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by packetpirate 2554 days ago
Why the hell would you even use a "virtual" card? With the rate at which personal data is being stolen day after day and companies as large as Equifax being breached, why would you trust your money with an all-virtual bank? Especially one that is so new? It's just asking for trouble. I've had the same bank since I was 17 and they have literally never let me down, and the couple of times I had a fraudulent transaction occur, they automatically flagged it and called me to ask if it was legitimate.
5 comments
tooop 2554 days ago
Virtual card is a disposable card that you can use X times (or whatever you set it up). For example, i use virtual cards for services that require CC info in order to register for trial, this way i don't have to remember about my trials expiring and getting charged (because i set the virtual card to be used only once / delete it right after i have used it).
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literallycancer 2554 days ago
"Virtual card" is a thing in their app. You still have a physical card. The virtual card is for shady shops and such, so that you can delete it afterwards with a single click.
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rchaud 2554 days ago
Fintech companies market their products specifically towards people who see themselves as "rugged individualists" who don't need the nanny state to look after them, or millennials who are untrusting of big banks after 2008.

I fall into the second category, but I'm also aware that what little I have in $bigBankCo is covered under depositor's insurance, and I'm good as long as I don't sign up for their usurious lines of credit or things like that.

And I've seen way too many smarmy startup dudes promising customers the earth, moon and the stars if they join their revolutionary "non-bank". No thanks.

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AlexandrB 2554 days ago
Bitcoin and some of the financial startups seem like efforts at educating the public about why regulation exists.
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icebraining 2554 days ago
My physical bank charges quite a bit for international payments on my credit card (even all in Euro). Revolut doesn't. That said, I avoid keeping money there, even if that means waiting a day or two for the SEPA transfer to clear before I can use it.

I also keep money in two different "regular" banks, since I don't trust those much either.

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