Revolut Megathread.

JamesBond2010

John Horgan wrote: »

Been chasing down a missing €4.50 cashback reward from Revolut the last few days sadly.

Made the purchase from Lifestylesports in August so not overly impressed right now

The joys of revolut its okay till u have a,problem then thats when the fun starts for some people.

Fann Linn

JamesBond2010 wrote: »

The joys of revolut its okay till u have a,problem then thats when the fun starts for some people.

Probably the same for most service providers. Eir, Ryanair, Vodafone, HSE, Passport office. Everything is grand until there's a problem.

Mad_maxx

Cheshire Cat wrote: »

They only accept a passport or passport card.

i currently dont have a passport , ridicolous that they wont accept a drivers licence

mondeo

Has anyone got the new Revolut Glow card ? I got it but I have a question, where do you put your signature on the back of it ?

The J Stands for Jay

mondeo wrote: »

Has anyone got the new Revolut Glow card ? I got it but I have a question, where do you put your signature on the back of it ?

You don't need to sign chip and pin cards. I have a few with no signature panel.

Craig_David

John Horgan wrote: »

Been chasing down a missing €4.50 cashback reward from Revolut the last few days sadly.

Made the purchase from Lifestylesports in August so not overly impressed right now

Having issues with the Rewards aswell.
Tried to make use of this https://blog.bolt.eu/en-ie/weve-partnered-with-revolut-to-give-you-50-two-trips/ and I never got the 50% off (up to a max of 7 EUR)
Got in contact with Revolut today and their live chat told me to get in contact with Bolt. Laughable

dollylama

You can now set your own custom payments username in the app.. UK users have been able to for a few weeks I think. I'm using v8 beta

John Horgan

Craig_David wrote: »

Having issues with the Rewards aswell.
Tried to make use of this https://blog.bolt.eu/en-ie/weve-partnered-with-revolut-to-give-you-50-two-trips/ and I never got the 50% off (up to a max of 7 EUR)
Got in contact with Revolut today and their live chat told me to get in contact with Bolt. Laughable

It must be a more common problem than I realised then.
If anything they should contact Bolt on your behalf.

It should be on them to make sure what they offer as far as rewards go is quick and easy, and not expect the customer to go chasing it down

veryangryman

A KBC holder here with a Revolut card. Now that we're being shoehorned into BOI and their joke charges im looking around. Revolut for current account? Discuss

Mav11

veryangryman wrote: »

A KBC holder here with a Revolut card. Now that we're being shoehorned into BOI and their joke charges im looking around. Revolut for current account? Discuss

Haven't done it myself but I know a few who get their salary paid directly to Revolut. So why not as a current account?

Mav11

Actually, just thought, can you set up DD's?

Banana Republic 1

JamesBond2010 wrote: »

The joys of revolut its okay till u have a,problem then thats when the fun starts for some people.

Try dealing with Bank of Ireland or AIB then you’ll know what a day shovelling is!

flazio

veryangryman wrote: »

A KBC holder here with a Revolut card. Now that we're being shoehorned into BOI and their joke charges im looking around. Revolut for current account? Discuss

Less protection for your money against the company going belly up versus N26 which will protect up to €100k of your money in a German bank guarantee scheme.

Jim2007

veryangryman wrote: »

A KBC holder here with a Revolut card. Now that we're being shoehorned into BOI and their joke charges im looking around. Revolut for current account? Discuss

Well Revolut's losses have trebled according to their most recent accounts.... and most of the others are reporting losses as well. So one of two things are going to happen, either they introduce fees or they'll cease to exist.


So I think at this stage there are two ways to go:


- Look for an institution who's services meet your needs and accept that it will not be free


- Seek out the free services and accept the hassle of having to jump provider from time to time as well as the differences in service offerings.


And everyone is going to have to decide as their needs demand.

whatawaster

We have been with KBC for our current account for years (joint account). Also have a CU savings account and each have Revolut accounts.

Trying to figure out what to do going forward.


1) N26 for salary and all Direct Debits. Revolut for personal and day-to-day spending. CU for Savings and Cheque/Cash lodgement.

2) Just Revolut for all salary and expenditure. CU for savings and cheque/cash lodgement

3) Open a new joint current account with either an Irish bank or the local credit union. Accept there will be a small fee each month.

Don't like that N26 do not have joint accounts.

Yggr of Asgard

Do NOT keep any funds in Revolut that you are not willing or can afford to lose access to (at least temporary).

Once (if ever) they move Irish customers onto their bank license but not with an electronic money license and frequent account reviews, temporary access restrictions to accounts.

Use it for daily spending (especially in foreign currency) but I would not rely on it for Salary and important Direct Debits (like credit card, utilities etc.).

But that is my personal opinion.

scamalert

Jim2007 wrote: »

Well Revolut's losses have trebled according to their most recent accounts.... and most of the others are reporting losses as well. So one of two things are going to happen, either they introduce fees or they'll cease to exist.


So I think at this stage there are two ways to go:


- Look for an institution who's services meet your needs and accept that it will not be free


- Seek out the free services and accept the hassle of having to jump provider from time to time as well as the differences in service offerings.


And everyone is going to have to decide as their needs demand.

Long time revolut user, once i was asked how do they turn profit and seriously was a bit lost myself, as revolut offers free deposits and payments on card and using never went past 200-400e a month on groceries etc im not surprised, as think majority customers get by fine with free services, and seeing revolut offer non stop rewards, does create image they are a bit stuck.


that said like OP above, BOI customer and aside actual bank protection, its really hard to justify paying 6e each month, when theres no decent customer support in person anymore, and everything has been moved online or have to ring on their phones, which became norm long before pandemic, as BOI branches nowadays are stacked with atms, and some kid out of college to bring you to one.



I was thinking recently that propably best option would be to sign up with local credit union, thus irish account and almost same protection as banks and you deal with people directly once in a branch in most cases so big plus.

Creamy Goodness

I'm with KBC and I ain't moving until forced to, these are just talks atm that they have to disclose for shareholder purposes, the actual move will take years.

It's not super hard to move bank as most think it is (used to be terrible back in the 90's early 00's) and whilst it's not as easy as changing utility provider it's a lot closer to that than it once was.

I use Revolut exactly how Yggr uses it, anything in it is money I either a) afford to lose or b) transferred over seconds before a purchase (in a foreign currency) as Apple Pay transfers are instant.

Marhay70

whatawaster wrote: »

We have been with KBC for our current account for years (joint account). Also have a CU savings account and each have Revolut accounts.

Trying to figure out what to do going forward.


1) N26 for salary and all Direct Debits. Revolut for personal and day-to-day spending. CU for Savings and Cheque/Cash lodgement.

2) Just Revolut for all salary and expenditure. CU for savings and cheque/cash lodgement

3) Open a new joint current account with either an Irish bank or the local credit union. Accept there will be a small fee each month.

Don't like that N26 do not have joint accounts.

I'm in the same boat I have savings in KBC and Current a/c with Ulster Bank.
I'm thinking of shifting my current a/c into the Credit Union but I think their services are limited, not sure about buying in shops etc. I opened an N26 a/c at the very start but have never used it, I didn't know you couldn't have a joint a/c and that would put the kybosh on it being my main a/c. and I find N26 to be a bit user unfriendly. Never keep more than 100-200 in Revolut which I mainly use for Amazon. Bit confused about what to do now.

whatawaster

Marhay70 wrote: »

I'm in the same boat I have savings in KBC and Current a/c with Ulster Bank.
I'm thinking of shifting my current a/c into the Credit Union but I think their services are limited, not sure about buying in shops etc. I opened an N26 a/c at the very start but have never used it, I didn't know you couldn't have a joint a/c and that would put the kybosh on it being my main a/c. and I find N26 to be a bit user unfriendly. Never keep more than 100-200 in Revolut which I mainly use for Amazon. Bit confused about what to do now.

Looks like N26 have a kind of shared vault which could be shared with a partner. But it requires a premium account x 2 which would bring charges to €120 per year.

Spocker

Marhay70 wrote: »

I'm thinking of shifting my current a/c into the Credit Union but I think their services are limited, not sure about buying in shops etc.

The Credit Union Current Accounts are the same as the others, with a regular MasterCard debit card. Fees are listed here, with the main one being €4/month account maintenance, most others are free https://currentaccount.ie/files/W144AE_fees_charges.pdf

Marhay70

whatawaster wrote: »

Looks like N26 have a kind of shared vault which could be shared with a partner. But it requires a premium account x 2 which would bring charges to €120 per year.

Yes, I've seen the vaults, is it spaces they call them? I find the N26 website hard to negotiate, I wouldn't be that techy minded but there just doesn't seem a simple way to do simple things.

jimmycrackcorm

Mav11 wrote: »

Haven't done it myself but I know a few who get their salary paid directly to Revolut. So why not as a current account?

I wouldn't put my salary in after seeing several stories of Revolut users having their accounts locked and the difficulty of getting that sorted.

Also, my son was starting a part-time job last Christmas and the employer refused to accept his Revolut IBAN for payments.

I'm with KBC and so will have to move but I'll probably make more use of Revolut than I do now for day-to-day purchases.

Mav11

jimmycrackcorm wrote: »

I wouldn't put my salary in after seeing several stories of Revolut users having their accounts locked and the difficulty of getting that sorted.

Also, my son was starting a part-time job last Christmas and the employer refused to accept his Revolut IBAN for payments.

I'm with KBC and so will have to move but I'll probably make more use of Revolut than I do now for day-to-day purchases.

I have Revolut around 7 years at this point. Never had a problem or issue, but I wouldn't put my salary into it either, largely due to the weaker guarantee scheme.

Use it now instead of cash, or for online transactions.

JamesBond2010

Banana Republic 1 wrote: »

Try dealing with Bank of Ireland or AIB then you’ll know what a day shovelling is!

least you have real people there & a proper customer service number U can actually talk to people unlike revolut.

Marhay70

Spocker wrote: »

The Credit Union Current Accounts are the same as the others, with a regular MasterCard debit card. Fees are listed here, with the main one being €4/month account maintenance, most others are free https://currentaccount.ie/files/W144AE_fees_charges.pdf

Called into my local Credit Union today to open a Current Account and was amazed by the revelation that you can only have a max of €30k over all your credit union accounts. I still opened the a/c but whether I will use it is debatable.
I wouldn't be a wealthy man but I have saved in the CU for many years and have a healthy balance for when I might need to apply for a loan and this, combined with what I have in other accounts would put me very close to the limit.
What is the reason for this, is it part of the Govt trying to stop people moving away from mainstream banks.

Spocker

Marhay70 wrote: »

What is the reason for this, is it part of the Govt trying to stop people moving away from mainstream banks.

Holding money on your behalf costs money, both for Credit Unions and banks, and savings caps like that are CUs way of reducing that cost (think of all the people who will have to withdraw money from a BOI branch thats closing in their town, KBC or Ulster Bank). Ultimately none of the institutions (fintech or otherwise) want large sums of money - they are all charging to some degree

28064212

Marhay70 wrote: »

Called into my local Credit Union today to open a Current Account and was amazed by the revelation that you can only have a max of €30k over all your credit union accounts. I still opened the a/c but whether I will use it is debatable.
I wouldn't be a wealthy man but I have saved in the CU for many years and have a healthy balance for when I might need to apply for a loan and this, combined with what I have in other accounts would put me very close to the limit.
What is the reason for this, is it part of the Govt trying to stop people moving away from mainstream banks.

Nothing to do with the government. It's individual to the credit union, not all of them do it, and of the ones that do, they don't all use the same figure.

The reason is that holding onto large deposits costs financial institutions money. Despite the common perception that they can just loan out your money to someone else and make profit on the interest, the reality is far from that simple, and in an era of historically low interest rates, large cash deposits are not attractive

Dodge

This video from the public service credit union explained why they put a limit on savings pretty well IMO

http://youtu.be/8lggns6CRy8

Marhay70

Yeah, makes sense, at least to the banks, but €30k seems an inordinately low figure in this day and age.