A monster of an app!

Several transfers involving amounts of several hundred thousand dollars were held for approximately 80 days while Revolut carried out its review. During that entire period, there was very little meaningful communication and no clear indication of when a decision would be made.After almost three months, Revolut finally decided to return the funds and close the account, again without providing any proper explanation or useful comments regarding the decision.What I find particularly unacceptable is that very substantial amounts of money were kept blocked for nearly three months, with no interest paid and with almost no transparency throughout the process.I fully understand that banks have compliance obligations and need to perform checks. However, holding several hundred thousand dollars for around 80 days, providing almost no meaningful updates, and then simply returning the money and closing the account is, in my view, an extremely poor way to treat a customer.The lack of communication, transparency and reasonable processing time has been deeply disappointing. Based on this experience, I could not recommend Revolut for significant business or international transactions.Update following Revolut’s response:Unfortunately, Revolut’s reply again does not address the substance of my complaint.I never said that Revolut performs compliance checks “without a valid reason.” I fully understand that a regulated financial institution must carry out compliance and AML reviews.The actual issue is completely different: several hundred thousand dollars were blocked for around 80 days, there was almost no meaningful communication during that period, no clear timeframe, no practical solution, and at the end the funds were returned and the account was closed without a proper explanation.Responding by saying that Revolut is regulated and has internal procedures does not answer any of these points.This is exactly what I find so frustrating about the way Revolut communicates: the answers repeatedly avoid the core issue and rely on general statements about regulation and internal procedures instead of explaining how it is reasonable to leave a business without access to substantial funds for nearly three months.From my point of view, this behaviour is abusive.A compliance review may be legitimate. But blocking several hundred thousand dollars for approximately 80 days, while providing almost no constructive information and no workable solution, is in my opinion excessive and unacceptable.Revolut’s public response has therefore not changed my view. On the contrary, it illustrates precisely the problem I described in my original review: standard answers that do not address the real consequences for the customer.I continue to strongly advise businesses handling significant amounts or international transactions to consider this risk very carefully before relying on Revolut as a primary financial institution.

Applicazione e servizi eccellenti, tutto veloce ed immediato. Di facile comprensione ed estremamente efficiente.

After almost four years of customer loyalty, we close our bank account. The service met our expectations, but the compliance department conducts a persistent audit every six months, even though the company’s structure hasn’t changed. The memory of the cumbersome administration lingers longer than the fleeting pleasure of the low price.