Revolut pre-paid Mastercard

Revolut_Official

Hi Flyify,

Good question!

We make money when people use our card. When accepting card payments the merchant is charged a small interchange fee and we collect this (the global average is 0.8%).

Flyify wrote: »

Where do revolut make money?
There doesn't seem to be any mention of charges anywhere.

I did come across mention of a 1% fee somewhere, is that the only fee?

Revolut_Official

Hi chrisb1357,

Can you please tell us which bank you are topping up from? This will help us resolve the issue.

chrisb1357 wrote: »

Then you have the issue I have today trying to load money onto it. Not good for a first attempt so am looking for another card to use instead and will not use this one.

christaitfife

I have used the card in Spain and it worked like it should. I have also used it in the UK a few times. I'm heading to Greece in a few weeks and have no reservations in using it.

eDicky

Revolut_Official wrote: »

Hi eDicky,

Revolut has been available in private beta for a few months now, although we only became publicly available a few weeks ago.

We apologise for the delay of your card, the huge order volumes have caused some delays, however we will be back on track for 2 day delivery soon.

If you need an emergency card urgently then contact our in-App support chat and we'll arrange a card for you.

Thanks for that, I'm on daily travel standby but I'll let you first take care of others who urgently need their card issued.

Regarding the verification process using the app, I am curious about this. When I capture the image of my passport I am then requested to use an NFC equipped device to read my passport chip, because mine is detected as not being one (I think it is). Then 'next' I am directed to capture the image of my face, looking directly at the camera lens. I have not yet proceeded further.

Normal ID verification for bank accounts and cards requires simply the passport image, so can you please clarify why Revolut is capturing personal biometric data including facial recognition in this way, how it will be used including purposes other than identity verification, and whether the data will be retained and stored by Revolut and if so how?

TIA.

chrisb1357

Hi

I was trying to top up using a CoOp Visa Debit Card for my CoOp Cash Minder Account.

Chris

Revolut_Official wrote: »

Hi chrisb1357,

Can you please tell us which bank you are topping up from? This will help us resolve the issue.

Revolut_Official

Hi eDicky,

Thank you for being patient

As a new technology we want to to extra measures against fraud and money laundering and therefore require additionally information to minimise risk.

We only use facial recognition to identify our users and if necessary aid authorities when dealing with criminal cases.

All data passed between Revolut mobile apps, our servers and third parties is 2048-bit SSL encrypted.

eDicky wrote: »

Thanks for that, I'm on daily travel standby but I'll let you first take care of others who urgently need their card issued.

Regarding the verification process using the app, I am curious about this. When I capture the image of my passport I am then requested to use an NFC equipped device to read my passport chip, because mine is detected as not being one (I think it is). Then 'next' I am directed to capture the image of my face, looking directly at the camera lens. I have not yet proceeded further.

Normal ID verification for bank accounts and cards requires simply the passport image, so can you please clarify why Revolut is capturing personal biometric data including facial recognition in this way, how it will be used including purposes other than identity verification, and whether the data will be retained and stored by Revolut and if so how?

TIA.

Revolut_Official

Hi chrisb1357,

Can you please send us an email to support@revolut.com with the number you used to register so we can look at the transaction details and get to the bottom of it?

chrisb1357 wrote: »

Hi

I was trying to top up using a CoOp Visa Debit Card for my CoOp Cash Minder Account.

Chris

eDicky

Revolut_Official wrote: »

Hi eDicky,

Thank you for being patient

As a new technology we want to to extra measures against fraud and money laundering and therefore require additionally information to minimise risk.

We only use facial recognition to identify our users and if necessary aid authorities when dealing with criminal cases.

All data passed between Revolut mobile apps, our servers and third parties is 2048-bit SSL encrypted.

I have no objections to the use of these technological advances for AML and anti-fraud security purposes, apart from concerns about secure storage of the data. But assuming that a Revolut user will be tracked, their location, preferences and other data analysed and provided to third parties for targeted marketing, I am concerned that facial recognition and other personal biometric data captured during the verification process will also be passed to such third parties.

There is currently a lack of any laws or code of conduct relating to the gathering and use of facial recognition data by private companies. US senator Al Franken, father of an old friend of mine, has been raising this issue, as well as watchdog groups in the UK:

http://www.bbc.co.uk/news/technology-33736385

Most of us are used to having our personal details and preferences etc shared and sold on, but biometric images and passport details are a new dimension Therefore could you please identify the third parties that you mention, the uses to which this sensitive personal data will be put by Revolut and by these third parties (apart from security processes), and any assurances that data storage security cannot be breached.

Danv38

I was also given the impression the card would arrive within 2 days upon application. Having not received it 1 week later, I contacted Revolut and was, on Saturday, given the choice of one-day delivery or office collection. Because I'm off early tomorrow morning, I contacted Revolut by phone, email and sms yesterday to take up either option but have yet to receive a reply. I appreciate things must be hectic but why give the option and then go silent? Annoyingly I'd already begun topping up the card and exchanging to euros.

Revolut_Official

Hi eDicky,

We are not giving any information to third parties for marketing purposes. The only reason we provide information to third parties is for fraud prevention. If this were to change we would always notify our users.

eDicky wrote: »

I have no objections to the use of these technological advances for AML and anti-fraud security purposes, apart from concerns about secure storage of the data. But assuming that a Revolut user will be tracked, their location, preferences and other data analysed and provided to third parties for targeted marketing, I am concerned that facial recognition and other personal biometric data captured during the verification process will also be passed to such third parties.

There is currently a lack of any laws or code of conduct relating to the gathering and use of facial recognition data by private companies. US senator Al Franken, father of an old friend of mine, has been raising this issue, as well as watchdog groups in the UK:

http://www.bbc.co.uk/news/technology-33736385

Most of us are used to having our personal details and preferences etc shared and sold on, but biometric images and passport details are a new dimension Therefore could you please identify the third parties that you mention, the uses to which this sensitive personal data will be put by Revolut and by these third parties (apart from security processes), and any assurances that data storage security cannot be breached.