Security blocked business account, no feedback or response after 48 hours


#1

From last Thursday our business account has been “security blocked”. We were promised a response by end Thursday, Friday morning, Friday lunch, end of Friday. Nothing. We have had in the last 10 days Issues with Revolut/Saxo rejecting inbound SEPA payments. Seems that Revolut does not have control of either the relation with Saxo or support for business clients. On Monday we refer the matter to the FCA


#2

Well, then it is already settled anyhow.


#3

No. It will be settled when there is written response (1) from Revolut, and (2) in compliance with the maximum time allowed by the FCA


#4

Well, I meant if you are already involving the responsible authorities there is nothing the community can do anymore.


#5

To be aware of the difficulties of others is a manner to avoid them, and bad actors, yourself.


#6

My point is just that these, pardon, usually empty threats are a bit tiring. Should you actually go through with your complaint to the FCA, please keep this thread updated, particularly with the response of the FCA. I am sure it would be interesting to the community as a whole what the FCA’s stance is going to be.


#7

I don’t know who you are but informing a regulator of abnormal behavior of a company under their jurisdiction is a normal part of business compliance.


#8

I didnt say you shouldnt do it, I only said that sort of threat/announcement is not that uncommon in the forum here and is typically followed by nothing and there is little point in announcing it a la grand. If you plan on doing so simply go through with it and ideally report back here so that the community also knows what the FCA’s stance is.


#9

I always love how useful Google is


#10

There is nothing community can do in general anyway.


#11

That being said, I still understand your frustration. Support is at the moment one of Revolut’s major issues. I am not saying that four days of waiting is acceptable for a “free” customer either, but it is particularly unacceptable for paying customers, i.e. premium and business ones.

That being said too, I am afraid the only leverage customers have is the one they always have (and which is rarely used) - stop using their services and paying them. If Revolut does not perform to your standards the best choice is to switch to the competition.


#12

Hi there. Please send me a direct message with your company name/email.


#13

Good morning Jessica,

Our company name: Eternum UK

My company e-mail: Craig@solarisoffgrid.com


#14

@Craig_H it has to be a Direct Message to her so she can do all the security checks in private. click on @JessicaZ’s name and then [message]


#15

@Craig_H Our Business team has been in touch with you today via chat.


#16

Yes they have. Saxo apparently closed our account without informing either
us or Revolut.

Definitely not best practice for proper Fintech or a bank. I will document
the complaint and inform the authorities, as Saxo also assessed charges for
inbound wires without authorization or notice.

Yours,
Craig H