You only accept it once. Then after that it just comes through to your balance. I guess it’s a kind of security feature so you’re not just receiving funds randomly, you can accept from those you trust.
Because we are a large group of people we share the QR code.
My point of the OP is there should be no reason for the recipient to accept an incoming payment. It’s should just arrive like any other financial institution.
Revolut’s P2P transfers were exploited in the past to identify potential phishing targets. That’s one reason I can think of why Revolut introduced this.
I don’t quite get the security thing. If a fraudster wants to send me money, then I’m all for it. I will happily take it and spend it.
What’s the catch?
It’s different. IBANs aren’t the same as let’s say a phone number. There’s also not a 2nd party like Paypal involved where users also can send money via mail. Revolut’s feature is pretty complex, allowing card payments et cetera. Revolut introduced this mechanism at some point, it wasn’t always implemented like this. I believe it’s a direct reaction to a “problem” with the feature that was actively exploited in the past. That’s why I believe Revolut is not going to change it, unless they can solve the security risk otherwise. Like mentioned, transfers using account numbers do not have this limitation.
In short: this limitation didn’t exist, and was introduced at some point. The logical conclusion is that Revolut reacted to a problem. Assuming they introduced a hurdle and made a feature actually less convenient than it used to be does not make sense to me.
Because they are not in my contacts list they are just as number. Even if it was a name it’s somebody I’ve worked with once and may never again so really I’ve got no idea who they are. That’s the aviation business.
My point is if they say here’s $20 that I owe you I should get $20.
I shouldn’t receive an email 3 weeks later saying the transfer timed of and then I have no idea who sent me the money originally. Even if I did know who it was I’d have to email or WhatsApp them and say “hello, you probably don’t remember me but……”
If you’d used your account details not your revolut tag you’d have been fine, as payments sent using the old school method are processed the way you’d like.
You can also send people your revolut link instead, as those also don’t need to be accepted.
It’s your responsibility to manage your payments, and pay due care on actually receiving/accepting them if using your revolut tag.
Sending your account number and sort code to 8 or 9 people in a busy restaurant just isn’t practical.
As I said before in my business almost everybody has Revolut and it’s become the kind of standard way we all pay. I’m accepting several payments a day from strangers.
It was never like this before. Sent money was received.
At least you know for future reference to accept payments.
As for bank number and sort code, no different to your Revolut user tag, just get everyone ready and off you go, or let someone else take the burde. Or everyone just pay their own share.