Request advice Revolute account closed by compliance while still being denied access to my investment/money.

After more than 60 days of investigation the compliance team provided me with response.

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

They have not returned my money that I hold in my investment portfolio and they keep denying me access even though the investigation has been concluded.

This is unfair what should I do?
What would you do if you where me ?

Thank you for your advice.

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full background story can be found here: COVID 19 😭 more than 13k Portfolio - Revolut Locked Account Since 13/03/2020 due funds verification - Sharing My User Experience! [UNSOLVED]

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Simple: Change your bank.

But is :r: really allowed to lock accounts indefinitely? A few days OK, but several months?
And is it common to return money to the source? Probably OK if you do something illegal (e.g act as a mule in money laundering), but then I would expect a visit from police or a letter from a prosecutor/the tax office. Do you get an official statement/paper what happened to your money? What happens if the reversal fails? How do you dispute it if the recipient (e.g. employer) does not receive it?

All these stories here and on social media are worrying and therefore I use :r: only with restrictions… which make the premium/metal subscriptions somehow useless…

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My Advice: get a lawyer and/or sue Revolut.
I’m with @zapata - with all these horror-storys, how shall one trust Revolut?

This is insane! And truly “Beyond banking” (:r:'s old motto) - but in a very bad way.

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If its just your investment side that’s missing, and forgive me if someone has already mentioned this as I haven’t read the super huge thread in the other link, have you considered contacting/raising a dispute with the investment company directly?

Sapia Partners LLP

“Please note that as Revolut Trading is not an authorised firm, we are not a member firm of the Financial Services Compensation Scheme, but our principal, Sapia Partners LLP is.”

Presumably, it’s them that hold your funds and portfolio.

The T&C’s also mention how funds are held with a firm called DriveWealth LLC in the states… and when reviewing their terms and conditions which are linked in the Revolut trading T&C’s, it says:

Termination of Your Relationship with Your Introducing Broker or Investment Advisor . Either you, or your Introducing Broker or Investment Advisor may provide DriveWealth with notice to close your Account with your Introducing Broker or Investment Advisor. You understand that you must provide further instructions to DriveWealth on where to wire funds and/or move securities held in your Account. You agree that you will provide such instructions to DriveWealth within thirty (30) days of your Account with your Introducing Broker or Investment Advisor being closed. If DriveWealth does not receive such instructions, then you agree that DriveWealth may assess your Account an ongoing monthly maintenance fee of twenty cents ($0.20 USD) to continue custodying your Account, and you explicitly authorize DriveWealth to deduct funds from your Account and/or liquidate securities in your Account to cover such maintenance fee.

Perhaps try going that route?



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