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Sunday 24 March 2019

Revolut dismisses money transfer report

A Revolut spokesman stressed that there is no investigation.

Revolut is one of Britain’s few unicorns (Revolut)
Revolut is one of Britain’s few unicorns (Revolut)

By Maryam Cockar, Press Association City Reporter

Revolut has dismissed reports that it is facing a police probe over a money transfer.

The City of London Police received a complaint from a Revolut customer about the length of time it took to transfer £70,000 after bank details were incorrectly entered at the payment stage.

However, in a statement, a Revolut spokesman stressed that there is no fraud investigation being undertaken by the police concerning the company.

He said: “To be clear, this is not a fraud case. There is no investigation into fraud at Revolut.

“One of our customers registered a complaint after funds did not reach their account because incorrect details were entered during the payment stage.

“Our team have proactively engaged with both the customer and our payments partners to resolve the case and to ensure that the funds were located.

“We understand that the customer escalated his dissatisfaction to the police authorities by submitting a non-fraud complaint via the action fraud portal – this organisation has no police investigatory powers.

“We would also like to make it abundantly clear that there is no fraud investigation underway, and we have not been notified of any other investigation by the police.”

The City of London Police’s Action Fraud reporting centre does not itself have investigative powers.

Press Association

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