 years before they become a bank. They will start in Estonia and then passport their banking license to other countries, eventually to UK, too. For now they are still using LLoyds bank account to hold all customer money in UK and are electronic money institution.

Re: Revolut CFO resigns following money laundering controversy

#244

Post by jacknews »

detaro wrote: post #190
apercu wrote: post #118

Earlier quoted context omitted.

"I don't believe the Russian CEO could be involved in, complicit in, or just turning a blind eye to, laundering, in any way whatsoever, so clearly this was just a stupid decision entirely on the part of the CFO to turn off the monitors due to their excessive chatter." Oh, why couldn't you possibly believe this?

If I had to guess, parent is sarcastic.

He is the son of a senior Gazprom figure. Just saying.

Re: Revolut CFO resigns following money laundering controversy

#245

Post by taurath »

cporios wrote: post #156
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…

Revolut has terrible customer support, even for paying customers of the highest tier (and they're super expensive!). Their in-app chat support agents take ages to respond and are either robots, or they act like they're robots. They know very few things, and will never let you speak to someone who can actually help you. They intentionally hide their email addresses, their "chat agents" always refuse to give you an ema…

The absolute irony of having to send a physical letter to get support for an online bank is not at all lost on me.

Re: Revolut CFO resigns following money laundering controversy

#246

Post by taurath »

SquishyPanda23 wrote: post #151
sschueller wrote: post #127

Earlier quoted context omitted.

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.

Wow he really comes across as someone who doesn't know how to lead.

He’s a boss not a leader. Fear and intimidation is a great way to keep churn high so people will give up their stock :p

Re: Revolut CFO resigns following money laundering controversy

#247

Post by cporios »

adrianmsmith wrote: post #181
cporios wrote: post #171

Earlier quoted context omitted.

I'm not the OP, but if you're interested in criticisms of Revolut, here's a complaint/rant letter (yes, physical letter) that I sent to them half a year ago: https://pastebin.com/L507bvf7

Great letter. How did that go, did they reply to your satisfaction?

They gave some justifications for my complaints and apologized. They let me cancel my Metal plan without deducting the cancellation fee, as per my request. They sent me a copy of all my data as I later requested, and deleted my account.

Re: Revolut CFO resigns following money laundering controversy

#248

Post by stareatgoats »

jacknews wrote: post #244
detaro wrote: post #190

Earlier quoted context omitted.

If I had to guess, parent is sarcastic.

He is the son of a senior Gazprom figure. Just saying.

Satire is a difficult thing, both on the internet and off. But especially on :-D . Still, I'm sure many people noted the irony in your original comment, and still didn't like it. Being Russian shouldn't really qualify for suspicion, on it's own.

Re: Revolut CFO resigns following money laundering controversy

#250

Post by jacknews »

stareatgoats wrote: post #248
jacknews wrote: post #244

Earlier quoted context omitted.

He is the son of a senior Gazprom figure. Just saying.

Satire is a difficult thing, both on the internet and off. But especially on :-D . Still, I'm sure many people noted the irony in your original comment, and still didn't like it. Being Russian shouldn't really qualify for suspicion, on it's own.

Indeed, I should have said "CEO who has connections to the Russian oligarchy". I have nothing against Russians as such.
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