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I just had over a thousand Euros stolen and Revolut is siding with the thief

stavros.io

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Re: I just had over a thousand Euros stolen and Revolut is siding with the thief

#31

Post by JumpCrisscross »

StavrosK wrote: post #18
Daniel_sk wrote: post #13

Get an account with a reputable bank. In my bank I have a personal banker that I can contact (phone, email, message) in case I need anything (you will get this privilege after a certain amount of income per month, but it's easily reached if you work in IT). I was even able to get money back after I paid for something that I never received (simple debit card). And also many people forget that you may need a larger mor…

Unfortunately, banks in Greece aren't in good shape or very convenient. I also just didn't think this could ever happen.

> banks in Greece aren't in good shape or very convenient

You can probably find a reputable bank with a nearby branch. Even an online-only relationship with a reputable bank, regulated by a reputable national authority (e.g. the U.K., Switzerland or France), would be a good idea.

Re: I just had over a thousand Euros stolen and Revolut is siding with the thief

#32

Post by sschueller »

AdrianB1 wrote: post #15

Before I signed up for Revolut I did a bit of research and found some incidents that made me more cautious than usual. Unfortunately at the end of my analysis I found no better option, so I signed up. But knowing what I do, I have 2 rules: - don't keep a significant sum there; not more than what I can afford to loose if things go wrong - keep unused features disabled at all times, activate and deactivate features or…

I had good luck with tranferwise.

Re: I just had over a thousand Euros stolen and Revolut is siding with the thief

#33

Post by PedroBatista »

Revolut will "win" because of that.

It's well known the working conditions at Revolut are appalling and a complete meat grinder. Top execs have a gangster attitude and have no problem backstabbing their way to the top.

The financial/banking sector is a fertile ground for them, so they will not fail.

Re: I just had over a thousand Euros stolen and Revolut is siding with the thief

#34

Post by StavrosK »

ajdlinux wrote: post #6

FWIW - having to wait for pending transactions to post before filing a chargeback is how traditional banks have treated me, and I'm guessing is probably just part of the Visa/Mastercard dispute resolution process (someone who knows better might correct me here). Though you'd think a next-gen mobile-only bank would be able to put some additional automation around the process so that they would contact you again on the…

> having to wait for pending transactions to post before filing a chargeback is how traditional banks have treated me

Yeah, I guess they have a reason for doing that, though I don't know what it is. Still, I would have thought they can cancel it in cases of fraud? Maybe it's so you can't "dine and dash" or similar.

Re: I just had over a thousand Euros stolen and Revolut is siding with the thief

#35

Post by StavrosK »

ForHackernews wrote: post #21
yaseer wrote: post #12

Thanks for posting this. I haven't yet got on the 'challenger bank bandwagon' mainly due to laziness. This has made me a lot more hesitant to do so. Certainly not with revolut, who are now notorious for a broken growth-first mindset.

I've been using Transferwise for a while now, and at least on the face of it, they seem quite boring and sensible. They're the first non-bank that's been granted direct access to the UK's faster payments network.

Do TransferWise let you keep money with them and give you a card? I thought they were just a transfers company.

Re: I just had over a thousand Euros stolen and Revolut is siding with the thief

#36

Post by Daniel_sk »

StavrosK wrote: post #18
Daniel_sk wrote: post #13

Get an account with a reputable bank. In my bank I have a personal banker that I can contact (phone, email, message) in case I need anything (you will get this privilege after a certain amount of income per month, but it's easily reached if you work in IT). I was even able to get money back after I paid for something that I never received (simple debit card). And also many people forget that you may need a larger mor…

Unfortunately, banks in Greece aren't in good shape or very convenient. I also just didn't think this could ever happen.

That's a shame. I am very pleased with Tatrabanka in Slovakia. They have a lot of local branches but you never need to go there, all can be handled through mobile app, internet banking or through phone (they use voice fingerprinting).

Re: I just had over a thousand Euros stolen and Revolut is siding with the thief

#37

Post by huffmsa »

A partially related (Identity theft) write up for the US system.

Tl;dr send physical mail to their legal and compliance people, send copies to the regulating government institutions. Paper paper paper.

https://www.kalzumeus.com/2017/09/09/identity-theft-credit-r...

Re: I just had over a thousand Euros stolen and Revolut is siding with the thief

#38

Post by JumpCrisscross »

thomersch_ wrote: post #4

"How hard must being a bank be, it's just a few numbers in a database." After all those new-ish, app-based banks are for people with too much time on their hands. You mostly can't talk to anyone, and when they answer it's just a copy-paste from their FAQ. They also lack features, e.g. Kontist doesn't support international bank transfers. Support will tell you "well it could work, but we can't give you any assistance"…

> You mostly can't talk to anyone

No phone number should be a dealbreaker for banking. 99% of the time, you don’t want to talk to a banker. But that 1% of the time can make or break you for months or years.

These start-ups (e.g. Bank Simple, Revolut, et cetera) prey on consumers who have only experienced the 99%. You don’t want to have a 1% event, like fraud, or an issue overseas, or a liquidity crisis, with a service you can’t talk to. (It’s also bad enough when it’s your first time with an issue. You don’t want to be banking with someone who’s (a) never solved that problem before either and (b) not available to talk to.)

Re: I just had over a thousand Euros stolen and Revolut is siding with the thief

#39

Post by glogla »

Peroni wrote: post #7

Revolut's CFO recently 'resigned' from the company in light of claims that Revolut switched off an anti-money laundering system that flags suspect transactions. Revolut cited 'personal and health reasons' for the CFO's resignation. Whatever those personal and health reasons really were, they clearly passed quite quickly as within the space of a few weeks, said CFO has joined another FinTech company as their new CFO.…

Also Revolut CEO's father is CEO of Gazprom (or some division, I'm not sure I understand their structure). And it got it's money from DST Global incubator, which has Kremlin ties.

Meaning, despite their London HQ, Revolut is Russian owned and Russian managed pseudo-bank.

Giving them more money might not be great idea.

Re: I just had over a thousand Euros stolen and Revolut is siding with the thief

#40

Post by thefounder »

Credit/debit cards are outdated and should be replaced by flexible and safer methods that allow fine-grained control over the payment (i.e one time payment, recurring, limits on recurring etc).

Everyone with your card number can take money from your account. How stupid is that? Like giving the user/pass of your online banking.

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