New EUR IBAN, no announcement?


#1

Hey Revolut.

I just scrolled throgh the community news.
I found that stg changed on the EUR IBAN. Was there sny announcement on this? Just some people complain. Is it really a Lithunian EUR IBAN? Maybe all fine but please give information! So LLoyds now replaces and all we got personalized EUR accounts? Sure is a large step forward but be aware that maybe sone clients wouldnt be happy top up to a Baltic EUR account if it is true…


#2

I didnt create my new account yet.
Until then I cant top up in EUR now?
Good that i just didnt topup as usual as the old IBAN is already saved for this purpose.
Would be good to know what it is all about?. Eg how transfers will go from now on, where top up money goes etc…


#3

Its a LT… IBAN with an UK BIC.

But it seems, that the IBAN isn’t accepted by some (most ?) banks.


#4

We did just announce this! If the IBAN isn’t accepted please reach out to us on support chat with the name of the bank and we can discuss this with you.


#5

All good!! As I understand the old way to top up still works - source community- question us how long. As many here I test the new top up - already sent some money…


#6

Your Facebook Comment was that you are in process of introducing UK IBAN for a solution to this problem.Greek Banks do not accept your new iban,Piraeus and Eurobank,as I have already informed yours and their support to take action about this.


#7

I got the money debited after I transferred yday morning from Raiffeisen Austrian account!!! Super Revolut!! So it works from this bank and country!


#8

I also understood from your comment on Facebook that you are going to replace the Lithuanian IBAN with a UK one. Most banks in Greece do not recognize the LT IBAN (Alpha Bank, Eurobank, Piraeus Bank and HSBC).


#9

My final on all this new EUR IBAN. Would be great a communication why a Lithuanian bank IBAN is used? Actually would be good to know where is our money now? In the UK or in Lithuania. The issue is Revolut I liked so much about the transparency - in this thing is rather no communication.


#10

Then you should stay away from those banks. You know what IBAN stands for right? That’s same like not recognising a phone number.


#11

So far the new IBAN doesn’t work in any of my banks, doesn’t work in transferwise, doesn’t work in paypal, good job so far.


#12

•EUR accounts with Lithuanian IBANs: Revolut signed a memorandum of understanding in October 2016 with the Lithuanian central bank (https://www.lb.lt/en/news/the-bank-of-lithuania-and-revolut-limited-signed-a-memorandum-of-understanding-on-expansion-in-lithuania), which turns out, is the framework in which Revolut are able to issue personal EUR accounts. This is an incredibly clever arrangement where Revolut is able to provide personal EUR account services, even if Brexit leads to a ‘hard Brexit’ (as Lithuania will remain a Eurozone country.).


#13

That’s probably because of an issue on the Revolut backend, not because LT IBAN is not real IBAN or Lithuania is not a real country.


#15

Just an update. As I posted in another thread, some of the banks I mentioned, at least the ones I tried (Alpha Bank and HSBC) now seem to be able to recognize the IBAN. However, to be on the safe side I topped up my card using the old method (Loyds IBAN and reference number) until I am certain that everything works fine. Next time that I will need to top up my card I will use the new personal Euro account.


#16

Hi all, when it will be available to transfer funds in EUR form UPWORK account?
Upwork don’t recognize BIC number


#17

when Revolut will replace them with British IBAN s


#18

Yeah, but maybe they can talk to Upwork (they claim to explain how it’s work to banks)


#19

I don’t believe they’ll do such a thing.They cannot inform each bank separately.


#20

Why would they want a british IBAN for EUR account? Not to mention brexit and all.


#21

As a matter of fact,United Kingdom was never a real member of the union,with its ones laws and currency.In my opinion,this will be a light divorce and a win win situation in the future.