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TheTrollCoach t1_jeblm0v wrote

Reply to comment by JayCroghan in It's becoming increasingly clear that fintech has a fraud problem by marketrent

I didn't have to answer any KYC questions or give my SSN when I set up my Venmo account. Haven't used Revolut so they might require that. Coming from a traditional bank FINCENs seem like the wild west.

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JayCroghan t1_jebnscs wrote

For European fintechs like Revolut you need to prove who you are with your passport and a photo of a bill or bank statement to prove you’re a resident. Then they ask people who they need more info for proof of the source of the funds like bank statements or proof of receiving salary. I won’t use them because they freeze accounts so much I don’t want to have to deal with a months long argument to access my money.

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