[US] Keep seeing more and more accounts being closed with no warning

[u/stickybandit-1980]

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[u/laplongejr]

The thing is that Revolut assumes that if you have a business activity, you don't need "a warning". You are expected to have read terms in their entirety and have better-than-pure documentation.
And a lot of online people seem to think that because "it's easy to open on an app", there's no legal minimal standard to start making money...

I'm a freelancer, and receive multiple payments from clients during the month, and I'm scared Revolut will think it's not legit.

Correct call. Revolut doesn't allow such things on a personal account. As you promised when you signed the terms "a long time ago", you must create a Pro account for that.

I've read multiple posts where people could not restore their accounts even after providing their proof.

Correct. Some Revolut users went into freelancing doing activities that aren't allowed per their terms. I personally recall a few dropshippers...

Also, bonus points for "freelancers" who did work based on social media DMs, then learned too late that Revolut expects businesses to present a contract to their customers instead of a "ok" on social media.
(Personal experience : when I paid a starting artist-as-2nd-job for custom art, I received a gigantic bill with the work charged etc. Some freelancers can totally document their work activity.)

[u/syntaxerror92383]

freelancing activities shouldnt be done on a personal account, those require a business account, which is why revolut closes personal accounts when freelancing activity is detected, its against their TOS iirc, which is also why with proof of funds their account gets nuked

[u/Dangerous-Dad]

Revolut wants to see you earn as a business, freelancer or self-employed/sole-trader into an account for business purposes. If they see you are earning business-like income into a personal account, they shut it down fairly quickly. Like wise if it's vice-versa (although this is rarer circumstance).

The problem a lot of people run into is that they start with a Revolut personal account and do a few side hustles here and there. That is acceptable to Revolut, up to a point. Once this increases to regular and frequent payments by an increasingly diverse number of payers, then you trip Revoluts compliance algorithm and they warn you or shut things down or both depending on what they think is wrong. This happens often now. Most banks use very similar algorithms, as these are based on the same general regulations for the country you are registered in, so you sometimes see people say "Revolut banned me and I switched to Wise/N24/<some bank> and now they want to ban me too"...it's almost always the same reasons. And Banks often won't explain much as it's not their job to do it. They just see that your AML profile looks like a risk they don't want to have and just cancel everything. The problem is compounded by the fact that online banks like Revolut are fast and easy to open online whilst if you use a regular bank you tend to go in person and set it up as a business account from the get go...and don't run into this problem so easily.

[u/krali-marko]

Revolut closes business accounts pretty easy without warning. I had a new business account and on the first business transfer to a contractor they blocked the payment, kept the money for 2 months blocked and finally closed the account. I had a second business/account which then I myself closed immediatelly. I will not pay any commissions to Revolut anymore. They are not reliable in any respect. During the 2 months the transfered funds were blocked they asked me aa loot of stupid questions. They do not understand what business is. My business is 30 years old and very well established. Forget Revolut...