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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

#61

Post by mikl »

mcherm wrote: post #45
mikl wrote: post #11

News flash: No corporation cares about you. Some might look good, but that is not because they care about you . It's because doing good things make their customers and employees happy, and thus keeps the money flowing.

Look, if your response to encountering terrible customer service is to declare that everyone has terrible customer service then you were likely to continue to receive terrible customer service. If, instead, your response to receiving terrible customer service where to say "this company is awful!", and take your business to someone else with better customer service then perhaps the companies with better service will t…

I'm just addressing the headline. Saying "BigCorp doesn't care about you" is tautological.

That aside, pointing out evil deeds of corporations and punishing them by taking our business elsewhere is exactly the solution I'm recommending.

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

#62

Post by JumpCrisscross »

C1sc0cat wrote: post #53
krn wrote: post #46

Earlier quoted context omitted.

The CFO resigned only after the documents passed to The Telegraph by a whistleblower showed that for three months in 2018 Revolut switched off an automated system designed to stop dubious money transfers[1]. [1] https://www.telegraph.co.uk/technology/2019/02/28/revolut-fa...

I saw that but it wasn't clear as far as I remember who did this - it may be the CFO took responsibility for some one else's actions.

> it may be the CFO took responsibility for some one else's actions

CFOs of financial services companies are typically senior AML officers. All AML actions are their actions, and AML liability for AML officers is almost strict liability. If something happens and if best practice wasn’t followed, the AML officer(s) are personally and criminally liable.

If someone could turn off the entire AML scanning system with the CFO’s prior knowledge, sign-off, and ex post facto notification, that’s a deficient AML policy.

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

#64

Post by luckylion »

pteraspidomorph wrote: post #24
StavrosK wrote: post #3

Earlier quoted context omitted.

PayPal almost always sides with the consumer, at least. Revolut's treatment was inexcusable. I've been a customer for three years and use them every day, I did not expect to be treated like this in a million years. This would also never have happened if the message said anything more than "you've reached the limit". Even the mention of amount would have made me immediately suspicious. As it happened, I just didn't th…

"They can’t even give a list of all my data under the GDPR so I can see myself, which seems illegal." You're in Greece? Under the GDPR they're legally required to give you all the data they have on you; this is non-negotiable. I hope you included that in your complaint. As for the rest, I guess they're just garbage and I'm glad to know I don't ever want to be using their services. Maybe someone from Revolut will chim…

> Under the GDPR they're legally required to give you all the data they have on you; this is non-negotiable.

To play devil's advocate: they might argue that the fraudulent transaction contains/might contain PII of the fraudster and they are protecting his privacy. Sounds crazy, but I wouldn't be that surprised.

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

#65

Post by anilakar »

I was under the impression that banks were required to know their customers, which at least until this point has basically required you to visit a physical office with a passport and answer the standard anti-laundering questionnaire. This pretty much has meant that these online-only banks have been illegal to operate. Apparently the "FinTech" boom has resulted in a new low...

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

#66

Post by StavrosK »

literallycancer wrote: post #59

Take the bank to small claims: https://europa.eu/youreurope/citizens/consumers/consumers-di... https://europa.eu/youreurope/business/dealing-with-customers...

This is great, thanks, I plan to. I was going to file with the UK small claims court because I didn't know which jurisdiction, but this is perfect, thank you.

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

#67

Post by tshanmu »

glogla wrote: post #57
Peroni wrote: post #50

Earlier quoted context omitted.

Considering both senior politicians in Lithuania and Luxembourg have raised formal concerns about Revolut's bid for a bank licence, specifically because of the CEO's alleged Kremlin ties, I'm willing to assume there's some substance to that concern.

Them not having the license also means that the deposits aren't insured the way they normally are in EU, meaning you get nothing if things go wrong. We use Revolut around the office to split bills for lunches, etc, but I wouldn't keep more than few bucks in there.

edit: They have a banking license but current account customers now still get an e-money account only - quite confusing state. With an e-money account, the client money is supposed to be in a separate account and if they go under, you still get your money. (FCA regulates all this)

They have a banking license from Lithuania (but customers are not switched to it) which might be revoked by Lithuania and they are trying for another license in Ireland.

Thanks to comment below - edited this make more sense.

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

#68

Post by dgellow »

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.…

> The company quite literally has the words "get sh*t done" in giant neon letters on their office wall.

That has become one of my red flag. I want to deal with people and companies focused on the quality of their products and businesses, not on doing "shit" (taking their motto literally).

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

#69

Post by peteri »

s_dev wrote: post #55

I'm with N26 -- tried signing up with Revolut as I heard they had some cool features I didn't have with N26 e.g virtualized cards and crypto currency support. Signed up with my Passport and transferred €50 to the newly created Revolut account. I wait a week still no money in the Revolut account -- contact support. They explain I'm not registered and that I have to register first -- I'm at a loss as they could issue m…

FACTA might be the answer.

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

#70

Post by xorcist »

ForHackernews wrote: post #47

> You can never rely on banks to give you your money back, since they want their fraud statistics to remain low, even if that means refusing you your money. Isn't Revolut explicitly not a bank? I thought it was some kind of non-bank pseudo-gift card FinTech thing? I've never had any problems disputing transactions with my normal regular boring bank that doesn't have an app.

They seem to be, as per last December:

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

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