[FR] Revolut Account blocked
I'm a small business owner, 5 employees.
I opened a Revolut business account, more than two years ago, to manage my foreign exchange EUR to GBP to pay my only supplier not EUR based. Revolut is not my only bank, as I also have two French bank accounts.
After opening the account I discovered the treasury app, where I could store my cash in excess against 2% interests, capacity of cash out day in, day out. Which was great, meaning no need of careful treasury forecasts, as i could push the cash when I was in excess, and pull it when I was in need.
After couple of weeks, Revolut treasury became my clear and only place where my cash in excess was stored. And it was working great until Revolut decided to froze my account 10 days ago.
Back in April, I received KYC requests, all documents were pushed and approved, with an email confirmation on 20th April, which confirms all documents were approved and account was fully operationnal.
Until Revolut decided to block my account 10 days ago, "Internal security checks" reason.
The support chat has been totally unhelpful, only saying they will let me know, once the issue will be solved, without being able to give a date of resolution.
On my side, I have wages to pay, suppliers to pay and investment to make.
I comes particularly at the wrong time, as we started to make office renovation and I need to pay our contractors.
My business is going to be largely impacted as I cannot deliver my customer if I do not have the capacity to pay my suppliers for raw materials. and same goes for employees wages.
I should not have trusted Revolut with my cash in excess as it cannot be considered as a safe banking partners, and this is a mistake I will not make again in the future.
As far as you know, how long this situation can last?
Thanks for your feedback.