It seems that Revolut is applying more strict rules in their KYC policy and block many accounts and request source of funds and more. Also their customer support seems to be overloaded and not very cooperative.
If you use Revolut be sure that your email or phone number is registered as that causes also many issues as the payment cannot be sent to a non registered email.
Also never use debit card or credit card for sending the funds! That would open up high risk for chargeback! I am surprised that this can be done at all in Revolut.
I am not familiar with Revolut payment links but seems that this is also less secure than using a registered account.
Anyone with more experience regarding Revolut?
If problems continue or become worse we need to deactivate Revolut in Bisq.
Revolut is kinda sad. The app wants access to contacts on the smartphone, whithout which you can’t send payment to anyone. Only after you share your contact list with the app can you transfer money to your bisq counterpart and since you only know the email or phone nr the name is some bogus string that has nothing to do with real name of the trade partner.
I had less issues with payment links than with transfers but it’s up to personal pref. of each user. I mean I’d rather keep making payment links and not disclose contacts but it’s too late for that. One fine thing is the speed though.
It’s funny because my account got frozen without comment and shut down without even me having a chance talking to support during the exact period when their automated flagging system was shut off.
Government oversight of payment gateways on legacy banking systems in the name of AML/KYC and the war on terror will soon remove all competitors from payment innovation until only the government/corporations are left processing transactions.
In the end, Revolut was successful because they made it easy to get and keep a payment account. So easy it was against the law.
Wow! I did not know that! That is pretty nasty / evil! Considering to request to remove Revolut just for that reason. That is privacy abuse a la Facebook.
Yes its a fight of Banks against Fintech using the regulators as weapon. Reports with issues on Fintech companies increase. Just shows that the revolution will not be centralised.