About verification of funds source


#1

Hello,
I just open e new revolut account.
No problem to do it with verification of my id and photo.
5 minuts after, I receive a msg with confirmation of the opening of my account with the bank transfer of 50 euros.
The question is now : REVOLUT ask me to verify the origin of the funds :
1/ My 3 last pay slips
2/ the copy of the 3 bank statement to proove the credit of my pay
3/ the copy of the bank statement of the debit of the recharge

It is so crazy I can’t believe everybody do this !!!
Am i so unlucky or do I miss something ???
Thank you for your help !


#2

@AndreasK



#3

On a more general note, since many people are wondering about that, and not specifically about your case: financial institutions need to do certain KYC and AML checks about new clients. These checks vary, depending on your physical residency, tax residency, nationality etc. On top of that, financial institutions check your name against various databases. The less is known about you (which could be good), the more they need to ask. They are not nosy - it is a regulatory requirement. And of course they need to check any chance of fraud, credit defaults etc.


Blocked Account - Unhelpful Customer Service
Top up from Bank account
#4

Hi there!

Thank you for contacting us.

@MrWatanabe is right. We must comply with AML and KYC regulations and be able to trace funds that coming in our business.


Blocked Account - Unhelpful Customer Service
#5

How much is the average threshold for asking a Source of funds?

I mean I always am afraid to top-up from my card in one go more than 200-300 thinking that my account may be blocked suddenly and I will be left with a couple of days dealing with the support?