Not sure what you mean?
I didn't use Monzo flex anyway, any foreign transactions I've always just put direct onto my Chase card. Might have been the wrong way to do it.
Monzo/Starling Banking/Revolut
- Thread starter Junglist
- Start date
I didn't use Monzo flex anyway, any foreign transactions I've always just put direct onto my Chase card. Might have been the wrong way to do it.
RBS were giving 200 quid if you used their switch service a little while back.
Don’t think I get it. Tbh I just only use Monzo to pay direct debits so no need for it really.
Already been covered in the savings threadChase users.. I just got given a 5.1% boosted rate savings account so have shuffled my short term savings to that.
Check in the app
I just had an email from Revolut about upcoming changes to their terms and conditions. It includes this little gem which is highly dubious. If you have an account with them when the new T&C's come into force then those T&C's apply for ever, even if you close your account.
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Isn't that part of their banking license? Just means if you scam someone and think you can close your account/turn your PC off, they can still come after you. Or like a broadband contract where your contract ends but one final payment/true-up is due.I just had an email from Revolut about upcoming changes to their terms and conditions. It includes this little gem which is highly dubious. If you have an account with them when the new T&C's come into force then those T&C's apply for ever, even if you close your account.
Could be. Maybe I'm reading too much into it. It just seemed fishy to me, but perhaps I'm wrong.
Soldato
I just had an email from Revolut about upcoming changes to their terms and conditions. It includes this little gem which is highly dubious. If you have an account with them when the new T&C's come into force then those T&C's apply for ever, even if you close your account.
Saw that, closed account, haven't used them in some time.
Man of Honour
I assume this will be to cover bits like the section above it where they can charge you a £2 admin fee even if you've closed your account if you've left any money in itI just had an email from Revolut about upcoming changes to their terms and conditions. It includes this little gem which is highly dubious. If you have an account with them when the new T&C's come into force then those T&C's apply for ever, even if you close your account.
Did revolut pan out ? looking for cheapest way to have Dollars wired to you from USA (computershare) ?
For hmrc/fraud transparency has to be an account in my name with bank that has uk address(so revolut may not work#1),
I only hold UK santander + lloyds current pound accounts, the lloyds international dollar account(where I can cash $ checks) is unfortunately in isle of man, BNP no good either.
Seems lloyds charge 2.4% on top of wholesale exchange rate
santander say they just charge the bank of england base rate (whatever that is) without a charge, from a call with them.
so Santander seem to be winning, if, I have to convert to £'s,
( #1
revolut
- Receiving payments: You may be able to receive payments with local details for select currencies, depending on account type
To receive money via SWIFT in multiple currencies with Revolut:
)Haven't had to do it for a while.
Soldato
Starling Bank fined £29m for ‘shockingly lax’ financial crime controls
Challenger bank apologises after City regulator says lack of checks ‘left system wide open to criminals and those subject to sanctions’
theguardian.com
Really?? From my experience they are quite thorough and annoying when I tried to open a business account with them.Starling Bank fined £29m for ‘shockingly lax’ financial crime controls
Challenger bank apologises after City regulator says lack of checks ‘left system wide open to criminals and those subject to sanctions’
I've been with Starling for a few years now and I'm pretty happy with it. I'm now looking at opening a sole trader account with them for my new business and I was wondering if anyone else has a business account with them? Sorry I haven't read the entire thread.
Also open to other suggestions for a sole trader bank account.
Also open to other suggestions for a sole trader bank account.
Soldato
I've had one since they opened up to sole traders way back. There's nothing to say about it really, which is the way a bank account should be. Not had any problems with it in the years I've had it. No businesses have refused to pay into it, and I've been able to pay out of it anywhere I wanted.
Only thing I will say is that the USD and EUR accounts are now hold to new customers. In fact they have been for many months now. So if you want to receive other currencies, then best look elsewhere.
I see. Thank you. Shame about the USD accounts not being open to new customers as that is something I was thinking about as most of the competition in my niche is all USD no matter which country they are in.
I love the BBC’s clickbait Panorama shows. Sort of implying that Revolut have done something wrong but so far they’ve only shown people who willingly handed their details over to scammers.
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
I saw that. Wasn't sure what to believe. I did have a look at Revolut though as their multicurrency account sounds awesome but they don't support sole traders unfortunately.I love the BBC’s clickbait Panorama shows. Sort of implying that Revolut have done something wrong but so far they’ve only shown people who willingly handed their details over to scammers.
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
Commissario
I think part of the issue is that every proper bank actually has fraud lines fairly prominently marked up with a quick response, people who realised they'd been duped couldn't easily contact a dedicated unit in Revolut, and in some cases were on hold for 30+ minutes whilst the fraudsters were pulling money out.I love the BBC’s clickbait Panorama shows. Sort of implying that Revolut have done something wrong but so far they’ve only shown people who willingly handed their details over to scammers.
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
Also it appears that they don't have the same sort of automatic protections that every other UK bank is expected to have that will for example pause transations/lock the account if too much unusual activity is detected.
So yes people were conned into giving over their details but how Revolut handles it once people realise that is a big issue by the sounds of it, and one that they may have to fix before they get a full banking licence in the UK (as I understand it they're not a full bank in the UK or something).
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