Slovenian users of fintech giant Revolut have found themselves in a rather unusual situation. On Revolut’s American website, Slovenia has been added to the list of countries that cannot send money from the US, and cannot receive transfers to the US. In other words: if your uncle from New York wants to send you money for your birthday, he will have to resort to old-fashioned Western Union or revert to bank transfers – Revolut simply won’t let him.
an article written by Jan Macarol – Executive Editor of City Magazine
On the same list Revolution are usually countries that Western financial institutions associate with sanctions, high money laundering risk or unstable conditions: Afghanistan, Iran, North Korea, Cuba, Venezuela … and several other African and Asian countries. It also includes the Russian regions of Luhansk and Donetsk and the Palestinian territories.
Slovenia is a real exotic on this list – the only EU member state to find itself alongside such “global financial superpowers”. Apart from us, the only other countries in the region mentioned are Albania, Kosovo and Belarus. And to make the irony complete: even Antarctica is on the list.
Possible reasons for Slovenia’s blacklisting on Revolut
There is no official explanation, but regulatory and banking experts mention a few possible scenarios: US regulatory filters, Technical error or delay in coordination, Political-bureaucratic collateral damage, System testing before US license.
In Slovenia alone, Revolut is already used by around 180,000 people – almost one in ten residents.
The article in full here
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