So, I was one of the early adopters of Revolut within my social circle.
Used it for a number of months before suddenly one day my account was hit with a permaban due to breaching section 19.1 (I think) of the Ts&Cs. At the time I was confused and too upset (offended, even) to bother reading the Ts&Cs. What’s more quite a large number of people in my social circle were also permabanned. Now having worked in eCommerce and financial services in the past my immediate suspicion was Revolut believed this was some kind of money laundering or fraudulent ring. I contacted customer support and was simply quoted the same thing over and over, “you’ve breached section 19.1 blah blah blah”. All very frustrating and unhelpful. Added to the fact that I haven’t received the money stuck in my account to date (about 6+ months after the fact).
But for whatever reason, today I found myself on the site and read the applicable section. Unsurprisingly most of it relates to criminal activity which is just bizarre on my part. I gave my genuine home address, name, contact details and passport as ID during the account verification process. Granted, I spend a bit of money on online shopping but not a lot more than the average person. And to suspend a group of accounts due to suspicions of AML is understandable but considering we’re actually encouraged (and rightly so) to invite others to join Revolut in the first place I find the suspension contradictory honestly.
Loved Revolut then and still do now despite being suspended because simply put I’ve yet to find its equal in terms of service and ease of use. It actually completely replaced my bank for those few months using it.
Anyone else experience this issue or something similar? I’ve heard @anon33247966 and @larysa.stachowicz are the people to reach out to. Any help or resolution you guys could provide would be hugely appreciated.