COVID 19 😭 more than 13k Portfolio - Revolut Locked Account Since 13/03/2020 due funds verification - Sharing My User Experience! [UNSOLVED]

[Please Share My story] :sob:

Dear Revolut,

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 :deciduous_tree: :evergreen_tree: 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.

  • Ombudsman

No response as of yet. Expected ATA 3 weeks (1 week left since I made the complain)

  • Twitter

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.

Compliance team
Received 11 may 2020

Dear Cihat,
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.
Best regards,
Revolut Team

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,

Are you in a similar situation? Please share your story down below!
#site-feedback #uncategorized #ideas

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.

11 Likes

Have you already tried this:

4 Likes

Thank you for your response.

I updated my post with the steps I did before posting this in the community forum.

The same has happened to me i have been waiting for a month and no reply from them

2 Likes

@AndreasK
I also have the same problem my account is locked as I have Verified everything in my account and sort the problem out but now it’s under review when I have already sorted everything out I don’t know how long this is taken and I really need access to my account and my money I have my rent nearly due and I have to pay my bills and all the shopping I’m stuck right now with no money because this account is my only income as well all my money comes in and they have blocked me from it when I have verified everything and now I’m waiting because it’s under review and also because of this coronavirus situation I’m also struggling with financial needs to look after my family and I need to buy shopping as well as my household requires a lot but I can’t because I do not have access to my account on my money please help resolve this as I am really urgently stuck

3 Likes

I have the same problem, but no one is willing to help me via app-chat

2 Likes

Take them to court my friend. I will do if I don’t get a response next week.
I don’t think FCA approves of third parties to hold our funds just because they haven’t got enough staff for verification puroposes
We understand that due to current circumstances there’s a tons of scams going on, but Revolut more than likely don’t want to loose their profits in getting more staff. But rest assured Revolut, you’ll loose hell of a lot more customers

4 Likes

After massive problems I decided to pull my money out… Revolut used to tops, now I simply do not trust it and have pulled all the money out… Simply too dangerous to leave it in the hands of a company who cannot can contacted by ANY method ( live chat ? After waiting hours in what I was told was a 6 minute queue I gave up…
I wish you every luck with your issues but in all honesty do not hold out much hope

4 Likes

Hi @Glodinasofficiaal,

I hope you’re well. I have also been hit with an account lock but only I am in a much more depressing situation. They locked my account for security reasons and now I am unable get through to a human to help me with this.

Sadly a relative has passed from COVID-19 and It was always my job to pay towards the funeral costs which are due later today. All my money has been in Revolut for a while and always loved the service. I never thought it would happen to me, but it has and I am devastated. I am trying to get through to support via Facebook, App and Twitter. All of which have given me next to no information.

During this pandemic I would like to think that the company has a lot more respect for the customers and how they are treated. I have been advised by our family lawyer to contact the FOS to report them and start to sue. This may be my only option if they don’t resolve this unnecessary situation.

I hope they get your account back up and running, and stay safe!

B

4 Likes

I have the same issue unluckily i’ve stock my money there and i felt like i’ll never get it back right now i’m traveled to another country i stock all my money in revolut , they fucked me up so hard ,guess i will end up homeless in another country.

4 Likes

Hi,

Thank you for your message.
Sorry to hear of your situation. Perhaps we should explore the possibility of a class action suite. PM me if your are interested.

2 Likes

If you sue them your case with the financial ombudsman will be prejudiced if you receive compensation from that before the FOS case has resolved

1 Like

My account has been blocked too and I have been trying since Thursday but still stuck on “looking for agent” screen and do not know what to do. Any suggestions?

2 Likes

This is a good idea. I would love to be a part of this. As i have been waiting for a month and have come across all sorts of financial problems.

Issue solved. I eventually got into the live chat with someone who was very understanding and solved the problem. They locked my account because I had a few payments from a friend who put the reference as ‘Promo’ - I was told by the live agent that I am not allowed to have any payments that relate to a business. Which I understand, I have looked at opening a business account but I aren’t by law, self-employed so It isn’t going to work for me.

Thank you to the agent who helped me, they were very helpful and explained the problem and how to avoid it next time. I have now got a strike on my account and if I get money sent to me again for a promotion of something business related, my account will be locked permanently.

Thank you,
Ben!

1 Like

Glad to hear that you have managed to solve your issue. I hoop that I will manage to do the same.
Il keep you guys updated.

Give this a go. I’ve seen a couple of posts on Reddit and Facebook regarding this service and it’s independent.

https://www.resolver.co.uk/companies/revolut-complaints

I’m just sorry that you’ve had this experience. I hope this never happens to me in the future. :fearful:

Thank you!

This process looks similar to ombudsman.

Il give it a try.

Yours friendly,

Glodinas

You know, you can’t actually sue. It is the samebwith Paypal, they are yet to behave like a bank, so they are an electronic service provider, what means they are far from being regulated as hard a a bank. That means they can do what they want/can. I am also blocked for the exact same scenatio, but their paat diligence gives me trust in their good faith.

With any luck, it’ll force Revolut to give you a deadlock notice if they can’t solve it but the rule is, you must give them a chance to try and fix the problem. Only then can you escalate it.

The only thing (and I know you’ve been doing it for ages and fair play to you for doing it but just reminding anyone else who’s on the same boat) you need to do is to continue to be patient with them.

Good luck and keep us updated. :+1: