Just an FYI to all.
Revolut just sent me a message that they are closing my account.
Asked if I can provide whatever info they need to keep it opened, and they didn’t want to dsicuss it, and didn’t care.
They pointed to their terms and conditions and would not provide a reason why they are closing the account, just that they have decided based on their right under their terms and conditions.
Even after submitting an offical compliant, they said the decision is final and won’t provide any reason why they are closing the account.
De-banked! Just like that.
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Thank you for reporting this.
If you feel you can, you could provide some info about your trading pattern so to discuss what might have triggered their reaction.
In any case, this is not something new obviously, and fiat banks do close accounts apparently at random.
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Every few weeks, transferring money in, converting it to respective currency required to complete the trade, sending funds. Only making payments, not receiving funds.
Did that for a few years and then all of sudden got a message of account closure.
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makes sense to a point, you were not generating revenue for revolut, for example paying purchases with the card
They were earning fees from currency conversion 9 times out of 10 transactions.
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oh I see… probably they though the costs of running AML checks on your transactions were not covered by the exchange fees then