Any news on Revolut Bank

I’d love to know when they launch with Revolut Bank in France. Anybody got hints? :slight_smile:

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look like it’s not coming soon, the initial plan was france should be under irish banking license, up to now there no time line for getting the irish one

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which would be of little use and no greater benefit than the current LIT entity since for tax purposes in France, it would still have to be declared as an external bank on form cerfa 3916 each year.

not related to tax issue, revolut try to get sereval countriies under different banking licence due to systemic risk, central bank of lithuania will probably not accept to passport the license for all europe

Does any one succeeded to transfer to Revolut Bank France?
I have just seen it popping up in the application today but when I tried to select it, it disappeared and I don’t know how to get it back. I would really prefer to have an IBAN with FR rather tha LT.

I got it yesterday the popup but to be honest I think you‘ll still have the LT IBAN, since Revolut Bank is being passported to France via their Lithuanian entity as far as I understood

Yes. You are right. I finally succeeded to transfer it. I had to connect after reading a long page and then had to confirm some fiscal information, etc. The process if quite fast. At the end the IBAN remains in LT.

fireguard, useful, chocolat (re-arrange the order as appropriate) malheureusement :frowning_face:
A LIT IBAN is of little or no use in France.

What do you mean? I live in France and the only account I have is revolut. Even for the impot I have my LT account and for the secu I only have one free account where I have an FR iban, for literally everything else I use my LT iban

it is well documented here and in other places that, particularly the utilities, are reluctant if not refuse all but FR IBANs for regular monthly payment by direct debit. If you have success in this regard, good luck to you. I can pay for goods and services using my LIT :r: account for sure on a one-off basis but DDs are a no-no despite the EU regulations and I’m sure I could pay my impots that way too but I hold a traditional FR bank account for such payments. Remboursements from CPAM (health cover) likewise!
The problem stems from suppliers mistrust. In France, as you will be aware, you cannot stop a DD (only the beneficiary can) and all accounts must be approved by the BdF however - and this is what causes the problem with FR utilities - the payee can cancel the DD when it is other than an FR account, hence the reticence.
Maybe this is the reason why :r: are having problems setting up a FR IBAN since BdF would have to approve all accounts :thinking:

Ok so now that it’s been launched, I’d like to know if it’s absolutely mandatory to switch to Revolut Bank? Also, what is the difference between payments and bank in terms of informations shared with tax services in France? Thanks.

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Doubtful

None. As the entity is still LIT, the French fisc will regard it as an external bank and must still be reported on cerfa 3916. Only accounts with an FR IBAN will have been approved by Banque de France (BdF) and thus not be reportable on cerfa 3916.
Whether or not data is shared between :r: and the fisc is academic in this case - the account is reportable on cerfa 3916.

Hi, my question is regarding Revolut Bank Spain, will the Government have direct access to take monies and freeze the account the same as banks in Spain?

EU Regulation 655/2014 of 15 May 2014 established a European Account Preservation Order procedure to facilitate cross-border debt recovery in civil and commercial matters (‘EAPO Regulation’). It came into force on 17 July 2014 and applies since18 January 2017.

Thanks Frank, I´m self employed here and my Spanish account was frozen for 3 months due to my accountant being 2 weeks late with my return. They took the tax monies plus a late payment fee. This is a regular event here.

Given this thread is mostly about France and potentially utilities, I thought I would post my question rather than a new thread.

It sounds from earlier comments EDF will only accept FR IBAN, however on the French EDF website in the monthly payment settings they have a valid list (Spain, Portugal, Italy, Ireland, Finland, etc etc AND Royaume-Uni GB IBAN). But they do not have Lithuania. Given they have so many other EU and GB countries…Has anyone already tried to ask EDF or had any luck with paying French EDF monthly bills from their Euro Revolut with the LT IBAN?

I’m wondering if I should switch(ie. close and reopen) to a UK Revolut account for France now.

I think that would only work if you are UK resident. Given the number of UK residents with properties in France, it is hardly surprising that EDF accept the GB IBAN.
If you are UK resident, have you tried support in-app to seek advice?

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Yes switching is possible for me (dual citizen/resident), but was hoping to avoid that if EDF would accept LT IBAN alongside their other EU IBANs I wouldn’t need to close my Revolut Bank. So this is less of a Revolut question and more if anyone in France had tried to speak to EDF about it recently so Revolut EU could actually be used in France.

Hi jds, the way I see it, EDF has to accept the LT IBAN since it’s actually regulated by EU laws. If they don’t contact their customer service. If they refuse to do it open a claim with DGCCRF (I’ve won two cases already). They are legally obliged to accept the LT IBAN.

There is better/other utilities suppliers in France, go open market and you might even save a few EUROs. I have a different operator for electricity and they accepted my IBAN no hassle.
Hope this helps

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@jds You could always consult Votre conseiller EDF to seek an answer to your question by logging in to your EDF account.

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