Base currency

Hi Revolut - As a power user - I have a few points or ideas for improvement and am happy to talk , or invest in Revolut.

I am a business account holder and an Ultra customer - whilst in the background I understand Revolut may need to sustain a base currency linked to the geographical location of the acct - from a front end gui perspective can we not elect a base currency for display purposes only ? This could then be changed dependent on our choices? My base Revolut currency is Euros but I look at my global net worth in dollars and find myself using an outside software platform to calculate my total cash with Revolut across all my currency Accts typing in the Euro total to see its value in USD ? Can Revolut add this to its tech updates?

Point 2 - When I have card security activated - it seems sometimes the POS machine must connect to a phone number not geographically located at the same place as to shop or there is a mismatch in location data resulting in the transaction being declined ? To solve this I have to turn off location data which I don’t like doing ? For a low value transaction can Revolut not send my a push message or ask to utilize Face ID to over rule location mismatch and allow the transaction to proceed - maybe we can opt out of chargebacks thus pushing any associated risk to the client side ? I just want the card to work with the highest level of security but realize there may be exceptions ?

Point 3 - Revolut knows everything about my spending patterns and location data and yet still asks me various kyc and aml provisional and tax questions ?

Can Revolut tell me (as part of the Ultra service ) how many days I spend in each country ? You use Geo location ? Can you include travel days as they are counted as two countries which would help me with my own tax accounting ? Can this link back to the kyc profile so when we upload tax position documents it makes life easier for the Revolut employee in compliance ?

Point 4 - Can you do more for non doms and perpetual travellers who aren’t living life pigeon holed in the traditional compliance way and adapt compliance accordingly? So many countries now including Estonia , UK , Portugal and many more globally are offering nomad or residence by investment visas a lot of which makes banking tricky ! I’m sure this already is a great customer segment for Revolut

Point 5- Go deeper into Crypto and become a crypto bank as well or offer services similar to coinbase in the same app as well as more financial services - Saxo / Freetrade / Robin Hood / IB - let us elect to bank as a base currency in crypto run a division where no country is required ? ( libertarianism) allow me all my financial services in one place ?

Point 5- love the flexible acct and have annoyed my bankers at other banks moving money into Revolut to receive the daily interest. This doesn’t look great however from an AML perspective as I sometimes think do I move money just for a week from a traditional bank to Revolut ( I think I’m getting 5.36% daily interest paid and there is something very satisfying despite the value of money being less ) in me having coffee and lunch paid ! I’d rather increase my savings 20x but then I’d worry about bank deposit guarantees - can Revolut also reinvent this outdated banking anomaly please ?

Point 6 - Last point why refuse me a credit card when you have full financial history going back multiple years and money in deposit of higher value than any credit limit I might require? ( Amex centurion costs 5000 USD per year ) is paid in full but Revolut won’t offer a credit card ?

The key point here - Revolut is paying 5.36% interest remitted daily , merchants accept settlement in arrears and a credit card offers approx 45 days free money to then be paid in full - I’d like all my spending to be on a credit basis settled in full 45 days later ? What are Revoluts criteria for credit cards ? Why do you decline certain individuals when you have so much data ?

Anyway ………….

Amazing tech , great bank , the best foresight - I am a power user who sadly has a hard time when I’m forced to go back to my traditional bank accts - you still don’t have my full share of wallet but you should have !! Fixing all of the above would help ? Maybe you become a fintech where banking truly is on an individual basis - now there is an idea !!!

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Regarding point 2: Revolut’s feature works in the background. Sometimes, a company might be registered in a different location than the branch where you are shopping. So even if the Revolut app correctly identifies your location, the feature might result in a declined payment because the merchant’s address doesn’t match the location of the branch.

I don’t think the solution you’re suggesting is possible. Revolut has no control over the design of the payment process. Card networks and payment service providers would have to implement that sort of additional step. The authorization happens in milliseconds, the process isn’t designed for any customer input at this point.

That’s the reason why another of Revolut’s security features, fraud detection, works in retrospect. The app tells you that a payment was declined because it looked funny. The user can then tell the app that it was indeed a valid transaction and try again. But there’s no option to influence the risk assessment while it happens.

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