Anyone using Revolut?

[fizzy]

Just put our new business account with them.
Lots of good things - most important a manager who will actually ring me at 7pm on a Sunday if required

BUT the over the top security is driving me mad. I log in on my desktop and give a 6 digit pin. Then it sends me an email. I verify it and I am in. But then if I want to send money - even a fiver to myself - or adjust a setting it wants me to take a selfie on my phone
I asked my manager and he said Revolut were safety first. I questioned the logic of why I couldnt send myself £5 even after I had been verified but if I dropped my wallet people could spend £100 or more no problem using my contactless card - no answer

Hopefully it will calm down the more we use it. But it seems to me it is totally geared up to be used on a mobile phone not a proper computer. How do businesses with an accounts dept manage? Not everyone does their business banking sitting on a bus.

 

[Kayos]

I have an account but don't use it

Lots going on with the banking license I didn't like

My other app based banks give businesses users a proper desktop login

 

[fizzy]

I have an account but don't use it

Lots going on with the banking license I didn't like

My other app based banks give businesses users a proper desktop login

We use Barclays and NatWest - simple chip and pin. Revolut way too OTT but customer service is perfect and old school - totally unlike modern banks.

 

[ajlelectronics]

We use Barclays and NatWest - simple chip and pin. Revolut way too OTT but customer service is perfect and old school - totally unlike modern banks.

Any business that expects "selfies" or video clips sees me taking my business elsewhere. Trading 212 looked interesting until they started that caper.

 

[skotl]

Wee reminder that Revolut does not currently have a full banking licence in the UK (or in France where I used it as a business account).
So not all FSCS protection may be available.

 

[ajlelectronics]

Wee reminder that Revolut does not currently have a full banking licence in the UK (or in France where I used it as a business account).
So not all FSCS protection may be available.

Or even minimal protection according to consumer news reports.

 

[fizzy]

Wee reminder that Revolut does not currently have a full banking licence in the UK (or in France where I used it as a business account).
So not all FSCS protection may be available.

Our money goes out as fast as it comes in so no worries there

 

[fizzy]

Wee reminder that Revolut does not currently have a full banking licence in the UK (or in France where I used it as a business account).
So not all FSCS protection may be available.

They now have a conditional licence. Apparently regulators are concerned by how fast they are growing and are concerned about compliance and security hence the ott safety features.
65 million customers worldwide.

 

[skotl]

They now have a conditional licence. Apparently regulators are concerned by how fast they are growing and are concerned about compliance and security hence the ott safety features.
65 million customers worldwide.

Not sure whether you're positioning that as a positive or a negative!
I sure as hell wouldn't be leaving much money in that account - too much risk for minimal benefit.

 

[500e]

Revolut customers say e-money firm failed them after being scammed

Revolut was named in more complaints about fraud last year than any of the UK’s biggest banks or e-money services.

www.bbc.co.uk

 

[mtt.tr]

I only use it when traveling abroad

 

[Kram]

Revolut customers say e-money firm failed them after being scammed

Revolut was named in more complaints about fraud last year than any of the UK’s biggest banks or e-money services.

www.bbc.co.uk

In that example the guy read out a OTP code over phone to a scammer Then authorised two more payee's. Deserves to loose every penny in my opinion.

Its people like that, complete stupidity, that mean I now have to answer 20 questions and give a life history of a person before I can set up a new payee or send a small payment to my father.
I was fuming when I last tried to, only to find they now delete payees after so many months, I had to get all his details again, do a small test payment, before the real one. Extremely frustrating process that should take seconds.

 

[frank horton]

my daughter and the wife use it a lot....us in Crete,...
Daughter was even able to use it for a year in Ozz....with no probs...

 

[jo1010]

I only use it on a phone for it's virtual card function. I normally transfer money in before a purchase, and then the balance drops away to near zero. Quick and easy on that platform - I wouldn't be using it from a PC tho with the rigmarole you describe.....my only comment is that if a txn is declined eg for insufficient funds they levy a small charge on your balance!

 

[Seadog]

I use Monzo. Quick and painless.

 

[Bullet2012]

I use Monzo. Quick and painless.

Same here, Monzo just works, although i was surprised to learn that accounts are not available in guernsey .

 

[gaz1]

Just put our new business account with them.
Lots of good things - most important a manager who will actually ring me at 7pm on a Sunday if required

BUT the over the top security is driving me mad. I log in on my desktop and give a 6 digit pin. Then it sends me an email. I verify it and I am in. But then if I want to send money - even a fiver to myself - or adjust a setting it wants me to take a selfie on my phone
I asked my manager and he said Revolut were safety first. I questioned the logic of why I couldnt send myself £5 even after I had been verified but if I dropped my wallet people could spend £100 or more no problem using my contactless card - no answer

Hopefully it will calm down the more we use it. But it seems to me it is totally geared up to be used on a mobile phone not a proper computer. How do businesses with an accounts dept manage? Not everyone does their business banking sitting on a bus.

if you look at it from a security side of it its well protected to a degree but also useless as well

a 6 digit pin and then requests email veri is double verification which can be beaten

with adding a photo to it before funds are transfered thats 3 factor verification

however all of that can be beaten if theres people after money

now phones can be pinched and phones use email connected to them so thats 2 verifications gone with a missing phone the 3rd one is the hardest but it can be beaten by uploading a photo same thing really

stuff can be hacked and phones are one of them its also why i dont like bank apps on phones as goes for the ones that login via there mobile phones passwords can be gained by a hack so the 2 factor veri means nothing

as said a photo being uploaded can also be beaten as well

 

[fizzy]

if you look at it from a security side of it its well protected to a degree but also useless as well

a 6 digit pin and then requests email veri is double verification which can be beaten

with adding a photo to it before funds are transfered thats 3 factor verification

however all of that can be beaten if theres people after money

now phones can be pinched and phones use email connected to them so thats 2 verifications gone with a missing phone the 3rd one is the hardest but it can be beaten by uploading a photo same thing really

stuff can be hacked and phones are one of them its also why i dont like bank apps on phones as goes for the ones that login via there mobile phones passwords can be gained by a hack so the 2 factor veri means nothing

as said a photo being uploaded can also be beaten as well

And yet they are happy to issue contactless cards with something like a £200 limit

 

[Kayos]

I use Monzo. Quick and painless.

I have a complex relationship with Monzo

I have several accounts, including my main business account with them but every now and then they do something so monumentally stupid I question everything

 

[gaz1]

And yet they are happy to issue contactless cards with something like a £200 limit

i have a wallet protector card inserted into the card slot in the wallet so stops handheld devices from scanning the wallet in your back pocket