Hi, I am an Indian student working in Austria, and need a salary account for my university to deposit money in, each month. I was looking for an online bank account, as I did not want to go through the hassle of going to a physical bank branch. Is Revolut reliable enough to act as a salary account (in Euros) ? Also, the 200 Euro monthly withdrawal limit is depressing.
By now I have only positive experiences made with Revolut. Everything has been working or has been solved by support quickly and effective.
So I would say go ahead and use Revolut if you want to do it all online.
With regards the the 200 Euro limit:
This counts only for the cost free withdrawl of cash. You may withdraw more, but every amount above that monthly 200/400 (Premium) will generate a fee.
Hope that helps.
Hi, thanks for the reply. I was just a bit reluctant, because they ask for the 10 Euros payment for the card to be done upfront. Also the 2 percent charge on withdrawals which is levied after the free withdrawal, taking all these costs into account, is it better than a generic bank account which here in Austria costs like 5 euros a month ? Also I am worried if any transactions might fail, as this would be my primary bank account.
I suggest getting a regular bank account. There has been an issue last month where money deposits into Revolut via SEPA bank transfer did not work. This would mean you cannot receive the money from your university.
Oh my that sucks, thanks for the heads up !!
some of the issues have been resolved…