Should be interesting. Right now Revolut has a bug with AIB accounts, where they’re unable for a lot of accounts to be able to detect any income from your employer if you’re applying for any of their credit facilities.
You can literally ask it to check on pay day, and they’ll come back with ‘We’re unable to validate any income on the linked account’.
Now before you think it’s just me, both a standard chat support advisor, and their supervisor both confirmed they’re aware of it but no one’s doing anything to fix it so I’ve a case opened with the Ombudsman.
So why’s that relevant? Because Fintech support is great until it isn’t, and if you’re applying for something as critical as a mortgage and you get denied because their vetting algorithms are broken it’s not going to be a good experience. Or if another issue crops up and Revolut roll out the same meh response.
As much as I want Rev to be a good alternative to bricks and mortar banks, they’ve a long way to go before I trust them with any significant financial commitment.
Callme-Sal on
I’m not sure I’d switch my mortgage over but more competition in the Irish mortgage market can only be a good thing.
3 Comments
Should be interesting. Right now Revolut has a bug with AIB accounts, where they’re unable for a lot of accounts to be able to detect any income from your employer if you’re applying for any of their credit facilities.
You can literally ask it to check on pay day, and they’ll come back with ‘We’re unable to validate any income on the linked account’.
Now before you think it’s just me, both a standard chat support advisor, and their supervisor both confirmed they’re aware of it but no one’s doing anything to fix it so I’ve a case opened with the Ombudsman.
So why’s that relevant? Because Fintech support is great until it isn’t, and if you’re applying for something as critical as a mortgage and you get denied because their vetting algorithms are broken it’s not going to be a good experience. Or if another issue crops up and Revolut roll out the same meh response.
As much as I want Rev to be a good alternative to bricks and mortar banks, they’ve a long way to go before I trust them with any significant financial commitment.
I’m not sure I’d switch my mortgage over but more competition in the Irish mortgage market can only be a good thing.
Hopeful? Yes.
Optimistic? Absolutely not.