Revolut Megathread.

KilOit · 15-01-2021 7:36pm

Just locked me out of revolut now, not on rooted device and didn't update anything

banie01 · 15-01-2021 7:37pm

KilOit wrote: »

Just locked me out of revolut now, not on rooted device and didn't update anything

It's not just rooted devices that are being affected unfortunately.
It's also hitting custom ROMs without root and devices with unlocked bootloaders.

KilOit · 15-01-2021 7:45pm

It's a OnePlus nord at factory settings

banie01 · 15-01-2021 7:48pm

There is a workaround for this issue that I've tried and can confirm works.

If you install an earlier version of Revolut, anything before the 14/1 last release.
It will install and run as normal, you need to ensure that you switch auto-updates for it off in play store.

As it's a financial app, only download/install an .APK from a source you have confidence in.
DYOR and be sure to keep safe.

banie01 · 15-01-2021 7:49pm

KilOit wrote: »

It's a OnePlus nord at factory settings

Running Oxygen OS?

KilOit · 15-01-2021 7:51pm

I'll try, it was working an hour ago and didn't update anything unless it was some backend update from revolut. I'm sure I'm not the only one affected by this.

KilOit · 15-01-2021 7:52pm

banie01 wrote: »

Running Oxygen OS?

Yes

banie01 · 15-01-2021 7:56pm

KilOit wrote: »

Yes

Technically because of however Revolut have coded the OS id function, it's tripping the Revolut app to see the phone as rooted.
Oxygen is despite being factory fresh, a custom os as far as Revolut seem to be concerned.

The work around is posted a few posts up and it does work and should until Revolut make the update mandatory.

Kopparberg Strawberry and Lime · 15-01-2021 7:57pm

KilOit wrote: »

Yes

I'm running the same, standard Nord on factory settings etc and up to date app. I'm working fine with no issues

Bummer1234 · 15-01-2021 10:25pm

Has anyone ever successfully got a statement of the money thats held in there vault/group vaults?

Myself and the misses have a group vault to save for the mortgage and off course need a statement of our savings but trying to get proof of these from revolut is a nightmare. They keep sending us out our current account which shows the money going to the vaults but can't get a statement of the vaults themselfs.

Any ideas before I move my money to a credit union to just to prove we have the savings. :eek:

15-01-2021 11:27pm

Bummer1234 wrote: »

Has anyone ever successfully got a statement of the money thats held in there vault/group vaults?

Myself and the misses have a group vault to save for the mortgage and off course need a statement of our savings but trying to get proof of these from revolut is a nightmare. They keep sending us out our current account which shows the money going to the vaults but can't get a statement of the vaults themselfs.

Any ideas before I move my money to a credit union to just to prove we have the savings. :eek:

Please move savings away from Revolut. I have nothing against them but they aren't for savings and do not have banking licences and so are not part of deposit protection schemes. They have e-money licences, with a bank your savings are protected up to 100k, with anything else you have no protection.

It would be different if you were investing for gain and accepting risk, but this is for a mortgage. While it's unlikely they'll go bust in the morning, stranger things have happened. See Wirecard Germany.

Bummer1234 · 15-01-2021 11:36pm

Deleted User wrote: »

Please move savings away from Revolut. I have nothing against them but they aren't for savings and do not have banking licences and so are not part of deposit protection schemes. They have e-money licences, with a bank your savings are protected up to 100k, with anything else you have no protection.

It would be different if you were investing for gain and accepting risk, but this is for a mortgage. While it's unlikely they'll go bust in the morning, stranger things have happened. See Wirecard Germany.

Did they not get a lithuania banking license in the last year to protect like a bank up-to 100k?

Yggr of Asgard · 15-01-2021 11:52pm

Bummer1234 wrote: »

Did they not get a lithuania banking license in the last year to protect like a bank up-to 100k?

They do have a bank license but it is not in use for Irish customers, those are on the emoney license.

The bank license is only in use for Lithuanian and polish customers at the moment.

killbillvol2 · 15-01-2021 11:58pm

Bummer1234 wrote: »

Has anyone ever successfully got a statement of the money thats held in there vault/group vaults?

Myself and the misses have a group vault to save for the mortgage and off course need a statement of our savings but trying to get proof of these from revolut is a nightmare. They keep sending us out our current account which shows the money going to the vaults but can't get a statement of the vaults themselfs.

Any ideas before I move my money to a credit union to just to prove we have the savings. :eek:

In a thread with a lot of stupid posts/ideas this may take the biscuit. Move your money. Now.

16-01-2021 12:23am

Finance is tricky and it's not everyone's strong suit. Were it not for forums like this, I think most people would not know that their money night not be so safe in Revolut. I only know because I work in finance.

Always ask the question I say.

stockshares · 16-01-2021 1:01am

Use Revolut for spending Online, when travelling for best exchange rates and for spending when out and about.

Don't use it as a savings account.

Bummer1234 · 16-01-2021 1:56am

killbillvol2 wrote: »

In a thread with a lot of stupid posts/ideas this may take the biscuit. Move your money. Now.

I do like a good biscuit mind....but otherwise will take your advice on board and move to saver environments....luckily our savings on Revolut aren’t huge anyway but I’m sure there is others reading this that perhaps has a right few euro in there vaults also so this could be a heads up....

Thanks all..

KilOit · 16-01-2021 4:54pm

banie01 wrote: »

Technically because of however Revolut have coded the OS id function, it's tripping the Revolut app to see the phone as rooted.
Oxygen is despite being factory fresh, a custom os as far as Revolut seem to be concerned.

The work around is posted a few posts up and it does work and should until Revolut make the update mandatory.

Thanks, previous version of Revolut worked no problem, auto update is off till it's sorted on their end hopefully

donspeekinglesh · 16-01-2021 8:03pm

If you use Magisk, there's an option to rename it to hide it. This works on the original update that broke it.

There's a more recent update, bit I'm not going to install it.

Zardoz · 16-01-2021 9:03pm

Mr.S wrote: »

To be fair, a quick Google would show that Revolut in IE is not covered under the DGS.

What doesn't help is the wording on Revolut's website.

There is protection of client funds though, but yes you would be a bit silly to put a large amount of funds into Revolut.

Not only is Revolut not covered under the DGS , there is also the risk of them freezing your account on a whim.

Sheep Shagger · 17-01-2021 1:40pm

Credit Unions want to appeal to the Revolut generation...

The J Stands for Jay · 17-01-2021 1:54pm

Sheep Shagger wrote: »

Credit Unions want to appeal to the Revolut generation...

Who are the revolut generation? I work on finance, and all the manger, who are in their 40s, use revolut. I doubt if any of them are members of a credit union. If credit unions are more expensive than their competition, they need some other reason to exist.

Creamy Goodness · 17-01-2021 3:17pm

Sheep Shagger wrote: »

Credit Unions want to appeal to the Revolut generation...

and they do that by having an article in a newspaper and one with an old demographic :pac:

The J Stands for Jay · 17-01-2021 6:03pm

Mr.S wrote: »

But...they do? Revolut can't offer what CU's provide.

The issue with CU's is that most of them are stuck in the stone ages with regards mobile / online features - it's only fairly recently that CU's started to offer a debit card for use online etc (!)

Their competition is banks providing loans. My local credit union offers personal loans at 10.94%. bonkers.ie comparison for personal loans shows all the banks are lower than that. An Post will do it for 4.9%. I'm not seeing what credit unions can offer potential customers right now.

jobless · 18-01-2021 11:03am

how long do bank transfers to revolut normally take?... its from a personal PTSB account

irelandrover · 18-01-2021 11:07am

How long before you can withdraw money after selling stocks?
I sold stocks thursday last week but it is still unavailable as it is unsettled money.

Aquos76 · 18-01-2021 11:16am

jobless wrote: »

how long do bank transfers to revolut normally take?... its from a personal PTSB account

During banking hours, it normally takes a couple of hours for me.

Jim2007 · 18-01-2021 3:31pm

irelandrover wrote: »

How long before you can withdraw money after selling stocks?
I sold stocks thursday last week but it is still unavailable as it is unsettled money.

Here is the thing, it normally takes 2 to 5 business days for a stock exchange transaction to settle. However these days most brokers just credit you with the cash more or less immediately and the settlement just completes in the background.

So unless the transaction was from something exotic or you are dealing with a very small broker, I would have expected you'd have access to the cash by now.

inel · 18-01-2021 5:35pm

irelandrover wrote: »

How long before you can withdraw money after selling stocks?
I sold stocks thursday last week but it is still unavailable as it is unsettled money.

Maybe also take into account that today is a holiday in the US and NYSE market is closed.

tenreds · 18-01-2021 10:37pm

I work in NI but my wages are paid into my Irish bank account ( BOI). Since the start of January bank has been charging me €7.50 every week for my wages coming in to the bank I think because of Brexit.Would it be better if I got my wages paid into my Revolut account and just transfer then into my Irish bank account

Revolut Megathread.

Comments