In my country of residence we have to report foreign bank accounts to tax authority. Emphasis on BANK.
Since Revolut is e-wallet account, I would normally not need to inform tax authority, but considering Revolut provided me with my “personal” IBAN, the account “behaves” and functions as a regular bank account. Considering this I have a couple of questions;
is Revolut still e-wallet account and when will it transform into being a classic bank account ? (legal definition of classic bank)
are personal IBAN numbers actual “personal” numbers of accounts as with brick and mortar banks, or are this some kind of sophisticated reference numbers that appear as IBAN numbers (I read this explanation in the past somewhere) ?
Is it possible to opt-out of IBAN account number in order to retain full e-wallet definition of an account ?
Does Revolut share account information with tax and EU authorities the same way as a classic bank would (EU automatic exchange) ? What information is shared ? is this information shared even if account does not have IBAN number activated ?