After a weekend with friends I owe a couple of them money. The friends in question are based in the Netherlands, and so I want to transfer what I owe in EUR. I’m UK based with normal UK / GBP accounts with high street banks. Traditionally I’ve always used TransferWise for payments such as these and have never had any issues.
I figured today that I’d try Revolut. I’ve had an account for some time, but never used it to pay other people in EUR before. I loaded my account (using ApplePay) turned the circa £300 into EUR, and added the two new payees.
However all payments to the new payees fail, and I get a message telling me to contact support. Having contacted support, I was told by Olga “please make sure you topup well in advance before transferring funds out”, and when I then asked her what this meant (and pointed out that nowhere in the app is there any suggestion that funds aren’t immediately able to use), and asked when my funds would be available she told me “this is unfortunately not revealed either to support that or to clients”.
This is a frankly ludicrous situation. Revolut are sitting on my money for an unknown period of time, and I’m not able to send it to it’s intended destination. Limitations like this need to be highlighted clearly and upfront. I wouldn’t have messed around with Revolut for this transaction if I’d known this severe and hidden limitation.