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

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

#351

Post by dx034 »

Aissen wrote: post #142
JumpCrisscross wrote: post #23

Earlier quoted context omitted.

> you authorized the fraudulent transaction I don’t know European banking law. But in the U.S., this isn’t Revolut’s call to make [1]. They can issue the chargeback and then cancel your account, if they think you’re being screwy. But they can’t deny the chargeback unilaterally. OP should reach out to their national financial services regulator. [1] https://www.federalreserve.gov/boarddocs/supmanual/cch/efta.... Liabi…

Unfortunately chargebacks aren't as simple in the EU, in addition to country-specific rules that make them hard to use in some countries.

They generally are for credit cards. Debit cards often have less protection but for credit cards, Visa and Mastercard will allow chargebacks similarly to the US.

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

#352

Post by repolfx »

PhasmaFelis wrote: post #305
repolfx wrote: post #255

Earlier quoted context omitted.

They are a lot more secure. Magstripe fraud is rampant, an accepted fact of life. Breaches of chip cards are extremely rare and not a fact of life. Or can you back up this insinuation that smartcard chips that digitally sign transactions are no more secure than magstripes anyone can duplicate?

No one claimed they're as bad as magstripes, only that they are not 100% perfectly secure.

But if chip cards are much, much more secure than before and chip breaches are negligable (which they are), then why is the default presumption of fraud being the user's fault unfair? Users can and do write their PINs down, give them to other people and engage in other unsafe practices. That's by far the most common way chip cards are breached: social engineering.

I think there's a limit to how much liability system vendors should be expected to take. Insisting on all-corporate liability all the time, even for cases that are basically unsolvable like users deliberately giving away credentials, just socialises the cost of careless behaviour on all card users. Why bother upgrading security at all, in that case?

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

#353

Post by alistairSH »

gertrunde wrote: post #272
alistairSH wrote: post #201

Earlier quoted context omitted.

Venmo seems to be the standard here in the US. Is it not as common overseas?

I tend to find that Venmo is a bit redundant in the UK - feature-wise, I'm not sure that it does anything that the standard bank mobile apps can't do? (There's a standard person-to-person via mobile number payments system that most banks support & integrate into their apps ( https://en.wikipedia.org/wiki/Paym) ).

That's nice. I wish US banks would do something like that, so we don't have to rely on 3rd party apps. But, they couldn't even roll out chip & PIN properly.

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

#354

Post by Celexior »

skrause wrote: post #274
s_dev wrote: post #177

Earlier quoted context omitted.

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.

N26 is also known to not help you when you're a fraud victim ( https://heise.de/-4355970 ). And they're currently on a watchlist because they usually fail to prevent money laundering ( https://heise.de/-4429143 ).

I was victim of a fraud (a shop factured me twice, then they refused the pay me back the money) while paying with N26. They helped me to get my money back, so from my point of view they help fraud victims.

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

#356

Post by superhuzza »

p1anecrazy wrote: post #345
anthonybsd wrote: post #286

Earlier quoted context omitted.

>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's CEO[1] is the son of the top bureaucrat of Russian Gazprom, which has been implicated as the main channel of - you guessed it[2], money laundering for Russian oligarchs [3]. [1] https://en.wikipedia.org/wiki/Nikolay_Storonsky [2] https://panamapape…

As a Russian, I would like to point out that both degrees he has got (Moscow Institute of Physics and Technology and New Economic School) are from top-tier institutions. Money can't buy them and in general they are not attractive for rich kids. Also, Gazprom Promgaz != Gazprom. It's "a research institute for Gazprom" [1]. [1] https://en.wikipedia.org/wiki/Gazprom_Promgaz

It's always a possibility to "buy a degree" when enough money is involved. Look at what happened with the London School of Economics, which is a top 10 university worldwide.

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

#357

Post by rsync »

Waterluvian wrote: post #306
dgellow wrote: post #68

Earlier quoted context omitted.

> 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).

"measure twice, cut once" in big cedar letters on the wall of my next business.

"Safety Third"

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

#358

Post by LorenPechtel »

kweks wrote: post #296
eloisant wrote: post #195

Earlier quoted context omitted.

In France any transaction involving you PIN code is really hard to contest (so if you get your card copied by a skimmer it's tough). Same with online transactions using 3-D secure (2-factor, usually involving a confirmation code sent by SMS). For other online transactions however, you just have to ask your bank and they're chargeback the merchant.

Depends on the bank. I had HSBC in France repeatedly deny that they could not and would not perform a charge back forna specific online transaction without a police report. I ended calling VISA, who conference called my bank branch, explained that they were legally required to perform the charge back. The bank capitulated on the phone, the VISA guy hung up, and the bank said: VISA's opinion aside, we refuse to perfor…

And what happened when you called VISA again and told them that the bank went back on agreeing to the chargeback?

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

#359

Post by LorenPechtel »

treis wrote: post #122
JumpCrisscross wrote: post #96

Earlier quoted context omitted.

> 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/

I had Chase screw up a similarly obvious dispute. Long story short, Newegg send me a defective monitor, they claimed it was damaged on return, and then dithered on the refund. After I filed a dispute Newegg sent the defective and now broken monitor back to me. They then responded to the dispute saying I never returned the item and gave the tracking as proof. Chase inexplicably (how could they send back the item if I…

I've never dealt with the CFPB. However, three times I have complained to regulators about companies misbehaving. It appears that every time the regulators did little beyond forwarding the complaint, but in every case it resulted in the company promptly behaving itself.

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

#360

Post by LorenPechtel »

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 our government decided to play 1000 pound gorilla about our citizens hiding money in foreign countries.

Never mind that the big fish they are really after wouldn't have it in their own name and thus are basically unaffected. It's a lot easier for companies to simply say no US customers than have our idiots in Washington after them.

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