Australian Revolut


#1

I can see that you are expanding into Australia and the US. Does this mean that if you are expanding here that Australian and US users will have access to
EUR IBAN Account? I work freelance and have European and UK clients that would prefer to pay me this way, also making payments myself to certain exchanges etc. help to have an EUR IBAN Account.

Also when do you expect to be up and running? I signed up to the early release in AUSTRALIA. When the email was sent to my email address to download the app i got an “Opps, something went wrong” message when adding my phone number.

Thanks


#2

Any update? @AndreasK


#3

Hi there.

We currently support top-ups in 26 currencies - EUR, USD, GBP, PLN, CHF, SEK, NOK, DKK, RON, AUD, NZD, SGD, HKD, ILS, TRY, AED, CAD, HUF, INR, JPY, MAD, MXN, QAR, THB and ZAR.

Once you have loaded your account, you can exchange between the currencies in the app; send free money transfers in 26 currencies to banks around the globe; or spend in 120 currencies with a Revolut card.

Australians & US users will get this too :slight_smile:


#4

You havent answered any of my questions.

  1. Will Australians have their own European IBAN account

  2. I sign up for early release, received an email to try and when enter my phone number receive an “Oops! Something went wrong” message.

Please answer my actual questions, not a copy/paste response.

Thanks


#5

Apologies, of course yes. As I mentioned Australians & US user will have the same accounts (ibans) as our existing users.


#6

Hi Andreas. Is there any chance of getting local australian bank details (ie. BSB and account number) rather than IBAN? Most Australian banks charge a significant fee for transferring to an international account regardless of the currency (mine charges $35 per transaction), so an AUD IBAN really isn’t very useful :frowning:


#7

Australia doesn’t use IBAN as far as I know, so all transfers will need to go through SWIFT.
When @AndreasK said you will have IBANs just like all existing users, it means you’ll be able to get a euro IBAN (GB*) (+ probably also a local UK account)

It’d be great if they could provide local USA transfers using ACH and the same for other countries like Australia, but I doubt it’s even in their plans … Foreign transfers are often a real pain and the SWIFT network is far from the best.

I guess the best way to avoid fees for the people from Oz will be to simply top-up using debit card (0% fee) and pay directly with a Revolut card.

Edit: you might want to try using TransferWise’s borderless account in the meantime, I just checked and it’s possible to get a local Australian account (BSB+account number), which means you could load through them for free and then send that money anywhere in the world :slight_smile:


#8

Exactly, that’s why I’m saying an IBAN for AUD is pretty useless :slight_smile: They’re planning to launch in Australia (ie. accounts for Australians) so I’m hoping they provide local Australian bank details - if they don’t, the Australian launch will struggle to get any users :wink:

Unfortunately they don’t support debit card topups in AUD :frowning:

Yep, I have a Transferwise borderless account, but I prefer Revolut :slight_smile: If Revolut had local Australian bank details, it’d cover all my Forex needs


#9

Thanks for all the clarification :smiley: :+1:
That’s very unfortunate about the AUD topups! Hopefully they will fix that before Australian launch, otherwise that’d be a major problem.


#10

You can just use TransferWise to top up in AUD and then transfer it to GBP and send it to your Revolut GBP account (it’s much faster than IBAN based SEPA).

:slight_smile:


#11

Yep, I can do that, but if I’m going to use transferwise I may as well just skip Revolut altogether and send straight to my UK bank account from transferwise (this is what I’ve been doing). Generally takes a few minutes.


#12

Great Thanks! Sorry if i sounded rude in my last reply, reading it over again I can see that I was.

Any time frame on when the “Oops! Something went wrong” message will disappear and I can create an account. I assume there earlier access hasnt been activated yet


#13

Let me correct this, we will soon launch local AUD accounts and the ability to top up with your AUD card :slight_smile:


Revolut in Australia
#14

That is great news! I’m sure our friends from Oz will love this once you officially launched! Thanks for the reply :slight_smile: :clap:


#15

Awesome, thanks for clarifying! Very much looking forward to this :slight_smile:


#17

Looking forward to this!


#18

Hey there!
How long till Revolut is available in Australia?
Any news?


#19

I believe the official target is still Q1 2018. If you didn’t pre-register yet, you should do it. It’s very likely there will be a waiting queue in the first months.


#20

Hello there!

Any update on availability in Australia?


#21

@AndreasK Any update on local accounts in Australia?

It’s been 5 months since you said it will be available soon…