I’ve had this idea about finding recurring debits and showing those separately. Posted here: Find Recurring Payments and Show Those Separately 💸
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Let make 2020 better
First thing, hope in 2020 you can use your BANKING LICENSE
a brief summary of what i’m looking from Revolut
Card :
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a real debit card with offline payment (for the fuel, payment in the plane) , no more prepaid card !
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an optional Credit card for hotel and rental car (bunq is already doing it)
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More than 0.1 % cashback within Europe would be nice
Upgrade for Real Visa infinity or real world elite mastercard
With unlimited access to Airport lounge, concierge, and perks
i saw a rumor on twitter about a Visa infinity card but nothing on in App
Account
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more local banking details, specialy US and CHF, i saw lot of people asking for it
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Give a local IBAN, french user with IBAN starting with FR
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SEPA instant payment for free (bunq is already doing it)
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more supported currencies in the wallet
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ability to change my base currency
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Add more currencies for International transfer, if you can’t do it, partner with someone else (western union, money gram, tranferwise, worldremit), bring the service for the 10mio users
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For FX, Ok i admit for EURUSD you’re good, very good, i saw 0,0001 difference between revolut app and my bloomberg screen, but be more competitive in other currencies, sometime its huge, on-board more counter-parties and adjut your execution algo, for the weekend mark up, i know you need to hedge yourself, but come on its huge, you can reduce it
Overdraf and loans
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it’s all about banking license, but people need overdraft, at least for 30 days free of charges
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for loans, i saw that loans is already available in UK but not in rest of Europe
i want to have a market place for all type of loans
Consumer loan
Car loan
Real estate loan
but also instant loan (Lydia french fintech in already doing it, it’s a capped instant loan payable in 3times)
I want you to disturb the loan market
Vaults and Saving account
- ability to make a payment or a transfer directly from the vault
- a Real saving account, that a problem for me, why the money is sleeping in the volt without making interest, if you can not do it partner with some else ( Monzo is already doing it with GETCHIP), it could be good to have a market place of Saving accounts
Revolut Trading
I want a real Wealth and trading Platform, not only a securities account
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include all US stock not only 800
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Include all European stock
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include Asian stocks
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include Fixed income, ( be innovative, include CFD on it, as we can invest as little as 1€)
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ETF, and leveraged ETF ( ETF x 3), not only for stock but also for bonds, commodities, index, industries, with difference provider (vanguard, blackrock, amundi …)
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Include Derivatives ( option, turbo, warrant, structured product, autocall…)
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Include Mutual Funds from external provider ( pimco, blackrock, rothschild …)
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Ability to put order in a new IPO
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Ability to short stock in all market
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margin Trading in different currencies, with a reasonable price with stocks as collateral
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remove the limit per order, not only capped to 1000$
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limit order in both direction, to sell or buy stock at certain level automatically
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securities account transfer, i want to transfer all my shares to revolut with reasonable price
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W-8BEN for us dividend
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following the last RevRally, ISA account in coming, but not Only for UK, i want to have French one ( PEA and PEA PME)
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a robot investing or autopilot
with 5 option :- Very conservative (10% equity 90% fixed income)
- Conservative (30% equity 70% fixed income)
- Balanced (50% equity 50% fixed income)
- aggressive (70% equity 30% fixed income)
- Very aggressive (90% equity 10% fixed income)
If you re not able to do it, partner with someone else, example in the US, Qapital.com is doing really well
For the design of the trading part, its should be completely changed, we need more information
ok News and stories in good but we need more data, i need financial report, consensus, estimates
Robinhood is doing it
As usual if you can not do it, partner with someone else, Atome finance is for free and they are really good
Support
A real support By phone, not only with chat, i know it taking time, u re recruiting people in Portugal, but its time to have a real support
WEB access
I can not understand why an official web access is not available,
suppose a i lose my phone, how can i do
Cash, top up
- i want to have the same service as cash26 or Barzahlen
- as we start on-boarding Asian and american user, ability to top up with american express card or Union pay
Insurance
- i do not understand why we don’t have same feature as N26, insurance for the phone, cash withdraw must be included in the Metal subscription
a gadget insurance ( including phone, laptop, ipad …) and personal civil insurance, that must be included the metal plan - Create a marketplace for Insurance :
Car insurance
Home insurance
and why not life insurance
that all for me, i really want revolut to be the bank of the future, let make it
tchussss
Achraf
17 Likes
Prepaid cards actually have benefits when used outside of the local country; visa blocks DCC on ATM withdrawals and MasterCard fully blocks it on Maestro/MC ATM withdrawals and POS system.
Bunq’s credit card is stupid and isn’t a product I want any bank to copy
It has no protections of a credit card due to the fact there is no credit agreement, so it’s just a debit card with a shiny label that says credit
It is unlawful for merchants to refuse SEPA IBAN’s, thus it seems counterproductive for Revolut to subsidise their breach of the law
As such I suggest Revolut set up a team that works with each country’s regulators to have merchants forced into accepting foreign IBAN’s as they’re legally obliged to do
TransferWise if they plan on doing this preferably - honestly just use them in general
Revolut SWIFT transfers are sent in a way that doesn’t prevent the receiving bank from charging fees, when they really should be
30 day free overdraft? Literally never seen that offered on an account besides student ones
I think what’s more reasonable is to ask for waived fees if an overdraft‘s fees is only £0.20 or so
The problem with Monzo doing this is they typically take a cut of what you would get if you went directly to whatever company they’re partnered with
I would say Revolut should charge fees and stipulate in the contract that they must offer the same deal as going direct, if they want to offer it on Revolut’s platform
Aren’t IPO’s normally for multi-millionaires?
They already have this
Visa and MasterCard are pretty widely available in all territories Revolut is launching in? I wouldn’t mind American Express top-ups but what would that even bring? Besides a cash purchase fee and massive interest payments
Revolut isn’t N26.
Insurance for phone would be nice, but if I remember right N26’s insurance wasn’t cream of the crop
N26’s cash insurance is only applicable to Germany and a few other countries, because they’re cash intensive; cash withdrawal insurance for a user in the U.K. or France seems relatively useless from my experience in using card in both countries
Gadget insurance? You’re not going to insure your laptop, iPad and phone for 15€ a month and get all the other features…
Personal civil insurance? Never ever have I saw this included in an account
@Recchan: Fully support this wish, for all Revolut cards, as it’s still not implemented 100%. Getting DCC prompts now and again on SIX terminals in Switzerland asking to choose between GBP and CHF. Both Maestro and MC have this problem. Don’t know about Visa, I only have a virtual one and online I get asked for DCC with that one as well sometimes.
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You need to make Revolut aware so they can report it to MasterCard
Personally, I’ve not had issues since it has become part of MasterCards acquirer agreement; at a lot more than 6 terminals and in Paris where you’d expect DCC to be used heavily, to screw tourists
I don’t believe it applies to online transactions as those already have to have optional DCC AFAIK
at we can use it with rental car company
you right, it’s illegal but we still have this problem
for EUR account, its really common to have this term condition due to negative interest rates
no no, im not millionnaires, but time to time im participating to IPO
never see it, i paid full tax on my US dividend on revolut
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Get a credit card - Bunq will not be rushing to help you if anything goes wrong
It’s not for Revolut to compensate for unlawful business practices - simply inform the place you’re going to report them and do it. To make the eurozone viable this must be done.
Maybe it’s U.K. only at the minute then, I definitely filled it in
they do it, need to be completed in all EEA and in multiple currencies at least GBP EUR and USD
2 Likes
You won’t ever get rates of 1.35% in EUR, in all honesty. Not in the current financial climate of the EU anyways
Also, their partner bank is British, so this has obviously been a case of trialing it with a partner in the market they have the most experience in. You might see us getting EUR/USD ones as they expand and work kinks out in new markets.
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I’m seeing a huge gap between metal subscription across all markets.
Pretty much in EU every single major reason to upgrade to metal doesn’t exist.
No perks, no loans, no saving vaults, deferent lounge prices and after all we pay the same monthly fee.
The irony: They have a bank license in Europe but not in UK.
2 Likes
Don’t get hung up on perks. Even in the U.K. where we have them, they’re mostly for services related to travel, some of which (actually quite a few) don’t operate in the vast majority of the country with the others being national or multinational brands who have the exact same discount offered outside of Revolut anyways
Their loans aren’t particularly amazing and aren’t a Metal feature at all
Considering the interest rates in the eurozone you’re not going to get 1.35% interest anyways, you’re likely to get barely anything and it’s not even that great a feature here
Understandable complaint - I don’t get it either. We do pay £20 now and not £15, which works out as probably 4€ cheaper than the 28€ I believe eurozone countries pay
That’s not true, some countries pay more and some less
What irony? They don’t use the banking license anywhere despite having it
Why, no idea, but the fact stands all of Europe is served by the electronic money institution, not the bank
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So, what’s better? To have all these small “improvements” or not?
According to Recchan better to keep silence and enjoy incredibly perfect perks which are exist now. It seems we have no rights to ask or even discuss possible improvements.
2 Likes
There should be different way to look at this. I mean, for me as person who don’t fly abroad often, there should be different benefits as for person who will use these things… I think there should be 2 plans, one for moving around world, and other one with benefits focused to everyday usage at home country (maybe some discounts, no weekend fees etc… just replaced that travelling features with more useful ones). 2nd part to be about cards, there should be ability to have premium/metal card without subscription, but for one time payment, let’s say 10eur for premium card and 18 for metal. I would like to have metal card, because plastic are bending and later cracking in my wallet (I don’t know why).
so if you are going to order new card, first should be menu where you pick up type of subscription (free, traveling or domestic) with some prices, then menu to add advanced subscription options (benefits) for some stacked price to first one, and 3rd menu to pick which card you want (on free plan, there will be one time payment for cards and with subscription you will have slightly increased price with premium/metal one)
3 Likes
Did you read the post? I said that their perks suck in the U.K. and we need them to learn how to get it right before they start pushing trash into each country
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@RevolutStaff this is a joke when you give us 0,1% cashback while Casino Banque gives 1% cash back on all purchases out of CDiscount and Casino market …
Please can you be kind with us and put 1% for everybody ? because 0,1% is a freaking joke … And please don’t tell us this is impossible 
Best ,
Alex
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It’s surely possible, but is it sustainable?
Make a rough guess what providing the account costs with all things considered that are included in Metal, insurances, airport lounges, express shipment for cards, metal cards itself, ATM fees … feel free to make assumptions about average use here, not every Metal customer actually orders 2 cards per year just because they can.
Then take the yearly price for Metal, minus what you just calculated.
Then consider that Revolut earns 0,2% with every card payment you make. Do you top up your Revolut account with another credit/debit card? Consider that Revolut pays merchant fees in this case. To make it simple, we can ignore that merchant fees are more than just interchange. (Scheme fees, payment processing, acquiring, and interchange). So just stick to interchange, which is 0,2% / 0,3%. Just go with what you think is a reasonable assumption about the fees Revolut pays here per year in case you use card top ups.
Then calculate what cashback you would earn over the year if Revolut would pay you 1%.
Then see what’s left from the fee you pay for Metal and consider for yourself if you think that’s a convincing business model.
Perhaps you could let us invest in you Revolut As you are not listed in the stocks we are given the choice of buying
I think they can afford it now, in all honesty.
They make 2% from non-EEA markets and have launched in Singapore/US. So they can cross-subsidise with that and then stop cutting us short, considering the US/SG/AU will all get 1% everywhere
2 Likes
Latest published numbers show that they are still burning money, which they are supposed to in this phase. And they are still going to burn money by the end of this year after interchange from outside EU is considered. Running the business itself is just too expensive, and that’s where a substantial part of card related income goes to. Especially with the basic product being free, fees on that side will never add up to subsidise this.
And the problem for them would be that big spenders in EU become the most costly customers for them. Customers in the US would be cost neutral to a certain extend, whereas in Europe, they won’t.
That’s why I am coming back to saying it’s more about what’s sustainable in the long term and not what they can afford.