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Revolut Transferwise N26. How safe are they?

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arbusers
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Re: Revolut Transferwise N26. How safe are they?

Tue Jan 12, 2021 1:17 pm

Revolut applied for a UK banking license. The process could take up to 2 years, but it seems to me they already made a lot of progress.
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Re: Revolut Transferwise N26. How safe are they?

Wed Jan 13, 2021 11:01 am

Blackoutt777 wrote:
arbusers wrote: Revolut has confirmed that it has suspended all payments to and from UK gambling sites, transacted through its app.
Basically, they are considering a Revolut account as a credit card. Terrible news for Revolut users betting on UK sites  :(

If a country where betting is so popular made such a decision I wonder what's going to happen with N26... In march they introduced a 3% fee on gambling (it is not clear whether on deposit or withdrawal transactions).
Of course, Germany it is all another thing when it comes to keep making money and probably will let people keep using their N26 accounts for gambling even though on non licensed sites.
I think N26 will not care.  The transaction amounts must be quite noticeable in order for them to start asking questions... The 3% is basically for them to let you use the N26 solely for gambling so N26 can profit from you.  But for me personally, all the money that comes to my N26, is not formal. So either other people are sending money or withdrawals from bookies accounts. So, so far seems ok.
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Re: Revolut Transferwise N26. How safe are they?

Wed Jan 13, 2021 12:50 pm

N26 will give you some action for depositing and withdrawing from sports betting &casino sites but they will close your account any day without giving you any reasons like any other online bank when you use it for gambling.
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Re: Revolut Transferwise N26. How safe are they?

Wed Jan 13, 2021 7:50 pm

autobetting wrote: N26 will give you some action for depositing and withdrawing from sports betting &casino sites but they will close your account any day without giving you any reasons like any other online bank when you use it for gambling.
Interesting.. any examples to give out? I had my account with them for couple of years now. Any "normal" bank would have investigated it already but not N26. And as i mentioned, only transactions from other people + gambling.
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Re: Revolut Transferwise N26. How safe are they?

Thu Jan 14, 2021 7:26 am

What's the standard KYC at N26? They're not available in my country (EU)...
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Re: Revolut Transferwise N26. How safe are they?

Thu Jan 14, 2021 7:55 am

Hi all,
I think my issue would fit this topic.

In the near future i will move to another country and later i will have to convert some of my money into their currency. What do you think, how can i convert it with the less loss on fees? i will need to convert at least 30-60k euros worth of my currency into the new currency (i have it in cash).

Currently it seems that Transferwise has the best convertion rates and fees, but are there any easier and more sofisticated ways to transfer and convert bigger chunks of money without any attention from the side of banks ? i'm not in need of uncomfortable questions :))

Thanks in advance if anyone has some idea
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Re: Revolut Transferwise N26. How safe are they?

Thu Jan 14, 2021 8:56 am

I believe Transfewrise and Revolut are unbeatable in this market. But that doesn't mean you will not receive uncomfortable questions from these too. You will definitely receive questions if the amounts grow big.
Since you are already in cash as you say, how do you intent to upload these funds in the accounts?
Depending on your country and your currency, you might find a solution where you exchange cash for cash.
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Re: Revolut Transferwise N26. How safe are they?

Thu Jan 14, 2021 9:03 am

arbusers wrote:
you might find a solution where you exchange cash for cash.
i'm afraid this is the least complicated option, but unfortunately seems the most expensive one.

Thanks for the reply
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Re: Revolut Transferwise N26. How safe are they?

Thu Jan 14, 2021 10:06 am

arctrading wrote:
autobetting wrote: N26 will give you some action for depositing and withdrawing from sports betting &casino sites but they will close your account any day without giving you any reasons like any other online bank when you use it for gambling.
Interesting.. any examples to give out? I had my account with them for couple of years now. Any "normal" bank would have investigated it already but not N26. And as i mentioned, only transactions from other people + gambling.
Are you using N26 to keep money on it as a normal local bank account? Or just to withdraw from bookies and take money to ATM? Thanks
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Re: Revolut Transferwise N26. How safe are they?

Tue Mar 01, 2022 1:27 pm

I am sorry to ask once again. But is Revolut safe these days?
I know founders and owners are Russian. How do we know they are not cut off from the banking system?
Thank you.
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Re: Revolut Transferwise N26. How safe are they?

Tue Mar 01, 2022 1:42 pm

neopas wrote:
Tue Mar 01, 2022 1:27 pm
I am sorry to ask once again. But is Revolut safe these days?
I know founders and owners are Russian. How do we know they are not cut off from the banking system?
Thank you.
Revolut does not use a Russian bank account. So it is safe. But not for betting. They dont like betting transactions. It may take some small transactions before they freeze your account.
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Re: Revolut Transferwise N26. How safe are they?

Tue Mar 01, 2022 1:57 pm

I believe Revolut is safe. There are 2 co-founders, one is Ukrainian (Yatsenko) the other is British and Russian (Storonsky). I doubt Storonsky will be included in any list, and I hope he wasn't in Russia to be locked up like the other billionaires.
Revolut has a UK license also, so the danger is minimal from a geopolitical point of view.
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Re: Revolut Transferwise N26. How safe are they?

Sat May 07, 2022 9:07 am

mayertom wrote:
Thu Nov 07, 2019 10:24 am
I absolutely agree with everything - I wouldn't trust them with big amounts. They have some sort of license but are not a proper e-wallet or bank for sure. Supports is not the easierst to reach live, I can tell you, and I also know a first hand information from a friend that once he received a withdrawal from a bookeis on a Revolut account, they reached him and started asking questions where he got his money from and he was forced to change to Neteller.
Hello all, i have a friend who as a n26 personal account wit a large amount inside and e keeps this account for at least 2 years and suddenly n26 closed his account without any warning.Does anyone know what can do to take his funds?

Thank you in advance for your response.
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Re: Revolut Transferwise N26. How safe are they?

Sat May 07, 2022 9:41 am

The information you provide is very general.
What is the correspondence between them?
What is the amount of money he keeps in the account?
What are the reasons your friend suspects that closed his accounts,
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Re: Revolut Transferwise N26. How safe are they?

Sat May 07, 2022 11:09 am

arbusers wrote:
Sat May 07, 2022 9:41 am
The information you provide is very general.
What is the correspondence between them?
What is the amount of money he keeps in the account?
What are the reasons your friend suspects that closed his accounts,
the amount that is closed is 25k euros. the account closed suddenly without any warning or reason of closure and now he cannot log in in order to ask to receive in another personal account is funds. He sent a lot of emails but not response from n26.He escalated situation to authorized corporation.

Does anyone have a similar experience? what is he supposed to do to claim is funds?

Thank you in advance.

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