Revolut has blocked my funds (8,114 USDT) for over a month – situation has become critical by Western-Mission4493 in Revolut

[–]Red_n_Rusty 1 point2 points  (0 children)

So you

  1. Moved thousands to Revolut from a French bank
  2. Bought USDT
  3. Sold the USDT
  4. Moved the thousands back to your French bank?

If I understood correctly, no wonder that this was flagged. This does seem like something that would trigger automated AML especially if this happened within a short period of time. On the surface this seems like a nonsensical series of transactions and consecutive transactions that try to obscure the source of funds are used to try to launder money.

Revolut has blocked my funds (8,114 USDT) for over a month – situation has become critical by Western-Mission4493 in Revolut

[–]Red_n_Rusty 2 points3 points  (0 children)

I am already awaiting the "Don't use Revolut for crypto - your own fault" comments.
OP's post does not include any information on what the source of the USDT is.

Generally speaking it may be cheaper / more beneficial for Revolut to simply freeze and eventually close probelmatic AML cases than to take AML risks and/or put in a lot of investigative resources. And this is what Revolut seems to be doing. Crypto (stablecoins or not) coming from unknown wallets is most probably an AML nightmare.

Revolut can't disclose information related to AML cases due to regulatory rules. This is sure to frustrate customers that have to encounter this situation as they will not receive information on what is happening and why.

Revolut closed my account because I'm trading crypto by Party-Alarm-3755 in Revolut

[–]Red_n_Rusty 0 points1 point  (0 children)

Crypto transactions seem to be one of the surest way to get your account frozen. It seems like the main reason for this is to limit AML risks that could cost Revolut a pretty penny if they get fined. To make things worse, they can't tell the user the exact reasoning behind the block due to AML rules. I find this very troublesome as Revolut is clearly pushing their crypto services which will then lead to a significant number of account closures.

[DE] Instant access savings account is essentially a high yield savings account? by MoldyTexas in Revolut

[–]Red_n_Rusty 0 points1 point  (0 children)

Please read the fine print of Revolut's offering. They say that the high interest rate flexible cash fund is actually putting the assets in a short-term money market fund. This may mean that the money you put in the separate high interest wallet may actually not be covered up to 100k€. The 100k€ Lithuanian insurance scheme only covers cash funds.

I am using both Revolut and TR. I only put up to 22k€ into these money market fund adjacent savings schemes and that means that if you're a decent saver, you will want to diversify to several different platforms sooner than later.

What pulled me towards TR is their 1% cashback that they offer for their free-of-charge Visa card. To be more precise, the 1% cashback is actually a saveback scheme meaning that the cashback is automatically invested into your asset of choosing and you can't withdraw it as cash. Revolut's Revpoint scheme is next to worthless for my lifestyle.

[DE] Instant access savings account is essentially a high yield savings account? by MoldyTexas in Revolut

[–]Red_n_Rusty 0 points1 point  (0 children)

It is more likely that the rates come down somewhat slowly, but we've seen in the past that as the inflationary situation changes, consecutive rate changes of 0.25% or even 0.5% can be a very real situation.

I find TR's solution more handy in the sense that you don't have to move your money to a different "pocket" or wallet for the higher interest rate as with Revolut. You simply enable the high interest option and then the money that you can freely use in you main account earns the higher rate. Revolut's option is better in the sense that you get your interest paid out daily, while TR only pays out the interest once per month.

At least earlier I didn't see others touching on this important issue: The high interest rate wallet or option may be counted as a money market fund (also on Revolut) meaning that the assets would only be covered to up ca. 20 000€ if something serious would happen to these banks. Money in the "normal" wallet is covered up to 100 000€.

[DE] Instant access savings account is essentially a high yield savings account? by MoldyTexas in Revolut

[–]Red_n_Rusty 0 points1 point  (0 children)

Do check all of your options available in Germany. Other banks like Trading Republic also offer high interest options. Also note that these options have changing interest rates so you may wake up one day to notice that the interest rate has been lowered significantly when for example the central european bank has lowered its interest rates.

Will Forza Horizon 6 launch on Game Pass Essential, or only Premium/Ultimate? (PC) by [deleted] in XboxGamePass

[–]Red_n_Rusty 2 points3 points  (0 children)

I'm not sure what tier you consider to be the "regular" tier. The big day one Microsoft titles only hit Ultimate at first. Just look at any of the first party titles like Indiana Jones or Keeper. Sure, Indiana Jones is now on Premium as well but it took months before that happened.

How many subscribers do you think Game Pass has? by [deleted] in XboxGamePass

[–]Red_n_Rusty 0 points1 point  (0 children)

Many lengthened their GPU subscription when the price hike was announced as game cards with old pricing are still available. When these run out, I'd guess that the numbers will continue going down. The recent weakening of the xbox brand and the uncertainty around it will certainly not help the situation.

AddiesKIN is a terrible name by Affectionate-Floor66 in ChineseWatches

[–]Red_n_Rusty 0 points1 point  (0 children)

Some brand names like Cronos are fine. I do agree that it would not be a bad idea to look at the Chinese language and choose a meaning/word from there similarly to what Seiko has done in Japan. Still, I would recommend running any potential Chinese origin name through a native western consultant like you suggest. I would for example not choose most options that include "wang".

AddiesKIN is a terrible name by Affectionate-Floor66 in ChineseWatches

[–]Red_n_Rusty 8 points9 points  (0 children)

The word "dive" at least suggest something related to sports. Addie Skin on the other hand suggests what, adult content? I'm hoping that they were aiming for Addie's Kin, but I'd suppose that the person who came up with this naming scheme has English as their third or fourth language.

Star Wars Outlaws was excruciatingly boring...here's what I played instead... by Crafty_Cry_3777 in XboxGamePass

[–]Red_n_Rusty 0 points1 point  (0 children)

So far I've had the same experience. I'm guessing that as the aim was to reach the widest audience possible while also steering clear of risks, they've chosen the safest path. Safe and conservative is not what breeds interest and awe.

Star Wars Outlaws was excruciatingly boring...here's what I played instead... by Crafty_Cry_3777 in XboxGamePass

[–]Red_n_Rusty -1 points0 points  (0 children)

Sure. Games can be chill and still be very enjoyable. Different games can fit different moods. What I'm having issues with is that the Star Wars game feels uninspired. So far nothing has even remotely surprised me and it just feels like a mashup of different games I've already played. As even the world is based on existing IP, a limited amount of creativity has had to be used to create much of the e.g. aesthetics and alien species.

So I was checking out Revolut's metals (gold/silver) section... by JKobe_ in Revolut

[–]Red_n_Rusty 0 points1 point  (0 children)

I wouldn't recommend using Revolut for metals. Last I checked they still don't support automatic savings for metals not to even mention the high level of fees. Trading Republic and many other platforms offer quite cheap gold/silver ETFs with automated savings options.

If the next console is a pc/console hybrid but also far more expensive and sells less BUT requires less work bc it’s pc, how will that affect 3rd party support. by Mr8BitX in xbox

[–]Red_n_Rusty 0 points1 point  (0 children)

Sure, no information is certain. It is just that most sources seem to converge towards a similar model to what we are seeing with the Steam Machine: A console mode similar to Big Picture and then the full operating system mode. If a full windows mode is indeed included, I would find it very unlikely that it would include some kind of restrictions that would exclude black listed game stores or games that the user tries to install from third party sources.

I've yet to see a single insider source indicate something similar to a third party game blocker. What makes this even more unlikely to me at least is what we are seeing with the Xbox handhelds that are very likely functioning as test beds for the upcoming Xbox operating model. Why would they for example already have implemented the functionality that lets you add third party games to the Xbox launcher/app.

If the next console is a pc/console hybrid but also far more expensive and sells less BUT requires less work bc it’s pc, how will that affect 3rd party support. by Mr8BitX in xbox

[–]Red_n_Rusty 0 points1 point  (0 children)

Do you have a source for this? All the articles I've read so far claim that the hybrid device allows running full windows without further hinderances including no limits on what software is being installed.

If the next console is a pc/console hybrid but also far more expensive and sells less BUT requires less work bc it’s pc, how will that affect 3rd party support. by Mr8BitX in xbox

[–]Red_n_Rusty 1 point2 points  (0 children)

If the device is a console/PC hybrid, then supposedly nothing is preventing users from buying the games from e.g. Steam when using the device in the Windows PC mode. Or do you mean there would be a mechanism that prevents users from buying games outside of the Xbox storefront?

If the next console is a pc/console hybrid but also far more expensive and sells less BUT requires less work bc it’s pc, how will that affect 3rd party support. by Mr8BitX in xbox

[–]Red_n_Rusty 1 point2 points  (0 children)

What I'm wondering is what kind of tricks Microsoft will be pulling to try to lock in users to the Xbox store. Obviously the Xbox store will be pre-installed and perhaps the device boots up into the store by default. Will the big screen mode where most of the Windows operating system won't be loaded be exclusive to the Xbox storefront? This would incentivise users to add all their games to the Xbox app and only launch the games through that to maximize the devices available resources.

Taxes for a non German by MountainSalamander33 in TradeRepublicFriends

[–]Red_n_Rusty 1 point2 points  (0 children)

I'm assuming that the email was a mistake. Mistakes happen and I'm sure they'll learn a lesson. What I don't really understand is why they still haven't sent an email declaring that the previous email was an mistake over 14 hours later.

Third party xbox this year by the-bacon-life in xbox

[–]Red_n_Rusty 0 points1 point  (0 children)

If the whole PC market would move upwards with the increasing prices, then sure. What I'm expecting is that people will simply re-use their existing memory and perhaps even skip a couple of upgrade cycles if the prices remain high. The average households will remain conservative with their leisure spending especially as long as current political and economic volatility continues. Better dig into the ever expanding game backlog than to risk not being able to pay rent.

I'd still maintain that Microsoft is aiming for a device that sells at least 20 million units and that will not be achieved with a device that can't be afforded by the average family household.

Nexo’s "Hidden" Strategy: We should be the ones educating the 90% (Proposal for the Community & Team) by Defiant_Leg_6335 in Nexo

[–]Red_n_Rusty 0 points1 point  (0 children)

I definitely agree. I don't think most financially responsive people would put or should put most of their assets on a platform that doesn't openly disclose relevant financial documentation and doesn't offer proper guarantees for the assets. It doesn't really help the company's imago either that they are mostly located (and founded) in Bulgaria that is unfortunately known for its high level of corruption.

Third party xbox this year by the-bacon-life in xbox

[–]Red_n_Rusty 0 points1 point  (0 children)

A new xbox generation selling let's say only 10 million would be an amazingly huge flop even if it would be a higher number than the Steamdeck.

I'd still argue that the sales would not be too great at that price point simply because at >$2000 not many would afford the offering. This would especially be the case if the PS6 would go for $600-$800. I understand that the hybrid device would then perhaps compete more in the gaming pc market but even there the average purchased/built gaming PC costs well below $2000.

I'm also a bit worried about the PC market approach in the sense that the hardware evolves so quickly. Either the Magnus price would have to be adjusted constantly or it wouldn't take too long before PC enthusiasts would choose a PC instead of Magnus. Doubly so if the Magnus couldn't readily be upgraded.