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Revolut raises $500M at a $5.5B valuation

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Re: Revolut raises $500M at a $5.5B valuation

#71

Post by aeyes »

namdnay wrote: post #66
kasperni wrote: post #30

Earlier quoted context omitted.

-------------- She did a 30-minute job interview over Google Hangouts with the London-based head of business development, Andrius Biceika, and was immediately told she had passed to the next round, which would involve a small test. “The surprise came when I received the task and it asked me to get the company as many clients as possible, with each one depositing €10 into the app,” says Laura. The instructions on the…

To play devils advocate, it was a business development position... so it’s a bit like asking a developer to do a homework exercise no?

No, this is working for free.

In a developer test you are given a generic problem.

Re: Revolut raises $500M at a $5.5B valuation

#72

Post by bostik »

s_dev wrote: post #46
shawabawa3 wrote: post #40

Earlier quoted context omitted.

Randomly closing accounts with no explanation or recourse unfortunately seems to happen with basically every bank or payment provider these days Transferring your entire balance to an arbitrary account though....yikes

> Randomly closing accounts with no explanation or recourse unfortunately seems to happen with basically every bank or payment provider these days I suspect aggressive anti money laundering measures getting a few false positives to be the context.

Very likely true.

Fact: the regulations forbid telling the customer that they are being investigated for AML violations. Because absence of signal is itself a signal, the banks are highly incentivised to keep all kinds of communications and explanations to a minimum.

Re: Revolut raises $500M at a $5.5B valuation

#73

Post by oakesm9 »

namdnay wrote: post #66
kasperni wrote: post #30

Earlier quoted context omitted.

-------------- She did a 30-minute job interview over Google Hangouts with the London-based head of business development, Andrius Biceika, and was immediately told she had passed to the next round, which would involve a small test. “The surprise came when I received the task and it asked me to get the company as many clients as possible, with each one depositing €10 into the app,” says Laura. The instructions on the…

To play devils advocate, it was a business development position... so it’s a bit like asking a developer to do a homework exercise no?

Yes, but only if the developer's homework exercise was to take a feature and implement it to actually be released in the live app.

Re: Revolut raises $500M at a $5.5B valuation

#74

Post by ulfw »

sschueller wrote: post #4

Revolut is predatory and walking on the line of legality. I would stay as far away as I can from them. - Unfair/illegal employment practices. [1] - Dubios crypto service (you can buy and sell but there is no way to transfer in or out) [2] - Keeping a firewall between customers and company by only allowing communication via app chatbot [3] - Accusations of money laundry. [4] - Many people have had their accounts froze…

It's these kind of companies that get investor money these days. See Uber, see WeWork etc.

Sadly.

Re: Revolut raises $500M at a $5.5B valuation

#76

Post by Reason077 »

GeneralTspoon wrote: post #58
hkjlhoiuwer wrote: post #28

Earlier quoted context omitted.

They are very convenient though. And they have the best FX rates for those who care. I only keep a minimum amount on Revolut (<$200), and only top up as needed. This way I don't particularly care if my money gets lost.

Monzo/Starling/TransferWise all have as good an FX rate last time I checked.

It's worth pointing out that Monzo and Starling are bona fide banks with UK banking licenses, with the legal protections and deposit guarantees which that entails.

Revolut and TransferWise, like PayPal, are not.

Re: Revolut raises $500M at a $5.5B valuation

#78

Post by pepemon »

romasato wrote: post #19
ascari wrote: post #9

I refused to interview with them due to their poor employment practises. A quick search reveals what's going on.

Everyone keeps repeating and referencing the same old story about where a few of the unhappy employees were bashing the company about its startup culture. Some people are better suited to work at more established companies, not startups growing massively where one has to wear multiple hats and probably work more than the regular 9-5.

You have signed up on HN just to defend your employer, right? Please tell us about yourself.

Re: Revolut raises $500M at a $5.5B valuation

#79

Post by Angostura »

randunel wrote: post #35
fauria wrote: post #11

Earlier quoted context omitted.

Can you provide links or any other kind of source for these statements? Customers would be mostly concerned about the fifth one, probably: Many people have had their accounts frozen or even money stolen .

Revolut also block the accounts of members of a certain political party ("PSD") in Romania, "blocking" (stealing) their money, but only if customers admit to being a socialist party member. Here's a screenshot with the questions https://universul.net/wp-content/uploads/2019/10/revolut-psd... Transcripted from the Revolut app: Have you ever held any of the following positions? Select all that apply - Member - Speciali…

For context https://en.wikipedia.org/wiki/Social_Democratic_Party_(Roman...

Re: Revolut raises $500M at a $5.5B valuation

#80

Post by mytailorisrich »

balola wrote: post #47
jotm wrote: post #44

Earlier quoted context omitted.

To be fair, big banks like HSBC and Barclays also do this. Plenty of horror stories around. There needs to be a law so they could at least notify people a month or two beforehand and provide a reason...

I believe there is a law allowing them not to provide any reason.

Rather, there is no law that forces them to give a reason.

It's like any business relationship: One party may decide to terminate the relation as long as they respect the contract. They don't have to provide a reason (why would they?)

That said, usually contracts state a minimum notice period.

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