Received payment but then Revolut froze the account - what to do?

Support
1

Hi I received a payment on Revolut from a buyer on Bisq. But then Revolut froze my account asking me to provide documentation about the source of this “income”.

  1. what should I answer? that I was selling my BTC on Bisq? or should I lie that I sold a mountain bike?
  2. since I don’t know yet whether Revolut will refund this payment, should I confirm the payment in Bisq, or should I open a “dispute”?

I am still waiting for the Revolut App to allow me to provide any documentation about the source of the funds. Will have to wait for that before I can proceed.

2

A suggestion that someone I know usually gives, and that I like because it tells the truth without telling what it is, is “database editing services”.
Regarding the payment, it will likely take some time to definitely process until it’s completed, whatever the outcome will be, so certainly out of the allowed trade period for revolut, and anyway this goes, consider this payment method as burnt for you.
I would probably communicate with peer explaining the situation, and then open mediation to have a mediator supervise the developments. If buyer is cool with it you could avoid a penalty, which is in order even if not directly your responsibility, as you are liable for the payment method you choose

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3

Out of curiosity, how does “database editing services” tells the truth without telling what it is? (The truth is that he received payment for selling crypto)

OP, any news on your case?

4

The blockchain is a distributed database, by sending or receiving transactions you are effectively editing a database

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5

I decided to confirm the payment and take the potential loss. Revolut say they are reviewing my case and it will take 10 days. Then they might ask me for all sorts of documents. Apparently, something triggered their fraud alarms. Still, I havent done anything wrong. So I will keep pressuring them until they give me the account back.

6

Please let us know about the developments on this situation, as it will surely interest other users as well.

7

Ok, Revolut now un-froze my account without asking me any questions.

Here’s what happened:

I received a payment from a Bisq trade but wasn’t able to wire it on to my other bank account. My account was frozen. Then I noticed a message in the Revolut app asking me to verify the source of the payment. But I couldn’t upload any documents because the app said that page didn’t exist.

I then contacted support. They said my account was under review and it would take 10 days to complete the review.

I kept bugging support every day with polite questions. Then on day 5, support simply said they un-froze my account! And I was able to wire the funds out.

Weird! But that’s what happened.

1 Like
8

you should consider at this point if you want to keep trading with that account, maybe try small amounts only to check the waters

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