Revolut run around. help!

Jontymar

hi Guys, hope someone can possibly help. To cut a very long story short, after 8 weeks of my revolut account being under review (frozen) I recieved a note saying that they could no longer offer me an account and that any fund would be sent back to original source. - I’m not bothered tbh, their customer service is none existent. 

So after 5 days of no funds I started trying to chase them. Which is harder than finding shergar.

i managed to reach out to them and got a reply about 2 days later. Saying it had been send in the 14th July faster payment. 

I checked with a real bank and of course nothing recieved. I messaged them back, and didn’t get a reply back for 2 weeks. In which they again said it had been sent and hadn’t been returned. My reply was ‘ nationwide are willing to go on record to say that no funds have been sent to the financial ombudsman and 30 mins a later I had a mail saying that the money had indeed been mysteriously returned. ( that’s amazing ) could I confirm my bank details of where it was going to and it would be sent. ( this is all via email) I did that and was told they would update me when they had an update. 

That’s 5 business days now and nothing has been recieved and they are ignoring my emails ( again)  it’s over £3300. 

This ‘saga’ has now lasted 3 months from the day they froze my account. It’s impacted me financially, physically and mentally. It’s made my life so difficult. Missed bills, payment, struggles for food. They dint seem to care. 

I’ve raised a case with ombudsman but they are taking up to 4 months assign people to cases. I’ve written a12 page report that I’ve sent with screen shots dates and times. 

Anyone have any idea what I can say to revolut to make them action the transfer instantly. I’ve notice that when I’ve requested something which they are legally obligated to do they action it. 

Is there a code of conduct that they should follow for returning funds? The account was shut on the 14th July, so for that
length of time they ha e effectively stolen my money. Why can I do why are my rights ?! Please help someone e please. At my wits end 

DebtHurricane

Hi Jontymar,
Didnt want to read and run, so try phoning the FOS to explain the issue is leaving you with no funds. 

At the moment, the Ombudsman are taking on average 4 months to even start to look into a new complaint. 

BUT if you explain this is causing severe financial difficulty they have an ability to fast track the complaint. Call them! Hope this helps

Jontymar

I can’t belie can’t believe there isn’t more that can be done ?! All these people on this forum and literally 1 person has answered ( thank you ) I e tired this and it hasn’t worked 

eDicky

What didn't work, phoning the FOS to plead severe financial hardship..?

Revolut is certainly no place to be keeping £3.3k, instead of in the Nationwide account that you apparently have. Revolut are notoriously difficult to converse with about any problem that arises, as it sounds like you may have already known.

What was the reason for your account being frozen? There is the possibility that your source of funds is still being investigated, about which they are prohibited by law from informing you, and instead they are only inventing excuses for delayed payment of your funds.

Jontymar

eDicky said:

What didn't work, phoning the FOS to plead severe financial hardship..?

Revolut is certainly no place to be keeping £3.3k, instead of in the Nationwide account that you apparently have. Revolut are notoriously difficult to converse with about any problem that arises, as it sounds like you may have already known.

What was the reason for your account being frozen? There is the possibility that your source of funds is still being investigated, about which they are prohibited by law from informing you, and instead they are only inventing excuses for delayed payment of your funds.

Hi Edicky, thanks for your notes. You are correct the investigation was carried out and ended on the 14th July, they couldn’t give me any update until the 14th where they said all funds had been returned to original source ( that was my account anyway) but I chased them for a month and they kept saying it had been sent. They produced a faster payment ‘confirmation’ for the 14th. It never arrived. 

And 7 days ago they confirmed the funds had been returned to them and they would send again. 

Now they aren’t even answering my emails. They have confirmed I’m due 3300 back. And confirmed it will be sent. But just said ‘we’ll update you when we have more information’ 

so revolut have said they have my money it is to be returned to me, but they physically aren’t doing it or replying. 

I’ve been to the financial ombudsman I have a case and I’ve explained, the hard ship it’s causing. They just say they are busy they have marked it as urgent but it can take up to 4 months to be assigned an agent. 

Legally, what can I do here ? What can I say to revolut to get my money back? 

colsten

All you can do is wait for the investigation to finish. Revolut will be waiting for the result of the NCA investigation before they do anything further.

And hope that Revolut don't go bust in the interim, as money with them has no FSCS protection. But that's presumably a risk you deemed acceptable when you decided to keep £3.3k in the account?

Jontymar

colsten said:

All you can do is wait for the investigation to finish. Revolut will be waiting for the result of the NCA investigation before they do anything further.

And hope that Revolut don't go bust in the interim, as money with them has no FSCS protection. But that's presumably a risk you deemed acceptable when you decided to keep £3.3k in the account?

Colsten, the investigation finished over a month ago. 

14th July is finished. And they decided to return the money to original source according to them but nothing has been recieved.
And yes I hope they don’t go bust, thanks for that really help full support thought! 

colsten

If you believe that the investigation has been completed, send them a Letter Before Action by registered letter, and if they don't respond in time, raise a Money Claim Online.

Thrugelmir

Something triggered the review. While you have rights. The bank more importantly has regulatory responsibilities that will fulfill to the letter. If this causes delays so be it. 

Jontymar

Thrugelmir said:

Something triggered the review. While you have rights. The bank more importantly has regulatory responsibilities that will fulfill to the letter. If this causes delays so be it. 

So let me be clear, the review HAS ended. It ended on the 14th July. I don’t have a problem with that. What I do have a problem is that they are returning the funds. Or supposed to be. They say it was sent 14th it wasn’t, last week they say the had it returned to them and would send it straight away. 

7 days later... still nothing. 

So what I’m asking, is legally if a bank says it’s returning funds ( which they have clearly ) is there a legal or regulated time frame they must do it in? Cause that’s since the 14th July. 

Forget the review, it happened it finished. They confirmed that they would transfer me out my money. 

Jontymar

sorry to sorry to be clear, the 14th July....