Account limits

#1

Hello,

I am a UK resident.

I was curious to what are my account limits so I typed Bank transfer limit in the support chat and the system told me that the daily limit is £75k and £125k weekly combined.

So I thought “Great, that is enough” but when I check my revolt account profile the limit is £25k a year? And there seems no way to increase my limit on this app limit page.

I deal in digital currencies so I need to be able to make large bank SEPA deposits to my revolt account and then convert the Euro value to the equivalent GBP value and then withdraw to my main UK bank account.

At the moment with the £25k limit the revolt account is very limited to me.

From my understanding, you can increase your revolt limits by showing bank statements with the appropriate funds but this will not work as the funds I sent to the digital currency exchanges is a lot lower then the funds that I now wish to withdraw as digital currencies go up in value.

I can just deposit the digital currency exchange payment to my UK bank account but that means I would have to use the bank currency conversion and I rather use my revolt account to perform the Euro to GBP currency conversion.

Any help to revolve this would be greatly appreciated.

Thanks
Alex

#2

Hey @AlexD :slight_smile:

There’s some discussion about this exact topic going on here:

#3

Thanks that post seems to have the solution.

#4

Follow up post.

I went to app support and got a support person. I then explained my situation and the official revolt solution for this is to show my digital exchange balance as web screen-shots as this would constitute proof of funds and then my revolt account limits would be increased.

So the support person told me to upload the screen-shots which I did. Then after waiting for a hour with no response the support person said “I hope this revolves your issue. I will close this chat for now”.

I said to "please hang on, has this been successful? have my account limit been increased?"
but there was no answer.

I tried to get in contact with support again by entering ‘Live agent’ up to 5 times through the whole day but no support person got in contact me with.

I understand support is very busy would be nice if they could at least let me know how the process if going (if any) to increase my account limits.

#5

Hey @AlexD :slight_smile:

Did you see any change in the Verification and limits section of the app?

#6

No, that was the first thing I checked.

#7

Hey again @AlexD :slight_smile:

I’m at a loss then. Perhaps someone on :r:'s Twitter or @AndreasK can help?

#8

Hi there. As I can see your chat has been escalated to our compliance, the team will review your documents and get back to you.

#9

Hi,

I think I am in a similar boat. I contacted support to no avail. I also raise my concern on the forum and the respond I got was that the issue is now resolved. But hey - it is not. My topic has now been force closed by the moderator.

Is Revolut trying to hide something? I personally feel that Revolut is not happy with us trading currencies using their accounts. The whole business model of Revolut seems to be around user data and spending patterns. Transferring large amount of money there and forth is just outside of their core interest. In fact it might be a compliance headache for Revolut with no real value behind it to them. As such they keep us in a loop hole and our limits will never be increased.

Am I missing something?

#10

I’m having the exact same issues!

#11

Reach out to them on Facebook. They resolved my issue in there.

#12

I need to increase my limit as I have reached the £25k limit. I am self employed and therefore do not get issued with a P60. So how does that work then? Also, Revolut state that it will take up to 96 hours to view my uploaded documents and verify my increased limit. 96 hours? Are you kidding me? Pony express was faster! I need to make a top up like NOW. Not next week. I cannot take Revolut seriously. It simply is not meeting the needs of potential customers.

#13

From your username I believe you already reached a conclusion for yourself. So why posting here?

#14

I am afraid, it is, but possibly not yours. If you can find decent alternative, switch to them. Good luck

#15

Sure. The answer to your question is easy to supply. It works like this. Some people who use Revolut find the service useful, ie, they don’t mind waiting a ridiculous amount of time to have basic financial processes completed, and share their thoughts in this community. Others, like myself, who do not find Revolut useful, consider it to be painfully slow, thus making it unfeasible for financial transactions, share their thoughts in this community. What? Did you think this community was only for people who found Revolut useful? You poor thing. You want to live in a little biased and one sided bubble, don’t you.
A business that embraces criticisms, that listens to potential and existing customers ‘gripes’ and responds to those gripes in a positive manner is more likely to survive than a business that responds to complaints in a negative and defensive manner.

#16

Ohh for crying out loud. People of your sort immediately resort to personal attacks. Shows your level or argument.

It mostly comes down to how one shares their experience. If someone is unhappy he has every right to share that experience and the facts of what happened. This should still happen in a civilised manner though and in that case there is absolutely no problem whatsoever. If someone chooses to run rampage through a community and chooses a username like you did, he cant expect his complaint to be taken seriously.

Does Revolut have a problem with the support waiting times? Absolutely! Did I have to wait a “ridiculous amount of time to have basic financial processes”? Absolutely not! That could certainly change and I did have one support request that was just hanging for days and I eventually still resorted to the community, but everything else - where so many people fail - went absolutely smoothly.

So who is the poor thing now?

#18

£25k in just over 2 months - wow.
I wish I was as successful as you :innocent:

#20

so i too have a 25k limit in pounds, how do i find the limit in euros? and if i have a limit in euros as well as one in pounds are they both combined or are they separate? any help would be great

#21

id also like to up my credit but cant seem to find a way to do it, i’ve tried talking on the chat with an agent but never got an answer as theyre always busy, i may just give up soon,

#22

I have pretty much the same problem.
I have submitted the papers on Friday May 11th and my funds limit hasn’t been changed until now. The time in the application was 96 hours. I have also asked if I have to provide additional info but it was in vain, no reaction from the verification team.
@AndreasK: Please let me know if there is any progress on this.