Consumer complaint received 2025-02-18 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Banking errors
Company: Revolut Technologies Inc.
State: NY

Complaint narrative:
I am submitting this complaint against XXXX XXXX for deceptive advertising and failure to honor the advertised interest rate ( APY ) for its Metal plan XXXX account. I subscribed to XXXX XXXX plan on XX/XX/year>, under the clear advertisement that I would receive a 4.25 % APY on my XXXX account. However, after subscribing, I discovered that the interest rate applied to my account was only 3.50 % APY. Revolut 's customer service refused to rectify the issue, claiming that the lower rate was correct, ignoring the proof of their advertised rate at time of subscription, and providing no meaningful resolution. 

Details of the Issue False Advertising I subscribed to the XXXX XXXX plan on XX/XX/year>, explicitly because it was advertised as providing 4.25 % APY on savings. 

Since XX/XX/year>, I have maintained a balance of about {$170000.00} in my XXXX account under the XXXX plan, expecting to receive interest at the promised 4.25 % APY. 

Upon checking my account on XX/XX/year>, the actual interest rate applied was only 3.50 % APY, contradicting what was advertised at the time of subscription. 

I have attached screenshots proving that Revolut advertised the 4.25 % APY rate at the time of my subscription. 

Revolut 's own customer service agent confirmed that the APY for the XXXX  plan was 4.25 % before XX/XX/year>, and changed to 3.50 % on and after that date, meaning I subscribed under the impression that the higher rate would apply. 

Customer Service Failure and Bad Faith Responses I immediately contacted Revolut customer service on XX/XX/year>, via chat to report the discrepancy. 

Revoluts chat assistant and live agents refused to acknowledge the issue, instead repeatedly stating that the current rate was 3.50 % APY. 

I provided evidence ( screenshots ) of the 4.25 % APY advertisement on XX/XX/year>, yet Revolut representatives ignored the proof and continued providing automated responses. 

The final response from Revolut falsely claimed that my screenshot showed an investment account APY rather than a savings APYthis is demonstrably incorrect. 

Furthermore, Revolut 's own agent later confirmed that I subscribed on XX/XX/year>, after the advertised 4.25 % APY but before they implemented the lower 3.50 % APY rate, which contradicts their claim that I was properly informed. 

Financial and Personal Losses As a direct result of this misrepresentation, I have suffered financial losses due to receiving a lower interest rate than what was promised. 

Additionally, I have paid {$16.00} per month for the XXXX XXXX plan under the expectation that I would receive 4.25 % APY. 

Attachments - Screenshot of Revoluts advertisement for 4.25 % APY dated XX/XX/year>. 

- Screenshot of my XXXXXXXX XXXX subscription on XX/XX/year>. 

- Screenshot of my account showing only 3.50 % APY applied. 

- Full chat transcript with Revolut customer service detailing their refusal to honor the advertised rate, customer service 's confirmation that I subscribed on XX/XX/year>, and that the interest rate changed on XX/XX/year>, proving that I was misled by outdated or misleading marketing materials. 

I request that the CFPB investigate this matter and take appropriate action against XXXX XXXX for its deceptive practices.

Company response to consumer: Closed with explanation