Not upheld: account closure and fund deduction complaint against Revolut Ltd

Decision detail

Summary

B complained that Revolut unreasonably closed their account and deducted £1,000 from the balance. Revolut had blocked the account twice in July 2025 to review transactions, ultimately deciding to close the relationship and return the £1,000 to the original sender based on a fraudulent payment claim accepted by the sending bank. The ombudsman found that Revolut's actions were reasonable and proportionate, as they had regulatory obligations to monitor accounts, the concerns were justified, and they acted in line with their terms and the sending bank's recall request. The complaint was not upheld.

The Ombudsman's reasoning

Revolut, as a regulated financial business, has legal and regulatory obligations to monitor accounts and prevent financial crime. The concerns prompting the reviews were reasonable and the questions asked were appropriate. Account blocks during ongoing reviews are proportionate and in line with regulatory obligations. Revolut has broad commercial discretion to close accounts for any reason provided they follow their terms, which they did. The £1,000 deduction was justified as the sending bank accepted the fraudulent payment claim, and B had no direct relationship with the sender.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website