Revolut - Closing Accounts and keeping money!

MrsJollypops

Today I received an email from Revolut to say they closed my account today, without any prior notice.  
I tried to enter my mobile app but can't get in, it just spins round and round, so tried to find a contact number and couldn't find anything.  Managed to get on web access, firstly I could only see my English account balance, but knew I had euros.  Spoke to chat who confirm there were euros on the account and then suddenly I could see it online but there is no option for me to transfer the funds to my bank account.
I've been on online chat for nearly 3hours and I'm still no further forward ....ARGH...

Anyone else int he some position? Anyone had there's resolved?

I really don't have time to spend on chat sorting it with them as currently have a lot on and need to look after people in my life requiring 24 hr care.

dr_adidas01

MrsJollypops said:

Today I received an email from Revolut to say they closed my account today, without any prior notice.  
I tried to enter my mobile app but can't get in, it just spins round and round, so tried to find a contact number and couldn't find anything.  Managed to get on web access, firstly I could only see my English account balance, but knew I had euros.  Spoke to chat who confirm there were euros on the account and then suddenly I could see it online but there is no option for me to transfer the funds to my bank account.
I've been on online chat for nearly 3hours and I'm still no further forward ....ARGH...

Anyone else int he some position? Anyone had there's resolved?

I really don't have time to spend on chat sorting it with them as currently have a lot on and need to look after people in my life requiring 24 hr care.

What’s this got to do with Credit cards as Revolut is not a credit card? 

You probably should have posted this in the Budgeting and bank accounts forum. 

The_Urbanite

So, the thing with the new, challenger bank, prepaid accounts etc.

You don't keep any money in them.

They can shut the account and stonewall you and there is no recourse. The Financial Ombudsman Service aren't functioning properly and if you're fortunate, they may allocate you a case handler after a few years.

You can try raising a formal complaint, following their process correctly, then escalate to the FOS, but be prepared for a very long wait.

eskbanker

MrsJollypops said:

I could see it online but there is no option for me to transfer the funds to my bank account

Hopefully if you have an actual bank account you're not relying on any significant money left in an unprotected facility like Revolut?

Re "Closing Accounts and keeping money!", you'll get your money back as long as there's no valid reason for them to retain it (e.g. fraud, etc).

Edit: should perhaps have added '....and as long as the company remains a going concern'!

born_again

Sounds more like a suspended account due to either wanting some documents or other investigation. Thus is blocking any movement of funds.
Sadly you will have to find some time, as it is the only way to resolve.

The_Urbanite

eskbanker said:

MrsJollypops said:

I could see it online but there is no option for me to transfer the funds to my bank account

Hopefully if you have an actual bank account you're not relying on any significant money left in an unprotected facility like Revolut?

Re "Closing Accounts and keeping money!", you'll get your money back as long as there's no valid reason for them to retain it (e.g. fraud, etc).

I wouldn’t feel reassured by that. I lost £250 to Kube, who never returned the money before closing down and been in dispute with Pockit for several months - they’ve had all documents they’ve asked for and 5 months on all they can say is they can’t say how much longer their review will take.

Revolut have been known to stonewall people too so I really would not trust these kind of companies with anything.

penners324

The_Urbanite said:

So, the thing with the new, challenger bank, prepaid accounts etc.

You don't keep any money in them.

They can shut the account and stonewall you and there is no recourse. The Financial Ombudsman Service aren't functioning properly and if you're fortunate, they may allocate you a case handler after a few years.

You can try raising a formal complaint, following their process correctly, then escalate to the FOS, but be prepared for a very long wait.

Utter nonsense 

penners324

The_Urbanite said:

eskbanker said:

MrsJollypops said:

I could see it online but there is no option for me to transfer the funds to my bank account

Hopefully if you have an actual bank account you're not relying on any significant money left in an unprotected facility like Revolut?

Re "Closing Accounts and keeping money!", you'll get your money back as long as there's no valid reason for them to retain it (e.g. fraud, etc).

I wouldn’t feel reassured by that. I lost £250 to Kube, who never returned the money before closing down and been in dispute with Pockit for several months - they’ve had all documents they’ve asked for and 5 months on all they can say is they can’t say how much longer their review will take.

Revolut have been known to stonewall people too so I really would not trust these kind of companies with anything.

Stop using your accounts for dodgy transactions

The_Urbanite

penners324 said:

The_Urbanite said:

eskbanker said:

MrsJollypops said:

I could see it online but there is no option for me to transfer the funds to my bank account

Hopefully if you have an actual bank account you're not relying on any significant money left in an unprotected facility like Revolut?

Re "Closing Accounts and keeping money!", you'll get your money back as long as there's no valid reason for them to retain it (e.g. fraud, etc).

I wouldn’t feel reassured by that. I lost £250 to Kube, who never returned the money before closing down and been in dispute with Pockit for several months - they’ve had all documents they’ve asked for and 5 months on all they can say is they can’t say how much longer their review will take.

Revolut have been known to stonewall people too so I really would not trust these kind of companies with anything.

Stop using your accounts for dodgy transactions

Define dodgy?

[Deleted User]

Basically anything they don't like, probably the crypto stuff

Thrugelmir

The_Urbanite said:

penners324 said:

The_Urbanite said:

eskbanker said:

MrsJollypops said:

I could see it online but there is no option for me to transfer the funds to my bank account

Hopefully if you have an actual bank account you're not relying on any significant money left in an unprotected facility like Revolut?

Re "Closing Accounts and keeping money!", you'll get your money back as long as there's no valid reason for them to retain it (e.g. fraud, etc).

I wouldn’t feel reassured by that. I lost £250 to Kube, who never returned the money before closing down and been in dispute with Pockit for several months - they’ve had all documents they’ve asked for and 5 months on all they can say is they can’t say how much longer their review will take.

Revolut have been known to stonewall people too so I really would not trust these kind of companies with anything.

Stop using your accounts for dodgy transactions

Define dodgy?

Anything unusual or abnormal. Retail banking is very straightforward transaction wise.