My Fight With Revolut Continues

If you read my previous post, you noticed it ended on Revolut telling me, After reviewing your account, we’re sorry to say that due to exceptional circumstances we’re no longer able to offer you our services and we’ve made the decision to permanently close your account.”

I, of course, deemed that unacceptable and informed the customer service agent as such. I also received a response from my email to the customer complaints department. 

After reviewing your account, we’re sorry to say that due to exceptional circumstances we’re no longer able to offer you our services and we’ve made the decision to permanently close your account.

 Day 11

They replied:

I have investigated the problem that has led to this complaint, and I have gathered all the data I need in order to provide you with our Final Response Letter. My role in the process has been to review all the information available so as to propose a suitable and fair solution to the concern you have raised.

Nevertheless, according to the section 24 of our[Terms & Conditions which you accepted, we may need to temporarily or permanently restrict your account. Furthermore, in the section 27, we mention the following:

    We will not be responsible for losses resulting from us failing to meet our obligations for payments into and out of your account because:

        of a legal or regulatory requirement; or

        unforeseeable events outside our control, which were unavoidable at the time.

 Although we determined Revolut is not at fault and is acting according to the regulatory requirements, we strive to provide the best possible experience and all complaints and feedback are reviewed and taken seriously.

If we didn’t meet your expectations, you may refer your complaint to the UK’s Financial Ombudsman Service free of charge.

Best regards,

Filipa

I want to repeat something Filipa said, “We will not be responsible for losses resulting from us failing to meet our obligations for payments into and out of your account.” Basically saying we put a clause in our T&Cs that says we can do whatever we want. If we screw up your account and you lose money from it, we don’t care.

My reply to that

Hi Filipa,

I’ve already filed a complaint with Financial Ombudsman Service.

The issue here is that your service failed to stop this transaction from happening or provide me with an explanation as to what happened to my account, using your T&Cs as a cover.

    You allowed someone to access and transfer all the funds out of my account without my authorization. How did this breach occur?

    You were notified within minutes so that the transaction and could have been stopped or reversed it, which you chose not to do.

    You locked me out of my account and have provided me with no information so that I could investigate the issue myself, such as the account number or name that which the funds were transferred.

Your very own code of conduct says you intend to “act with integrity,” and “treat customers fairly.” I have seen none of this in the way your company has responded to me. Nore, do you resolve customer “complaints and queries promptly and fairly.”

From what I found, this goes to larger unethical business practices by Revolut I have posted this to LinkedIn, Reddit, and other social platforms and received responses of this same thing happening to other Revolut customers, which I am compiling to reach other organizations besides FOS. If Revolut wants to be a bank, they need to behave like a bank and that involves protecting the funds of its customers.

In, that email, I also tracked down a few email addresses and cc’d a few executives.

  • Vladyskav Yatsenko - Co-founder & CEO
  • Nik Storonsky - Co-founder & CEO
  • Daniel Clifton - Head of Complaints, Director
  • Lesley Smith - Vice President Corporate Communications and Public Affairs
  • Martin Gilbert - Chairman of the board

The Same Day

Sitting at my desk working, I noticed a Revolut icon pop-up on my phone. I assumed it is the same “you have no funds in your account” notification I’ve been receiving. Instead, it was a notice that my account has been unlocked and I can access my account. No money in it, of course, but to make up for the problems I’ve had, they gave me a trial of the “metal plan” for a few months. How nice!

What I also found out was the account they sent my money to, with Barklays, was named Barklays in the app. This should have been a total red flag for them to stop the transfer before it went through. Sending all the money from an account seconds after a new payee was added, and the name on that account happens to be the name of the bank.

Braking this down, first they tell me they are not going to do business with me and close my account. Then after emailing a few people, my account is re-opened.

I go back to the app customer service and continue the argument.

Day 17

Mai

I apologize for the delayed response, I have finished checking your account. As for your query, the funds have been reverted to Barclays bank. Kindly contact the bank to receive your funds, and they will refund the money, which belongs to you.

Me

You are the ones who sent the funds. Not me. You contact them and get them back. I could have done that on day one but you wouldn’t give me the bank information that it was sent to. Now it’s day 17 and you think Barkley’s is going to let me call them and request they transfer money back from an account that happened over 2 weeks ago.

Mai

I will be sending you the transfer confirmation here in our chat, you may contact the bank directly to refund your money.

Me

I just did and they told me exactly what I expected they said you need to log the issue with them, there is nothing they can do by me contacting them.

Mai

Thank you for providing this information. I have reached out to the relevant team regarding your concern. As soon as we have received a response from them, we will inform you right away.

Me

If you guys gave me a pound sterling every time you said “relevant team” I’d have my money back.

Day 18

Some statistics on this so far about this issue.

  • LinkedIn Views: 198,000
  • LinkedIn Shares: 18
  • LinkedIn Likes: 240
  • LinkedIn Comments: 70
  • Reddit views: 2,900
  • Rddit comments: 30
  • Upvotes: 60%
  • Twitter Impressions: 431
  • Facebook People Reached: 137

  • Blog post views: 43

  • People I've convinced not to get an account or close their account: 4 or more.
  • Amount of money Revolut has spent in labor hours replying to me in the app, email, and social media: ?



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