What would you do if your company’s main bank account was suddenly frozen, with no warning and no way to access your own money? For Edu Forte, CEO and co-founder of the virtual asset manager CommonSense, this nightmare became a reality when his business account with Revolut was blocked, leaving €20,000 completely out of reach.
“Revolut has BLOCKED our account with 20,000 euros inside,” Forte wrote in a public post on his LinkedIn profile. “A completely NEGLIGENT practice, because I can’t call it anything else.” According to Forte, the company received no prior notice, no clear explanation, and no way to withdraw even a single euro. “They have blocked our cards, stopped our transfers, and taken away access to our own money.”
For any business, having access to funds is essential. Companies need money to pay suppliers, employees, and taxes. This is not just an inconvenience—it can threaten the survival of a business. Forte’s frustration was clear: “We are talking about funds that a company needs to operate every day: to pay, suppliers, taxes. This is not a whim, it is the result of our work, of our effort.”
Screenshot of account restricted on Revolut. Image source: Edu Forte on LinkedIn.
Even worse, when trying to get help, Forte could only speak to a chatbot, not a real person. “The worst part? You can’t talk to a human. Only a bot called ‘John or some other random name’ that repeats canned responses that solve nothing, telling you to be patient. No deadlines, no reasons, not even asking for information. NOTHING!”, declared the CEO in a very angry tone.
Forte’s experience is not unique. He points out that many other business owners have faced similar issues. “If you look on Reddit, you’ll see I’m not the only one,” he said. “If you want to close our account, fine. But let us withdraw our money. DON’T HOLD IT HOSTAGE! That money is ours. Earned with sweat, with tears. You have no right to hold it.”
Neobanks are not infalible
After more than five years as a loyal customer, Forte says the only response he received from Revolut was “silence, indifference, and opacity.” He warns others who are considering using digital banks: “Everything is fine… until it stops being fine. In the end, we criticize traditional banks, but these neobanks, when they fail, they fail worse. And they leave you alone.”
Luckily, Forte’s company had other bank accounts, so they could keep operating. But he asks a crucial question: “What if we didn’t have them? What if we depended exclusively on Revolut?”
This experience is a strong reminder for all business owners: never keep all your money in one bank. Even modern digital banks, or “neobanks,” can fail or make mistakes. When they do, you might find yourself alone, with no one to help and no access to your hard-earned money.
Diversifying your business bank accounts is not just a smart move—it’s essential for protecting your company’s future. Don’t wait until something goes wrong to learn this lesson. Spread your funds across different banks, and make sure your business can keep running, no matter what happens.
As Forte urges, “Please, help me share this. So it doesn’t happen to anyone else.”
