I can’t create a new post so I found this one to post to instead.
I am a legal resident in 2 countries (one European and Japan) and do business in either country. When Revolut launched in Japan I signed up for an account but was disappointed to see that it’s barely usable and can only do JPY. There is no way to do a SEPA transfer to move some EUR and the other way around.
I signed up for a EUR account though my European phone number and address but eventually got blocked and forced to delete one account, because 1 person = 1 revolut account.
The EUR account was the same as the JP one but in reverse: You can only move money based on european-style transfers, so moving money from a Japanese account through domestic transfer isn’t possible, and similarly a domestic transfer from Revolut to a domestic Japanese bank isn’t doable either.
So I’m wondering, why is it forbidden to have 2 accounts like this when those accounts can’t really interact with each other or other countries? From the looks of it, Revolut Japan and Revolut EU are completely different entities with different regulations that don’t share anything besides the UI of the app and the brand name. That’s a bit like creating a CITI Japan account and a CITI variant in Europe, which is also completely OK and doable. Transferring from those accounts through international bank transfer would be the same as transferring between the 2 revolut accounts.
Instead, I have the choice between:
a) JP account that can’t do EUR or interact with domestic banks
b) EUR account that can’t do JPY or interact with domestic banks
I was wondering about the reason behind this rule