"Verifying" my source of funds... ...forever

Sorry to bring this to the community, but despite being a big Revolut fan (and a premium user with “priority support”), I feel helpless.

  1. I topped up a large but not extraordinary amount (~1500 eur) from a credit card on my own name. The irony is that the money is actually from Revolut, I transferred it there a week before…
  2. I got the “account restricted, verify your source of funds” message. I uploaded all documents they asked within 30 minutes.
  3. After 3 days (despite the promised 48 hours), I contacted support asking what’s taking so long. I got “transferred” to compliance department, so chat shows “waiting for an agent”
  4. Two more days passed, absolutely no change, no replies from support, account still restricted.

With planning to leave for the USA in 10 hours, I’m basically screwed. I understand that Revolut needs to occasionally verify funds, however it should take 1 day max after the user uploads all documents. Also, the “priority support” I purchased with premium is simply ignoring me.

Having said that, does anyone have advice how to get in touch with them? Twitter, facebook, tagging @AndreasK, or anything?

9 Likes

generally contact them through social media if you want a timely answer.
as it seems :r: suffers huge growth pain regarding the recruitment of compliance people which results in long waiting times to solve the reviews.

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Yeah but still it should not affect the users.

One thing is to grow a company fast and another is to mindfully affect negatively the already existing users who should not find themself in a situation when they cant have access anymore to their account.

I think it would be more convenient to everyone if Revolut would ask the new users to provide the supporting docs related to their fund verification, let’s say latest by 90 days after their opening of a Revolut account.

Like this the new users could opt to the best and most convenient timing for them when they wish to do so. They can be more prepared rather than putting them in a situation where such verification cannot be foreseen.

Usually, the new users are more vulnerable hence they don’t fully understand and master the Revolut app. And when they are discouraged or feel neglected due to their bad experience they can make the worst advertising… which is counterproductive for the fast grow…

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Very similar happened to me a while ago.

No response at all for at least four days, despite the 48 hours message.

Once you’re assigned to compliance, there is nothing you can do but wait.

The team must be tiny, or they get a lot of these cases…

Very shoddy service

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For the record, my funds were verified on the fifth day and my account unblocked.

On the other hand, the number of documents they asked was abusive: ALL bank transactions from the last three months, payslips, statements of investments, a receipt for my car sale, screenshots of online banking showing my name and balance… these are very private data that even conventional banks don’t ask for. All my top-ups are from bank accounts or cards on my own name, showing that the money was already mine (and deemed legal by conventional banks). If I had, let’s say, cash deposits, then I’d understand the caution, but here I feel I’m paying for Revolut’s cheap package with my data.

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I went through the process recently and it took several days. (I was lucky, I wasn’t in a hurry.)

Suggestion for users: if you’re ever going to need Revolut in a hurry, verify your source of funds some time soon while you have plenty of time. (I know this doesn’t help @Szak1 now though. :-/)

Suggestion for Revolut: prioritise your premium customers in the compliance queue. (From @Szak1’s account, I guess this isn’t being done at the moment.) This would also give people a way to pay to escalate if they were in a big hurry.

1 Like

If you feel the extent of disclosure was excessive, complain! Nothing will change without complaints

I don’t have much faith in revolut to change this. They need a bigger compliance team…