Not upheld: missing payment / payment in error recovery complaint against Revolut Ltd

Decision detail

Summary

Miss B, representing her limited company N, complained that Revolut failed to properly investigate and resolve a missing £1,000 payment sent to the beneficiary's old bank account on 26 September 2025. After Miss B initiated Revolut's payment in error recall process, the beneficiary's bank claimed to have returned the funds within two working days, but Revolut stated it never received them. Revolut requested further transaction details from Miss B to trace the returned payment, which she refused to provide. The ombudsman found that Revolut correctly executed the payment under the Payment Services Regulations 2017 and took reasonable steps to recover the funds, and that no evidence confirmed the returned payment reached Revolut. The complaint was not upheld.

The Ombudsman's reasoning

The ombudsman found that Revolut correctly executed the payment in accordance with PSR 90(1) as the unique identifier (sort code and account number) were valid and the payment was received. The account was existing and open, so the payment was properly executed. Regarding recovery, Revolut took reasonable steps by contacting the beneficiary bank and requesting further information to trace the returned payment. The ombudsman was not persuaded Revolut possessed the returned payment as no evidence (such as statements or transaction details) confirmed the payment was transferred back to Revolut. The complaint about complaint handling fell outside the ombudsman's jurisdiction as it is not an FCA-regulated activity under DISP 2.3.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website