Proactive Source Fund Proof

Perhaps it’s bots from other eWallet companies trying to scare people off Revolut - but there is a LOT of people posting recently on the Revolut subReddit about funds being held due to KYC checks.

Given that many people are using Revolut to receive their wages and not having the luxury of having additional funds to use (for weeks too…) if inbound wage payments are delayed due to checking.

Why not allow us to attach pdf documents to current and previous inbound payments - so eliminating the need for future payments from the same senders being flagged / held?

I would be more than happy to attach my monthly wage slip to the inbound payment from my work - if I knew this would reduce the risk of my funds being held (which has happened twice for me, but granted my funds were released within hours, not days or weeks…)

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Maybe this is a violation on data privacy (GDPR) if Revolut or other financial entity demand the monthly wage slip every time the customers receive their wage. The banks can’t do it. They know the origin of the money (company A or B or …), we don’t have to explain why the money was transfered to us.

perhaps this article helps explain the worries over money laundering - the driving force behind :r: requirements.

AML/KYC must comply with GDPR, so not all AML/KYC measures are valid. Even the financial institutions have limits for their customer data.

The Tech companies (including FinTechs) want to collect all possible data for various reasons (AML/KYC, commercial, advertising, etc), sometimes violating the GDPR and other data privacy legislation, that why some are fined for the excess in collecting data from customers.