What to Do If Revolut Closes Your Business Bank Account?

In recent years, Revolut Business has become a popular banking alternative for startups, freelancers, and international companies thanks to its fast onboarding, low fees, and multi-currency features. However, Revolut—like many fintechs—can suspend or close business accounts without prior notice, often leaving users with questions and no immediate access to funds.

If you've received an email or in-app notification that Revolut has closed or suspended your business bank account, this guide will walk you through:

✅ Why this happens

✅ Immediate steps to take

✅ How to recover your funds

✅ Alternative fintech and banking options

✅ How to prevent this from happening again

Why Revolut Closes Business Accounts?

Like any financial institution, Revolut is obligated to comply with strict financial regulations, including AML (Anti-Money Laundering) and KYC (Know Your Customer) laws. If your business triggers certain risk flags, Revolut may take precautionary steps.

Common reasons Revolut may close your business account:

• 🚩 Suspicious or high-risk transactions

• ❌ Incomplete KYC or verification documents

• 🏦 Receiving funds from restricted sources or flagged regions

• 📉 High chargeback rates or complaints

• 🔐 Regulatory compliance concerns or risk classification changes

• 🕵️‍♂️ Activities that violate their terms (crypto, gambling, financial services without license)

In many cases, the account is first frozen or restricted before being permanently closed.

Step 1: Check the Closure Notice Carefully

Revolut typically sends an email or in-app notification stating that your account will be closed, or has already been closed. This may include:

• A reason (often generic, such as "risk-related decision")

• Timeline for account closure

• Instructions for withdrawing your funds

• Information about appealing or contacting support

If you didn’t receive an email, log into the app or business dashboard to check your notifications.

Step 2: Contact Revolut Support Immediately

Use the in-app live chat or email support@revolut.com and ask for:

• A detailed explanation of why the account was closed

• Clarification on the status of your funds

• Instructions on how to withdraw or transfer remaining balances

• Whether you're eligible to reapply or appeal the decision

Stay polite and professional—support agents typically cannot reverse a closure but may help with fund retrieval.

Step 3: Secure Access to Your Funds

If Revolut has already closed your account or frozen it temporarily:

• 🏦 Initiate a withdrawal of remaining funds as soon as possible

• 🔁 Provide alternative account details for payout (must be in your business name)

• 📑 Be prepared to verify the new account with business documentation

• ⏳ Funds are usually returned within 7–15 business days, depending on the case

If your funds are frozen indefinitely, Revolut must comply with financial regulations and may escalate the case to financial authorities.

Step 4: Find an Alternative Business Bank Account Quickly

While resolving the issue with Revolut, it’s essential to open a new account immediately to avoid disrupting operations.

Fintech Alternatives to Revolut:

• Wise Business – Great for multi-currency accounts and global transfers

• Monzo Business / Starling Bank (UK only) – Traditional-feel banking for SMEs

• Mercury (US-based) – For startups and SaaS companies

If you would like to get a broad list of Fintech that are similar to Revolut or specific bank recommendations tailored to your business, fill out our contact form and we will send it to you by email.

Traditional Bank Alternatives (if fintechs are not suitable):

• Barclays Business

• HSBC

• Santander

• Deutsche Bank

• Lloyd's Bank

If your business is in a high-risk sector (e.g., crypto, finance, forex), consider EMIs or BaaS platforms that specialize in your industry, contact us for an up to date list of such providers.

Step 5: Strengthen Your Business Profile Before Reapplying Anywhere

To prevent future closures or rejections, improve your business documentation and banking profile:

Prepare the following:

• Certificate of incorporation & shareholder structure

• Proof of operations (website, invoices, contracts)

• Updated KYC documents for directors

• Clear business activity description

• Source of funds and expected monthly volumes

• If high-risk: licenses, compliance procedures, and risk assessments

Banks and fintechs are more likely to onboard you if you're transparent from the start.

What Not to Do

❌ Don’t try to open another Revolut account under a different company if you were flagged

❌ Don’t panic or become aggressive with support

❌ Don’t continue operating with frozen funds—open a backup account immediately

❌ Don’t ignore compliance obligations, especially in regulated industries

Conclusion

Getting your Revolut Business account closed can feel sudden and stressful—but it's not the end of the road. Take swift action to secure your funds, contact support, and transition to an alternative business bank. Learn more on how to choose new banking provder with this guide.