He claims that thieves were able to access his account by evading the ID verification procedure.
Revolut has thus far declined to return this money.
Revolut was included in more fraud reports over the previous fiscal year than any of the main High Street banks, according to the news.
The e-money company, which has not yet received full bank status, claims to have “robust controls” to comply with legal and regulatory requirements and to take fraud very seriously.
Revolut is one of several new digital-only financial firms that exclusively provide its services online or via an app; they don’t have physical locations.
The company has expanded quickly, gaining over 45 million clients globally, including nine million in the UK. In 2023, its revenue nearly tripled to £1.8 billion. Its accounts offer reasonable foreign currency rates via an intuitive software and are quick to open.
Jack, who manages a global company and must maintain numerous currencies, was drawn to Revolut because of these features.
