Revolut Free Trading Tweet? 🦅


(Big Boss) #195

I really enjoy using Revolut but they are terrible at managing expectations. Just read the comments in the tweet, it’s jokes.

I was at a conference today where their Head of Mobile presented. When quizzed about their stockbroking platform, it sounds like they are still working on their features for basic, premium and metal (for example, the number of free trades increases as you go u the tiers).

Tbh, it sounds like they are some time away from releasing something.


#196

To be fair, I think it’s pretty apparent that managing expectations is a struggle for Fintechs in general.

Also, I am cynical that Revolut have their eye on Freetrade’s soft launch and so I don’t think that tweet is coincidental to have come so soon after September 18.


#197

where is this from? have you got a link


#198

R3 Investor Deck. No links as it’s restricted access I’m afraid.


#199

So it looks like Revolut are showing their fear of Freetrade:

https://twitter.com/dosorioalvarez/status/1064552580800499714?s=21

Well done Freetrade, you’re clearly doing something right. This is why I don’t like revolut, their product is irrelevant to me because their leadership and culture is petty.

Freetrade cares about your wealth, Revolut cares about its own (in my opinion of course).


(Emma) #200

For people not on twitter, the reply is :joy:


(Chris) #201

Couldn’t agree more. There’s a nasty edge to them.


#202

Disgusting behaviour from Revolut. How petty and desperate!


(Dave Smith) #203

Obviously a bit thick as well if he thought no one was gonna notice that :smiley:


(Rob N) #204

Not particularly clever! 4 out of 5 of his last posts were promoting Revolut :roll_eyes:


(Andrew Clark) #205

I signed up to Revolut due to FOMO during the crypto run earlier this year. Quickly learned my lesson. Leaving them is really hard and I now pay 6.99 a month for the privilege. Hard to see their offering as free when we’re paying for the app.

Monzo has a close your account button while Revolut has a lot of friction to leave which, to me, is cynical given how easy it is to sign up.

Not a fan.


#206

He might have been duped into posting this. I wouldn’t be surprised if he’s not a actual employee yet, there’s been reports of ‘unique’ requirements for applicants, and the reports of burned out workers


#207

Like I said, I don’t care how good their product is (or isn’t, I haven’t tried it) I refuse to reward bad behaviour.

It’s the reason I never use Starling but stick with Monzo, some say the Starling app is slicker - so what! I want to do business with a company I respect.


(Emma) #208

:point_up: A million times this


(Aris David) #209

Good thing I cancelled my Revolut.

Better alternatives out there.
Monzo
Transferwise Borderless Account - I like this actually.


#210

I agree!

You would think they would calm down while they go through the FCA process.

Guessing the daily Freetrade rollout riled them. The only answer is to rollout faster.


#211

Just out of interest, what’s the issue with Starling? I haven’t dug into their corporate culture, but really rate their product (which I only use for travel to be fair). Considering switching my business bank account to them as it would save me at least £300/month. Am I missing something?


(Emma) #212

Lack of transparency, closed their forum down with no notice possibly because the users wanted answers to questions, legacy bank with a shiny app.

Nothing shady about them as a company though and good reports about their business accounts


#213

Thanks Emma, given that my business bank account is with NatWest at the moment, I think it’s worth a shot!


#214

Agreed nothing shady (to my knowledge), I’m sure they are legit and safe. My problems are more about leadership and culture:

  • Closed their forum, effectively stopping the conversation and admitting they don’t care about customer feedback.
  • No share options for staff, so as Starling grows Anne gets rich but the staff don’t benefit from the rise.
  • No opportunity for others to invest (unlike Monzo and Freetrade, and even Revolut).
  • An obsession with Monzo apparently (though this is second hand to me so take that as you will).

Ultimately they just don’t feel like they are in the game for the customer, they just want to enrich themselves (not even their staff!).