Bank won’t recognise new Euro IBAN/BIC!

This doesn’t suggest that the problem is with Revolut…

Too many people are posturing about leaving Revolut when they clearly don’t intend to…

Of course. If the required SEPA transfer is handled by Fio or Paysera, each bank should know it.

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If your Austrian Bank is BawagPSK then you are lucky - I sucessfully topped-up on Friday to my personal EUR account.

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Why don’t simply top up with your (maestro or debit) card from the other bank? (Top up -> Card)

The information from Revolut support this morning is that they are NOT intending to provide UK EUR IBANs, that they recommend using the LT EUR IBAN if possible, otherwise to stick with the previous one, and that the issue is not with Revolut but with some banks that don’t yet recognise the LT EUR IBAN and BIC.

That’s a good point. It’s useful to be able to use both methods?

Everybody just chill, these sort of things need to propagate through bank networks and it takes time.

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I agree with you. Revolut are doing something a bit new and it will take time to bed in.

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Could you please talk to PayPal and make them accept the IBAN?

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PayPal accepts only personal accounts.Cannot be just persuaded.To have an account in Revolut is easy due to identification tolerance.If this will change then PayPal will accept Revolut’s IBAN .

I’ve asked the official Association of German Banks to take a look into that matter because I wanted to be sure to have working IBAN when I hand it out to receive salaries or ebay payments on my Revolut.

They checked back with SWIFT who controls the IBAN registry.

They told me, that it IS possible to have two different country codes in IBAN and BIC. However, it depends whether Lithuana has defined an exception within the registry. But there is no BIC exception within the SWIFT registry for LT IBANs (they told me).

Thus, a bank, receiving a LT IBAN with a GB BIC can refuse to do the transfer. And that’s just because the IBAN is not compliant with the SWIFT registry. They CAN, but they don’t NEED to refuse it, though.

I also asked the German national bank to get their take on it, I particularly also asked about customers rights for such strange SEPA transfers. No answer here, yet. But probably, they’ll say the same. But if this is true, it has nothing to do with propagation of the BIC through the networks. The banks just are right if they want to refuse it, because their security system checks the IBAN with the registry at SWIFT and find a non-compliance because of a BIC registered in another country.

Of course, that’s just what they told me, nothing I know for sure. But they sounded pretty aware that this is not working that way Revolut wants it to work.

Hope this gets sorted out somehow.

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Update on the success rate for new IBAN transfers:

I have made multiple transfers using multiple banks to this new IBAN account and not all of them have reached it. Even some of the transfers from the bank that previously successfully transferred the money have not reached my Revolut account.

It is now intermittent.

All in all i’m done beta testing this nonsense for free with my time and money.

Well, well, well … They just started to pop up randomly.

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how much money have you spend for commission?:yum:

Local transfers are free.

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Euro transfers from Revolut to my French account are now down from 3 days to 24 hours or less, so it’s definitely working.

You need to contact your other bank if they won’t accept the new IBAN. It’s their fault.

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here we go again… thank you mate for enlightening

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what do you mean?Do you have multiple Euro accounts in United Kingdom?

I have multiple accounts in multiple banks in multiple countries.

of course you have.Local transfer can be considered a transfer in UK only.There is no commission between the banks that you use?