25k USD witheld by Revolut. No contact from Help since over one week despite me leaving over 10 messages


#1

I work for a US company and part of my remuneration is in USD. Revolut looks perfect to transfer this money to EUR without steep bank charges.
Each time I make a transfer from US, I have to provide supporting documentation showing source of funds and the transfer doc. You would think that regular payments will be approved after the first time, but no, I have to send new documentation each time.
My worry is that this time, 25k USD has been received by Revolut, but has not been allocated to my account (all details are same as previously so no error). Worse, I have not received any communication via online Help from Revolut for over a week. I have sent over ten messages, but all are being ignored.
I have requested the process to make a formal complaint to ombudsman and FSA, but again no reply.
I am now getting seriously worried.

Can somebody help ?


#2

Revolut, an e-money company, works differently than banks in terms of anti money laundering. A personal top up limit can only be raised by providing the source of potentially upcoming funds in advance. With payslips, this is easy. You can proof how much money you are going to earn in one year. The limit can be changed based on this. With one time payments like in your case, they most likely are only going to raise the limit in steps.

Compliance and AML is handled by a separate team, not the usual support. Once forwarded to that team, I believe the support chat is not responsive for further inquiries.

I expect this is going to change once Revolut has obtained a banking license. I expect them to behave then more like an average bank. Until then, I guess you have to deal with the additional paperwork and the limitations that come with Revolut in such use cases.

I would try to contact them via DM on Twitter. That might speed things up. Ombudsman seems premature. They suggest to give banks up to 8 weeks to solve a problem before filing a complaint.


#3

Hi Frank,
Despite the paperwork being a pain (and not really logical if the source is exactly the same as previously approved), I’m more than happy to do the paperwork if it saves me the fees of a bank !
I love the concept of REVOLUT.
BUT

  1. Funds have been received by Revolut but not credited to my account (despite all requeuested documentation being supplied over a week ago)
  2. No notification has been received from REVOLUT informing me that funds have been received but placed on hold.
  3. And most worrying no reply to my Help chat messages for over 1 week. It seems that I cannot open a new chat session to a std operator.
    I entered into a Premium contract with REVOLUT to receive 24/7 support. I have now been over 1 week with NO support.
    Where do I go from here ?
    btw, thanks for the reply and do you work for REVOLUT ?

#4

If I could engage REVOLUT to try to solve the problem, I would be happier. But it is impossible to contact these guys !!!
I wonder whether I can wave goodbye to my money ?


#5

No, I don’t work for Revolut.

Have you tried contacting them via Twitter? I am assuming that the team handling these cases is trying card to handle all incoming cases. But they weren’t able to scale the compliance team in time for the large number of new users.


#6

I wish you did work for REVOLUT !!!
I guess I just have to wait and hope that I’ll see my money one day.
It’s such a shame, but I was always told as a kid that if something looks too good to be true, then it’s probably not true.


#7

But I do know someone who works for Revolut. :wink: : @AndreasK


#8

by a great coincidence REVOLUT have just contacted me to inform me that thet have released the 25k TO MY ACCOUNT. I can breathe again.


#9

That’s good news @steves :slight_smile: I was going to suggest if you seem to have been blanked by the in app support for a long time, you can try typing in “resolved” to end the current support session and then typing “live agent” again should put you back in queue to reach another support person.


#10

when it works - it is SOOOOO GOOD.
I have used the card in numerous countries and it works like a dream. Shop purchases, online payments, ATMs - all without fee.
Top-ups from credit cards, transfers out of Revolut - all hassle free and free.
Only issue is getting yearly limit raised.
I understand the need for governance and control, but the proces falls down because of the long time required to check the documents.
I am told that I cannot request a limit increase until after the transfer has been issued from US, because I need to provide proof of the funds and the transfer.
These funds arrive within a day or two but REVOLUT then need over a week to look at the documents and make a decision.
This is where the problem lays.
I so, so hope REVOLUT can improve this aspect, I so want to stay with them.


#11

thanks NerdyBiker - that’s good to know.
… although I’d be a bit worried that I would lose my place in the “compliance queue” if I tried typeing in “Resolved”


#12

That’s a true concern, we don’t really know what happens when you resolve and reopen a support session, I have just heard sometimes it can help what appears to be like an endless loop of talking to yourself :stuck_out_tongue:


#13

You must be crazy to use Revolut for such amounts. Get proper bank account, pay fee for normal service with firm guarantees and you will not have to chase your hard or easy earned money with yet another hipster.


#14

Hi there.

We have increased your limits. Apologies for the delay :slight_smile:

Please don’t hesitate to contact us if you have any further questions.

Have a great day.

Regards,

Andreas K


#15

@AndreasK Would You be so kind and help me as well since my money stuck and my transfer is being processed. I have provided number of bank documents but no one even answered my query!!
Please help as It is a matter of great importance.


#16

This happened to me twice for Revolut transfers in USD to the lloyds UK - USD account. Sender did everything correct both times and I received no clear elaboration from Revolut, more “oh we found your money” after me having to ask them numerous times over a long period of time.
Even though they said they absolutely had not received the money, I told them I had received 100% confirmation that the money was received by Lloyds, finally after stating that they magically found the money, both times. Sounds like an issue with their systems parsing the records from their lloyds account.

Would be good if Revolut were more open about why issues like this arise. I`m now worried to do time critical USD transfers because of these two previous issues.


#17

Hi there. I have escalated your query and an agent will contact you once your documents have
been reviewed.


#18

As I can see you are in touch with our in-app support team!


#19

That would be right if anyone answers to my query…
I have signed preliminary contract for a property with a deadline coming sonn and now I am stuck since can not transfer my money.


#20

My problem got resolved in the end, a long time ago.

My point was that people are keeping having the same issues I was having. That we have to contact Revolut for you to find our USD transfers. You should put a warning on your USD account page that transfers may take 1-4 weeks or more. So people dont end up in situations like @Andr