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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

#111

Post by StavrosK »

JumpCrisscross wrote: post #96
StavrosK wrote: post #91

Earlier quoted context omitted.

I already filed a complaint with them, but apparently Revolut can just refuse to reply and that's that. They also told me as much, they said I have to file a formal complaint with them first. They said something like "we will refuse to process any other complaint until the formal complaint process is complete", but since they're judge, jury and executioner on this, I don't have much faith.

> since they're judge, jury and executioner on this They’re not. It sounds like Revolut is regulated in Lithuania; complain to them [1]. I’d also light up your own country’s national financial regulator. (If you can find nexus with the U.K., they’re a good one to get involved [2], too.) [1] https://www.lb.lt/en/sfi-disputes-between-consumers-and-fina... [2] http://www.financial-ombudsman.org.uk/

This is great information, I will, thank you!

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

#112

Post by StavrosK »

chx wrote: post #89

There is a simple yardstick that made me stay far, far away from Revolut: they deal with bitcoin. I will never trust a single cent of my money on such a company. So far the conduct of Bitcoin exchanges didn't impart the impression of responsible companies. Oftentimes you have downright conmen running them. This is not to say Revolut is cooking the books but touching bitcoin by a fiscal company carries a stench, one t…

They don't actually deal with cryptocurrencies (like, you can't buy BTC with them). They just added tickers and let you gamble with the price.

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

#113

Post by Aeolun »

michalu wrote: post #99
glogla wrote: post #39

Earlier quoted context omitted.

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.

> it got it's money from DST Global So does Facebook, DoorDash, FlipKart and hundred+ other Silicon Valley companies. Revolut also has money from Seedcamp, Balderton, Index and tons of other VCs. > Revolut is Russian owned and Russian managed pseudo-bank Since when being a Russian is a crime? Besides if a company is London based it is regulated by UK authorities. You make it sound like the guy being Russian, DST bein…

I don’t think the problem is that it has ties to a political entity.

The problem is that that entity is a de-facto dictatorship that is well known for being corrupt.

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

#115

Post by StavrosK »

luckylion wrote: post #64
pteraspidomorph wrote: post #24

Earlier quoted context omitted.

"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.

They refused to give me my information too, though. I wanted all the data they had on my transactions so I could analyze my card usage.

All the fraudulent transaction has is amount/merchant/date and card, it doesn't have any of the fraudster's info on it.

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

#116

Post by StavrosK »

JumpCrisscross wrote: post #31
StavrosK wrote: post #18

Earlier quoted context omitted.

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.

Good idea, we have some HSBC, etc branches, I will try one of those. Thank you.

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

#117

Post by raverbashing »

greatpatton wrote: post #83
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…

Because Revolut dones't want to have to manage FACTA and other US extraterritorial laws. Here is Switzerland having a US passport is a good reason to be banished from your physical bank very quickly. US passport holders are seen as a liability and not as a customer. That's also one of the reason that make renouncement of US citizenship quite popular in Switzerland if you have dual citizenship.

This. This is the right answer

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

#119

Post by JumpCrisscross »

michalu wrote: post #99
glogla wrote: post #39

Earlier quoted context omitted.

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.

> it got it's money from DST Global So does Facebook, DoorDash, FlipKart and hundred+ other Silicon Valley companies. Revolut also has money from Seedcamp, Balderton, Index and tons of other VCs. > Revolut is Russian owned and Russian managed pseudo-bank Since when being a Russian is a crime? Besides if a company is London based it is regulated by UK authorities. You make it sound like the guy being Russian, DST bein…

> I would like to hear more on the reasoning behind how all that is negative?

There is outsized demand for money laundering from Russia, in large part owing to its endemic and unchecked corruption. This is why most recent European money laundering scandals have involved Russian money [1][2][3].

So when you see an AML deficient operation with multiple Russian ties based out of Lithuania, it raises legitimate questions.

[1] https://www.reuters.com/article/uk-danske-bank-eu-regulator/...

[2] https://www.cnbc.com/2019/04/18/deutsche-bank-shares-slip-am...

[3] https://www.insurancejournal.com/news/international/2019/03/...

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

#120

Post by ttoinou »

greatpatton wrote: post #83
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…

Because Revolut dones't want to have to manage FACTA and other US extraterritorial laws. Here is Switzerland having a US passport is a good reason to be banished from your physical bank very quickly. US passport holders are seen as a liability and not as a customer. That's also one of the reason that make renouncement of US citizenship quite popular in Switzerland if you have dual citizenship.

I've been told it's not just being US citizen but also, for example, being US tax resident for the current year
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