Revolt made a mistake, and WE have to pay for it


Hi Andreas,

Using Sepa, i transfered hunderds of euro’s on the 25th of januari. As many Revolut users have noticed by now, in that period the sepa database was off and banks were reading Revoluts bic as REVOGB2L in stead of REVOGB21.
Using transfer from my bank, i didn’t see it, as a bic is not need for a sepa transfer.

Well my money is gone and Revolut blames ME. Also they refuse to pay for all the fees to recover the money by my bank. Also they have no intention of compensating MY wasted time.
Also they offer NO help whatsoever to retrieve my transfer.

This is really a shame. My bank did not change the bic, Revolut did. I have spend hours talking to my bank, in how to find my money, and it still has not returned. Today 1 week ago

I really believed that Revolut could change the banking system, but the truth is they is they are just as bad as the old banks.

Covering up mistakes is really bad for a startup company.
Well at least they understand my frustration…

Transfer from Paypal still pending

The two quotes above is opposite. In the first you write that banks read wrong, and in the last you blame Revolut for the error. I do understand frustration by all the persons that has ended up on this situation. But if it is as you wrote in the first quote it is hard to blame revolut. Is the fuck up done by revolut I think as well that they shall clean up the mess. Or at least help as much as possible.


No it is not, Banks read bic from a database. Revolut or its third-party processor entered a wrong value in the database.

Andreas confirmed this in a earlier thread.


I have read that thread as well. But you do write that banks read that wrong, so that could lead to a reason for blaming you/your bank. But now you made it clear. Hope this ends up in a way that make everyone happy or at least satisfied.


Revolut changed something, your bank didn’t update their systems.


Why in the world would Revolut change this in an invalid value ?
It was working before, this was my 4th transfer to this iban

Why was no warning issued? I don’t know how many people have problems now, not receiving their top-ups and not getting their money back either.


Jesus Christ its 2018 and the CEO of Revolut hasnt even resigned or anyone accepting responsibility for thousands or millions of funds not transfered this #Revolutgate really is a shame for the British Financial Authorities that clearly are not doing their job to oversee such amateur behavior .


It is not about the mistakes… it is all about the solutions


I also sent a 1 euro transfer as a test yesterday should I take the advice of Revolut support and pay 10euros fees to recall it?


It is actually 15-75 euros .


So why would a bank bounce it back? They can pretend they dont know what is going on and credit the amount only after we as idiots pay the fees.
Officially Revolut denies responsibility because the bank should keep the records updated .
So maybe the banks did it on purpose to sabotage Revolut.!


Weatherballoon or UFO depending who you ask…


According to both BICs exist and belong to REVOLUT LTD. So Revolut has received my/the money and cannot sort this out?


They didn’t offer any help whatsoever…
figure it out with your own bank is the official statement
And we don’t cover the fees at all


The banks says its not their fault go figure.
After 1 week still noone can say for sure where this money is.
Noone still replies as to the root cause of all this mess
Its a discrace.


Revolut doesn’t feel responsable at all…
They only care about bitcoin trading these days


we have the same problem here from Belgium.


According to other threads this has been happening all over Europe. I have been waiting for a SEPA transfer from a German bank which assigned the wrong BIC code to the IBAN (REVOGB2L). We will apparantley be charged for even enquiring about getting the payment back. However, its not clear why all these banks have got the wrong BIC code, it can’t be a mass coincidence. I fear that Revolut has cocked up and supplied the wrong details to however runs the IBAN database. I think an Financial Ombudsman (UK) enquiry might be able to sort this out.


No stone unturned… this smells like cover-up


Where is Andreas K by the way ?
Normally he is here to comment, like always.