Statements, and the basic errors they contain

How is it that after years, literally years, Revolut still can’t produce statements that add up properly?

Issues such as:

  • I download a statement for a calendar month, and the opening balance is different from the closing balance of the previous month, and the closing balance is different from the opening balance of the following month. :thinking:
  • the running balance doesn’t tally with the amounts transacted (which is at least listed chronologically). For instance, my opening balance 336.62, the first transaction is for -0.62 and the running balance is 336.00 (correct), the next transaction is for -0.40 but the balance is 331.00 (huh?), the next transaction is -45.38 but the balance is now 335.60…?! :man_shrugging:
  • on the new format statements, if you download a statement for a period where no transactions have occurred, the statement doesn’t list what the period downloaded even was.

This is just amateurish. Sadly the statements on Revolut lag far behind those of Monzo or Wise, such that I can barely take them seriously. Unfortunately, I have to keep them for tax purposes.

The new format has made things worse. At least the format seemed to have the correct opening and closing balances.

Surely I can’t be the only person having this problem. I don’t understand why it’s so hard to get this right.

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is it because there are transactions in transit which flex the opening/closing balances?

That’s a reasonable theory, but in that case, I would expect that transaction to flex both the closing balance of September and the opening balance of October, for example (as these are the months I’ve just downloaded). So I don’t buy it. The theory might explain why the closing balance listed on an individual statement doesn’t match the final running balance in the list of transactions, though. :+1:

I could accept it if I was downloading a statement that might contain transactions that hadn’t yet been finalised, but for statements that are for previous months, I would expect the ledgers to reconcile.

All my transactions are listed, but the opening/closing balances don’t cross-check. That seems like a basic requirement, at least to me.

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I’ve noticed an overlap. There are a couple transactions with a booking date of the next months. Probably card payments that were authorised at the end of the month but settled at the beginning of the next. I don’t know.

The opening and the closing balances on my statements match when those overlapping transactions are considered.

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