Revolut- Student Loan sent to old account details

So I was waiting on my student loan going in to my Revolut on Tuesday but the payment never arrived after double checking my account detail on the Student Finance England website it seems that after applying for my student finance in February 2019 Revolut updated their account’s provider and my loan was sent to my old account detail which I would think are dormant/closed. This should of triggered the BACs payment to be returned automatically but after speaking to Student Finance they have told me that the payment has not been returned and on the BAC’s system it is showing as credited there has been no ARUCS (Automated Return of Unapplied Credit Service) message/code sent back to Student Finance.

First off this is a massive emergency, with out this Student-Loan/Grant I’m unable to pay for the in class help which help manage my disabilities while attending my university classes which start this coming Monday.

I need this sorted out and some help ASAP. The in App chat i’m just getting the scripted talk.

Please Help!

I’ve been incontact with Prepay Technology Ltd who supplied the last account’s held by Revolut but had no luck with them.

Student Finance have said they can recall the payment but this will take some time and it will be much faster for the bank to sort out.


Contact Revolut in app and ask them about it. Select live chat. You can also try Twitter or Facebook if live chat isn’t working for you.

Others here have had payments going to the old account and being credited, but I’m sure there was a cut off for that to happen.

Go back to in-app chat, and just type agent. Then a real agent will come shortly to help.

I suppose it will fall down to whether Rev still has access to the old account numbers. Given that this was a supplier change, I think that might be quite a hope.

Think this might end up with the sender having to recall - but it’ll be Rev who will have to answer that difinitively.

Thank’s for you help people, I’ve already been back on to Rev in app support you just get the scripted line of the payment will automatically return to sender within so many day’s ranging from 3-30 days depending on who you chat with.

Student finance have said that the response they got back to the BAC’s system was the payment has been credit with out a problem.

Now trying to put this to Rev is like stubbing your toe on corner of the settee and going back another turn.

The problem with Student finance putting a recall on the payment is that can take upto 4 weeks.

Surely Rev should have access to the old supplier details especially as it was just a couple of months ago that the change over happened. And they can check weather the payment has bounced back or just sitting there.

BACS payments can be recalled within 24 hours, after that, its much more complicated. The sending bank has to request the payment back from the receiving bank, and with some banks that takes time. I think there is a two week window in which they have to return the money or refuse.

If its within the first 24 hours, then it will be returned within 3 working days, after then you are looking at up to two weeks. As its sent to a closed account in theory there should be no reason for the recall to take a long time, after all the account is closed, so the bank should authorise the return straight away.

If the account is closed, you should allow 24 hours before issuing the recall.

Well the banks do it all, nothing to do with you.

No where should it take 4 weeks though.

The problem is, if they ended there contractual agreement with the supplier, they are no longer a customer. However Revolut should still be able to do more than nothing.

Hi how long did this take to resolve and how did you do it?


Hi, it took about 5 working days for the funds to revert back to Student Finance and 3 Working days for the funds to be in my account after Student Finance resent it to my new account details.

So 8 working days in total.

Some bank accounts will be much faster at returning the funds to sender, but with Revolut changing companies which supply their bank accounts it took a couple more days. A High Street bank I.E Lloyd’s,Halifax,HSBC…etc, they will have the fund returned to send within 24hrs and the BACs system updated with a failed payment message.

Well my payment was due on the 5th of February and still no sign of my payment being returned I’m so worried as this has never happened. N26 are completely useless as they won’t help at all and student finance have asked me to send them bank statements then it can take a further 30 days for them to trace it where this can come back as refused also and the money may never be returned :frowning:

That’s not good, have you doubled checked the details Student Finance have on file for you as I know there was a lot of fraud happening last September-October term time. Also does the payment status on the Student Finance say that the funds have been sent?

The problem with N26 is that they are the receiving bank and do not know anything about the payment until it registers on there BACs download file and if your payment wasn’t in the file they will have no record of it. But I would of thought this would of returned the funds to Student Finance by now. N26 are one of the only banks that will only credit BACs payments that match both first name and surname that the sending inputs when sending the payment so if any of these are different the payment will fall to there back office payment processing team who will look at the details and see if they can credit the payment or not. My guess is that the payment is with them, if I was you I would get a payment confirmation from Student Finance and send this to them demanding a answer as to where the funds have gone. Student Finance will provide this from the BACs system messaging service which will include your details and the status of the payment.

Hi there thanks for the reply. Other people have also told me it goes in to like a suspense account or whatever. I confirmed with student finance the bank details on the bacs payment they all were correct but N26 even advised me if the payment name doesn’t match account holders name the payment isn’t sent back in 7 working days. Let’s say the last of that 7 days was on Friday so that means if a bacs payment takes 3 parking days it should come back to student finance tonight? My payment expected date was 5th Feb it’s been ages now. As you know with N26 they just give you copy and paste responses and say contact the sender. I’m so unsure what to do here it’s a lot of money and I am having to borrow money putting myself in further debt

More than likely it will register on Student Finance System tomorrow to say it’s been returned. It will be with Student Finance now it just takes over night for it to show up on and your online Student Finance account to change payment status to say returned. In my case Student Finance would not do anything until that had changed. Student Finance will be able to tell you why the payment was return as there will be a code which relates to payment failed reason codes they might be able to tell what was up with it.

Hi so I just spoke to student finance and they set up a bacs payment trace and they’re saying if his fails in 6 weeks they can’t help me after this. This is such a sticky situation if it was a normal high street bank this would be sorted!! No one trust N26 with your money they’re holding my student finance and another outgoing payment for £700 saying I didn’t input the full name of the recipient thank god they’re no longer allowed to bank in the UK