Revolut won’t give me my money back

OceanSound

eskbanker wrote: »

If it had been your wages and needed for essentials then I'd hazard a guess that you probably wouldn't have been sending it to London Block Exchange....

Some of us getting paid in Euro's use revolut. Once in Revolut we convert to pounds then transfer to UK Bank account.

If the UK bank account has to refund the money back to our revolut account for some reason (same as what LBE had done), the scenario that OP describes is likely.

I'd stay away from Revolut.

BTW: the wages you deposit in to revolut isn't protected under the FSCS. They are only covered under Electronic Money Regulations 2011 and the Payment Services Regulations 2009.

That's another good reason for not sticking your wages in Revolut, apart from the fact that they seem to lock your account under 'security' pretenses and take ages to resolve (from what I've read elsewhere).

nyermen

Okay so Revolut are using Barclays as their correspondent bank as they aren't a clearing bank themselves I guess. (in fact, I guess they're not a bank at all as OceanSound says, they're just a payment services provider).
Something still doesn't seem right, if it's been deposited back to their vostro account, then it's down to revolut to take it from there. If it's not (its gone to a different account) it begs the question why.
But I'm not an expert here, maybe someone else has an idea of what goes on between a bank and Revolut (who I would guess Barclays are treating as a corporate customer in their processes?)

beckysheffield

Have you tried Facebook?

circuit

I would advise anyone reading this thread NOT to use Revolut as a main account. We have a business account with them, and have had nothing but bother. Wrong names on cards, features promised and not launching, and very poor support over live chat. We are trying to close this rather expensive Revolut business account and we have been asked to jump through lots of hoops.

Transfers don't come directly to your account either which makes them very slow and cumbersome which appears to be the issue you are experiencing.

IMO Revolut is fine for converting currency but I personally would avoid using it for anything else.