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Out of interest, do you feel so strongly that money laundering should be prevented that you are unwilling to do business with a company that might be not doing
by Robin_Message 8y ago
Out of interest, do you feel so strongly that money laundering should be prevented that you are unwilling to do business with a company that might be not doing enough to prevent it?
If not, what is it that Revolut has done according to this article that makes you want to quit?
- sschueller 8y agoNothing to do with that. It's because of this: https://twitter.com/phillipcaudell/status/1101081229351415808 https://twitter.com/phillipcaudell/status/110108122935141580... and how the company operates. Not something I want to support.
- Robin_Message 8y agoOh I see, fair enough, that makes a lot more sense! Good on you for taking an ethical stance and good luck actually cancelling.
- leereeves 8y agoIn addition to the ethics, I'd be very concerned about being a customer of Revolut in the future. Once they stop buying market share, this attitude toward others is likely to apply to their customers as well.
- SquishyPanda23 8y agoWow he really comes across as someone who doesn't know how to lead.
- taurath 8y agoHe’s a boss not a leader. Fear and intimidation is a great way to keep churn high so people will give up their stock :p
- cporios 8y agoI'm not the OP, but if you're interested in criticisms of Revolut, here's a complaint/rant letter (yes, physical letter) that I sent to them half a year ago: https://pastebin.com/L507bvf7 https://pastebin.com/L507bvf7
- adrianmsmith 8y agoGreat letter. How did that go, did they reply to your satisfaction?
- cporios 8y agoThey gave some justifications for my complaints and apologized. They let me cancel my Metal plan without deducting the cancellation fee, as per my request. They sent me a copy of all my data as I later requested, and deleted my account.
- IfOnlyYouKnew 8y agoRevolut is not insured by FSCS, the standard UK deposit insurance scheme (because it's not a "bank", it's "something something digital"). They say all money is parked in a trust account at a regular bank in Lithuania. But I wouldn't want to be involved in testing how well that setup hold up in court.
- krn 8y agoRevolut has the same Electronic Money license in the UK as TransferWise, meaning that the money is parked at a regular bank in the UK, but not under your own name. However, Revolut received a banking license in Lithuania in December 2018, and should soon start operating as a normal bank with the standard 100,000€ insurance, demanded by the EU. Yet, if Revolut failed at some point in the future, it's unclear how the Bank of Lithuania would be able to cope with the liability, since Revolut already has more users than there are people in Lithuania[1]. [1] https://www.theguardian.com/money/2018/dec/22/lithuania-iceland-banking-revolut https://www.theguardian.com/money/2018/dec/22/lithuania-icel...
- HarryHirsch 8y agoCats Protection has a story to tell about Kaupting.
- arthurcolle 8y agohttps://www.dailymail.co.uk/news/article-1076303/Cats-Protection-set-lose-11-2million-biggest-charity-victim-Iceland-bank-crisis.html https://www.dailymail.co.uk/news/article-1076303/Cats-Protec...