What are the security concerns and user experiences with Revolut in Thailand?

Revolut Financial Services Customer Service Security Issues Account Management Thailand Expats Wise Banking in Thailand

Oct 15, 2024

a month ago

ORIGINAL POSTER

I believe many members in this group use and advocate for Revolut?

This is a pretty good story of how security goes wrong.  Certainly the victim could have done more to protect themselves but it sounds like Revolut did next to nothing to protect it's customers.  

Most certainly any financial service provider should have some security with new accounts and the number of transactions/payments within a period of time.

They save you money because they reduce expenses... Security is apparently one of those expenses

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TLDR : Answer Summary

The post discusses concerns regarding the security and customer service of Revolut, particularly in Thailand. Various comments highlight issues such as account closure without explanation, poor customer service, and additional fees for currency conversion. Users recommend alternative services like Wise and First Direct due to their better reputations and experiences. The discussion emphasizes the importance of being cautious with financial service providers and protecting personal information.

Andy **********

Quelle surprise 🤔

a month ago

Janelle *****

Hmm I’ve never had an issue with revolt

a month ago

Bo **********

What you get wen you dont use a Bank... Dont fell sorry for thes ppl

a month ago

Ben ***************

I use First direct (part of HSBC) when I go abroad (coming from UK) , they have no fees and they use the MasterCard, saves carrying British cash around and have the risk of them not accepting it.

MasterCard's current rate is 43.60 - TT is currently 44.2 so there is some difference but I prefer not carrying cash around.

a month ago

Peter **********

Revolute only have a provisional Banking Licence in UK which may now be removed

Push transactions should always be avoided if possible

a month ago

Ian *********

wise best and cheaper and ive never had any issues with scammers . revolut needs get their act together and look after their customers .

a month ago

Tore *********

I don’t see many advocating for revolut in Thailand seeing as they charge extra for Baht conversion as they consider it a “small and illiquid currency”. May have changed, but used to be a couple years back at least. They also have bad reputation for suddenly closing accounts without good reason with bad customer service,

Most and me as well recommend Wise for Thailand.

a month ago

Thaimer ******

@Tore ********

well you’re clearly out of date. They stopped that long time ago. 1% for baht

a month ago

Tore *********

@Thaimer *****

Alright, it used to be 2%. And double over the weekend. I just compared, Revolut still more expensive though. For 1000 eur you get about 200 baht more using wise. (And Wise safer as they have formal bank license)

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a month ago

Thaimer ******

@Tore ********

no it’s not. 1% fee is for all currencies over weekend.

It was additional 1% for THB, but they removed that few years ago

a month ago

Tore *********

@Thaimer *****

why you argue this haha. It was definitely 2% + weekend charge lol 😆 It was literally the reason i opened wise.

I’ts good they removed it so it doesn’t really matter. But even stated in their faq they considered Thai Baht a “Low liquidity currency”

a month ago

Thaimer ******

@Tore ********

It’s you that talk nonsense and it’s me correcting you.

There used to be 1% fee for THB + 1% fee for all currencies, so technically 2% for THB and 1% fee for rest of currencies.

Now it’s just 1% for all currencies

2% fee is for ATM withdrawal

a month ago

Reply to

Thaimer ******

Mike *****

We got this same stories from every bank back home. People calling you for info telling ur account is in danger. Rule nr 1: hang up and contact the bank urself. Never give any information.

a month ago

Munly *******

@Janelle ****

a month ago

Reply to

Munly *******

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