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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

#171

Post by Double_a_92 »

StavrosK wrote: post #87
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…

N26 have been pretty solid for me and they have a number I can call if I need something. N26 is where I keep my money and Revolut is what I use for day-to-day stuff, but I still had enough money that the fraudster managed to steal 1k :/ I have switched to N26 now.

From one evil to the other then? I would definitely not keep my life savings in some virtual "start-up" bank.

Get a serious one and automatically transfer some money onto your fancy cards every month, if you like their service for everyday payments.

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

#172

Post by stavros »

Double_a_92 wrote: post #169
StavrosK wrote: post #14

Earlier quoted context omitted.

In my case, it was because it's a thing that happens frequently. I set limits low and I routinely get transactions failing, so I raise/remove the limit and they retry. It generally happens when recurring bill payments come through, so I didn't really think much of it, I did what I do when a transaction fails. If I had seen the amount, I definitely wouldn't have done anything like that.

> I set limits low and I routinely get transactions failing, so I raise/remove the limit and they retry. What's the point of a limit, if you automatically remove it whenever something is over the limit?

It didn't start out like that, but yep, it just trained me to override it. The rationale was that I could first see the transactions that fail, but the UI doesn't encourage that.

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

#173

Post by StavrosK »

Double_a_92 wrote: post #171
StavrosK wrote: post #87

Earlier quoted context omitted.

N26 have been pretty solid for me and they have a number I can call if I need something. N26 is where I keep my money and Revolut is what I use for day-to-day stuff, but I still had enough money that the fraudster managed to steal 1k :/ I have switched to N26 now.

From one evil to the other then? I would definitely not keep my life savings in some virtual "start-up" bank. Get a serious one and automatically transfer some money onto your fancy cards every month, if you like their service for everyday payments.

Looks like it :/ I don't store my life savings there, certainly, I just had "more" money in N26. You're right, though, I should transfer just as much as I need to them.

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

#174

Post by patrickmcnamara »

Double_a_92 wrote: post #171
StavrosK wrote: post #87

Earlier quoted context omitted.

N26 have been pretty solid for me and they have a number I can call if I need something. N26 is where I keep my money and Revolut is what I use for day-to-day stuff, but I still had enough money that the fraudster managed to steal 1k :/ I have switched to N26 now.

From one evil to the other then? I would definitely not keep my life savings in some virtual "start-up" bank. Get a serious one and automatically transfer some money onto your fancy cards every month, if you like their service for everyday payments.

N26 is an actual bank that offers actual current accounts, unlike Revolut.

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

#175

Post by greatpatton »

ipython wrote: post #88

I find it weird they accused you of lying, considering every time I purchase airline tickets the bank receives the full ticket information including the PNR (name information and ticket number) for the issued ticket. For fraudsters wouldn’t that be a huge risk ordering tickets in your own name? Or is there another dimension I’m missing here?

The 2 times I had fraud issue with my credit card it was people buying plane ticket. One time it was on Easyjet for a ticket a few hours later and it was clear that the name was completely made up (strangely it appeared on my credit card statement).

It seems that travel/air ticket are a major source of fraud.

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

#176

Post by chosenbreed37 »

gil wrote: post #170
JumpCrisscross wrote: post #92

Earlier quoted context omitted.

Gazprom ties, AML system randomly going offline, regulated by Lithuania...this looks more like a money-laundering scheme than a bank.

Why does being regulated by Lithuania make it look it like a money-laundering scheme?

Good point. I believe there are EU directives in place which mandate that if an institution is authorised in one member state it can operate in any other state

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

#177

Post by s_dev »

Double_a_92 wrote: post #171
StavrosK wrote: post #87

Earlier quoted context omitted.

N26 have been pretty solid for me and they have a number I can call if I need something. N26 is where I keep my money and Revolut is what I use for day-to-day stuff, but I still had enough money that the fraudster managed to steal 1k :/ I have switched to N26 now.

From one evil to the other then? I would definitely not keep my life savings in some virtual "start-up" bank. Get a serious one and automatically transfer some money onto your fancy cards every month, if you like their service for everyday payments.

The reason I went with N26 is because they're German -- the German government will guarantee all savings up to €100k -- this is not the case with the others hence why Revoluts "EU banking licence" doesn't offer as much consumer protection as simply being a German bank. It just means they get more access to EU markets by abiding by certain terms.

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

#178

Post by noisy_boy »

Maybe I'm just old but I would never put my money in an institution where I can't go to their branch/office and talk to a human. Typically this is hardly needed with all the digital convenience but when things go wrong, it is truly worth it.

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

#179

Post by chosenbreed37 »

stavros wrote: post #10
Dayshine wrote: post #5

It feels like the "unique" part that makes this something novel about this is that they claim you authorized fraud when you raised your limit, accidentally letting a transaction you couldn't see through. So the scenario is roughly (numbers made up): 1. You set a £500 monthly card limit 2. Your card is stolen and somebody charges £1000 3. You get a notification saying you have hit your limit 4. The failed, fraudulent,…

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.

Out of interest don't you get any penalties for all those declined/failed payments?

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

#180

Post by spurgu »

I had a similar issue around two years ago (multiple travel transactions, some Indian), although it was one of my physical cards (which I had barely used anywhere). I didn't have enough funds at the time so nothing was charged and I immediately reported the card stolen. After this I've tried to keep my balance below €300 with the rest in vaults to minimize the risk - whenever I need to make a larger transaction I just withdraw money from the vaults before.
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