Incoming bank transfer to EUR unique IBAN apparently declined from Revolut Ltd.


#1

Hello,

I made 2 bank transfers from “Kraken”, the European leader cryptocurrencies exchange platform to my Revolut account using the unique IBAN in EUR.
It was 2 bank transfers :

  • on the 17th of July : 99.91€
  • on the 18th of July : 1000€

I haven’t received my money yet. I contacted the support of Kraken and they told me they sent the money but “Revolut LTD recently started to decline transfers sent by Kraken”.

How is it possible? Why offering a unique IBAN and block senders, this is non-sense and other banks don’t do this.

Could you please have a look and credit my account or tell me the status of theses transfers?
Thanks

PS: transfers come from Fidor Bank, a German bank with the following BIC code: FDDODEMMXXX


#2

Revolut does not support any cryptocurrencies or anything related to them in any way.


#3

Please read fully my post, it’s a normal wire transfer between two banks within the SEPA zone and in EUR currency.
I used my unique IBAN in EUR provided by Revolut.


#4

If that other bank is know to be used for cryptocurrency exchange or something maybe it was flagged by Revolut.


#5

That would be the first time I see my bank declining incoming bank transfers without asking me anything first. We are talking about relatively small amounts and legit money.
This is why I’m trying to have more information because customers must know if they can’t use their unique IBAN to receive money from 3rd parties whereas it was advertised to do so by Revolut.


#6

Or it could be just intermittent issue with transfers. I for example made 3 transfers from the same account yesterday and last transfer arrived to the revolut account before 2nd did.


#7

Same issue here. 2 deposits no reaching Revolut in my unique iban number.
Kraken said Revolut is blocking the payment. Kraken is working to retrieve the amounts.

Please Revolut, let payments from Kraken go through, those are iban to iban payments.


#8

I’m with Fidor, too - and I don’t have a cryptocurrency account there, just my regular account in Euro.

I can confirm that my last transaction from Fidor to the LT IBAN from approx. 16 days ago has not reached Revolut so far.

(I don’t really believe Revolut is blocking Fidor completely to block out cryptocurrencies, they would lock out important and regular German banks - not only Fidor but even the o2 Online Bank as well. I rather believe it’s the routing problems with the LT IBANs several customers report here for several days from different banks all over the SEPA region).


#9

News about Fidor, and a very strange one - probably helpful for you:

  • Fidor has booked my transaction to Revolut, I even can print a confirmation of the transaction to have taken place in my online banking login. IBAN and BIC mentioned are the correct ones.
  • The money has never reached my Revolut account.
  • Now, in my bank account statement, the transaction to Revolut just does not appear, as if I had never done it! Interestingly, the bank account statement therefor confirms that I still have more money on my account then I actually have. It’s just two completely different balances.

It seems like Fidor is also a little confused of how to handle the Revolut IBAN system. But to have two different balances in your online banking and bank account statement is pretty much amazing to me! Well done, Revolut, you bring the bank’s systems to their limits. :wink:


#10

Seems Fidor does not set a value date for the transaction at all at the end. So one more IBAN/BIC issue here, as it seems and Fidor, for the moment, won’t work with Revolut’s new IBANs.


#11

any progress with sepa transfers from kraken?


#12

It seems Revolut is blocking. Which is pretty weird and unacceptable.


#13

Fidor has confirmed they’re the one currently blocking it (Fidor, not Revolut). They say they’re working on a fix. So if Kraken is using Fidor, it’s likely not working because of Fidor not being able to route it.


#14

Why would they do that ?


#15

I’ve got an answer from Kraken.

“Unfortunately we had some problems with withdrawals to Revolut. For the time being, withdrawals to Revolut are not possible.”

Shame on You, Revolut…


#16

Hello,
What about now ?
Is the problem solved ?

No update from revolut ?

Thank you


#17

Hi fbo, yes problem is solved.
Thanks to the community (and not to Revolut), I think Kraken’s bank (Fidor Bank) had problem handling the Lituanian IBAN from Revolut.
Kraken said it was a Revolut problem but I’m not sure about that.

Since the new Revolut GB IBANs, all is working well and you can transfer your funds by SEPA in EUR to your Revolut IBAN and it’s really fast (1 working day, but slower than N26 on which I was surprised I could get a incoming transfer intraday from Kraken. Maybe it’s because both banks are in Gemany).
The lituanian IBAN was very confusing for everyone, there was a real lack of communication from Revolut but it’s working well now.
So I continue to support Revolut from now.


#18

Thank you very much for you feed back.
Same for me I use both, new generation of banks !
but not the next generation, next are cryptos :smile:


#19

Hello guys I have made a Coinbase transfer to my revolut account (SEPA transfer) and nothing happened since almost 1 week. the transaction appeared completed on Coinbase ! Can someone help me ?


#20

Hi RTTM,

I used to make transfers out of coinbase to Revolut. They are a little longer this month (4 days in average compared to 1-2 days for Kraken). I have initiated one transfer from Coinbase the 15th of december. I’ll see if it works out.
Did you tried with a small amount wire transfer to test or it is you first transfer?