Not upheld: unauthorised transactions / disputed authority complaint against Revolut Ltd

Decision detail

Summary

Mr P, on behalf of company A, complained to Revolut about approximately £300,000 in payment transactions made from A's Revolut business account in August 2024, claiming they were unauthorised and made by Mr M without proper authority. Revolut refused to refund the transactions, arguing Mr M had proper authority. The ombudsman found that Mr M held the necessary authority under a valid Power of Attorney document signed by Mr P on 18 July 2024, which explicitly granted authority to manage and make transactions on the Revolut account. The complaint was not upheld as the transactions were authorised.

The Ombudsman's reasoning

The ombudsman found that Mr M held the necessary authority and permissions to make the amendments to A's Revolut account under a valid Power of Attorney document signed by Mr P on 18 July 2024. The PoA explicitly granted Mr M authority to open, manage and re-authorise access to the Revolut bank account. Since Mr M had proper authority at the relevant time, the transactions were authorised and not unauthorised as claimed. The ombudsman also noted that Mr P had the opportunity to pursue the matter with Revolut during initial contact but chose not to do so, and by the time he contacted Revolut again substantively, the transactions had already been completed.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website