Too much money in account

1

I’ve been finding Revolut was so much better than my regular bank account, that I decided to start accepting payments into it. But this has immediately resulted in me having a lot of money on my Revolut card, which I’m not comfortable with (if account is compromised then I risk losing too much).

What is the solution to this? Is there some way to lock money down so it can’t be withdrawn via a card? Or can we get a second account (another thread indicated otherwise).

If I can’t fix find a solution to this, I’ll need to resort to going back to my crappy local bank :confused:

2

Hello, the risk of your account being compromised is VERY low because of the PIN + Phone Number.

The only real risk I can see is regarding the card, but it’s easily managable by seting a monthly limit :slight_smile:

3

Ohhh, there’s a “Freelancer” option here … https://www.revolut.com/us/business/pricing
That’s exactly what I am.

Would this provide a secondary account for me to use?

4

Thanks for the monthly limit tip! That is a good temporary stop gap solution until I can work out a better option that doesn’t require me to keep adjusting that limit all the time.

5

You can also disable withdrawn, contactless payment… there are several options to hardened your card security.

6

My biggest problem is that I use that card willy nilly online. It’s the thing I love about Revolut, as I (usually) keep the amount on the card super low, so I’m not really concerned about just shoving the number into any old website and hoping for the best. There’s no good solution to that other than a secondary account.

I suspect that Freelancer business account option might solve this issue for me though. I’m just unsure if it definitely gives me a secondary account with it or not.

7

You can use Virtual Card for your online purchases ( with a montly limit too ) or, even better a Disposal virtual card :slightly_smiling_face:

Personally here what I do :

  • online purchases = disposal virtual card
  • recurrent online purchase = virtual card with monthly limit
  • physical merchant = physical card, monthly limit, withdraw and online transactions disabled.
8

That sounds like a lot of hassle. I’m signing up for the Freelancer account and hoping it gives me what I’m looking for. I’m still unsure from the information on the site here though.

9

Not really : once set, everything is on track, I rarely change cards settings.

And honestly the Disposal Virtual Card is really great, I sleep better :wink:

I am interested, if you are allowed by :r: to open a Freelancer account and a Personal account, please let us know if it’s possible.

10

Yes you can move money into Vault. Until your money is into Vault you won’t be able to use it.

11

Thanks. I wasn’t aware the vault exists. Unfortunately it seems to have converted my money into euros from USD when I did it :confused: Hopefully that doesn’t mean I lose money converting it back again.

  • HEAD DESK *
    Apparently I was meant to set the currency when creating the vault. Idiot.
12

Please be aware- you can choose the Vault’s currency when you’re creating it.