Verification and data security


#1

Hi everyone

I am leaving for a 3 year around the world adventure with my wife to be soon and we are looking into various travel cards for our journey. From what i have read so far about revolut sounds pretty great!

My only concern is the verification process. I have been a victim of identity theft before and the trouble it caused was insane! Really something i NEVER want to deal with again and has made me extra cautious when dealing with personal and sensitive information since.

I understand some type of verification may be needed to stop money laundering etc which is understandable. But, seeing as you have to scan your id with such sensitive and valuable information and send a picture that really does sound rather invasive and also an identity scammers wet dream! I am wondering what are these documents used for and what is done with them once they have been received? Are they shared with anyone outside Revolut? Are the documents securely deleted once the verification has been completed or is this sensitive data just sitting on a hard drive somewhere which could be compromised further down the line?

I really do want to sign up but i would want assurance of the security measures in place to stop our details being compromised in any way, especially seeing it is all handled from within an app and to my knowledge there is no way to send an encrypted file or an encrypted self destructed file.

Hope you can help me out , its really appreciated! Thanks!!


#2

The just have to make sure someone is ledgit to open an account (residency) and that one can proof ones identity. I am not aware of a bank that would not ask for a copy of an ID. In a bank branch, they would take a copy of ones ID. And all the banks that do live video identification ask for consent to take screenshots when one presents an ID during the process.

I would also assume that banks have to keep these proofs of identification on record. To have a signature sample, for example. My Bank even asks me from time to time to update my ID if it is expired.

I totally understand that you want more confidence about how Revolut is taking care of data security, but their identification process alone does not seem overly extensive to me.


#3

same here, it seems a pretty standard verification process; all banks do the same.

The real problem is the “verify source of funds”, where the information required is a lot more than what is usually required by banks, for no particular reason.