Revolut still the worst UK firm for fraud complaints, warns Which?

Revolut has once again recorded the highest number of fraud and scam complaints escalated to the Financial Ombudsman Service (FOS).

Data exclusively obtained by Which? reveals that fraud complaints from customers of the e-money provider continue to outstrip all banks, as they did in 2023. 

We've kept an eye on the number of disgruntled customers taking their disputes to the FOS – an informal and free alternative to the courts for financial complaints – and this figure still surpasses that of much larger banks. 

Here, Which? reveals the firms attracting the most fraud complaints, how uphold rates compare, and what the banks have said in response.

Top 10 firms named in fraud and scam complaints

We submitted a Freedom of Information request to the FOS, asking for the top 10 firms named in fraud and scam complaints it received in 2024 and 2025 to date. 

The data is split between authorised push payment (APP) fraud and other scam or fraud complaints. 

APP fraud involves a customer being tricked into sending money to a scammer by bank transfer. In contrast, unauthorised fraud involves criminals stealing money by hacking into accounts, using stolen card details and committing identity fraud. 

Different protections apply depending on the nature of a scam and the payment methods involved. 

APP fraud victims are far better protected since the introduction of a new fraud reimbursement scheme in October 2024, following years of campaigning by Which?. However, with a backlog of fraud complaints, the FOS decisions reflected in this data will likely relate to fraud incidents before this date.

Authorised push payment (APP) fraud complaints

In the 2024 calendar year, Revolut customers referred a mammoth 3,242 APP fraud complaints to the FOS, while the rest of the top three was made up by Monzo (2,344 complaints received) and Barclays (1,704). 

The data covering 2025 to date paints a very similar picture, although Monzo and Barclays have switched places. 

To appreciate the difference in scale, you should know that, while digital rivals Monzo and Revolut have rapidly grown their UK customer bases to more than 13 million and 12 million respectively, Barclays still dwarfs both, with more than 20 million retail customers in the UK (a figure which combines its personal, business and Barclaycard customers).

Monzo has the highest uphold rate of 41% in 2025 – this is the percentage of complaints where the FOS found in favour of the customer – indicating its customers were the most likely to have been wrongly denied reimbursement. 

The table shows the top 10 firms for APP fraud complaints referred to the FOS so far in 2025, along with their uphold rates.

Other fraud and scam complaints

In 2024, the FOS received 2,631 other fraud and scam complaints (not APP fraud) from Revolut customers. The rest of the top three was made up by Monzo (with 1,810 complaints) and Barclays (1,461). 

The same firms are set to be the worst in 2025, according to data covering the first eight months of the year. Revolut also has the highest uphold rate of 37% for non-APP scams and fraud.  

The table  shows the top 10 firms for non-APP fraud and scam complaints referred to the FOS in the first eight months of the year, alongside their uphold rates.

• Find out more: 5 of the biggest banking security threats and how to avoid them

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Does Revolut have a problem with fraud?

Other data and complaints highlight ongoing concerns about how fraud is handled at Revolut. 

Which? issued a warning about a highly sophisticated attack affecting business customers back in March 2024, expressing our concerns that Revolut had rejected their requests for reimbursement. 

Two fraud victims we highlighted in that story had to take their complaints to the FOS and faced an agonising wait of more than a year before Revolut was told to reimburse them. One had lost £165,000 and was on the brink of bankruptcy – he later featured in a BBC Panorama investigation that revealed that Revolut was named in almost 10,000 complaints to Action Fraud in 2023. 

This was more than any other major UK bank, including high street giant Barclays, which received 7,874 fraud reports, Lloyds Bank (7,395) and HSBC (5,467).

Revolut also fares badly when you look at Payment Systems Regulator (PSR) data exposing the firms that receive the most money as a result of APP fraud: for every £1m received into consumer accounts at Revolut, £756 of it was related to APP scams (in 2023).

This data indicates the businesses doing the worst job of preventing criminals from using their accounts to commit fraud. Although Revolut's figure wasn't nearly as high as smaller payment firms, including Skrill (a digital wallet), it was significantly higher than high street banks and digital rivals such as Monzo and Starling. 

• Find out more: Which are the worst banks for handling fraud?

The response from the banks

All banks work behind the scenes to protect you from fraud, and we've seen new innovations since payment providers became liable to reimburse APP fraud losses in October 2024. This includes various payment security controls from Monzo and a new app feature from Santander aimed at protecting customers from remote access or screen-sharing scams. 

Handling fraud reimbursement claims and complaints fairly is another critical responsibility, as victims are often extremely vulnerable, stressed and in need of support. 

We shared the FOS complaints data with Revolut, Monzo and Barclays. 

Revolut said: 'Each potential fraud case concerning a Revolut customer is carefully investigated and assessed independently of other cases. We also revisit liability considerations as a result of complaints wherever any errors are identified during the complaints review. Revolut takes fraud and the industry-wide risk of customers being coerced by organised criminals, incredibly seriously.

'We have robust protections in place for our millions of customers and analyse over a billion transactions a month. Our Financial Crime prevention team now makes up more than a third of our total global workforce of 10,000+ employees, and half of the data scientists at Revolut are working on Financial Crime-related topics or products. We have developed sophisticated AI models capable of spotting and blocking potentially fraudulent transactions using hundreds of internal and external data points. In 2024, we prevented over £600m of potential fraud against our customers.'

Monzo said: 'Fraud is an industry-wide problem, with people nationwide losing £1.17bn to fraudsters in 2024 alone. At Monzo our priority is to stop fraud before it impacts our customers – and it’s working. We prevented 2.9 times the value of unauthorised fraud in FY2025 compared to the year before and we continue to prioritise investing heavily to protect our customers, leveraging our unique position as a fully regulated bank with cutting-edge technology to stop fraudsters in their tracks.'

Barclays said: 'Protecting our customers from fraud and scams is our highest priority and we continue to work closely with the wider industry to tackle this crime. In the unfortunate cases where our customers do fall victim to fraud, we work hard to reach the right outcome and provide them with the support they need during a difficult time. We’re committed to providing excellent service and we continue to make progress both in reducing the number of complaints referred to the FOS and improving the uphold rate for our decisions.'