A 70-year-old man claims that $1,000 “disappeared into thin air” after he transferred the amount from his bank account to an e-wallet, leaving him distressed.
Mr Jiang (transliterated) told Shin Min Daily News that the incident happened in July, when he used DBS Bank’s PayNow service.
He transferred $1,000 to his Revolut Technologies Singapore e-wallet, only for the money to go missing.
$1,000 Transfer ‘not yet received’
Mr Jiang said he had travelled to Italy earlier this year to take care of his grandson and decided to sign up for a Revolut e-wallet to make overseas spending more convenient.
“I signed up for Revolut because there are no annual or administrative fees. I didn’t expect to run into problems on my very first use,” he told Shin Min.
According to him, the DBS PayNow page showed that the transaction was completed, but the e-wallet never received the funds.
He immediately contacted Revolut’s customer service team and provided screenshots showing that the transfer had gone through. However, he did not receive a satisfactory response, Shin Min reported.
“The money was clearly transferred, so why does the other party say it hasn’t been received? Is this system still trustworthy?” he said.
Upset over the loss of his money, Mr Jiang told Shin Min he reported the matter to the police online, hoping to receive a reply from the banks involved soon.
Revolut Responds
According to Shin Min, a spokesperson from Revolut said there could be several reasons why the transfer was not received.
The company urged Mr Jiang to provide his transaction reference number so that further investigations could be conducted.
