The number of complaints about Revolut is growing. More and more dissatisfied customers

We recently wrote about a story that happened to an Irishman who lost money from his Revolut account. The bank initially refused to return the money, but only after the case was publicized in the media did it return the missing savings to its client.

Bloomberg reported that the number of complaints about Revolut’s conduct towards fraud victims increased sharply in 2023. The complaints are mainly from British customers who have been affected by various cyberattacks. Meanwhile, Revolut rejects the complaints. Thousands of customers have not received a refund of their lost funds, so they have turned to the British equivalent of the Financial Ombudsman Service.

And it paid off for them. In half of the reported cases, the Financial Ombudsman agreed with the injured parties. The number of complaints against Revolut was well over 2 thousand, which means an increase of 35%. Revolut returned the money, but did not change its policy – it still rejects most of the complaints submitted.

According to the FOS report, the number of complaints about money being stolen from accounts is a generally growing trend. It is the highest in the last 10 years. In 2023-24, more than 80,000 complaints were received, compared to 60,000 the year before. Fraudsters are becoming more creative and using increasingly perfidious methods to extort money. In order not to be scammed, we must be careful at every step.