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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

#151

Post by johnnycab »

StavrosK wrote: post #91
tshanmu wrote: post #20

Under PSD2 this is illegal - sadly the implementation date is in Sep 2019. Appalling treatment and Revoult has been getting some bad press recently - you should complain to Financial Ombudsman - https://financial-ombudsman.org.uk (assuming you are dealing with Revolut UK, and they have not switched to Revolut Payments UAB for EU customers)

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.

>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.

Revolut can't refuse to reply. They are literally advising you on the first step to file your complaint in this procedure, as prescribed by the Financial Ombudsman Service. It is there to exhaust your query, in order to either resolve the matter amicably or to arrive at some satisfactory conclusion and more importantly it exists to filter out any frivolous claims.

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

#152

Post by JumpCrisscross »

treis wrote: post #150
JumpCrisscross wrote: post #149

Earlier quoted context omitted.

Google financial regulator. In New York, we have the DFS [1], for example. Note that the rules are less strict for returns than for fraud. You’ll want to include proof of shipping the return, but the merchant and network have some discretion. (VISA is more consumer-friendly than MasterCard with return chargebacks; AmEx is the best.) [1] https://www.dfs.ny.gov/

>The Department does not regulate national banks (examples: Bank of America, Wells Fargo, Chase, Citibank, PNC) or federal credit unions, whether operating in Georgia or elsewhere. https://dbf.georgia.gov/consumer-resources

It doesn't regulate, but depending on the state they'll often mediate. (New York has mediated disputes between national banks and me, for instance.) Otherwise, the OCC [1] is worth a try.

[1] https://www.occ.gov/topics/consumer-protection/index-consume...

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

#153

Post by therealmarv »

johnnycab wrote: post #123
stavros wrote: post #10

Earlier quoted context omitted.

It's even more insane because I set the limit to 200ish, so bill payments routinely give me that error message, so I didn't really think anything of it. Also, apparently the declined transaction shows up, but it takes a while. It didn't show up on my list even though I got the notification, so I thought it just doesn't show and I went to the limits to raise them.

It didn’t even mention which card this transaction was on, just no trace. Thinking it was a recurring bill payment that’s getting declined, I started looking into my cards, disabling and re-enabling limits. I am guessing that you are the author of this blog post. For a long term user, you seem to have made a lot of assumptions and mistakes. You also seem to have a few cards on your account. I can't tell if you froze…

Revolut community is censored. You cannot post everything there, probably this story will be never visible there.

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

#154

Post by StavrosK »

johnnycab wrote: post #151
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.

>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. Revolut can't refuse to reply. They are literally advising you on the first step to file your complaint in this procedure, as prescribed by the Financial Ombudsman Service. It is there to exhaust your query, in order to either resolve the matter amicably or to arrive at some satis…

The Ombudsman's site says:

> Your complaint has been sent to the trader. They can either suggest one or more dispute resolution bodies to work on the complaint or they can decide not to proceed with an out-of-court settlement of your complaint.

> You do not need to do anything more at this stage.

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

#155

Post by packetpirate »

Why the hell would you even use a "virtual" card? With the rate at which personal data is being stolen day after day and companies as large as Equifax being breached, why would you trust your money with an all-virtual bank? Especially one that is so new? It's just asking for trouble. I've had the same bank since I was 17 and they have literally never let me down, and the couple of times I had a fraudulent transaction occur, they automatically flagged it and called me to ask if it was legitimate.

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

#156

Post by johnnycab »

Dayshine wrote: post #148
johnnycab wrote: post #123

Earlier quoted context omitted.

It didn’t even mention which card this transaction was on, just no trace. Thinking it was a recurring bill payment that’s getting declined, I started looking into my cards, disabling and re-enabling limits. I am guessing that you are the author of this blog post. For a long term user, you seem to have made a lot of assumptions and mistakes. You also seem to have a few cards on your account. I can't tell if you froze…

>Revolut is a pre-paid card. You can't expect expect the same level of protection or consumer rights, which are provided by a Credit Card or a bank registered in your jurisdiction. Er, are you sure? In the UK marketing: https://www.revolut.com/a-radically-better-account it is described as "Free UK current account". That's the name of a full, normal, bank account. I would expect it to have the full consumer protection…

>I would expect it to have the full consumer protection, FSCS, etc. If it doesn't, they're committing some pretty massive advertising fraud...

You can expect all you like, but there is no UK FSCS protection. They have frequently ran into trouble with their advertising campaigns!

https://www.pymnts.com/news/payment-methods/2019/revolut-ad-...

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

#160

Post by AlexandrB »

packetpirate wrote: post #155

Why the hell would you even use a "virtual" card? With the rate at which personal data is being stolen day after day and companies as large as Equifax being breached, why would you trust your money with an all-virtual bank? Especially one that is so new? It's just asking for trouble. I've had the same bank since I was 17 and they have literally never let me down, and the couple of times I had a fraudulent transaction…

Bitcoin and some of the financial startups seem like efforts at educating the public about why regulation exists.
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