Ah, I’m sorry to hear that. I guess you can use a card to top up in DKK for free?
That’s interesting. Thanks.
Caxton are refusing to transfer euros from my account with them to my euro account with Revolut. They says it is because the IBAN and BIC are in different countries. Previous replies suggest that the Lithuanian IBAN entry in the registry needs an exception added - if this is so, when is Revolut going to arrange this?
Our international man of mystery
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It’s not that difficult you know if you need it. Especially in EEA.
You could’ve just consolidated all your currency accounts at Citi, with their wealth management service.
Personally, I don’t even think Revolut can do this. Lithuania needs to do this, as far as I understands it. France arranged it with the argument, that countries like Saint Martin (country code: MF) are part French territory and thus a BIC with “MF” in the country code is valid for IBANs with “FR”.
What argument would Lithuania bring forward? “We have a British company that hosts their accounts at our place but does not apply for an Lithuanian banking license?” Very unlikely SWIFT will allow this, if you ask me.
Why would you do that?
You just have an account in GBP in UK, another account in EUR in Lithuania, and so on…
No need to complicate everything.
When you convert a currency, you are actually doing a transfer between accounts that’s it.
A UK register company won’t be able to get a Lithuanian BIC, I think. The problem only concerns the EUR Lithuanian account, that you might have, but might not be able to use.
You just register Revolut Lithuania? But I’m pretty sure EU companies can operate anywhere in EU.
Sure, they can operate all over EU. But they are registered and regulated under a UK electronic money license. To be able to issue “own” IBANS to customers, one has to have a license. That could be a banking license, or an electronic money license. And that works only in the country where you’re registered and regulated in. That is why all French and Irish and Italian N26 customers have German IBANs for now.
Of course. The Single Banking License has existed for a long time.
It the other thread, I just posted that it seems Deutsche Bank is doing exactly what Revolut is trying to do. According to IBANplus, Deutsche Bank uses their DE BIC in Frankfurt for managing CH accounts in Switzerland. This seems to work.
So, it seems there are ways to do it…
Everything clearly explained here:
The issue with Revolut, IBAN, BIC and ISO13616
http://blog.coaster.de/wordpress/?p=34077
why do you keep posting guys…they should UK ibans will be introduced next week just wait and it will be solved.
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what is the point mate.keep posting and posting.It does not work in most of banks period.end of story.You spamming the thread and the solution-answer to the problem is hidden by so many posts.Revolut will introduce UK IBAN which solves the problem by the next week.If the do not then start posting again.
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Same ISSUE bank will not accept transfers to Lithuania… Something that was working has now stopped working… Any fix for this? Its been more than one week since the promised UK accounts
only the old way works undoubtedly.The didn’t keep their promises we just waiting.