Revolut Scams

We speak to victims of APP fraud from all banks. Customers often ask us whether they can get money back from a bank transfer when they have been scammed, and the answer is yes that victims may be able to get a refund.

The fraud figures for each bank have not been published publicly, so there is no exact figure on how many of their customers fall victim to fraud or how many are refunded. However, a recent publication showed that 77% of Revolut cases independently reviewed led to the result being overturned in the customer's favour. Therefore, you really should look at your rights or seek help fromRefundednow if you've been a victim of a scam and lost money from a Revolut account.

Bank transfer scams are systematic, but are unfortunately not APP scams have grown massively in size in recent years, with fraud losses in 2021 topping £583.2 million in the UK alone. Of all APP cases being reported, We believe this is likely to be an underestimate.

If you are a Revolut customer and you have lost money to a scam, you should contact your bank. Often when you call the bank, they will explain why they think you are responsible for the funds that were lost. But you don't need to accept that answer, and figures show shown that a very large number of cases rejected by their bank have been overturned on appeal.Refundednow can help to get your money back from the bank if you have been scammed.

Revolut is covered by the PSR's Mandatory Reimbursement regulation. This means that they're expected to refund customers, except for when they can prove that the customer acted with gross negligence.

It had not signed the historic Contingent Reimbursement Model Code (relevant to bank transfers from 2019 to 7th October 2024), sometimes called the authorised push payment scam code. This means that Revolut had not signed up to the stronger protections for fraud victims that the Contingent reimbursement model provides than some banks have.

Regardless of whether the contingent reimbursement model applies, Chase Bank should be protecting fraud victims by responding to fraud trends and taking steps to stop fraudulent payments. The area we have seen customers of Chase Bank contact us about is where they have been tricked into sending large sums of money into cryptocurrency without being asked any questions by the bank.