Just received an email from Revolut asking me to order a new card. Apparently, although the expiry date on the card is sometime in 2024, there will be “new features” on the replacement card that I have just ordered.
I’m completely mystified what “features” could be on the card that would warrant a wholescale replacement programme - which is what this is, apparently. The other card I hold with them will expire in January 2022. Nothing about the 3 virtual cards I hold, either.
Possibly Post Office – starling had to redo all the cards when they started offering PO counter services
I have always wondered about this - how many people actually pay cash into the account ? I see pensioners doing it (not with Revolut), I see traders doing it (with the day’s taking, and presumably also not with Revolut). Is the change “worth it” in financial and hassle terms ?
Weirdly, I had one of my virtual cards “upgraded” like this recently - no discernible change or benefit as far as I can tell. Was yours Mastercard? They’re probably selling it as an upgrade because it’s inconvenient for customers, but it’s probably some arcane backoffice update
It could be switching from prepaid to debit, or their old third party payment processor to RevP?
It could also be something to do with segmenting BINs before they get a UK banking license? At one time, all their cards were issued with a UK BIN but they are now country specific, so perhaps they are re-issuing some cards to match?
Maybe it’s just a case of a set of numbers being potentially compromised, so needing to be reissued, but they aren’t saying this publicly to avoid alarming customers?
It could be all sorts of things.
They gave me quite a lot of notice, weeks at least, so I’d rule this out.
RevP has gone very quiet, but it’s a possibility.
My money is on some Mastercard tweak or, yeah, some conditions for the licence application
They asked me to do this a few months ago.
My main card is a Visa with embossed numbers - expiring in 2024. The differences that I could see was a Mastercard with new branding, printed numbers and no signature strip. When I went into the app, the ‘free’ upgrade had a £4.99 shipping cost - I never proceeded and they’ve never asked me again…
This time they’ve offered a few “free” cards - I just ordered an identical one to my existing one, which was free.
Someone hacked one of my virtual (Visa) cards and tried to buy some stuff on Amazon with it. They spent ten days umming and ahhing about it (I’d frozen all the cards in the meanwhile), and then just asked me to order a new virtual card.
I suspect there is some kind of dodginess going on at Revolut HQ, as 2 days after I ordered my first card, I got a bill for €120 for an Uber in Amsterdam. I contacted them, and they removed the charge and instructed me to chuck the card that had been sent out and sent out another card.
All of which seems to point to an inside job.
That’s rather alarming, at least they did refund it!
I do agree with you, though, it does sound like some kind of internal vulnerability plus employees taking advantage which they have recently become aware of.