Perfect
It was the best banking experience when I open the account . Thanks to Revolut..
-1 Star if I Could
I never expected to be writing a review like this, but I feel people should be aware of the risks before putting all their trust in Revolut.
Recently, Revolut closed both my personal account and my business account without providing a clear explanation. I received notification that my accounts would be closed, but no specific reason was given. Even more frustrating was being informed that there was effectively no right to appeal the decision.
Before this happened, I had experienced issues with transfers. Money that I sent was returned, and certain payments were subsequently blocked. Despite using the accounts for legitimate purposes, I was left with no meaningful explanation as to why these actions were taken.
What made the situation even more stressful was that I also held investments through the platform, including shares and cryptocurrency. Once the closure decision was made, I was told to sell my shares, liquidate my crypto holdings, and transfer out my funds as soon as possible. I was also informed that if I failed to do so within the specified timeframe, charges of £2 per month could apply.
The biggest issue for me is not necessarily that a financial institution has the right to close accounts—they generally do. The issue is the lack of transparency and the impact it can have on customers who rely on the platform for day-to-day banking, business transactions, savings, investments, and digital assets. Having both personal and business accounts closed at the same time can be extremely disruptive.
To be fair, I recognise that the vast majority of Revolut customers appear to have positive experiences. Perhaps 99% of users never encounter a problem and continue using the service without issues. However, if you happen to be in the remaining 1%, the experience can be very stressful, inconvenient, and potentially costly.
My advice to anyone considering Revolut is simple: enjoy the convenience, but do not rely on it as your only banking provider. Always have an alternative personal account, an alternative business account, and a backup plan for any investments or funds held on the platform. Account restrictions and closures can happen unexpectedly, and when they do, you may find yourself with very limited options.
This review reflects my personal experience. Others may have different experiences, but I believe potential customers should be aware that account closures can occur without detailed explanations, and the consequences can be significant if you depend heavily on the platform.
Recently, Revolut closed both my personal account and my business account without providing a clear explanation. I received notification that my accounts would be closed, but no specific reason was given. Even more frustrating was being informed that there was effectively no right to appeal the decision.
Before this happened, I had experienced issues with transfers. Money that I sent was returned, and certain payments were subsequently blocked. Despite using the accounts for legitimate purposes, I was left with no meaningful explanation as to why these actions were taken.
What made the situation even more stressful was that I also held investments through the platform, including shares and cryptocurrency. Once the closure decision was made, I was told to sell my shares, liquidate my crypto holdings, and transfer out my funds as soon as possible. I was also informed that if I failed to do so within the specified timeframe, charges of £2 per month could apply.
The biggest issue for me is not necessarily that a financial institution has the right to close accounts—they generally do. The issue is the lack of transparency and the impact it can have on customers who rely on the platform for day-to-day banking, business transactions, savings, investments, and digital assets. Having both personal and business accounts closed at the same time can be extremely disruptive.
To be fair, I recognise that the vast majority of Revolut customers appear to have positive experiences. Perhaps 99% of users never encounter a problem and continue using the service without issues. However, if you happen to be in the remaining 1%, the experience can be very stressful, inconvenient, and potentially costly.
My advice to anyone considering Revolut is simple: enjoy the convenience, but do not rely on it as your only banking provider. Always have an alternative personal account, an alternative business account, and a backup plan for any investments or funds held on the platform. Account restrictions and closures can happen unexpectedly, and when they do, you may find yourself with very limited options.
This review reflects my personal experience. Others may have different experiences, but I believe potential customers should be aware that account closures can occur without detailed explanations, and the consequences can be significant if you depend heavily on the platform.
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MYNE
Easy to use
Great app but limited currencies
I have been uaing Revolut for my business for over 3 years now and they have amazing UI UX but unfortunately they don’t aupport some key curremcies for my business such as Georgian Lari to transfer to my team members to Georgia. Instead I am forced to transfer funds to Wise and then transfer to Georgia from Wise. Sad. Hope Revolut adds this currency soon
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Amazing
New to this from traditional banking and loving the simplicity and functionality of this app. Highly recommended
