INFO: Why your Bank TO REVOLUT EURO transfer might fail (08/17)


#1

Revolut give you a personal Euro International Bank Account Number (IBAN) in Lithuania along with its Bank Identifier Code (BIC).

If you try to make a transfer to this account the following may happen.

Setting up the transfer on line on your bank pages to that account fails.
This is because:

  • Your bank might only allow setups via the internet to its own country. This is correct for Credit Agricole in France who only allow you, on line, to create transfers to France and French overseas possession codes. If this happens contact your bank who might give you an authorisation form to fill in.
  • Then the Revolut IBAN account number is checked against the BIC and might fail. This is because the IBAN is Lithuanian and the BIC British. Revolut know about this and are trying to fix it.
  • Some people have had success with adding three Xs to the end of the BIC (REVOGB21XXX) for the pairing to work. Theres been a lot of discussion about this pairing which seems to work or not depending the checking software your bank uses to verify the IBAN.

When you can get a transfer set up remember to send small amounts to check its working before using it for large amounts.
HTH


#2

Good summary, thanks.

HSBC France: IBAN vs BIC issue


#3

Fineco Bank Italy: IBAN vs BIC issue
INGDIRECT Italy: IBAN alone requested - success !


#4

When you contacted HSBC what did they say?


#5

HSBC France: IBAN and RIC required, and their system does not accept the combination of the two provided by Revolut.


#6

But when you contacted them directly and complained did they refuse to correct their system?


#7

We are working on making adjustments to fix any outstanding issues that are occurring with this. Keep an eye out for announcements. Please contact us directly if you are unable to complete a transfer with these details and we can help!


#8

Yes: HSBC will not correct their system just for one individual. But Revolut can help if you contact them on this matter.


#9

Openbank Spain: Only IBAN (not BIC requested) - fail