Revolut Megathread.

Delta2113 wrote: »

- Yes. If however you use a bank card say from EBS to top up I think it will still work ....

Don't understand the mechanism you're describing. How can I use an EBS card to topup a Revolut account - do I do it from the EBS website or within the Revolut app?

Delta2113 wrote: »

https://www.independent.ie/business/personal-finance/banking/revolut-to-move-regulation-of-irish-accounts-to-lithuania-39579517.html

The move will mean its customers here who have direct debits and other recurring payments coming from their Revolut accounts will have to contact any companies paid regularly from their accounts to update them about this.

This is because the Revolut IBAN (International Bank Account Number) will change from one that starts with GB to one that starts with LT.

Quote
It said it has “applied to be authorised by the Central Bank as an e-money institution as part of our post-Brexit strategy of operating around three European hubs”.

It said the licensing process in Ireland is ongoing.

While this process is ongoing, to ensure that Brexit does not impact its Irish customers, it plans to temporarily migrate their accounts to Revolut’s e-money licensed business in the EU, based in Lithuania.

For most Revolut customers who top-up their account through the app by using their main bank’s debit card, there won’t be any change, Mr Cassidy said.

The migration of the accounts won’t start until December.

Revolut said it will notify customers in advance that their IBAN will change, and give them their new IBAN details on the day they are migrated.

stockshares wrote: »

Open the app.

It should open on the first Tab. If so the R Tab will be highlighted on the bottom of the screen.

At the top of that screen there is a button saying Add Money.

Click this and enter your EBS card details

Cheers, and thanks also to Aquos76 and Killbillvol2 above.

Adding a debit card where you already have another card registered is a little complicated ....

When I click on 'Add money' it shows me details I have already entered, for my credit card. To add a debit card, you need to tap on 'change' on the right-hand side of the screen, then scroll down on the next screen to 'Debit or credit card'. On the next screen, you need to click on the blue 'Add money' button. At which point you can enter details of a new card.

Edit: but you can only have one card registered at a time for 'Add money'. Adding my EBS debit card has wiped out the other card I had registered :eek:

Aquos76, is that a premium account you have? I can't see any way to add multiple cards to use with 'Add money'

Sheep Shagger wrote: »

Re the switching of IBANs....presumably if you are paying a regular bill by visa debit card (not a direct debit) then no change will be required.....that's how I pay my gomo bill as an example.

-99.9% no need to worry - you are actually using your visa card number for the payments which is not changing.

Sorry for not reading everything, but can I just check something.

I was surprised last year to see that having a Revolut account/card, means I have a UK current a/c, with sort code and account number.

This was handy, as I was due to be paid by a UK firm, and so I could give them the sort-code and account number (not IBAN), and it was like making a local payment for them, even though I am in Ireland.

Will this be gone after Dec/Jan?

Anyone else think Revolut is over sensitive

Ive to go ring sky because they tried to take the bill out of revolut and it was blocked as being suspicious.

Even if when you said its not and the payment went through or gave you the option to do it

40 Minutes via call and messenger to be told we cant do it again, you can do it manually yourself

Beginning to think it would be better to have bills setup to get notification and then go in and pay myself, at least any of this I can pay again when unmarked as suspicious

Full email I got from them.

On 31st December, 2020 the Brexit transition period with the EU is due to end, so we’re taking action to make sure our Irish customers are not affected when the UK leaves the EU.

In two months, we will be moving our European customers to the electronic money licence held by Revolut in Lithuania. This will ensure that your Revolut service will continue smoothly when the Brexit process is concluded. It means you’ll still be able to use all of the services and features that you love. You don’t need to do anything and we will contact you again when we have made the switch.

The great news is that we are also establishing a business in Ireland which is applying for an electronic money institution licence. Our aim is that once this business is authorised by the Central Bank of Ireland we will then migrate you to our Irish licence.

European terms and conditions
You can read the Terms & Conditions of the Lithuanian entity that you will be transferred to here. These T&Cs are largely the same as your existing ones, with a few changes to comply with local laws. Here is a brief summary of the key changes:

The Revolut entity providing your services will be Revolut Payments UAB, an electronic money institution authorised by the Bank of Lithuania. This is the same type of licence as our UK entity (Revolut Ltd).
If you ever need to make a complaint about our Lithuanian entity’s service, you can do so through the Bank of Lithuania - a member of the European System of Central Banks - which investigates disputes between consumers and financial services companies impartially and free of charge.
The T&Cs of your account will be governed by Lithuanian law, and the Lithuanian courts will have jurisdiction to hear claims in conformity with all applicable EU laws and respecting your fundamental rights as an EU citizen. In some circumstances, as an EU citizen you may have the right to make a court claim in your own country under the laws of that country.
These Terms & Conditions will automatically apply to you once we transfer you to our Lithuanian entity.

New account details
After we've transferred you to our European entity, the International Bank Account Number (IBAN) that you currently use to receive both Euro and non-Euro currency payments will change. We’ll provide further details and support in relation to this change closer to the time.

Unhappy for any reason?
We’re confident that the migration process will result in no, or minimal, disruption to your services. However, if you'd like more information about the migration, here's a link to a helpful FAQ.

If you'd like to speak with a customer support agent or make a complaint, please get in touch with us through our in-app customer support chat. If you're still not happy with these changes, you may close your Revolut account for free by selecting your Profile icon in the Revolut app, tapping on the Settings icon, scrolling to the bottom of the page, and choosing “Close account”. You can do this at any time before the transfer, or after we transfer you to our Lithuanian entity.


Thanks for your understanding.

Team Revolut

Fingers Mcginty wrote: »

Just wondering if anyone is seeing similar.
I was in a local hotel the other day and when I went to pay for the meal I tapped with my phone but when I checked my records I was actually charged in Sterling.
Today I went to pay for something over the phone and the girl said that Sterling came up on her terminal So I nearly got charged again in Sterling.

Sometimes on their terminal, it pops up the option to charge in Sterling or Euro. Only if you have a UK coded card tho, I believe?

MiskyBoyy wrote: »

Sometimes on their terminal, it pops up the option to charge in Sterling or Euro. Only if you have a UK coded card tho, I believe?

With the hotel though it was a tap transaction
The total came to 62.50 euros ...I tapped. But I got the notification that 65 euros had been taken from my euro balance. Kind of annoying.

Does anyone know how long Revolut takes to validate cashback after purchasing.

Geuze wrote: »

Sorry for not reading everything, but can I just check something.

I was surprised last year to see that having a Revolut account/card, means I have a UK current a/c, with sort code and account number.

This was handy, as I was due to be paid by a UK firm, and so I could give them the sort-code and account number (not IBAN), and it was like making a local payment for them, even though I am in Ireland.

Will this be gone after Dec/Jan?

Yes, unfortunately. I also found it handy for the same reason for occasional payments from the UK. Also, some UK companies are not setup for SEPA transfers, so you may have to accept the payment via cheque.