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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

#121

Post by Barrin92 »

michalu wrote: post #99
glogla wrote: post #39

Earlier quoted context omitted.

Also Revolut CEO's father is CEO of Gazprom (or some division, I'm not sure I understand their structure). And it got it's money from DST Global incubator, which has Kremlin ties. Meaning, despite their London HQ, Revolut is Russian owned and Russian managed pseudo-bank. Giving them more money might not be great idea.

> it got it's money from DST Global So does Facebook, DoorDash, FlipKart and hundred+ other Silicon Valley companies. Revolut also has money from Seedcamp, Balderton, Index and tons of other VCs. > Revolut is Russian owned and Russian managed pseudo-bank Since when being a Russian is a crime? Besides if a company is London based it is regulated by UK authorities. You make it sound like the guy being Russian, DST bein…

financial services company accused of money laundering with ties to russian oligarchs in London is a little bit different from minority stake in a large american corporation, or even the American government, which at least as of today is still a liberal democracy.

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

#122

Post by treis »

JumpCrisscross wrote: post #96
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.

> 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 never returned it?) sided with them.

All the CFPB did for me was forward my complaint to Chase who (politely) told me to go fuck myself.

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

#123

Post by johnnycab »

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.

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 ALL of your cards, either immediately upon discovering the fraudulent event or before raising/disabling limits and then 'deal' with the rogue virtual card afterwards.

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.

Regardless, you should post this in the Revolut community for more visibility and probably get an actual resolution, before jumping on the GDPR angle ─ which will fail to provide with you enough details, as most financial institutions will redact any information on fraudulent transactions ─ stating in some vague language that it is an on-going fraud/crime investigation, hence they are not allowed to discuss it etc.

Good luck.

https://community.revolut.com/

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

#124

Post by michalu »

Aeolun wrote: post #113
michalu wrote: post #99

Earlier quoted context omitted.

> it got it's money from DST Global So does Facebook, DoorDash, FlipKart and hundred+ other Silicon Valley companies. Revolut also has money from Seedcamp, Balderton, Index and tons of other VCs. > Revolut is Russian owned and Russian managed pseudo-bank Since when being a Russian is a crime? Besides if a company is London based it is regulated by UK authorities. You make it sound like the guy being Russian, DST bein…

I don’t think the problem is that it has ties to a political entity. The problem is that that entity is a de-facto dictatorship that is well known for being corrupt.

The fact that CEOs father works as a deputy executive in a government owned company qualifies does not qualify as "ties," in any meaningful way.

Most shareholders and the regulator in control are western based and run by people whose parents aren't employed in Russia's public sector, as far as I know.

Show me a government that's not known to be corrupt.

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

#125

Post by JumpCrisscross »

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…

> All the CFPB did

CFPB is a joke. Your state financial regulator and the Fed enforce Regulation E in the United States.

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

#126

Post by treis »

JumpCrisscross wrote: post #125
treis wrote: post #122

Earlier quoted context omitted.

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…

> All the CFPB did CFPB is a joke. Your state financial regulator and the Fed enforce Regulation E in the United States.

Do you have a link to where I should complain?

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

#127

Post by disiplus »

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.

on sixt this month i had a transaction with google pay that is connected on my revolut card. that it took 2 days to show up. even support could not see it. they kept saying the top up will ve reversed, even when it was a completely different issue.

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

#128

Post by patresh »

stavros wrote: post #79
Dayshine wrote: post #51

Earlier quoted context omitted.

Even if he'd removed the limit entirely, that doesn't show intent to allow that specific transaction through. What if he was removing it to make a completely different payment? It seems like terrible UX to not allow/require individual approve/reject on transactions that triggered the limit.

> It seems like terrible UX to not allow/require individual approve/reject on transactions that triggered the limit. This would have been a massive improvement, agreed. Maybe they have to make a call within a few seconds and can't ask your permission first, though, so maybe that's not possible. Still, the notification could have shown "Your transaction to MERCHANT for AMOUNT on CARD was declined because of your limit…

It is possible. Some other banks do it exactly this way. If the transaction amount is large enough, they ask you to authenticate on their app and confirm the transaction.

I suspect that by wanting to move fast they put less emphasis on the features that are more time-consuming to implement.

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

#129

Post by aginovski »

Btw, there is a procedure in all banks called dispute request (chargeback request). None of the banks will give you the money back to your debit card without the knowledge of the seller. Imagine how many free items or service you can get if that's possible. So it's not about Revolut.

To open a dispute the transaction needs to be settled. After that Revolut or any other bank can give you the option to fill the form and start the dispute procedure where the seller can place their arguments against it.

After you submit a dispute the card issuer will review both arguments and make a decision (it depends on the bank). Most of the times when the seller doesn't submit evidence against the dispute you'll receive your money back.

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

#130

Post by nsgf »

StavrosK wrote: post #104
fevangelou wrote: post #48

Earlier quoted context omitted.

Actually I had a similar issue with my Piraeus Bank credit card being stolen while I was on a trip in Italy (back in 2011). They charged my card over 3300 EUR after I returned to Greece. Went over to the nearest branch, looked at the transactions with the representative, signed a document that I never made them and that was it. No funds lost. All transactions were cancelled in a few days, new card issued. Keep in min…

It is :( Piraeus is pretty cool, their apps have been convenient. The biggest issue with me is that I can't split bills with my friends because it costs 3 euros and takes a day to send money to a different account, while Revolut makes that use case easy. Not "1057 EUR" easy, though.

Have you checked the bank's IRIS online payments?
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