Temporarily disabled Business Account - Warning to all the other startups out there!


#1

Our Business Account is “Temporarily disabled” since last week. Nobody replying on Live Chat and we have no idea whats going on.

All this fancy blog posts and emails about " raising $250 million to become Europe’s latest tech unicorn". Well, that is pretty sexy. However, my business is about to die because of this.

We can not receive payments from our Clients, nor can we pay our employees and suppliers.

Others with the same issue or similar stories? Please share your story in this thread!

Maybe all Revolut clients should have a real bank account as backup?


#2

Hello @SEOTigers :wave:
I’m sorry this is taking longer than expected.
Please rest assured that our team is looking into your case with extra care and further updates will be posted on the business chat.
If you have any other requests in the meantime, please let us know via a private message.

Kind regards,
Olga


#5

It’s actually quite hard (maybe impossible) to open a business account with :r:evolut without having an existing bank account.

if you haven’t done it already, it’s highly advisable to carry on with the advanced onboarding to clarify your business activities and avoid surprises bound to automated AML measures. It’s a long process but it’s free and totally worth it even if you don’t need the extra unique IBANs.

for personal accounts is also advisable to start the process of increasing the limits as early as possible for the same reason.


#6

Hello.
I have same problems. My business account is disabled. I have write on chat and I don’t recive any response.
I will discus with our lawyers. Is not posible what is happening.


#7

their helpdesk software is horrible and they need to be reminded you are there waiting. the social media team (twitter and facebook) and the guys here (@olga_revolut, @AndreasK, @rafael_revolut, etc…) are quite effective whipping them


#8

Hi @Domy !

From what I see we have already contacted you regarding that. If you like you can drop me a DM to discuss the case in more detail.

Rafael


#9

Hi @rafael_revolut and @olga_revolut

It is now 5 days since I created this post. It is over 10 days since out Business Account was “Temporarily disabled”.

If this carry on we will be out of Business. We can not receive payments nor can we pay salaries and team members.

I doubt that a High Street Bank would do like this. There ain’t no such thing as a free lunch, so we get what we pay for I guess?


#10

Have you sent DM to anyone from Revolut as they suggested in above posts?


#11

I can tell you some horror stories. “High Street Banks” do this all the time.


#12

revolut business accounts aren’t free, on the contrary. it’s £25 per month for an Ltd, but if you do receive payments in different currencies you’ll most probably get your money back from the savings in exchange.


#14

I’m also having this issue and i know that i wont get a reply for a couple of weeks and having my revolut account is crucial to my business. On top of that im paying for a service which isnt operational whist this is happening!


#15

you mean you are getting the temporarily disabled message?

when did you message them via business.revolut.com’s chat? did you request “unique IBANs”?


#16

Yes it was temporarily disabled and then I have now been informed my account has been closed due to it lying outside of the risk boundaries for them. However, they would not explain any detail as it was sensitive information which I don’t understand seeing as I surely own all the information on that account. Oh well was good while it lasted just seems ill use spendesk now, they reply a lot faster to issues too.


#17

Hello!
How long time Revolut spend for decision to close the account in your case? Did you remit the balance to you bank without problem? In may case, I am waiting already 2 weeks for any repose. My company have money frozen on account. Actually, it would be better to close the account to get money back.


#18

Hello Olga,

I have a question.
How to speed up the reviewing of our account («Naftaship SIA»)? Two weeks our business account is blocked and reviewing by Revolut. We are a shipping company and cannot wait for so long time. May be we may close the account and remit the balance to our another bank account?

Brgds
Valery


#19

@rafael_revolut can surely get someone on the chat for you, I saw him around.


#20

Dear Revolut team!

Our account is blocked for a several weeks. We were said we should wait for reviewing of the account but we can not wait so long.
Please advise how we can close it and remit the balance to another our account with different bank.

Best regards
Valery


#21

Unfortunately, neither @olga_revolut nor @rafael_revolut has been around Today. Try contacting @revolutapp via twitter or facebook; they will get someone on the chat for you.


#22

Hello @valery1 and other Revoluters :wave:

We have also heard many of your questions and concerns about accounts being locked. I would like to briefly address them here.

The team is working to complete the process of account verification as quickly as they can, but sometimes it may turn out to be a little bit more time-consuming.

Around 95% of the time, the account review happens in minutes. A slight delay may happen for a number of reasons, for example, we work with a wide variety of partners, so we sometimes need to get their perspective on a given case.

We have heard your concerns regarding the long waiting time, and we have been working with the team to improve the quality of your experience.

Of course, all affected account holders are notified about the account lock via chat and/or email. Business chat support is the right communication channel to receive updates from our team.

P.S. You can find information about account usage restrictions here: https://www.revolut.com/pl/business-terms?lang=en :arrow_right: 17.1 - 17.5 & 19.1

Kind regards,
Olga


#23

Thanks for your reply Olga. The actual problem imho isn’t really that an account is blocked or the time an issue takes to be resolved; The problem is not getting feedback quickly and often enough considering the degree of anxiety on our side.

Even if it’s a simple but daily reminder you haven’t forgotten about our case, what’s the current state and, that we should expect something by @insert_date_here@.

Especially for business account it’s critical to be able to know we can trust the institutions that deal with our money and keeping us in complete silence for days without any clue if the solution is “around the corner” or it will take too long for us to meet our own business constraints and if we need to find a temporary alternative solution to honour a contract or we can simply wait knowing it will be sorted in time.