Revolut from Germany to Indonesia. Bank or app?

[snpark]

All I'm saying is be wary of using Revolut

We all have transfers get stuck or slow with correspondent bank but at least we know or we've been told and we know what's happening and have someone to speak to or visit or email or w/a.

In this case after 3 days I already suspected a problem and when even BCA said there is no message nothing in the system then I thought oh no.

And the client from his side kept trying to contact them and got nothing. No reply.
Eventually we decided after 2 weeks to cancel it and try get his money returned and he can send it to my uk account within minutes according to them

Well still waiting his money returned they can't even tell him how long or why even it never arrived

 

[harryopal1]

All I'm saying is be wary of using Revolut

We all have transfers get stuck or slow with correspondent bank but at least we know or we've been told and we know what's happening and have someone to speak to or visit or email or w/a.

In this case after 3 days I already suspected a problem and when even BCA said there is no message nothing in the system then I thought oh no.

And the client from his side kept trying to contact them and got nothing. No reply.
Eventually we decided after 2 weeks to cancel it and try get his money returned and he can send it to my uk account within minutes according to them

Well still waiting his money returned they can't even tell him how long or why even it never arrived

Commiserations. It's the kind of thing that creates an awful gut feeling that just won't go away. I hope it sorts out.

 

[jstar]

he can send it to my uk account within minutes according to them

And this didn’t give you the signal the probleem is in RI? Come on, don’t be so naïve or biased. You have zero zip nothing nada experience with Revolut but the problem must be them. You read it on the internet somewhere. Gila.

 

[jstar]

In the news recently ... tens of customers lost their saving at Bunq .. don't get their money back ... some lost 100.000 euro. Oeps!

That’s all phishing.

I‘m active on a Dutch Indo forum with many elderly people. They don’t see any harm in publishing their full name, address end even telephone number and email address. And then they are surprised that after an ‘employee’ of ING, ABN, Rabo or even BUNQ contacted them to ‘solve some online banking issues’ or they clicked on some sms links, they lost a lot of money from their account. I’m trying to educate my dad on that but it’s extremely difficult.

 

[snpark]

And this didn’t give you the signal the probleem is in RI? Come on, don’t be so naïve or biased. You have zero zip nothing nada experience with Revolut but the problem must be them. You read it on the internet somewhere. Gila.

Just to remind you I have 30 years experience in banking and I'm not sure if you actually understand what an MT103 is.

When a bank sends money to another bank they send a message first to say "this money is coming". That's how it can be traced. Like a DHL awb number. Can be traced from door to door

In this case no message was even visible.

The sender had even spoken to the bank in advance to check if it was ok to send that much to indonesia. Again revolut confirmed yes from his bank account (not the app) he could send 51k euro to an indonesian bank

They even checked with their correspondent bank. So everything was pre approved and authorised before he even sent it.

In theory it should have arrived the next day. Or Monday.

But after a week which included that Monday holiday Germany and Thursday Friday holiday here then the next week and still nothing and BCA talking to central bank and looking for any message, nothing.
His bank also confirmed it was ok, funds gone. No messages sent back from anywhere along the line.

So where is the money. Even if held up in the middle, that bank would have rejected it naturally anyway. And his bank said that according to their system no problems and I should have it

So that's the problem

Nothing to do with RI because whether it's wrong number or name or over a limit etc they would have automatically rejected it. And if it got as far as "here" then it would be in the system pending and my guys had the mt103 and were actively looking for it.

Now we waiting for them to return it to him to send to my uk bank

But this now also is taking suspiciously long time. Even to get any reply from them takes 2-3 days "we are looking into your problem but unable to find the funds"
"The number you provided is invalid" etc etc

Hence the concern and soft warning to other people here

 

[snpark]

That’s all phishing.

I‘m active on a Dutch Indo forum with many elderly people. They don’t see any harm in publishing their full name, address end even telephone number and email address. And then they are surprised that after an ‘employee’ of ING, ABN, Rabo or even BUNQ contacted them to ‘solve some online banking issues’ or they clicked on some sms links, they lost a lot of money from their account. I’m trying to educate my dad on that but it’s extremely difficult.

The first thing those phishing emails do is have a mistake. That way they can weed out all the clever people.
Then they know whoever replies is vulnerable

 

[jstar]

The sender had even spoken to the bank in advance to check if it was ok to send that much to indonesia. Again revolut confirmed yes from his bank account (not the app) he could send 51k euro to an indonesian bank

That’s what I told you! With your 30+ years of bank experience you had no idea and even misread /misinterpreted their website info (as you often do).

What you fail to mention or simply don't know, is that the MT103 is a SWIFT form. And Revolut can provide that if you ask them. Not that it would do you any good since it's just a stupid confirmation (yes we sent it and these are the specs). They also use their own statements BTW.

They even checked with their correspondent bank. So everything was pre approved and authorised before he even sent it.

In theory it should have arrived the next day. Or Monday.

Why? Should have? If you say that you have no experience whatsoever with transfers out of the SEPA etc.

Everything you mention clears the bank of the sender. So….. BCA.
But you don’t want to hear that


(Your love, preference and admiration for HSBC and BCA gets a bit ridiculous. Have you ever banked or worked somewhere else?)

 

[snpark]

That’s what I told you! With your 30+ years of bank experience you had no idea and even misread /misinterpreted their website info (as you often do).

What you fail to mention or simply don't know, is that the MT103 is a SWIFT form. And Revolut can provide that if you ask them. Not that it would do you any good since it's just a stupid confirmation (yes we sent it and these are the specs). They also use their own statements BTW.



Why? Should have? If you say that you have no experience whatsoever with transfers out of the SEPA etc.

Everything you mention clears the bank of the sender. So….. BCA.
But you don’t want to hear that


(Your love, preference and admiration for HSBC and BCA gets a bit ridiculous. Have you ever banked or worked somewhere else?)

Hey remember it's not me doing the transfer. It's the client in Germany who did it. Not me. And he doesn't understand banking or how these things work. He doesn't realise you have to call and email banks every hour and push them to do things. Just emailing them once and letting them "get back to you" doesn't work.

I don't know he couldn't just send it directly from his Santander account. Or even just €20k a time.

I have dozens and dozens of international transfers every year from all over the world in my personal account and the quickest has been same day korea to indonesia $ and a GBP arrived same day once

But 99% of euro arrives the next working day and the rest 1-2 days later

US$ usually 2-3 days.

If I haven't got the money after 3 days I already know there is a mistake.

In this case I'm dealing with an ignorant client who doesn't know or understand banking systems and isn't pushing for solution.

But there is definitely something fishy with Revolut.

And how can it be BCA fault? They didn't receive it. They couldn't even find the swift in the system.

I've never had a problem with bca. Even if a correspondent bank or the remitter makes a typo I can go and sign an affidavit that it was meant for me but they got a letter wrong on my name

So no I won't blame bca. And it wasn't central bank blocking it for money laundering because then it would be in the Indonesian system and we would know there was a problem even if they just outright rejected it

But there was no message in the system

It was a real swift 103 and the details were correct but between him sending it and "indonesia" it vanished.

Now it may be it is stuck with a correspondent bank but the fact that revolut don't know and can't or won't help is very shit and suspicious just like their lack of communication.

Anyway the client is also stressed because now he has me calling him every hour chasing him to call his bank every hour. Even weekend.

Let's see

 

[jstar]

So no I won't blame bca.

What a surprise

If you have been banking internationally for years, you should know better than to freak out and panic if something takes a bit longer. And take appropriate action instead of blaming a sender’s bank. I leave it at that, it almost becomes like a ‘damaging operation’ of a competitor here.

 

[snpark]

So if I send you a FedEx and you don't get it, it's your fault?
Your maths isn't mathing.

 

[snpark]

A bit longer? We are talking a transfer that takes 2-3 days absolute max. Not 2 weeks. He could have walked here with it in in cash in that time

I guess you don't want to see the bigger picture you just want to attack me when I wasn't even the sender yet it's my fault or BCA fault for not receiving it.

 

[gemima]

I think it was a bit silly for your client to use Revolut to transfer to an Indonesian bank. I would never use it for large international transfers.
I use revolut regularly and have no issues to report - today I used it to pay a bill for 1500 euros - the transfer was instant and cost nothing. They provide updates on the status of the transaction in the application - so it should be clear where the money is.

 

[pantaiema]

I think it was a bit silly for your client to use Revolut to transfer to an Indonesian bank. I would never use it for large international transfers.
I use revolut regularly and have no issues to report - today I used it to pay a bill for 1500 euros - the transfer was instant and cost nothing. They provide updates on the status of the transaction in the application - so it should be clear where the money is.

Additionally, using Revolut to conduct a transaction of €51,000 . It might also be the first time of transferring such a large sum (?). Even when transferring money between bank accounts within Europe, including within the same country, your funds may be temporarily held. In such cases, the bank might not provide an explanation until their investigation is complete.

Reputable banks doing international transfer have a CTR obligation to report, documenting transaction that exceeds a certain limit. Some banks will let you increase this limit for a short amount of time, like 24 hours but you will need to call them before conducting your transaction.

 

[snpark]

Additionally, using Revolut to conduct a transaction of €51,000 . It might also be the first time of transferring such a large sum (?). Even when transferring money between bank accounts within Europe, including within the same country, your funds may be temporarily held. In such cases, the bank might not provide an explanation until their investigation is complete.

Reputable banks doing international transfer have a CTR obligation to report, documenting transaction that exceeds a certain limit. Some banks will let you increase this limit for a short amount of time, like 24 hours but you will need to call them before conducting your transaction.

Btw they even charged him €213

And he checked before and said can I send €51 through the account / bank to bank Indo (not the app) they said yes

 

[jstar]

You really don’t read do you? We mentioned the different plans before. And yes, you could be charged 0,5% or so.

 

[snpark]

I can read but again for those that cannot, this is not ME
This is my client who decided for whatever reason to use his Revolut Account with Revolut Bank to send it, with prior approval for large amount, to my BCA
I don't care what fees he got charged I told him at the time just swift TT from his Santander direct to my BCA, pay $25 and even do 2 x 20k and 1x10 is ok with me

Since he sent it, Euro is now 17.6 and it was only 17.1 or 2 so at least a few hundred more portions of steamed broccoli

 

[snpark]

4-Jun-2024 / 11:40 WIB

USD​ 16.210,00​ 16.230,00​ SGD​ 12.039,94​ 12.053,94​ EUR​ 17.684,70​ 17.704,10​ AUD​ 10.832,24​ 10.847,41​

 

[snpark]

I lied. Sue me. 17.7

 

[pantaiema]

In the news recently ... tens of customers lost their saving at Bunq .. don't get their money back ... some lost 100.000 euro. Oeps!

In the EU if a depositor loses money due to the EU regulated bank's fault, such as a system compromise or fraud, the bank is generally liable to reimburse the lost funds.

I'm not entirely sure about the situation described above; there may be more to the story that have not been told (?). From what I've seen, heard people often lose money because they give their bank login details or credentials to someone they trust (without POA for obvious reason). They might also give their bank card to someone else and then unexpectedly lose money due to the actions of that trusted person. In such cases, they often blame the banks and try to recover the stolen money by blaming the banks.

For such case even if these cases are taken to an ombudsman and/or reported to regulators, the bank only needs to prove that the cash was withdrawn using Chip and Pin, people are accessing from their own computer, from their own home. Once this is established, the case is closed, and people have been wasting their time trying to fight it.

 

[Samoerai]

From what I've seen, heard people often lose money because they give their bank login details or credentials to someone they trust (without POA for obvious reason). They might also give their bank card to someone else and then unexpectedly lose money due to the actions of that trusted person.

I don't know the details in those cases of Bunq, but from what I have read, yes they have provided the scammers with their login details or they themselves have transferred the money to the scammers.