GBP Accounts for Gibraltar.


#1

I’m not sure where on Revolut’s priority list GBP accounts for Gibraltar are listed, but they should be bumped up with more priority.

In the last few years, we lost 3 locations to store money.

  • Norwich and Peterborough
  • Barclays Bank
  • Newcastle Banking

We are left with Natwest and Gibraltar Int Bank.
Gibraltar Int Bank is very new, and prone to issues, has out dated online system, and delays in balance updates when using card.

Natwest, is Natwest, it’s not bad, but it’s nothing extra special.

Additionally, in Gibraltar a lot of residents travel over the border to Spain and spend money there, now made even easier with Free mobile roaming so we can top up and exchange money in Revolut without worrying about data roaming charges, which will lead to increased usage.

What is missing though, is the ability to use Revolut as a proper bank alternative, with the ability to receive our wages into Revolut directly. This would be a major game changer in a location where bank options are thin and should be somehing Revolut look with more priority.


#2

@ElWaster - This is not missing; you can already do this. Revolut gives you a UK sort code and account number for GBP and a Lithuanian IBAN and BIC/SWIFT code for EUR. As Gibraltar is part of the UK banking system (i.e. UK sort codes), you can receive your salary/wages directly into Revolut.


#3

The personalised GBP accounts were made available for all users! Have you tried activating this?


#4

I have tried this previously, but I was told as the transfer (my pay) was not coming from an account in my name, It would not be accepted. When speaking to their support, I was told the feature is not available in Gib.


#5

What does this mean? It could mean any of the following:

  • You can’t receive payments from Gibraltar accounts.
  • You can’t use the card at merchants or cash machines in Gibraltar.
  • You can’t use the app with a Gibraltar IP address.
  • You can’t have a Revolut GBP account if you’re a Gibraltar resident.

All are implausible. You need to find out exactly what the restriction is, and whether it really exists.


#6

I work in Gibraltar, I live in spain.
I top up my Revolut account in GBP by bank transfer from my account with the Gibraltar International Bank using Faster payments with the GIB bank on-line banking app to my UK Bank account provided by Revolut.
I have used my revolut card at Merchants and ATM’s in Gibraltar.
I have no problem with Gibraltar IP address
Not sure about block on GBP account for Gibraltar - I am resident in UK and Spain so cannot answer that question.

Maybe not receiving salary directly is a feature of how the company transfers the Salary to your account - mine has used my Gib Bank account and previously my UK bank account.

Revolut also works fine for me across the border in Spain.


#7

Yes, the service works perfectly fine for all of it’s core features, but what I am not able to do is to have my pay put into the Revolut account.


#8

Why not? What happens if your employer pays your salary/wages to your Revolut GBP account, specifying your name as the account holder and Revolut’s sort code 23-69-72?


#9

You get the following SMS when attempting to make a salary/wages payment.

"Hi, we’ve received a transfer for you. It could not be processed as it came from an account not in your name. Please, ask the sender to open a Revolut account and request support to credit the funds to this account. The sender will be able to make a Revolut-to-Revolut transfer.

If the transfer is from an account in your name please get in touch with us via the in-app chat as soon as possible.

Otherwise, the transfer will be returned to the sender.

Your Revolut Team"


#10

I have received 3rd party payments to my personal UK account - sort code 23-69-72 account 0xxxxxxx in my Name.
I have read that payments to the IBAN account can only be made from an account in my name. I have also seen in another forum post that BACS transfers are not supported.


#11

To which sort code is your employer sending payments? If it’s not 23-69-72, as I mentioned above, then that’s where the problem lies.


#12

Hi Its probably for safety. There is a well known drug money laundering problem in Gibraltar. Even the online gaming agencies don’t do background checks. The ones that do are regulated by the Gibraltar financial authority. Which basically means there are none. I spoke to one of the online gaming agencies financial directors and he said he has sleepless nights over it. The online gaming agency is literally a ticking time bomb. Hence why there are so few there now compared to a few years ago. Pretty much every restaurant in Gibraltar is laundering! So don’t be too upset if they wont touch you with a barge pole. Revolut are now looking for another venue for its Iberian expansion forum which was to be held in Gibraltar. Its a sign of the times as governments become more aware of rogue banking practices. This is the main reason so many banks have left the colony. Its a countdown to financial implosion.