Revolut account frozen

marek8760

Hello again.
Just got confirmation of funds credited to my account from Revolut as compensation for the inconvenience they have caused.
This came to £265.57. Thanks for the advice and support to get me here. there is one more thing I will do with this - for ‘the greater public good’. A family friend who has previously worked in the financial world advised that I could write to the FCA and PRA detailing what has been going on. The point is that it suggests a breach of the principals and is unlikely to be an isolated case, which implies that they might well be trying to shore up their finances by preventing depositors from withdrawing their money. Now the compensation is in, I think I will be doing that.

Suffolkish

I’m interested to know if the FCA and PRA approach worked out? My Revolut account was frozen immediately after - the second after - I put 3000 euros in, to send abroad immediately. 

It’s been frozen since September 6th, and it’s now December 16th… not a word about why. I made  my formal complaint after 8 weeks of chatting with agents about this with no clear idea of when it would end or why it started - I complained about the time taken not being conveyed to me clearly at the start and that complaint was upheld - and they tried to give £100 (immediately frozen too) but that does not come close to compensation. I was only trying to quickly send someone a gift of USDT - so these crypto assets devalued by £600 in the course of this freeze. I was not investing or doing anything for fun - just passing money a quicker way, than a bank transfer.. The FOS say it will be months away - at least 3 months until they can investigate. I’m very shocked at this whole situation. Of course it’s all still frozen. And I feel amazed by reading about your situation that this is a regular feature of their business model; and glad you at least got a reply from the FOS.