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Comment by Robin_Message | Hacker News Reader

Out of interest, do you feel so strongly that money laundering should be prevented that you are unwilling to do business with a company that might be not doing enough to prevent it?

If not, what is it that Revolut has done according to this article that makes you want to quit?

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Nothing to do with that. It's because of this: https://twitter.com/phillipcaudell/status/110108122935141580... and how the company operates. Not something I want to support.

Oh I see, fair enough, that makes a lot more sense! Good on you for taking an ethical stance and good luck actually cancelling.

In addition to the ethics, I'd be very concerned about being a customer of Revolut in the future.

Once they stop buying market share, this attitude toward others is likely to apply to their customers as well.

Wow he really comes across as someone who doesn't know how to lead.

He’s a boss not a leader. Fear and intimidation is a great way to keep churn high so people will give up their stock :p

I'm not the OP, but if you're interested in criticisms of Revolut, here's a complaint/rant letter (yes, physical letter) that I sent to them half a year ago: https://pastebin.com/L507bvf7

Great letter. How did that go, did they reply to your satisfaction?

They gave some justifications for my complaints and apologized. They let me cancel my Metal plan without deducting the cancellation fee, as per my request. They sent me a copy of all my data as I later requested, and deleted my account.

Revolut is not insured by FSCS, the standard UK deposit insurance scheme (because it's not a "bank", it's "something something digital").

They say all money is parked in a trust account at a regular bank in Lithuania. But I wouldn't want to be involved in testing how well that setup hold up in court.

Revolut has the same Electronic Money license in the UK as TransferWise, meaning that the money is parked at a regular bank in the UK, but not under your own name. However, Revolut received a banking license in Lithuania in December 2018, and should soon start operating as a normal bank with the standard 100,000€ insurance, demanded by the EU. Yet, if Revolut failed at some point in the future, it's unclear how the Bank of Lithuania would be able to cope with the liability, since Revolut already has more users than there are people in Lithuania[1].

[1] https://www.theguardian.com/money/2018/dec/22/lithuania-icel...

Cats Protection has a story to tell about Kaupting.

https://www.dailymail.co.uk/news/article-1076303/Cats-Protec...

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