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Revolut CFO resigns following money laundering controversy

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Re: Revolut CFO resigns following money laundering controversy

#81

How do I cancel my account? Nothing in the FAQ and support chat in the app is trying to sell me a metal card. EDIT: found it: https://www.revolut.com/help/profile/i-want-to-terminate-my-... EDIT2: What a shit show, I have been trying to delete my account for more than 30 minutes now. When you chat through the app you are first connected to a bot which you need to tell you want to talk to a human, after waiting a whil…

I highly recommend Monzo instead :) it is light years ahead of Revolut.

Re: Revolut CFO resigns following money laundering controversy

#82
post #47
post #3

also CEO of Revolut: "Why aren’t you working on weekends?" https://twitter.com/phillipcaudell/status/110108122935141580...

I really don't see a problem with this. It's not the "working on weekends" that's the issue, it's KPIs. If you promise something, deliver it. If you don't think you can, don't promise it!

There's a breed of execs out there that go: "Bring [metric] [up|down] [X%] by next [quarter|year]" without the slightest notion of if/how it could get done. And a number of them don't take any variation of "we need to negotiate that" for an answer.

Re: Revolut CFO resigns following money laundering controversy

#83
post #72

Earlier quoted context omitted.

Isn't that illegal in the UK without compensation?

It is completely legal in the UK without any compensation. I saw companies adding clauses in their contract of 'and you agree to work overtime without any pay' by default and claiming 'it is our standard template, no one complained before you' when confronted about it. Once you agree to such contract, they pretty much own your time.

> It is completely legal in the UK without any compensation.

This isn't strictly true.

The Working Time Directive provides you the right to work no more than 48 hours a week.

It is possible in the UK to opt out of the Working Time Directive, but it is not mandatory. You cannot be forced to do so.

So whilst a UK company can legally add a clause that says "you agree to work overtime without any pay", they cannot force you to work that overtime unless you have agreed to opt-out. A company that doesn't hire you because you refuse to opt-out is breaking the law.

https://www.gov.uk/maximum-weekly-working-hours

Re: Revolut CFO resigns following money laundering controversy

#84
post #42

Earlier quoted context omitted.

Why would anyone work for a company like this? You startup folk are much better than this! Thankfully this person pushed back. Why would you ever put up with something like this? I would laugh at the recruiter or manager if I was asked to do something like this. It’s akin to that door to door knife company that takes advantage of college kids. There was a wired article in the twitter link you provided. >She did a 30-…

> “Apologies you're not up to show what you're capable of,” he wrote in the email. It sounds like Laura showed what's she's capable of: standing up to abusive employers. It's a shame she was the only one.

She probably wasn't the only one, either. Con artists lie about everything.

Re: Revolut CFO resigns following money laundering controversy

#86
post #42
post #3

also CEO of Revolut: "Why aren’t you working on weekends?" https://twitter.com/phillipcaudell/status/110108122935141580...

Why would anyone work for a company like this? You startup folk are much better than this! Thankfully this person pushed back. Why would you ever put up with something like this? I would laugh at the recruiter or manager if I was asked to do something like this. It’s akin to that door to door knife company that takes advantage of college kids. There was a wired article in the twitter link you provided. >She did a 30-…

>Why would anyone work for a company like this?

For a sufficient amount of money I would do it. But it would be a LOT.

Re: Revolut CFO resigns following money laundering controversy

#87
post #81

How do I cancel my account? Nothing in the FAQ and support chat in the app is trying to sell me a metal card. EDIT: found it: https://www.revolut.com/help/profile/i-want-to-terminate-my-... EDIT2: What a shit show, I have been trying to delete my account for more than 30 minutes now. When you chat through the app you are first connected to a bot which you need to tell you want to talk to a human, after waiting a whil…

I highly recommend Monzo instead :) it is light years ahead of Revolut.

Monzo is only available to residents of the UK.

Re: Revolut CFO resigns following money laundering controversy

#88
post #83
post #72

Earlier quoted context omitted.

It is completely legal in the UK without any compensation. I saw companies adding clauses in their contract of 'and you agree to work overtime without any pay' by default and claiming 'it is our standard template, no one complained before you' when confronted about it. Once you agree to such contract, they pretty much own your time.

> It is completely legal in the UK without any compensation. This isn't strictly true. The Working Time Directive provides you the right to work no more than 48 hours a week. It is possible in the UK to opt out of the Working Time Directive, but it is not mandatory . You cannot be forced to do so. So whilst a UK company can legally add a clause that says "you agree to work overtime without any pay", they cannot force…

> A company that doesn't hire you because you refuse to opt-out is breaking the law.

Unless the company does something bafflingly stupid, though, there's likely no way to prove that's what happened.

Re: Revolut CFO resigns following money laundering controversy

#89

Earlier quoted context omitted.

Banks' business is to manage money not to turn money away... It's not unethical behaviour. It's simple business. No-one in any business is going to ask where their customers got their money from, you just try to make customers spend their cash on you rather than a competitor. Banks have to comply with the law, of course, but beyond that you cannot expect them to hurt their business for no reason. This "holier than th…

If you truly don't understand why there are anti money laundering laws I suggest you go commit some crimes for large financial gain and then figure out what the hell to do with the money such that you can use it.

That's the not the point of the thread you're replying to.

Someone claimed that it was the bank's fault because they did nothing to prevent money laundering. Why would they if they are not forced to? When you run a business you do not turn customers away, especially they they want to give you plenty of cash... It's naive or hypocritical to claim otherwise.

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