Missing Money!!!!!!

I have a similar problem that has been going on for over a month now with no end on sight.

I have been trying to find out what happened to a 7070 euro transfer I made from my Revolut account to a bank in Egypt !

The story begins with me making an international transaction but entering a wrong name in the recepient name. I soon realized the mistake and contacted the customer support. Customer support told me not to worry and wait 5 days and the transaction would bounce back once the recepient bank rejects it.

Of course this never happened and I kept trying to allocate the money jumping back and forward between Revolut and the other bank !

After two weeks Revolut shared with me the Swift transaction details which showed that the money waa sent successfully to the recepient bank but was pending on their reply. I thought this means that Revolut has some work to do to confirm that either the recepient bank accepts the money or they return it back to my account. But I was wrong I started getting replies from ths customer service saying they processed my transaction and it is not their problem that I made a wrong entry in the recepient name !!!

I raised a complain saying that how come Revolut is not taking the responsibility to track a transaction to see if it gets accepted by the other bank or it bounces ? And they replied very quickly saying that they have done everything correctly and it is not their responsibility .

They also said they would open a reclaim request for the money that might not be successful because it has to get the corporation of an intermediate bank and the recepient bank !!!

After going a little crazy I was able to get information about the transaction from the recepient bank saying that they rejected the transaction due to the mismatch between IBAN and Name and that they transferred the money back and gave me the details of that transaction.

I went back to Revolut with the UETR number to find this transaction to me hoping that would make it very easy for them to allocate and retrieve the money … that was 10 days ago !!!

In total since I made the transaction order till this day it has been a little over a month. I have no idea were my money went or were is being held I don’t know what to do next and I am extremely worried and out of solutions !

I would be very grateful if someone knows what should be the next legal steps to do in this situation !

I have exactly the same situation like you now !!!

Can you please advise me how to proceed with the situation if you have already resolved yours ?

I know there are some facebook groups about customers taking legal actions. Maybe they can help you. If you’ve gone through Revolut’s complaints procedure, you can make a complaint to the Financial Ombudsman Service. You can contact the Financial Ombudsman at financial-ombudsman.org.uk. I’ve no expierence with the Ombudsman in the UK. Good luck!

hey daehainguk !

Thank you for your response. I am trying to find out more information about raising a case to the financial ombudsman. But shouldn’t I be reporting the case in the Financial ombudsman of Lithuania sinve Revolut looks to have moved all the activities to there ?

Or do you think I should stay with the Financial ombudsman of the UK ?

You’re right. I checked within the Revolut app and all I see is Revolut Bank UAB and Revolut Payments UAB. In this case The Bank of Lithuania handles disputes between consumers and financial institutions.

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