Hi, my nightmare started when I initiated an EUR transfer from my Revolut account to a Spanish account in January 2018. This was for servicing an education loan, however, the money never reached the Spanish beneficiary. I am based in the UK, btw.
So, I contacted Revolut and all they could provide me was a confirmation that from their side that the transfer was successful. The support team, when requested, informed me that they cant trace the funds as it is a SEPA transfer.
After around three weeks of investigation and frustrating to and fro with support, their tech team asked to recall the funds. They never told me what happened and why the money never reached my beneficiary.
It has been three months since then, the the recall has not arrived yet. Apparently, Revolut’s payment processor has requested a response multiple times. The support team keeps telling me that Citibank Spain is not responding. Whenever I ask Revolut about it, I keep hearing the same old line of how hard they are trying. They also keep telling me to contact Citibank Madrid, which I have no way of contacting.
As an end customer, the entire process of transferring through payment processors, and middle men should be transparent to me. Is it not Revolut’s responsibility to make sure that my funds are not lost?
To the community members. Has anyone ever faced a similar situation before? Any idea what I can do to get the funds back? Will it help if I get the financial ombudsman involved?