[Please Share My story]
I started on this topic to explain my aggravating financial situation that I have to endure constantly because the verification of Revolut funds takes too long to perform.
I have been supporting Revolut for a long time and am a local ambassador in my community. In addition, I have recommended Revolut services to many of my friends and family members. .
That’s why it pains me to say that I recently had found out that what I read online from other users about Revolut to be true. I saw plenty of complains from fellow users on YouTube/Twitter and recently on LinkedIn saying that they got locked out of their account. And that Revolut would NOT give them access to their bank account or release the funds. Putting them in a tight financial spot.
I have been using Revolut since 2017 and never had any issue and if one small problem occurred. I could easily solve it by contacting support. So I wasn’t worried.
Then the corona epidemic started hitting the streets and I had a limited time to refund a large amount of money that I received in previous months back. So my thought was because I was dealing with an international transfer what better way to do it than using Revolut. I top up the account using my MasterCard that I always used and in the progress I could of do some good by plating trees an initiatief from my dutch bank account witch each 100$ spend you get to plant two trees. So I was happy because I managed to plant over 1230 trees over the past few months since they started with that initiatief and my contribution was just 100 dollars a year onto of my month subscription. You could say that I was kind of addicted to plant more trees because I had some milestone in my mind to hit 600 in order to become CO2 neutraal for myself and another 600 trees planted in order to be CO2 neutraal with me and my mother together.
So I managed to hit that goal of 1200 (trees planted) sadly, I regret doing it.
Because this is eventually lead to trigger the systeem and resulting in flagging my account (on 13/03/2020) for funds verification.Which ultimately resulted in me losing acces to my Revolut investment portfolio with over (13K$).
Because as it turns out when I trigged that system that flagged my account I haded’t made the initial transfer of the money to the Company and I managed to do this by sending the money over to my mothers Revolut account and then from there on able to send it to external account. Because my account was initially limited but not completely locked. Had I know then what I know now. I would handled this differently. Nevertheless it turns out that when Revolut locked my account they also denied me acces to my Investment portfolio and the money that I previously had access to.
I want to add that over the past few days since (13/03/2020) that Revolut locked my account they also locked out my mothers account, her boyfriend Revolut account, and a friend of mine Revolut account. All accounts had previously been verified to my knowledge. and had nothing to do with me as an individual.
Closure of my Business Account. Revolut also permanently close my business Account for no apparent reason. That I had with them on the bassist’s that it wasn’t align in accordance with their T&C that. I wonder what exactly wants in according to T&C because I had no incoming and outgoing transaction whatsoever except for the once between my personal revolut account. So they wouldn’t elaborate as to why they decided to foreclose the account.
This is very discouraging and I hope I get a fast answer from somebody representing Revolut or else I will definitely stop using it. If the problem persists I will look for legal advice in order to get this issue solved. I hope it doesn’t come to that.
Action I took:
- In app support keep telling the same message all over again.
Your account is still under review. We would contact you as soon as possible. I would like to request your patience.
- Official Complain response
Given the complexity of this issue, we require some time to look into your case and come back to you with a proposed solution.
Unfortunately, at that time, we cannot unlock your account, or provide you with detailed information about our review.
No response as of yet. Expected ATA 3 weeks (1 week left since I made the complain)
Our team will reach out to you via the in-app chat once an update is available. I am afraid that we cannot make it quicker than it already is. This has been escalated to our team and we have stressed the urgency of this. Please note that continuous tagging us will not make it quicker and might result in having your Twitter account blocked. We hope to have it resolved as soon as possible.
Received 11 may 2020
I regret to inform you that we’re no longer able to offer you our services and that your Revolut account has been deactivated. I am sorry that this is the case, but under certain circumstances, we have to make these difficult decisions.
As of now, you no longer hold any funds in your Revolut, as all remaining funds and incoming transfers have been reverted back to the source from which they were originally loaded in chronological order (starting from the most recent). These transfer should reach the sending bank account within 3-5 business days. Any funds that continue to arrive in your account will automatically be rejected and sent back to the sender.
19 May 2020 I have not Received the Refund.
I am lost and out of option I find it really sad that Revolut has had the time to bring up and develop more then 19 updates since 13/03/2020 when they locked my account up for funds verification but it doesn’t manage to hire enough people to handel the funds verification process. And it effects even people with not free account but metal card (PREMIUM) user like myself.
Looking forward to your feedback.
I call upon your support & speciaal thanks to our community leaders:
@RobKealey, @GeorgeR , @olga_revolut ,@rafael_revolut , @henrikbjorn , @Juliopp , @sam1 , @AndreasK ,@neil1 ,@nikolay, #TimTom, #ars1an ,#David ,#alxjpzmn ,#Revolutbusiness, #maxbeech, #pt220035, #alexa.rodionova, #discobot, #Joshua, #iamsoworking, #neil,
For continuation of the story can be found here: Request advice Revolute account closed by compliance while still being denied access to my investment/money.