The Polish Financial Supervisory Authority asks the British to supervise Revolut. Spka: "It's very frustrating"

The statement of the Polish Financial Supervisory Authority has a link with a breakdown to which it reaches on Sunday, July 1 Revoluta customers around the world had problems with payment – money was lost from their accounts, but transactions were not made The failure was repaired after several hours. First, the funds would be returned to customers after 24 hours, then a maximum of 72, now on the company's official profile, it is possible that returns can take up to a week. In the network there are voices of indignation at the rate of return

Revolut explains that the problem will appear on the side of the company's external processing of transactions, and that the Revoluta system should be ready before the end of the year. Year

probably for any complaint concerning Revoluta. The KNF informs, inter alia, that Revolut operates under the license of the Financial Conduct Authority, the supervisory body of the financial market in Great Britain. License, including providing payment services, including maintenance of payment invoices and the execution of payment transactions. Revolut can operate throughout the Union, including Poland, on the basis of what is called "A European Passport" and as control over the spkh belongs to the British regulator, the PFSA is not in a position "to identify early any inappropriate practices"

The Commission concludes, and "because of the situation [awari z 1 lipca –red.] turns to his counterpart in Britain, supervising Revolut, to "ensure and maintain increased supervision over the spk."

Revolut: "it's very frustrating"

We asked for a comment from a Revoluta representative at KNF communication. West, the company's director of marketing and communications, writes, among other things, that is very frustrating when the company's reputation is affected by third-party faults, however Revolut takes responsibility for the problems on the 1st July He added that he was seeking a dialogue with the Financial Supervisory Authority, which will be the beginning of a long and fruitful cooperation.

Below we publish Chad West's pen from Revolut:

We use external service partners to process transactions. Their systems are 99% available. time, but there is always a risk of malfunction. For the past nine months, we have been working to develop our own expertise in dealing with transactions and transferring the function to the inside of the company. This will allow us to minimize the risk of similar incidents in the future.

Although it is very frustrating, when the company's reputation is affected by third-party defects, we take the responsibility of delaying the payment of Sunday payments. We informed in detail the incident of all our customers, in individual cases offering a refund to customers who were forced to use another card abroad

We are committed to establishing transparent and constructive cooperation with regulators in all markets. In the case of Poland, we hope for a dialogue that will be the beginning of a long and fruitful cooperation with the regulator. "

How does Revolut work?

The Revolut app is a kind of virtual multi-currency" wallet. "

We can also order cards in the app (its shipping costs are now from 9 PLN) In the case of abroad, the funds will be debited from the account "zotwkowy" or from an account in a given currency.Revoluta – in the sense of converting the transaction to PLN at a rate competitive – is about 120.

Revolut has about 2 million customers in Europe Poland, with 130,000 people using the application, is there for

Read: Karol Sadaj, Revolut: What Revolut Wants, We Are Less Greedy than Banks

***