Do not top-up non EUR accounts using SEPA


Because I could not top up my Revolut EUR account - due to the problems with the new IBAN/BIC codes, I had to top up a Revolut DKK account that they think I need … so I did. Since a SEPA transaction can only be done in EUR I send 3000 EUR to the account. The account is in DKK, so they exchanged the 3000 to 21.879 DKK = 2940 EUR! … so I end up paying 60€ for topping up my account … thanks!
the support couldn’t see the problem … that exchange rate is ridiculous … its the same as cash exchange!


To clarify, “they” is Lloyds, not Revolut. Never ever send a payment to a bank account in a different currency from the currency in which the account is denominated. Otherwise the bank (in this case Lloyds) and not the account holder (in this case Revolut) will rip you off on the exchange rate. You were asking for trouble by doing this.


You’re right. In these cases, it is normal that the bank (here Lloyds) charges an incoming payment in foreign currency, and at the same time makes a conversion to the currency of the account at its own rate, which is minus 2-3% of the average.


Yes. The rule of thump for Revolut is always to top up in the same currency, like they explain in the FAQs. Via transfer or card doesn’t matter. If the card is denominated in EUR for example, only use it for EUR top ups. If the outgoing account for a transfer is in EUR, only use the EUR IBAN Details.

EUR IBAN/BIC problems should be resolved since they rolled out the IBANs that start with GB.


So many complains with this obligation.
Why Revolut should’nt add an option not to face this problem!!!


Hi @truc, are you talking about choosing the right bank details per currency or the EUR IBAN? What would be your suggestion? Which part of the explanation in the FAQs about top-ups via bank transfers is unclear?

I agree that Revolut should do anything to make it a pleasant experience without many hurdles. But they are not an ordinary bank, there is a learning curve.


Hi @Frank, yes it"s all about App User Experience and “learning curve”:wink:

May be an option to tick like “never allow third parties charged operation” or a droping notification giving advise in order to avoid that.
It could be usefull regading this topic.

The other field something could be done is when transfers from third parties, including but not limited to companies, friends & family, are returned to the sender’s account after deducting processing fees of £5.


Well, I don’t see how this could be achieved here. If a wrong currency hits an account, the money has to be converted or bounces back. Both could result in fees. It’s actions outside of Revolut’s control that cause the fees here. No checkbox in the app could prevent people from sending EUR to a non EUR IBAN, for example. And with SWIFT transfers, a portion of the fees is alredy deducted even before the money hits Revolut‘s partner bank Lloyd’s. If you want to offer international transfers at all from regular banks, these third party fees can’t be avoided.


ok Frank, I’ve no particular knowledge on the mater so I’ve to beleive you.
Still finding odd that iban are not filed by curency and that no available library of all iban or groups of iban can be network accessed.
While such proceeding exist to check Bank cards numbers.


Well, but isn’t it exactly like that? IBAN numbers “filed” by currency?

If you want to find out your IBAN for a transfer, you have to chose a currency you want to top up in first. Only then the app would show you the right IBAN for this account.

Also, before Revolut was around, the outcome people now complain here was the expected one. If someone in the US wants to send you money and all you have is a Danish current account for example, you want your bank to exchange the money for you into DKK. Otherwise, you wouldn’t be able to receive foreign currencies at all. Revolut and Transferwiese make this considerably cheaper. But they only can work if the user avoids the old tracks of the legacy banks.

Concerning bank cards: the currency of the card can’t be deprived from the card number. Only the country code of issuing. This is exactly the reason why a POS terminal might ask you if you want to pay in GBP if you use your Revolut card in Spain, for example. The terminal knows that the card is issued in GB and just assumes that it is very likely that the attached account might be in GBP. But this is what you don’t want with your Revolut card. You want to pay in the local currency to get the best rate. Nothing Revolut can do about that. They would have to come up with “rotating country codes” for credit card numbers to pretend at a terminal to be “local”. That is just not supported by any credit card brand.