Revolut not crediting usd 38000.-

Hi. I have a massive problem with Revolut

I transferred usd 38000 on 2 aug and until now nothing has been credited and they are not responding to my chats.

Iam thinking to involve lawyers now and wondering whether iam the only one

Or can we join lawyers. Iam ok to take highly paid LONDON lawyers to get this sorted

Thanks ur opinion

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What this your first transfer?

Have you contacted the originating bank, to get information about the transfer, to help Revolut with locating your money?

Did you remember to add the reference text on the transfer, so it can be automatically assigned? USD transfers are to a pooled account.

This transfer will trigger the security of :r: …
It might have exceeded the annual top-up limit – the daily top-up limit not to mention.

In addition – if not a top-up – this is bank day 7 from 02.08. so it is still within the limits of a SWIFT transfer.

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I applaud your courage, maybe is just me but I still do not have balls to top-up amounts more than 2-3 hundred to fintech companies with or without banking license…

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I generally agree with you, however there can be cases where one needs to transfer such amounts, particularly when it comes to currency exchange. But yes, overall I’d be still hesitant too to use Revolut for substantial amounts, it is too much Wild West and everything seems too vague.

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You might want to refer to Regulation 89(1)&(3) of the Payment Services Regulations 2017:

(1) The credit value date for the payee’s payment account must be no later than the business day on which the amount of the payment transaction is credited to the account of the payee’s payment service provider.

(3) The payee’s payment service provider must ensure that the amount of the payment transaction is at the payee’s disposal immediately after that amount has been credited to that payment service provider’s account.

@henrikbjorn, where did you read that?

Regulation 63 states:

63.—(1) This Part applies to payment services where—

(a) the services are provided from an establishment maintained by a payment service provider or its agent in the United Kingdom; and

(b) the services are provided in one of the following circumstances—

(i) the payment service providers of both the payer and the payee are located within the EEA and the service relates to a transaction in the currency of an EEA State;

(ii) the payment service providers of both the payer and the payee are located within the EEA and the service relates to a transaction in a currency other than the currency of an EEA State; or

(iii) the payment service provider of either the payer or the payee, but not both, is located within the EEA.

Bye yes I send Swift to Revolut immediately. With exact amount. Shud have been very easy to locate on a pool accnt

I know. I tend to give people upfront credit until disappointed. But prob u r right

If Swift is provided it’s credited the same day

Fine that they say it cud take up to 4 days and they pocket the interest. I do understand that Revolut also needs to make some money. But not 12 running days. Simply. It true what u saying that 7 world days usual

I am quite sure that it is some security related thing.
@anon33247966 or someone else from the team should be able to inform you.

I just got informed that my transfer failed. So that’s probably what happened for you too.

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