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When I opened my Revolut account I took advantage of their referral scheme. I would get €15 for every customer I referred to them and who used their debit card.
by DoubleGlazing 7y ago
When I opened my Revolut account I took advantage of their referral scheme. I would get €15 for every customer I referred to them and who used their debit card. The new customers would also get €15. I got five people to sign up, the max.
We never saw the money. When I raised the issue over chat they told me that all my referrals took too long to setup their account and make the first payments. They wouldn't tell me what the time limits was though. Every referral made their first payment within 30 days, so that doesn't seem too long for such an offer if you ask me.
At this point I was using it as my primary account so it wasn't like I was just signing up to get referral bonuses.
This experience made me think they weren't as trustworthy as they claimed to be.
- rchaud 7y agoThe fact that they'd nickel and dime you over a measly 75 EUR is worrying. Customer acquisition for this kind of product should cost far, far more.
- loceng 7y agoYou're thinking too small: if they nickel and dime a million people that becomes 75mm EUR. How many people are going to cause a big enough stink over 75 EUR though individually? Not really anyone, so they could get away with it - maybe if enough people posted similar stories then it would gain interest from enforcement agencies.
- rchaud 7y agoThat's still a million customers who went through the friction of setting up a new bank account, and whose first impressions are now net negative.
- DoubleGlazing 7y agoThey sometimes refer to their referral bonus system as a game or challenge, that says it all really.