new eur UK iban - accepting payment via swift


#1

I gave my new eur UK IBAN to someone in the US sending me dollars via SWIFt.
Is there any reason this won’t work? I keep reading something about “SEPA only”, but if I understand correctly swift works with sepa accounts?

Oh and, sender didn’t have any problems with the bank errors (like with the previous LT IBAN).


#2

Interesting.

To my understanding, this wouldn’t be supposed to work, as your IBAN refers to a EUR account, not a USD one. But maybe Revolut sytem is smart enough to make an automatic FX operation to convert the incoming USD.

Please keep us posted.


#3

Normally banks will convert money sent in a different currency, but this IBAN is not for a bank account but a virtual one, and as revolut stated it is only for EUR SEPA transfers, so I really doubt a US swift transfer is going to work, or that even a SWIFT eur transfer would work either.


#4

Did it work? Please keep us posted…


#5

No, there was some problem and sender got money back :confused: