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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

#231

Post by briandear »

noir_lord wrote: post #97
_petronius wrote: post #43

This is why I will always bank with the old-school banks. Being able to reach someone on the phone -- or even turn up at a branch -- makes it a lot harder for them to ignore you when there is a major issue that needs resolving. But then, my "traditional" bank has a very good app, and treats me extremely nicely, even when I've had all of a few euros (or less than zero euros) in my account.

Even the old school banks have their issues, HSBC and money laundering for cartels comes to mind. Money is power and power corrupts seems to apply too often with this stuff.

HSBC laundering money doesn’t affect my current accounts. Not saying that issue isn’t important, but that doesn’t hurt my personal access to funds.

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

#232

Post by meestaahjoshee »

dgellow wrote: post #68
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).

the first startup i worked at had a 'get shit done' poster on one of the walls. I think it was more of a fellowkids thing, meant to be half serious/funny and looked more like cargo-culting a startupy phrase.

it was a great place to work - engineering was pretty lax, most of us were there only from 10-4.

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

#233

Post by codedokode »

krn wrote: post #46
C1sc0cat wrote: post #29

Earlier quoted context omitted.

Maybe there was an argument and the CFO was against turning off the money laundering and lost out and left over that.

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...

Maybe that system was low quality and blocked valid transactions?

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

#234

Post by chx »

StavrosK wrote: post #229
chx wrote: post #227

Earlier quoted context omitted.

Huh? https://www.revolut.com/exchange-cryptocurrency "Instantly exchange any of our 29 currencies directly into Bitcoin, Litecoin, Ethereum, Bitcoin Cash and XRP, and all without breaking a sweat."

Yeah, they don't let you withdraw or deposit any. You have to convert it back to fiat to withdraw.

Interesting service. https://www.revolut.com/help/exploring-revolut/exchanging-cr...

> You will not be able to transfer cryptocurrency interests to outside of the Revolut platform, eg. external wallets.

And https://www.revolut.com/en-DE/help/exploring-revolut/exchang...

> You can receive cryptocurrency interests sent by another Revolut user. However, you will not be able to receive cryptocurrencies sent from outside of the Revolut platform, eg. external wallets

Nonetheless, they must be buying and holding crypto"currency" which is enough for me to disqualify. It's better than going full exchange but still.

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

#235

Post by codedokode »

It is very dangerous to use banking apps or sites from Android phone. Please Google how many "root" exploits are around. Any application or website can attack your phone, and if it succeeds then your money are gone. You should use a phone only as a second factor for authentication.

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

#236

Post by codedokode »

nerder92 wrote: post #105

From the way in which the CEO of this company treats he's own employees you can imagine how he will treat he's clients. This company is just toxic, there are other better options that solves the same problem, N26, Monzo etc check them out

No sources, no links, nice comment. Aren't you working for a competitor?

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

#237

Post by sagebird »

stavros wrote: post #200

UPDATE: Revolut have emailed me in response to my official complaint (possibly after seeing my post gain attention, I can't say for sure). They admitted it was a mistake to decline my chargeback and have refunded me the purchase. They also said they would take measures to avoid this from happening again, hopefully they make good on that promise. Thank you all very much for your help and support, I hope this doesn't h…

It's disgusting that you had to raise a shitstorm on their internal support, then on twitter and then hacker news to get your chargeback.

Will others be savvy enough to raise this attention? I would rather that a regulator went to bat for you and slapped them with a large fine. Because as it stands they can do the same thing to everyone else, only give refunds when someone raises attention and perhaps this only accounts for 1% of the cases.

They are going to take measures to swat stories down quicker before they create bad press, but there is likely a good reason for their behavior so expect no uniform change.

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

#238

Post by StavrosK »

chx wrote: post #234
StavrosK wrote: post #229

Earlier quoted context omitted.

Yeah, they don't let you withdraw or deposit any. You have to convert it back to fiat to withdraw.

Interesting service. https://www.revolut.com/help/exploring-revolut/exchanging-cr... > You will not be able to transfer cryptocurrency interests to outside of the Revolut platform, eg. external wallets. And https://www.revolut.com/en-DE/help/exploring-revolut/exchang... > You can receive cryptocurrency interests sent by another Revolut user. However, you will not be able to receive cryptocurrencies sent from outside…

> Nonetheless, they must be buying and holding crypto"currency" which is enough for me to disqualify. It's better than going full exchange but still.

They don't need to, really. They just need to pay you if the price goes up. You're selling them fiat for the promise that they'll buy it back at some point for the new price.

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

#239

Post by codedokode »

thefounder wrote: post #40

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.

I hope they will be replaced by cryptocurrencies without passports, sudden account blocking and other stupid bureacracy.

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

#240

Post by toomuchtodo »

stavros wrote: post #200

UPDATE: Revolut have emailed me in response to my official complaint (possibly after seeing my post gain attention, I can't say for sure). They admitted it was a mistake to decline my chargeback and have refunded me the purchase. They also said they would take measures to avoid this from happening again, hopefully they make good on that promise. Thank you all very much for your help and support, I hope this doesn't h…

It of course will happen to others, who will have no recourse when they don’t have the same platform to seek redress. It’s your own fault as a Revolut customer if you continue to use them for holding your funds after being made aware of their behavior. Use a real bank!
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