Bitcoin Forum

In February, I sold a bitcoint to 3 buyers on the Localbitcoins site for a total of 1000 EUR.

Buyers transferred the amount to the my Revolut bank account.

The Revolut then suspended my account.

A month later, my account was permanently canceled by Revolut, and my deposit was returned to the original source.

I wrote to the 3 customers on the site of Localbitcoins, but I have not received a reply yet.

What can I do ? Lost the 1000 EUR?

First, post some evidence (screenshots, chat logs, transaction id, etc...) and a better explanation of what happened.

Try contacting Revolut. Localbitcoins probably can't do much, and I doubt that the other customers (which bought your coins) will do anything. Maybe the money they had on Revolut was malicious, so that's why your account was blocked. In this case, they are the scammers. Anyways, only Revolut can tell you why they blocked your account.

Revolut answer :

We cannot disclose any details regarding the review of the account or point out a reason that has raised our concern, due to security reasons.

Account closed :

https://i.imgur.com/5s6Ii7i.png


Localbitcoins answer :

Unfortunately, the user does not have any Bitcoin left in their wallet - this means that we will not be able to provide you with a refund for the trade. This is because once a Bitcoin trade has been released the buyer can withdraw the Bitcoin from LocalBitcoins. Bitcoin transactions cannot be reversed, this is the way the currency is designed. Because of this we cannot return the Bitcoin to you.

Nobody can help you without further details.

Also do not confuse Revolut with a bank. It is not.

They only offer pre paid debit services and only got their banking licence 4 months ago.

No new services based on that licence have been launched since.


Sadly this is no scam. It is part of their T&C's and you should have been more careful. Sending directly from Localbitcoins was obviously a bad idea, and I can't imagine why people would even do this.

Are you confusing revolut for a crypto debit card? It is not.

I can give you any information you can help!

You did not explain briefly. Most of we are not familiar with Revolut account (https://www.revolut.com/). Most likely this is a internet banking only. I am not sure why you had use this bank instead of your local bank.

However, only buyer could help you. Try to contact with buyer if he is honest then he would return. Honestly I did't used Localbitcoin also. But we know that bitcoin isn't reversible. So I don't think even Localbitcoin could help you. 

Dude. Can you please not post when you don't know what you are talking about?!

Revolut is not a bank. I said it before and I'm saying it again.

If you had looked into it before posting you would now there is no such thing as a banking service offered by revolut. Also they don't offer any account, only a prepaid debit card.

Bingo. You need to escalate the issue with Revolut by following their own procedure:
https://www.revolut.com/legal/complaints-policy/

You need to clarify that you are seeking to establish whether the closure of the account was an issue with you as the account holder, or the senders of the funds deposited to your account.

Explain that you need to know if it was due to the latter so you can raise a criminal complaint against the localbitcoins users responsible in the hope that they can be traced by law enforcement and possibly (albeit highly unlikely) recover your bitcoin/funds. In any event you are entitled to more of a response than simply, "we can't tell you", seeing as they literally emptied your account without notifying you.

At the very least they are required to advise you of the procedure you need to follow in order to fully establish the nature of the decisions they took in returning the deposits to the originating accounts.  Be that through a formal complaint with them, the financial ombudsman or, indeed, Action Fraud UK (https://www.actionfraud.police.uk/)

I have submitted a formal complaint to Financial Ombudsman Services, no answer yet.

How can close an account without any justification?

I'm not the only victim, there are more groups on the Internet.

Links :


https://community.revolut.com/t/my-account-had-been-suspended-for-no-reason/31448

https://www.reddit.com/r/Revolut/comments/8x9y7a/account_suspended_6th_time_indefinitely/

https://metabubble.net/payment-cards-bank-accounts/revolut-a-victim-of-their-own-success/

https://imgur.com/gallery/AiBwZ7h

https://www.thisismoney.co.uk/money/saving/article-6080085/Customers-locked-Revolut-accounts-left-lurch-abroad.html

https://community.revolut.com/t/blocked-account-how-fix-it/48364

https://www.zdnet.com/article/revoluts-clumsy-automated-fintech-bank-compliance-results-in-frozen-accounts-and-lack-of-customer-service/

https://www.reddit.com/r/Revolut/comments/8gnk9o/revoluta_racist_and_xenophobic_application/

https://imgur.com/a/cZEpdP8    (The most common Revolut customer service answers)

https://twitter.com/revolutbank

https://www.reddit.com/r/Revolut/comments/av51nl/after_6_weeks_of_the_account_being_suspended_they/

https://www.reddit.com/r/Revolut/comments/av06lz/revolut_account_blocked_money_taken_as_a_hostage/

https://www.finextra.com/newsarticle/33454/tales-from-the-dark-side-of-the-revolut-revolution-cfo-resigns

https://www.independent.ie/world-news/police-assessing-revolut-over-money-transfer-complaint-37881412.html

https://www.businessinsider.com/revolut-week-from-hell-2019-2

https://www.youtube.com/watch?v=9e-NBr8ulxc    https://www.youtube.com/watch?v=g5yFqC6BAPE

https://www.reddit.com/r/Revolut/comments/aiuncd/do_not_use_them_everrrr/

https://community.revolut.com/t/revolut-has-me-hostage/26575

https://community.revolut.com/t/revolut-stole-eur6-000/28475

https://www.reddit.com/r/Revolut/comments/arpjdf/blocked_account_and_money_without_reason_revolut/

https://www.reddit.com/r/Revolut/comments/9wyd0a/warning_revolut_just_scammed_me/

https://www.thisismoney.co.uk/money/saving/article-6080085/Customers-locked-Revolut-accounts-left-lurch-abroad.html

With these results and feedback, It's too obvious that this site is just the same from these exchange that scams there users randomly, better to not use them. It's not just the OP of those site has an issue but there are some users who commented who faced the same.
Though I saw some of the complaints got resolved their issues by refunding them from the company but it takes days or even month.

I have no idea for the solution!   :'( :'( :'( :'(

Revolut closed the case and returned the bank transfers.

Localbitcoins can't do anything.

Police Position: It's a civil case

What was the profile of the seller on Localbitcoins ? Does the name matched on the profile and in the Revolut operation ?
This may very well have happened if the bank account access and details they used were hacked/stolen.
And this also would be a reason for Revolut to close an account.
If there was any claim regarding a particular transaction, they better shut down the account instead of investigating further as their aim is to become "the Amazon of banking".

The seller was me!  :D

Buyers had many positive feedback.

The buyer who bought for 800 EUR sent a payment document and a copy of the ID card. I know the name, address, email address and phone number of the person.
I wrote an email to her, she didn't answer yet. I can't call he because I don't speak German.

If you can write in english, I guess you can also call her and talk to her in english, right?

I don't quite get it.

You sold BTC, and she sent you a wire transfer to your Revolut account?

Your BTC-> HER

HER -> FIAT in your Revolut account?

He bought me BTC. He sent the SEPA transfer to my Revolut account. I sent him the BTC.

Plain and simple. He scammed you.

Exactly. The buyer most probably used either others' (stolen) account details and money, either filled a complaint asking the money back (although I don't know how can that be done).

I was always afraid to sell Bitcoin directly to persons exactly because this kind of scams still happen. Sorry.

But the buyer sent a copy of his ID Card and proof of payment.
Can a scammer do this?

Unfortunately, yes. I remember that guy, for example. They can also forge fake IDs matching details of stolen bank accounts.

https://bitcointalk.org/index.php?action=profile;u=2151991

My account was blocked in February 2020. I was told that Revolut needs to check my account and when this check is completed they will notify me.
No time frames, no specification of the reason for this blocking, no access to funds and to trading platform! They just blocked my account with the balance of about 10 000 USD.
I wrote them again several times via their support chat. The chat does not connect me to any live agent. No reaction, no response, total ignoring.
I have found them on Twitter. After sending a message asking about my issue I received a templated reply saying practically nothing new: account is under review and they can’t give me any other information.
After 2 months of waiting I have sent them an official email complaint and in 3 days received the same standard reply with no specific information about time frame and reasons.
It seems like they just don’t care about their clients. No phone numbers to call. No respect.
After 10 weeks of silence I have sent another official email complaint to UK Financial Ombudsman Service and is now waiting for their reply.

It's simple. You were scammed.
Basically, whoever bought BTC from you paid you with a stolen credit card. And the real owner disputed the charge, and you Revolut account was immediately under suspicion.
Since you mention 3 transactions, it was probably the same scammer who did it. And since you got 3 complaints / disputes, they cancelled your account.
It's a simple as that. Happened to me on paypal way back in 2014

I think everyone should read this up about Revolut if you’re having similar issues. I just found this on on a revie site.

https://www.trustpilot.com/users/5e92fffbe638eb1f70cbc1d6

Scam everywhere, I feel worse than the covid epidemic 19.
People should be more alert when trickery is becoming more sophisticated.

FYI: instead of replying to a problem from yesterday, you replied to something from one year ago.
(I'm telling this because you should learn to pay attention to such details).

This company going to incorporate in usa , do they gona scam Us citizen too?

 Hi everybody.
I was using Revolut from autumn 2018. From October 2019 I have a Metal plan (Premium user). I used my Metal card for several payments in the the store and small cash withdrawals (less than 300 euro), and my Revolut account for several SEPA transfers within EU (under 200 euros). I also used Revolut trading platform for stocks trading.
In January 2020 I have received a 7000 USD transfer from the US company who owed me this money. When I have tried to withdraw this amount I have received a push-notification in Revolut app saying that my account is temporally limited for some security review and I need to provide some additional information to Revolut. An access to account was blocked. The only option I had was to contact Revolut support team via their in-app chat. After four hours of waiting one of the team member contacted me asking to verify my identity. Then they asked me questions about my source of funds and the nature of the recent transfer. I have provided all the necessary information including pdf-documents required. The communication process was very slow and lasted for the whole day long. I was told that Revolut needs to check my account and when this check is completed they will notify me.
No time frames, no specification of the reason for this blocking, no access to funds and to trading platform! They just blocked my account with the balance of about 10 000 USD. It happened at the beginning of February.
I wrote them again several times via their support chat but received no answer. The chat does not connect me to any live agent. No reaction, no response, total ignoring.
I have found them on Twitter. After sending a message asking about my issue I received a templated reply saying practically nothing new: account is under review and they can’t give me any other information. After that they just blocked me on Twitter so I can’t write them anymore.
After 2 months of waiting I have sent them an official email complaint and in 3 days received the same standard reply with no specific information about time frame and reasons.
It seems like they just don’t care about their clients, no matter if you are premium or standard user. No phone numbers to call. No respect.
After 10 weeks of silence I have sent another official email complaint to UK Financial Ombudsman Service and is now waiting for their reply.
Keep this information in mind and be careful with Revolut. They can do whatever they want whenever they want with your money, and you might have many problems getting them back. If you are a Revolut client try to find other alternative before they block you with no prior notification.
P.S. At the end of the day, after 5 months of inactivity Revolut finally contacted me telling that they are closing my account due to their "internal policy" with no detailed explanation. Within next 2 months they returned about 80% of my money back to my card (that was initially used for topping up Revolut account) and to my account with another bank (asking me to provide a bank statement with valid account details). No more deals with this fintech Revolut!!! Stay away from it!