I am the Chairman of a new Crypto Investment Club called Hodlrs.
We set up a Revolut account in our Treasurers name to accept Membership Fees for the Club.
We chose Revolut as unlike traditional banks, it is sympathetic to working with cryptocurrency.
We have had no issue with Members paying fees into his account until yesterday, when the account became blocked - with no suggestion of how to unblock it.
We have tried contacting support via the chat, but no replies.
We need access to the Membership Fees in order to make the investments required, which are time sensitive. Blocking our account and not giving us a way to unblock it is not acceptable business practice really.
If we are unable to invest these funds we are likely to miss out on a £1.4 million return.
As this is currently outside of the Clubs control, the Members may be able to pursue Revolut for financial recompense.
This is not my own particular account that is blocked, it is the Club Treasurers - E Coleman.
Our website regarding the Club can be found at hodlrs.co.uk
Please help us resolve this issue as soon as possible.
FWIW: I did contact support before opening the Treasurers account to make sure what we wanted to do would be acceptable and was told it would be fine, no need to use a Business Account as we are a non-profit