Many Pp accts cashed out to 1 revolut. Proof of source of income needed??

didi33 · #1 12-01-2020

Hello! I've been using 1 revolut account to cash out many PayPal accounts in the last 6 months.
Today I received a message that I need to provide proof of source of income. What my problem is that the money from the different pp accts were going directly to my revolut account.
Do you have any similar experience? What would be your advice on what to do? What would happen if I don't provide source of income evidence, are there going to be any legal consequences? Are they going to report this to my country? I live in Bulgaria.
I was able to make ATM withdraw and took almost all of my funds already, so my account is not fully limited.

james_112233 · #2 12-01-2020

They think you are a thief and scammer. You need to prove your innocence.

Sorry to be so blunt. But that's usually what the bank thinks until you can prove them wrong.

The worst they will do is close your accounts. And ban you. But that may go on your credit report.

didi33 · #3 12-01-2020

Thank you! I prefer honesty.
Is it possible to prove my innocence since I've withdrawn funds from 20-30 accts to this revolut? It is suspicious to provide so many invoices from PP in different names, yes?
As far as I know, revolut has banking license in Lithuania and all bank accounts with them are transferred from UK to Lithuania. What I am concerned is if they are going to tell my home country they are suspicious about my activity on their app. Am I going to have trouble with the CRS regulations?

james_112233 · #4 12-01-2020

I really don't know. I think it all depends on the amount of money here. If it's significant amounts they may report it. It's common sense that they will to be honest. All to do with money laundering laws.

RedPill · #5 12-01-2020

How much did you receive into the account?, about 30-35k Euros?

didi33 · #6 12-01-2020

Quote:

Originally Posted by RedPill

How much did you receive into the account?, about 30-35k Euros?

10-15k euros only, I have other payout methods.

RedPill · #7 12-02-2020

Someone I know sent just a simple screenshot of a transaction where he topped up revolu from his bank, that was enough to unblock the account and allow top up and transfers. He says that his account still works but he doesn't withdraw to it anymore

didi33 · #8 12-02-2020

What is worrying me is that (just counted) I've withdrawed from 29 different PayPal accounts trough card. Made a top up to revolut from my bank ACC a few months ago and it was to purchase premium plan.
All the incoming transactions together are around 6k Euro.
All the funds from the paypals are from selling on eBay.

rsot · #9 12-02-2020

Quote:

Originally Posted by didi33

What is worrying me is that (just counted) I've withdrawed from 29 different PayPal accounts trough card. Made a top up to revolut from my bank ACC a few months ago and it was to purchase premium plan.
All the incoming transactions together are around 6k Euro.
All the funds from the paypals are from selling on eBay.

Impressive activity regardless - maybe best to speak to financial professional.

At least you have the cash in hand for now

ponciks · #10 12-02-2020

Since the revolution went from England to Lithuania, it is not worth using inappropriate words!
In Lithuania it is forbidden!

didi33 · #11 12-02-2020

Quote:

Originally Posted by ponciks

Since the revolution went from England to Lithuania, it is not worth using inappropriate words!
In Lithuania it is forbidden!

What do you mean?

didi33 · #12 12-04-2020

Shoul I reply to eevolut and say the funds are from sales or just close my account?

james_112233 · #13 12-04-2020

Quote:

Originally Posted by didi33

Thank you! I prefer honesty.
Is it possible to prove my innocence since I've withdrawn funds from 20-30 accts to this revolut? It is suspicious to provide so many invoices from PP in different names, yes?
As far as I know, revolut has banking license in Lithuania and all bank accounts with them are transferred from UK to Lithuania. What I am concerned is if they are going to tell my home country they are suspicious about my activity on their app. Am I going to have trouble with the CRS regulations?

Unless I'm mistaken, you would only need that many accounts if you are burning through them due to selling questionable items.

This has automatically pinged up on revolut's fraud detection team.

No one needs that many stealth accounts if they are simply getting back to normal business after being banned.

I can only wish you the best of luck but it isn't looking good. You will most probably get your money out but they will definitely stop their service with you and whether they report it is anyones guess.

didi33 · #14 12-04-2020

I managed to get out all my money. I am not blocked from making transactions.

I've withdrawn from 29 accts, all money that went through are 6k euro.

I think what triggered their system is that I make a card, link it, withdraw, then terminate the card and there goes the new card. Made much more vcc for a month than 5. 5 is the maximum, you delete one and then get a new one.

I am not sure if I have to respond to the revolut request for source of funds or not.

didi33 · #15 12-04-2020

Quote:

Originally Posted by james_112233

Unless I'm mistaken, you would only need that many accounts if you are burning through them due to selling questionable items.

This has automatically pinged up on revolut's fraud detection team.

No one needs that many stealth accounts if they are simply getting back to normal business after being banned.

I can only wish you the best of luck but it isn't looking good. You will most probably get your money out but they will definitely stop their service with you and whether they report it is anyones guess.

My accounts are active and still not burned, but I have a lot. Not many Bulgarian accounts survive, so the only way to stay active in selling and have consistent profit is by continuously making new accounts.

agent006140 · #16 12-05-2020

just tell them the truth,selling on Ebay using different seller IDs are very common.
you show them your Ebay invoices .if you buy from suppliers,supplier invoices

Jack199 · #17 03-30-2021

didi33 - just wondered if you had an update for us, what happened in the end?

didi33 · #18 06-01-2021

Quote:

Originally Posted by Jack199

didi33 - just wondered if you had an update for us, what happened in the end?

Took the money. Revolut account lost. Submitted documents, the only thing they did not ask for was a blood sample. So couldn't fix my account.
Revolut reported nothing.
Consulted a good lawyer. There is a law for, so called "bank secret", so the amount in any of my bank accounts is a secret even for the government, except if there is some serious investigation against me, which is impossible to happen.
The only thing that revolut might tell my country, is the bank account number I have with them. There is a registry in Bulgarian National Bank (I am not sure if I translate it correctly) for all bank account numbers each individual has and in which banks. That's all.
Apparently some red flags were raised automatically in my Revolut, but I was able to withdraw. Not going to use it again tho.

Aguero · #19 06-02-2021

Quote:

Originally Posted by didi33

Took the money. Revolut account lost. Submitted documents, the only thing they did not ask for was a blood sample. So couldn't fix my account.
Revolut reported nothing.
Consulted a good lawyer. There is a law for, so called "bank secret", so the amount in any of my bank accounts is a secret even for the government, except if there is some serious investigation against me, which is impossible to happen.
The only thing that revolut might tell my country, is the bank account number I have with them. There is a registry in Bulgarian National Bank (I am not sure if I translate it correctly) for all bank account numbers each individual has and in which banks. That's all.
Apparently some red flags were raised automatically in my Revolut, but I was able to withdraw. Not going to use it again tho.

Sorry to hear that.

You will have no issue regarding Revolut and Bulgarian Tax Agency. But bare in mind that Revolut reports info to your local tax agency (NAP) and requires tax number for all clients recently.

https://www.revolut.com/en-FR/help/m...ax-information

You can read more about CRS. All traditional banks and digital banks are required by law to collect info and report. Not sure about the process to EMIs.

Yes, there is a Bank secret law in Bulgaria, but there is a possibilities you bank accounts info to be seen in different situations and from different National bodies.

If you are still using BGpost, please PM me if you don't mind.

didi33 · #20 06-02-2021

Quote:

Originally Posted by Aguero

Sorry to hear that.

You will have no issue regarding Revolut and Bulgarian Tax Agency. But bare in mind that Revolut reports info to your local tax agency (NAP) and requires tax number for all clients recently.

https://www.revolut.com/en-FR/help/m...ax-information

You can read more about CRS. All traditional banks and digital banks are required by law to collect info and report. Not sure about the process to EMIs.

Yes, there is a Bank secret law in Bulgaria, but there is a possibilities you bank accounts info to be seen in different situations and from different National bodies.

If you are still using BGpost, please PM me if you don't mind.

Still can't send PM's. Using Bg post yes.

raAlfa · #21 06-05-2021

I read that you withdrawn from many Paypals directly to the Revolut VCCs, so I have a question: Is it possible to Withdraw to VCCs/CCs with Paypal Bulgaria or which country are you using to do this?

didi33 · #22 06-07-2021

Quote:

Originally Posted by raAlfa

I read that you withdrawn from many Paypals directly to the Revolut VCCs, so I have a question: Is it possible to Withdraw to VCCs/CCs with Paypal Bulgaria or which country are you using to do this?

Yes, bulgarian accts can. To where you intend to withdraw? I might be able to help u.