Why has my account been restricted and how to regain access? πŸ”’

Rob Braileanu

 Β· 06/25/2018  Β· 06/25/2018

Article updated April 2022

There's nothing more frustrating than discovering that your Revolut account has been restricted. But why does this happen? πŸ€”

Revolut is a financial services company dealing with other people's money. Naturally, we have to stick to the rules and regulations governing financial services.

In the UK we are governed by the UK financial regulator - the Financial Conduct Authority or FCA. In Lithuania, which will serve our European customers after Brexit, we are governed by the rules of the Bank of Lithuania. Both regulators' rules are designed to ensure that:

βœ… There is a competitive landscape that supports innovation
βœ… Fair financial services are provided for both customers and businesses
βœ… Financial crime can be detected and prevented wherever possible

So why do some accounts become restricted? πŸ”’

As a regulated company, we have procedures that we can’t avoid. We uphold these to maintain the highest regulatory standards and protect the security of your account as well as our other 13 million customers.

So while regulatory checks are performed, the relevant departments work hard to minimise disruption while an account is temporarily restricted.

Sometimes we might have to work with partners to get the information we need to carry out our procedures - The Financial Times reported on how this happens to all bank customers in this article from July 2020.

Why do some accounts take longer to review than others? ⏳

Occasionally, it can take slightly longer than expected for our relevant team to complete the standard security check of an account. This usually happens when we need to work with external partners to gain their perspective and this may cause a delay.

And why isn't customer support helping me to unlock my account? 🀯

As much as our support agents would like to help, they don't have the power to 'unlock' accounts.

Unfortunately the current regulations don’t allow us to share any information or provide updates while a standard security check is still ongoing.

This means that our agents cannot share information on why your account has been restricted, or how long it will be until the standard procedures are over - the law is the law and it applies to all of us. πŸ‘¨πŸ»β€βš–οΈ

So, what can I do if my account is restricted? πŸ€·πŸ»β€β™€οΈ

Hopefully your account will be fully functional before you know it. If you do find your account is restricted, you can:

βœ… Follow any steps or notifications in your app, which might be to verify your identity or to confirm a piece of financial information
βœ… Make sure that if you’re uploading documents that images and text are clear, they are your documents and they are up to date and valid
βœ… Message us on the in-app chat to find out if there are any details you need to provide (you will need to type 'live agent' to speak to support directly)
βœ… Get documents for your recent transactions ready, so that when we reach you, you’ll have them close at hand!