Revolut: Frozen Bills

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    Absolutely free of a charge bank account in a matter of minutes: The proposal of Revolut had great success among the customers, especially in Switzerland. Still, right now, dozens of clients are waiting for months for their bills to be unblocked; it seems like an ongoing problem.


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    The clients of Revolut, in the social networks, use each opportunity to systematically remind the audience of their fate and the freezing of the bills.


    The hundreds of people ask for help to return the money. They feel contempt from fintech, Europe’s most valuable. The fintech has over 12 million clients in 35 markets, 350,000 of which live in Switzerland.


    For example, there is a woman who waited 7 weeks for the bill to be unblocked. The bank has required the customers to send them tax reports and then to send the data of the persons who have sent the funds.


    If a person has not given any reports on other persons, Revolut simply froze a bill without adequate notification. And after then, the money is still blocked. The daily demands to talk with the customer support service are ignored.


    There are many other customers with the same experience. There are over 5 hundred reports of the customers in Revolut’s forum, dated by the end of 2017 and the past August. For example, a customer claims that each time he sends a requested document, he receives a request for another.


    Really, Revolut has difficulties with the frozen bills, which are very similar to the seizure. Revolut received so many reports, so the financial director of Revolut was fired.

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    In addition to that, the company’s representative also says that info about Peter O’Higgins (former financial director of Revolut), who has been forced to leave Revolut due to false speculations, is incorrect.


    Through everything, in February, the bank has made Priorité anger, a company that works in close cooperation with the French government. The bank has frozen Priorité 2 bills by a total of 300 thousand euros by 6 weeks, without informing of the circumstances.


    All these cases can have negative consequences for fintech. The task of this new service is clear enough for everyone.


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