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


#24

Thanks for reply.

I can understand how many question gets Revolut. But it is unordinary long time. Our account is blocked for almost 3 weeks.
We can’t get any respond for a 3 weeks. Is there any time limit for that procedure?

Please advise how to initiate a procedure of closing the account with revolut and remit the balance to our another bank?


#25

Hello back @valery1 :wave:

Disabled accounts cannot be closed until they are functional again.

To close a functional account in most cases we will require the business account admin to:

:white_check_mark: normalise the account balance so that it equals 0 in all currency pockets
:white_check_mark: make sure that there are no pending payments or refunds
:white_check_mark: confirm the security questions
:white_check_mark: download the account statement
:white_check_mark: provide us with an official document confirming the number of employees in the company.

Kind regards,
Olga


#26

how is the fine for interrupting the 12mo contract paid then?

may I ask what’s the purpose of this one?


#27

Dear Olga!

Thank you for explanation of procedure of the account closing.

Our story:
Our account was blocked when we try to remit the money to our agents. We have provided supporting documents we were requested. Revolut said that our account is under review. It is already 3 weeks we have no access to the account.

Question:
Is a procedure of blocking the account has any time limits or the account can be blocked for unlimited time?

Thanks in advance
Valery1


#28

Hi @alejandro.mery :wave:

We never fine our customers, but we may ask the account holder to pay the fees in advance so we can deduct them manually from their pocket.

As per our T&Cs, we’re able to terminate accounts belonging to microenterprises before the contract ends. Providing a proof of the number of employees on payroll helps us speed this up.