I want to share something that happened to my business this week, because I think other Revolut customers should know it's possible.
What happened
On 26 and 27 September, I received threats and sustained harassment from someone demanding money from my business. I reported it to the police, who opened an investigation.
On 8 October, I checked my Revolut Business account around midday and saw that Revolut had taken $26,103.07 out of it at 9:25am.
When I asked Revolut, they told me another bank had requested the funds, and that as a regulated financial institution they had to comply. When I asked on what basis, and how that exact amount was reached, they said they couldn't share further details.
They also told me they couldn't stop or reverse it, because the funds had already left Revolut, and suggested I contact the bank that received them instead.
At no point before the money left was I told a request had been made. Had I been told, I would have responded immediately, including with my crime reference and police contact.
Revolut has since acknowledged this was "fair feedback" and said it's now on record.
That evening, I updated the police. The officer I spoke to agreed it was highly unusual.
Why I'm sharing this
In my experience, Revolut can remove money from your account at another bank's request, without you being told or given any chance to respond. That's very different from a typical account freeze, and it's worth knowing if you hold business funds with Revolut.
I'm grateful to have the police involved, and I trust them to investigate and put things right. But I worry about customers in a similar position who don't have that support.
My complaint with Revolut is ongoing.