Business application declined.


#1

Okay so when I was first heard about Revolut I couldn’t have been more excited to try it out, I’m a full time cryptocurrency trader and heard about Revolut through a crypto subreddit. I currently use 3rd party transfer services which cost me quite a lot in comparison, and nor do they give me IBAN to hold and access currencies. So yeah, Revolut was perfect, fees are way cheaper and I can hold and access the currencies on a debit card with a smooth working app.

Now the problem comes with the top up limit. I trade on multiple exchanges in a few different currencies, this requires me to have to send a lot of capital around often. I spoke with support who informed me that the top up limit is based on my wealth and that I should open a business account for my needs which is then limited on the number of transactions. Today live support informed me that my application was declined due to certain aspects of my application don’t conform to Revolut’s policies. Very confused seeing how Revolut have recently dived into the crypto space recently.

Has anyone else faced similar problems ?

Now I have a personal account with a yearly top up limit which is only suitable for a week, please help me.


#2

In the Business FAQ, you can read:

Unfortunately, Revolut for Business is not currently available to:
Private individuals
[…]
Furthermore, Revolut does not do business with companies involved in:
Financial services, investment, money remittance, lending, factoring, money service businesses (MSB)
Cryptocurrency

I can see why they denied your application.


#3

Same happened to me. Despite having a fully registered UK company they just denied us. No explanation why. It seems they wanted an invoice we have sent for every type of service we have ever sold. I still don’t really understand what they are looking for… I guess back to TransferWise we go…


#4

Same problem and they banned my community account for evening daring to ask questions about. Total slime ball company.

Their cryptocurrency trading is also fake, you cannot deposit nor withdraw. No proof they even hold it, no blockchain verification or anything. MT Gox v2.0

"Hello,

This is an automated message from Revolut Community to let you know that your account has been placed on hold as a precautionary measure.

Please do continue to browse, but you won’t be able to reply or create topics until a staff member reviews your most recent posts. We apologize for the inconvenience.

For additional guidance, refer to our community guidelines."