Topic: REVOLUT - SCAM - STAY AWAY - THEY WANT TO STEAL YOUR MONEY AND DOCUMENTS! (Read 657 times)

Literally same thing happened to me. 4 months in customer support chat until the closed my account and I can't do anything about it anymore. STAY AWAY!

While they do nice changes here and there, I'd prefer them improve first their AI that closes now and then accounts for unclear reasons and also improve the way they offer support to their customers.
Also I don't really understand why you advertise them in a "Revolut is scam" topic (of course, OP was exaggerating, still the topic name remains...)

Revolut has announced a reduction to zero of the amount of commissions for users of the application from the US on transactions with digital currencies in the amount of up to $ 200,000 per month..
Previously, this threshold was $200.

Zero commissions are also set:

for withdrawals from ATMs in the amount of up to $1200 monthly;
for the first ten international money transfers;
for opening up to five accounts for children.

source: https://www.prnewswire.com/news-releases/revolut-increases-its-fair-usage-caps-offering-us-consumers-financial-freedom-301403333.html

Revolut raised $800 million in the framework of the next investment round, which was led by SoftBank (through Vision Fund 2) and Tiger Global Management. As a result of the transaction, the capitalization of the online bank was estimated at $33 billion, which made it the most valuable fintech company in the UK and the second by market value in Europe. https://news.sky.com/story/revolut-becomes-24bn-tech-giant-as-digital-bank-strikes-softbank-and-tiger-deal-12356172

British finance minister Rishi Sunak writes about this on twitter:

What a sad ordeal you went through 

They way they handled things and then even blocked you on twitter for just inquiring about the progress of the investigations on your account is clearly unprofessional and shady. Many of these scammers hide behind the KYC/Account investigation line.

I had never heard of this service probably because it's unpopular. However, am a little curious, What made you opt for it amongst other much more established trustworthy services available?

I was using Revolut from autumn 2018. From October 2019 I have a Metal plan (Premium user). I used my Metal card for several payments in the the store and small cash withdrawals (less than 300 euro), and my Revolut account for several SEPA transfers within EU (under 200 euros). I also used Revolut trading platform for stocks trading.
In January 2020 I have received a 7000 USD transfer from the US company who owed me this money. When I have tried to withdraw this amount I have received a push-notification in Revolut app saying that my account is temporally limited for some security review and I need to provide some additional information to Revolut. An access to account was blocked. The only option I had was to contact Revolut support team via their in-app chat. After four hours of waiting one of the team member contacted me asking to verify my identity. Then they asked me questions about my source of funds and the nature of the recent transfer. I have provided all the necessary information including pdf-documents required. The communication process was very slow and lasted for the whole day long. I was told that Revolut needs to check my account and when this check is completed they will notify me.
No time frames, no specification of the reason for this blocking, no access to funds and to trading platform! They just blocked my account with the balance of about 10 000 USD. It happened at the beginning of February.
I wrote them again several times via their support chat several times but received no answer. The chat does not connect me to any live agent. No reaction, no response, total ignoring.
I have found them on Twitter. After sending a message asking about my issue I received a templated reply saying practically nothing new: account is under review and they can’t give me any other information. After that they just blocked me on Twitter so I can’t write them anymore.
After 2 months of waiting I have sent them an official email complaint and in 3 days received the same standard reply with no specific information about time frame and reasons.
It seems like they just don’t care about their clients, no matter if you are premium or standard user. No phone numbers to call. No respect. It's unacceptable!
After 10 weeks of silence I have sent another official email complaint to UK Financial Ombudsman Service and is now waiting for their reply.
Keep this information in mind and be careful with Revolut. They can do whatever they want whenever they want with your money, and you might have many problems getting them back. If you are a Revolut client try to find other alternative before they block you with no prior notification.

Checkout this reddit postreddit.com/r/Bitcoin/comments/9rkm68/psa_do_not_use_revolut_if_youre_dealing_with/

1) I made purchases with Ebay and Apple.

2) Yes, my phone is "always on vpn" and used the same USA IP for the 2 weeks the account was open.

3) I am a EU citizen.


Oh, as a 11 Year member with Entropay how I dearly miss them. Please come back Entropay.

Next time don't transact with random inactive traders. Problem solved, don't blame Revolut for govt./big bank policies.

I've written to them, but they haven't been online ever since, they rarely buy on Localbitcoins.

If the user that you've dealt with is honest, they will send you the money to another bank. Talk to them.

That's what they tell the laymen. The reality is much much different. 

Localbitcoins has only one user name and the real name.

In Hungary, a financial service provider or bank may only have a public authority order for client money (Police, Public Prosecutor's Office, Administrative Authority, Tax Office)
They cannot reach out to customers' money by themselves!

If they comply with KYC, AML and other laws touching fiat they can do whatever they are required to do. People seem to forget that Revolut works like a bank, and sending back money without notice is known practice. If you deal with something that someone with power doesn't like, then they can't do anything about it. There were many cases of both exchanges and banks doing this or something similar to this.

---

How exactly do you not have any contact information on localbitcoin?

Original Source: Localbitcoins Buyers (No Contact Info)

It is excluded that Relovut Limited can transfer customer deposits freely without the customer's consent.

You did something that you weren't allowed to. Contact the original source.

Here's the end of the story, I lost 1050 EUR.

OP is an idiot.

Stop doing shady shit and you won't be frozen. Read the terms and conditions when you use services @which your money is not your money but an IOU.

Do you have any proof I haven't experience using revolut but I heard that this is only works if you are actually living on EU if you are not living in EU or if they detect that you are not living in EU your account can be blocked. This is just what I heard for some user who still using revolut for marketing in BHW.

Another thing is this one https://www.trustpilot.com/review/www.revolut.com shows more green reviews compared red reviews.
However, there are many user's too are telling that their account are blocked including this one
https://www.reddit.com/r/Revolut/comments/arpjdf/blocked_account_and_money_without_reason_revolut/

You should contact the support first before treating them a scam if what is the real reason behind.

I just registered here on the forum to let everyone know that they are TOTAL SCUMBAG SCAMMERS.

I was using them for 2 weeks and made normal purchases with apple and 2 other places then locked me out of my account, I lost $400 USD that I deposited and here is their response.

"I can see your account has temporarily been locked. I promise that we’ll do our best to get this fixed as soon as possible. This is just a security review whereby we simply need to check a few things about your account. It’s worth mentioning that we cannot provide you with a specific time frame when we’ll finalize the review, but rest assured that we’ll do our best to finish this as quickly as we can. Thanks for bearing with us! "

And it has been 3 weeks and they just hold my money and no information or update! They should be jailed! I am considering making a YoutTube video to bring awareness to everyone.

The suspension took place 10 days ago, did not ask for any documents, did not explain the reason for the suspension.

Why always, when service demands KYC, all call him a scam? Read Revolut's FAQ to find answers, and I advise you to do this every time, before accusing someone.

https://community.revolut.com/t/my-account-had-been-suspended-for-no-reason/31448

https://www.reddit.com/r/Revolut/comments/8x9y7a/account_suspended_6th_time_indefinitely/

https://metabubble.net/payment-cards-bank-accounts/revolut-a-victim-of-their-own-success/

https://imgur.com/gallery/AiBwZ7h

https://www.thisismoney.co.uk/money/saving/article-6080085/Customers-locked-Revolut-accounts-left-lurch-abroad.html

https://community.revolut.com/t/blocked-account-how-fix-it/48364

https://www.zdnet.com/article/revoluts-clumsy-automated-fintech-bank-compliance-results-in-frozen-accounts-and-lack-of-customer-service/

I found these articles in about 5 minutes!

This is actualy the first time that I hear such accusations on behalf of Revolut. They are quite successful and wide spread, with good reputation and quality services they offer so I couldn't agree they are scamers. Obviously you have some problem with them and maybe you haven't explained here all the details but I'm sure that will be solved.
Sometimes users performs some activities that are in opposition with valid terms and conditions of service provider, in this case Revolut, and then problems appear. But like I said I'm sure there is some reasonable explanation for the issue you have.

Is your problem resolved?

They are real scammers. I've had my account blocked for over 2 months and to this day I've never been given a reason or justification. Whenever I ask them when they unlock my account, they respond: "We are reviewing your account when we finish letting you know." I have money there and I am unable to use it. Not to mention the Bitcoins I have there and they have already devalued a lot since they blocked my account.

Serious advice: Never put your money in Revolut. They are thieves.

Revolut isn't a scam, also they are going to enter the Russian market with the support of QIWI wallet (It's still doubtful if they enter in Russia because current business owners hate to see them) and believe me, they aren't scammers, even better than any other known wallet service provider, the fact is that russian online wallet service providers aren't as famous as skrill, neteller and others.

Somewhat agree only... I have spent hours wasting breath on bank employees. Sure, at some banks especially as an "expat" I get customised attention and almost immediate attention but basically get the same unhelpful advice and excuses, just by a person in a nice suit and fancy title.

That said, I was a user of revolut with no issues, but I am hearing more and more account blocks now, especially with friends from Turkey after recent sanctions. Blocking accounts for so long is criminal so feel bad for user rebecca. Hope their rep comes in here and explains.

@ rebecca0
You get what you pay for. This is where the neo-banks suck compared to the traditional banks. When you need support it can be a pain in the ass. When you need support with a traditional bank you just give a call or email your banker. This is how the neo-banks make money, fewer employees (not bankers), fewer costs, outsourcing in Tier 3 countries with call centers

Based on what I experienced on Revolut it's not a scam. There are many Revolut users abuse their service like making multiple Revolut accounts and make a multiple VCC that is why they are strictly restricted on KYC verification.

I'm honestly, one of the users who abuses their service, but I stopped last year for marketing purposes. If you know about Bing ads and Google ads you can use a Revolut VCC for making unique Bing ads with a free coupon and advertise for free.

So this is I think the reasons why they are asking so much document about new Revolut users and they make sure that the new user is unique and I think Revolut support can help you about the issue and I am sure that they can verify your account if they verify that you are a unique user.

Hello,

I think I will invite here someone from the revolut team because I don't have any problem with revolut.

have a nice day/ evening

About Revolut Scammer
Revolut customer service is the worst!!!
My business account is under review for 2 months already, but this nightmare started much more earlier.
 It started when I became the director of the company. The previous director has passed me activity along with the business account and I had been using it for a couple of months, till one day they have blocked the incomes and I wasn't able to do any payments/transfers. Chating with them is a real "bliss". For one week they have bounced my case from one team to another, TO THE RELEVANT TEAM as they like to say, then they asked me to make changes in the account which I wasn't able to do, and not because I don't know how but because the sistem wasn't allowing...and... it took another week till they realized that and made the chages themselves. Then they have asked to add the new director as the admin of the account, then they have requested a ton of proofs, which i have provided by the way: contracts from the period when I wasn't the director yet, payslips, selfies, proof of address, proof of ID and so on... After I have provided them all of these, instead of activating the account they have disabled it with 40000 pounds on it, and is under review since then. It is nonsense!!! I am extremly angry and realy confused. Do you realy need so much time to review a case? And what is there to review? It's not like I have done anything wrong. It is the same company, doing the same activity with the same contractors and employees. I am starting to think that it smells like scam and am now affraid I will not see my money again. The service itself is great, you have a lot of opportunities, low fees, and so on.. but the customer service "$&%£", 'cause you know - when something is too good then there's obviously something wrong with it, just to keep the balance in the universe. If there is something that Revolut has tought me is that you can not trust anyone without proofs, so everything that I wrote I can proof with screenshots of our "delightful chat".
 I am pretty sure that there are hundreds of victims of Revolut just like me and if everyone will report them to Ombudsman Financial Service it will surely make a difference.

It s so funny you stress the fact you talked to a slavic girl while your nick is tsvetomir69. Damn, that nick sounds so British!

Revolut works quite fine, you do need to get used to the fact verification is must have for any serious company. Anonymity only helps scammers, people who want to avoid taxes and launder money. None of these I want to see in crypto.

I suggest you calm down and try again.

Hello,

Well I guess sometimes there are indeed technical issues and some clients may have problems, that's why there's a service called "aftersale services". Any business can have bugs and technical issues.

I took a revolut card and I'm very satisfied with it, I wrote a thread about it in the french section. Many friends of mine took it and everything is fine with a very nice aftersale service on twitter.

I don't understand why some people are so nervous and angry just because they did have a little problem but the worse they say fraud, scam and so on but when the problem is solved, they don't come back to apologize. Please send us the links which shows all the unfortunate revolut clients who claims please ?


I find revolut fast, cheap and very easy to use.

PS : Who can say that he never had problems with his bank account, even in a very famous bank ?

I bet you didn't read the verification process in the FAQ before you register on the platform. some of this site required alot of verification and the process is rigorous. I have as well experienced this when i was trying to open an account on 10bet. I had to forget about the account and look for another betting site that does not require KYC before i can bet. one thing i find stupid about this site is that they will not ask you to complete kyc when you want to deposit fund. It is after you have deposit they will start asking for document. What stop them from asking for the document before allowing users to deposit.

How interesting! There is a similar project Saifu. Have not you heard anything about him? Sorry that is off topic. So I think, is it worth it to expect from Saifu?

This is unfortunate.
How did you topped up your account?
By debit card, by credit card, by bank transfer?
What happened to your transaction?
Was it completed or reversed back to your bank you tried to fund revolut?
Have you contacted support and they refuse to help you?
All these seem odd to me and would be helpful for all of us if you provided more details about the case.

Revolut issued a prepaid Mastercard for me and I transferred €100 to top up my account. However they refuse to credit your account due to a "technical issue" on their side. If this is not a fraud, please kindly explain the fraud definition to me.

I filed a complaint with the FCA and the information I provided has been logged against Revolut as part of FCA regulatory responsibilities. Moreover, FCA forwarded my complaint to the Financial Ombundsman Service AND asked me to to communicate this case to ACTION FRAUD, who are the UK’s fraud and internet crime reporting organisation. I will make a police report still today.

I am by far not the only one, who suffered from Revolut, the internet is full with reports from unfortunate Revolut clients, whose money "disappeared" after being sent to Revolut. Again, if it is not a fraud, what is that? Greediness, stupidity, incompetence, or combination of all above?

Any case, combating fraud is important for every individual and the entire community. I lost "only" € 100, but I will not stop until the founders and executives of Revolut have been brought to justice.

I use one since more than one year, it worked in Europe and Asia. It's NOT a scam.
It's called AML compliance. Please DYOR before posting scam accusation.

I am sure Op must wished he had just taken some extra effort to have read what they have in their FAQ section which is pretty straight forward but just came on the forum to tarnish the name some people took their time to build over the years. It would even be better if he had asked for reviews from anyone who had used it before rather than calling it an outright scam and not even scam accusation. This is a further confirmation that a lot of noise about scams are actually because people chose not to read or do their research because with that in place, 60% of scams won't even occur and another 70% of false scare won't even happen.

Agree with both of the above replies.
I am a revolut customer for about 2 years now and overall i am satisfied with their service.
Sure there might be a delay in the csupport from time to time, but this is due to high volume and not because they want to scam you.

Revolut is not a scam. Perhaps you would be wise to do the most basic due diligence with any service you intend to send money to: background research on Revolut is very easy.

They're a so-called neo bank based in the UK (meaning they don't require a full banking licence but are recognised and regulated by the British because of cooperation with an existing licenced bank, or in Revolut's case, with GPS), and is already in the process of getting a banking licence in the EU.

In fact, if you're dealing with a service that is anywhere close to being legitimate, you bet your ass you'll be expected to provide documentation for verification. Neo banks are actually known to be more transparent with their clients - there's no private account manager to help you forge docs or hide activities.

Also, ID verification in Europe is commonly outsourced to third parties - I didn't run into any problems with auto verification, just like on any other service I currently use - besides, what's wrong with Slavic representatives?

Disclaimer: I'm a Revolut user and I'm not saying they're top dogs or whatever.

I researched a bit and a legit company seems to be registrant of the webpage.
https://www.whois.com/whois/revolut.com
I looked into their faq and they warn their customers to deposit money before ID process, because they would do it on their own risk.
https://www.revolut.com/de/faq#how-can-i-verify-my-debit-card
They need ID verification because of Kyc regulations.
But nevertheless should they provide a proper ID verification procedure.
Try to contact them again and ask them to help you through ID verification.If nothing helps, contact them through their social channels.

I don't think they are a scam at all.
They are a reputable company which has had a high growth in the last few years.
Before opening an account at revolut you should have read their FAQ.
Like in every similar service, they are forced to verify their customers.

So I registered for Revolut yesterday. It was cool at first, I topped up my account with 10 GBP, it went smooth.
But guess what? They allowed me to top-up my account and after I deposited they basically started demanding for all kind of documents.
You want to activate your cards - verification first
You want to send a bank transfer - verification first
You want to breath air - verification first
Need to mention their verification system is a brutal crap, I spend 1 hours trying to take a good photo of my passport and a selfie, promptly did it and verification failed.
Contacted the support and the slavic girl said:
"Hi there, my name is Oleksandra (Sure they are based in the UK). I'll look right into your query!
I will refer you to the appropiate team who is better suited to  help you. Please be patient as they get back to you as soon as possible. Have a nice day"
SAY WHAT??? I WASN'T GIVE A CHANCE TO REPLY TO THAT AGENT AT ALL!
I manually scanned my passport (very high resolution) and took a selfie with my camera, uploaded my documents, and another "british girl"  Aleksandra is demanding selfie with my passport now (they did not mention about sefie with my passport in the verification process).
I told her that I believe this company and all the hidden procedures to be a scam, and I awnt them to cancel the topup (I believe I have the right to cancel in 14 days beingin the EU).
She stopped responding to me. Quite obviously they are scammers!