Repayment issued in a account under review

lordklax11

So, I`ve submitted my tax return online,and got payment issued on the 22 April, problem is, I made a transfer that day, and Revolut decided to put my account under review, and I`ve been told that any income transfer might be put on hold.I`ve send all the documents they wanted, and today, 27 April they unlocked my account, but the tax money are not in. I`ve phone HMRC and they said that in their sistem the payment has gone thru, and I should call back if it`s not in by Wednesday. Is there any chance that the transfer will go in if now my account is unlocked, or will it not?

colsten

Nobody on a public internet forum can tell you which transactions will be allowed on your personal account. All we can say is that a BACS transfer, which is what HMRC would be using for payments, normally takes 3 working days. Today is the 3rd working day after April 22nd, so if HMRC did actually send the money on April 22, today is the first working day you can expect to get it. If they sent it later......as HMRC advised, if it's not in by Wednesday, call them back.

As an important aside: Revolut is not FSCS protected. If they go bellies up, any money you have in there probably goes with it. There are plenty of alternative accounts with FSCS protection.