Revolut, are they really protecting you?

CityRedAmber

Revolut has currently froze any transfers going out or coming into my account.
Screenshots have been provided from all accounts to prove it is myself making these transfers 
After 14hrs of being on the support, they have now asked for this below!!!
Any advice?
I have asked if this is their policy, their reply was “we need your selfie”

Thanks for your patience while we continue to resolve this issue for you. We apologize for the inconvenience this has caused, but we do our best to ensure customers aren’t guided into scams. To complete our customer protection process please: Hand-write this on a piece of paper: “Revolut warned me this is likely a scam; I confirm that I am not being guided and understand the limited fund recovery possibility if I proceed.” 

Take a selfie holding the paper with your face, the hand holding the paper and the note all visible and submit it to this chat. Thank you for your cooperation.

CityRedAmber

Would Revolut really ask for a selfie?

TheBanker

CityRedAmber said:

Would Revolut really ask for a selfie?

Possibly. They are the most complained about payments firm to the FOS for fraud, and there seems to be some kind of issue with the way FOS are decisioning the complaints. 

https://finance.yahoo.com/news/revolut-fraud-payout-row-leaves-165729182.html?

Perhaps they think the selfie with the disclaimer will be sufficient to defend their position with FOS.

eskbanker

CityRedAmber said:

Would Revolut really ask for a selfie?

Sometimes, yes:

https://help.revolut.com/help/sign-up/why-do-i-need-to-submit-a-selfie/
https://help.revolut.com/help/sign-up/how-do-i-upload-a-selfie/

Haven't heard of the writing a waiver out like that though, and unsure that such an approach would 'stand up in court' as it were - where are you trying to send money to and how confident are you that you have the right details, etc?

My understanding is that Revolut haven't signed up to the CRM code protecting against APP scams anyway, so I'm not sure what specifically they think you'd be waiving?

TheBanker

eskbanker said:

CityRedAmber said:

Would Revolut really ask for a selfie?

Sometimes, yes:

https://help.revolut.com/help/sign-up/why-do-i-need-to-submit-a-selfie/
https://help.revolut.com/help/sign-up/how-do-i-upload-a-selfie/

Haven't heard of the writing a waiver out like that though, and unsure that such an approach would 'stand up in court' as it were - where are you trying to send money to and how confident are you that you have the right details, etc?

My understanding is that Revolut haven't signed up to the CRM code protecting against APP scams anyway, so I'm not sure what specifically they think you'd be waiving?

I doubt it would - or at least not with FOS. My bank has had (non-CRM) cases upheld by FOS even where we have invoked the Banking Protocol and the police have attended and warned the customer that they are being scammed.

Revolut are not part of CRM, although that becomes academic once the new reimbursement regulations take effect later this year, so perhaps they're getting ready early? And as per the link I posted above, there seems to be some disagreement between Revolut and FOS. Even as a non-CRM organisation, FOS could still be upholding complaints using their 'best industry practice' and 'fair and reasonable in all the circumstances of the case' mandate.

badmemory

CityRedAmber said:

Hand-write this on a piece of paper: “Revolut warned me this is likely a scam; I confirm that I am not being guided and understand the limited fund recovery possibility if I proceed.” 

Take a selfie holding the paper with your face, the hand holding the paper and the note all visible and submit it to this chat. Thank you for your cooperation.

I have to be honest here & say that if someone asked me to do this I would be thinking they are working a scam not trying to prevent one.

Phoenix72

Pretty sure I read a similar story a few months ago

CityRedAmber

They have sent this this morning, can’t seem to find anything within their policy or online regarding this.

northwalesd

If a bank asked me to do that it would be my last dealing with them.

400ixl

Revolut and ethical are rarely seen in the same sentence with a positive connotation. They are not a bank and keep getting turned down for a license.

badmemory

Have you heard the one about if it seems too good to be true it probably is, well to my mind the same thing applies here.  If it seems to be too dodgy to be true it probably is.  Maybe not dodgy precisely but unethical & their way out if anything should go wrong.  But then I am known for being both cynical & paranoid.