Revolut payments app scam warning after $5k loss for wheelchair purchase.

A New York resident has warned Americans of a scam risk after he lost almost $5,000 that he was trying to send to his ailing mother using a payments app called Revolut. The company has been criticized by fraud victims who have not been issued refunds. Revolut allows users to open an account with just a phone number and no paperwork. The neobank launched in the US in 2020, and now boats more than 700,000 US customers.