Well, I do understand company needs to make a profit and pay its expenses and all that. But that is not my problem. As a consumer I was lured in by promises of free ATM withdrawals, no currency exchange fees and free international money transfers. I did not tell Revolut to offer this to clients, they did it themselves. I accepted the offer and now that I am “IN”, they keep changing fees, adding condition and all that. So now, the three main reasons I joined for are gone or at least largely gone.
I would have much more respect for the company to either keep the original promises to clients that joined 6 years ago when promises were made,…or to not make such promises and then underdeliver. If they said in the beginning that withdrawals for 200 EUR are fee, and SEPA payments only will be fee,…I would have joined and lived under those promises, but I just hate the changes all the time.
When I joined Revolut I was able to take 1000 USD out of ATM in USA and pay my friend in Hong Kong. Last year I was only able to pay my friend in Hong Kong but ATM withdrawals were limited, and this year all I can do is pay my electricity bill for free in EU, the rest of it is gone. So its not fair and it’s not clear, as I cannot follow new T&C every time I leave the house to know how much I will be charged for each service.
This is what is most frustrating.
To conclude, what attracted me to Revolut their promise to disrupt banking that despite having money stored there, they charge you for every little thing. And I supported the movement of disrupting banking. But now…I don’t know how exactly does Revolut plan to disrupt anything…what are they going to say…you local bank charges you 6 EUR for transfer, and because we don’t have employees and branches and the rest of the infrastructure, we are only charging you 5 EUR. Great…but 1 EUR difference is not disrupting banking.
I guess what bothers me the most is that this disruption movement is dead.