Revolut Megathread.

coylemj

https://www.boards.ie/discussion/comment/120778093#Comment_120778093

Interesting. I see there is no charge at all if you never use the card to withdraw cash at an ATM. That answers my question. I last withdrew cash with the Revolut card when in the UK in Feb. 2020, just before Covid.

In relation to the ATM/debit card levy, there are three scenarios...

1. Use the card only for ATM withdrawals (no debits): 12c per ATM withdrawal, capped at €2.50 p.a.
2. Use the card for ATM withdrawals and at least one debit: 12c per ATM withdrawal, capped at €5 p.a.
3. Only use the debit facility i.e. no ATM withdrawals - no levy.

Yggr of Asgard

https://www.boards.ie/discussion/comment/120778183#Comment_120778183

Also, it's only ATM withdraws in the republic, not outside the republic that trigger the 12 cent.

coylemj

https://www.boards.ie/discussion/comment/120778360#Comment_120778360

Thank you, that explains why I've never seen that levy on my Revolut account. My only ATM withdrawal ever was from a Yorkshire Building Society ATM in Chester. The Revolut app immediately informed me how much (in Euros) was debited from my account so I put the sterling amount that I had just withdrawn into the XE app. Which told me that I was charged the grand total of 1c on the transaction.

larchielads

Hi guys cant get thru to an agent on revolut so i said id ask here. I set up joint account for meself and herself. Shes added the virtual card to her google wallet but she cant use the virtual card when at the shop. She can access it on her app , can transfer funds to it but and all the rest but cant use it at the shop. Any ideas as to why?

the_amazing_raisin

https://www.boards.ie/discussion/comment/120796688#Comment_120796688

Is the card frozen in the app maybe? Or maybe the security settings have disabled tap and pay?

Gooser14

I was doing a transfer to another account (have previously transferred to the account without problem) today & it was frozen as the receiving account was deemed suspect. I then had to go through a process to confirm the receiving account was safe before the transfer went through. I haven't seen this before but it seems to be a very security feature.

Yggr of Asgard

https://www.boards.ie/discussion/comment/120798856#Comment_120798856

If the account is for a competitor (like wise/atantic money etc.) than expect to see that all the time, watch the video, acknowledge you understand the risk, watch the second video and then finally you can send.

The AI deems a lot of transactions as suspicious these days and make you go through additional info again and again.

Gooser14

https://www.boards.ie/discussion/comment/120799005#Comment_120799005

The transfer was to the Revolut account of a family member. I have made transfers to the account at least monthly for nearly two years.

mileycactus

The switch to Irish IBAN is a complete disaster. Can’t send money from USD E*trade to revolut and the Lithuanian IBAN is no longer valid. Seems to have been completely rushed on the Revolut end without proper setup. From bouncing direct debits to BICs not been recognised it’s been a car crash. Looking for interim solution, is N26 favourable for USD to euro or anyone recommend an alternative? Thanks

the_amazing_raisin

https://www.boards.ie/discussion/comment/120803822#Comment_120803822

Did they say why the Irish IBAN isn't working for the transfer?

Yggr of Asgard

https://www.boards.ie/discussion/comment/120803822#Comment_120803822

Wise will give you a local US $ account you can use, still going to cost you the e*trade wire transfer fee but is quick and you can than easily use the money from there and the rates are not too bad either.

Unfortunately, with the move from Revolut UK to Revolut Bank UAB most of us lost the local US $ bank account and now all we can do is use the IE IBAN as multi-currency account.

REVOIE23 as BIC should work for e*trade in combination with your new IBAN.

mileycactus

No, they are very light on details but assure me the issue has been identified and the issue is being worked.

mileycactus

it should work but doesn’t. Revolut have looked into and it’s clearly a problem their end as the always send you running to the other bank to fix but not in this case.

thanks for the wise rec… will look into

towger

https://www.boards.ie/discussion/comment/120803822#Comment_120803822

Are you not able to set up the Wire details at all, or you can set it up but the actual wire transfer fails ? I was not able to add Revolut to eTrade as it did not recognise the new BIC. I tried again yesterday and this time it allowed me to add it and also accepted the IBAN. I have not actually executed a wire yet though.

Tow

https://www.boards.ie/discussion/comment/120804006#Comment_120804006

The new Irish BIC is not SWIFT reachable BIC, it ends in a 3.

mileycactus

https://www.boards.ie/discussion/comment/120805130#Comment_120805130

Same here, was only recently able to add details and when executing a transfer it bounced back

mileycactus

https://www.boards.ie/discussion/comment/120805318#Comment_120805318

Not really sure why a “3” matters but that sounds like a forever problem unless they change the BIC?

the_amazing_raisin

https://www.boards.ie/discussion/comment/120805318#Comment_120805318

It's available on the Swift website, so I'm not sure that's true

https://www2.swift.com/bsl/?bicSearch_bic=revoie23

Yggr of Asgard

You can always do the XXX after the BIC which for some of our US based banks seams to do the trick when they don't get the right number of characters.

Some Us banks expect Bank Code / Country Code / Location Code / Branch Code so the XXX as Branch code works.

But if the payment bounces once it's received by Revolut, that clearly, it's on their side but it would surprise me if Swift payments don't work, that is a large part of their business.

jasonb

https://www.boards.ie/discussion/comment/120777872#Comment_120777872

Sorry to quote myself, but I just got another one of these email. Basically, since I signed up, every Wed I get an email saying "make that first card purchase" and if I use the card on three different days within the week, I get a €10 reward. As it's happening every Wednesday, this will be €40 they've given me. I presume this shouldn't be happening every week? Not that I'm complaining!

3DataModem

I just realised that a payment has been sent to the old Lithuanian IBAN for my Revolut account (SEAI grant applied for months ago)... are these old IBANs still working, or should I tell them to expect a bounce?

hynesie08

https://www.boards.ie/discussion/comment/120810816#Comment_120810816

I had a PayPal transfer go through the old IBAN last week, you'll be fine, you'll just get a reminder email about the new set up.

tobesure

Using my card abroad for first time soon.

When they say, make sure to pay in local currency when paying using card, what do they mean?

I have the local currency bought now. If I tap the card, it will take the local currency automatically? Or do I need to select a "selected" currency in the app, i.e display the GBP account value rather than the default euro account?

downtheroad

Revolut must be rolling around laughing at the Irish banks

https://m.independent.ie/business/personal-finance/more-delays-for-synch-irish-banks-instant-payments-app/a1132939568.html

G_R

https://www.boards.ie/discussion/comment/120813089#Comment_120813089

When people say pay in local currency, what they mean is if you are handed a card machine and it gives you the option of GBP or EUR, always choose GBP as the exchange rate they are offering will almost always be worse.

If you have available funds in GBP in your account, and you pay in GBP, Revolut will automatically fund the transaction from there. If not, it will take it from another currency that has got funds, and it will do the exchange at whatever the current rate is.

You don't actually need to change to GBP in advance unless you're trying to lock in at a certain rate. I never bother, the difference usually only amounts to a couple of cent and usually you'll be up as often as you'll be down. You're still paying in GBP even though the funds came from your euro balance, revolut are just doing the exchange there and then instead of in advance.

tobesure

https://www.boards.ie/discussion/comment/120813246#Comment_120813246

Cheers!

I thought there was some fee for currency exchange in evenings and weekends.

tylercheribini

Anybody solve the conundrum of trying to pay AIB credit card bill from Revolut funds? Thanks.

G_R

https://www.boards.ie/discussion/comment/120813291#Comment_120813291

You're right, there is a 1% markup at the weekend that I forgot about. If you want to avoid that, then yes, converting in advance is a good idea.

I'm usually only spending a couple of hundred quid so you're only talking a euro or two so not really something I consider!

AndrewJRenko

https://www.boards.ie/discussion/comment/120813837#Comment_120813837

I tried about a month ago and it got bounced back again. My complaint is now with the Financial Ombudsman.

G_R

https://www.boards.ie/discussion/comment/120814916#Comment_120814916

Fair play to you for following this through. I got sick of it and gave up. Be sure to let us know what the FSPO come back with.