Revolut scam

[suavecarve]

Worthy of a read if you have a Revolut account

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

There were more reports of fraud naming Revolut last year than any other financial institution, BBC finds.

www.bbc.co.uk

 

[Shrimp]

I don’t think that will affect us as the only money we have on our Revolution cards is the money for food shopping and fuel!

 

[Widge]

Although we regularly use Revolut for transfering money, we very rarely leave much money on it. And although I agree that revolut should have reacted quicker to this case.

But the guy was very stupid to have answered all that information to a stranger, I would always demand a number, call reference and name that I can ring back on then contact revolut directly.

We had an unusual fraudulent transaction for 49.99€ go out andcrevolut contacted us immediately to check if it was valid.

 

[Lenny HB]

We only normally keep a few quid in our Revolut accounts most I've ever used it for was a €10,000 payment.
Once had a payment taken twice opened a chat with them and it was refunded in minutes.

I think the guy was a bit silly giving info over the phone.

 

[Gaston aires]

I read this. Giving information over the phone is fraught with danger. The banks say they never ask for sensitive information over the phone, what did he do but just that.
Phil

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[Jim]

These days, getting through to any service provider by phone is almost impossible; whether it's your bank, local council, internet provider, or even the Inland Revenue. They don't do phones. So, if you get a call from any of them, assume it's a scam. Every. Single. Time.

 

[Guigsy]

I'm not sure another "bank" would be any different. If you hand over your credentials, you're on your own.

 

[Odd job]

Twice I've had a card compromised, both times the card provider contacted me to question the transaction, both times I refused to give any identification information to them. Both times the person who called said that is ok, but contact the bank immediately, which I did using the number on the card.

 

[ivorantony]

They explicitly say they will never contact you by phone, so Any phone call supposedly from them will be a scam,

 

[Gizmouk]

Folk need to learn to take responsibility for their own actions / decisions - no matter how dumb

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[Gromett]

Worthy of a read if you have a Revolut account

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

There were more reports of fraud naming Revolut last year than any other financial institution, BBC finds.

www.bbc.co.uk

That guys own fault. He went around the very security precautions to prevent this.

Minor sympathy for being scammed. But blaming the bank is wrong in my view.

 

[Sheddy]

Agree with all above the guy was at fault but it still makes a gooooood story for the Beeb

 

[swemmy666]

Follow the basic rules
1. Never, I say NEVER download software based on a caller asking you to, nor go to a website and hit a link
2. When you are called and they ask you to verify who you are, ask them how they can verify who they are. Even if you know they are a valid caller, still ask. Organisations should never phone you and then ask you to verify, but they do, they should only do this when you call them.
3. Don't let them hurry you with dire warnings, this is a danger sign
Ask for their name, dept etc, then using a different phone ring, the number you have for that organisation and ask to be put thru to the person / dept
4. when you are sure its a scammer, take the piss. Play dumb, take the conversation off on a tangent, waste their time, and dont forget to sign off with some abusive insult, these fukers are trying to steal your money, they deserve no courtesy

 

[OldAgeTravellers]

The only organisation I have found to take “my” security seriously is Nationwide who hold a password for me so they can prove who they are if they call me. Although the first time I used it they hadn’t registered it properly which cost them £200 compensation for their error. But now it is stored properly.
But recently after 2 call-outs with the AA they still call and ask “to take me through security” and I just say unless you can prove who you are then you will have to email me. Which of course inconveniences them, so eventually they may take our security seriously.
It is just one small field in their computer file, why can’t they realise that it would save so much grief and lost money. Perhaps I am wrong, maybe Gromett can explain if it so much of an overhead in a system to implement a two-way password system or if there is another reason for them to be so reluctant to do so.

 

[Brains]

Considering what a small percentage of accounts Revolut has compared to the high street banks, the numbers are dreadful.
It should also be noted that Revolut (and Monzo) are not yet technically a "bank".

For those of us wondering which Bank (certified bank), to use to hold a Euro Account, I'd still back Starling as being the best all round bank.
Especially as they failed a recent security drill audit (no money taken), so they will now be upping their security to the highest possible level.

Starling have a button on their app (as do Barclays and possibly others) to immediately freeze all cards.

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[sueandjohn]

I can freeze my revolut card in the app


You can instantly freeze or unfreeze your card in the Revolut app:

1. From the 'Home' screen, tap the card icon in the top-right corner.
2. Choose the card.
3. Tap 'Freeze'/'Unfreeze', as needed.

 

[Brains]

As an aside:
Barclays have checks on my accounts for odd spending habits.

I used by card in London
Later that day I was in Hong Kong trying to get money from an ATM, I got a strange call asking where I was.
Not wanting to divulge anything, I said 'Nathan Road' to which she replied 'is that in HK?' I said yes, and she said go back to the ATM in 10 mins and you will be able to get money out.

I also had a similar call in Cornwall having just paid for a cream tea.
Apparently I was also in the Midlands buying lot of shoes.
I walked in a Branch of Barclays whilst still on the phone to the fraud team, and the cashier cut up my card (having given me £200 is cash!)

 

[swemmy666]

"Considering what a small percentage of accounts Revolut has compared to the high street banks" 45 million customers worldwide, according to beeb news

 

[Riverbankannie]

The opposite side of the coin is that Revolut are trying to cut down on fraud. Recently, on holiday , I couldn’t get at my own money. When eventually speaking to fraud team the chap said it is only going to get harder for the ordinary customer. I was in an out of signal phone area so couldn’t respond to their texts.

 

[Brains]

"Considering what a small percentage of accounts Revolut has compared to the high street banks" 45 million customers worldwide, according to beeb news

You made me look up numbers of customers:

Barclays 48m customers
HSBC 40m
Lloyds 37m
Monzo 10m
Starling 4m

I admit they have more customers that I thought, but even on a percentage basis it still makes Revolut the worst performing bank on fraud by far.

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[Brains]

Bottom line is if you have a lot of money in cash, then you need to have a lot of bank accounts at different banks.

I have a business account which from time to time gets in or spends a large amount of cash in a very short period,
I make a point of every time it gets over a certain amount I move a chunk to another bank, and then move it back when needed.

Remember the banks are now limited to only repay up to £85k in the case of fraud.
Therefore NEVER have more than £85k in any one bank
(This includes shared accounts, spousal accounts, Executor and Charity accounts etc)
It means if you are the Chairman or Secretary of the local Golf Club, make sure they do not use the same Bank as you do personally.