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Revolut.com - Reviews - Discussion and personal experience!

JohnLocke

JohnLocke

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Dec 29, 2008
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#1
Since this is one of the first services we have seen on this forum I found it to be useful to open a new thread to discussion https://www.revolut.com/dk/cryptocurrency

Please post about your personal experience or whatever you may know about this company in this thread.

revolut-com-reviews-discussions.jpg
 
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#4
diablo said:
Someone know what documents they require and if they require Skype Interview or similar?
Click to expand...
I opened a personal account with them. You can open the account very simply! You just download the app and then follow the instructions.

The documents they require are just standard KYC. The only "confusing" part is if they provide unique IBANs or not... Initially I was told they do so I signed up but then I got a notification that "unique IBANs coming soon"...

If anyone has any other experiences it would be good to share. Until now, I have just kept it on hold...
 
#5
I just did the same, only used the APP - no KYC documents are requested ns2 Just phone verification and that's it. To unlock the cryptocurrency wallet / Exchange we have to go Premium it seems which costs Money on a monthly basis aprox €8 everyt month.

I'm okay with the fee and also with the service as long as they don't freeze accounts or shut down the service once you start moving Money and crypto currency around.

I also see no limits at any point, maybe I didn't look at the right place yet.

So my question is, how reliable is this Company :
Revolut Ltd is a company registered in England and Wales (No. 08804411). Revolut Ltd is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011, Firm Reference 900562.
Click to expand...

How much money are they backed with??
 
#7
I had to verify with passport and selfie! waiting for verification, other than that it looks all good.
 
#12
I just see that they issued my own IBAN for EURO account.. at least it says Beneficial Owner is my name! Only crap is that we have to pay €8 / month to get cryptocurrenciy activated. I asked their support you can't transfer BTC, Etherium or Litecoin to other wallets once they are in your revolut account!

So for Trading the major coins it's not very goot but to get your crypto to FIAT it's great.
 
#13
guys before you think this is IT then I have to inform you that you can't transfer BTC, Etherium or any other currency from your current wallet to this revolut "banking system" you can exchange your currencies only if you load your account with real money buy crypto i.e. BTC and exchange it back again.

This is the most shitty service I have seen for a long time. What use should I have for it.. just wastet f*****g €100 EURO to this s**t.
 
#15
I've also tested Revolut the last week (personal account). It's very easy to setup and confusing to get an overview.

App for personal account (free and premium).
It seems you can top up your revolut account for free with a debit card (credit card 1%) which is very handy. My main account is Bank of Cyprus and they charge at least 3 Euro for every bank transfer wire to another bank. So for my personal account I can top up on revolut and send to another IBAN/BIC for free with this construction. This is also good if you want to use prepaid (virtual for free or plastic 6+10 Euro once) visa for e.g. internet transactions from Revolut. I heard in the past the used Lithuania IBAN + GB BIC which caused problems on many banks (for topping up account) but my account has GB IBAN + GB BIC which should be no problem.
About bitcoin: You cannot transfer BTC/LTC/Ether outside of Revolut... it is stuck to your account. What also does not work: IBAN transfers to kraken. They s*ckers blocked it. I have not tried out Premium and I do not intend to use Premium.

Web only for Business account (costs at least 25 GBP/month).
Did not tested this.
 
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#17
Does anyone know how Revolut shares the data you provide?

If you lift above 15k EUR limit, do they share this information with authorities? Do these authorities then share this information with respective governments?

Do they report according to AEOI / CRS? Do they report only end of year balances or annual turnover?
 
#19
Ok, let us say it is covered by CRS even under 15k. In that case it doesn't matter if you increase turnover over 15k, because you will get reported either way.

CRS reports end of year balance, correct?

So what if you use Revolut to transfer a large sum somewhere else. Then close the account? So at end of year they report 0$ or don't report at all?

CRS doesn't say that they have to report turnover, correct? Only leftover balance? Is that right?

So if they report balance of 0$ you are good?

Can anyone clarify this?

And if Revolut is an EMI that reports according to CRS, which ones do not? N26, BUNQ, Monese, others?
 
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