Please fix the SEPA TRANSFER issue.


#1

Since 26th January BIC REVOGB21 has issues and many customers have failed transfers.
The BIC derived from the IBAN for users including me changed to REVOGB2L rendering the orders in limbo state.
Revolut neither acknowledges nor provides any resolution so far.
Please fix the issue ASAP without asking the customers to intervene.
Thanks


Transfer from Paypal still pending
#2

Your bank has to update their systems.
Same happend to N26 users at the moment they got their own banking license.

The transfer with the wrong BIC will be returned to you by your bank.


#3

Hi
Thanks but I doubt Slovenska sporitelna the biggest Slovak bank is to blame and update systems.
This REVOGB21 becoming REVOGB2L did not come out of the blue .
So far no bounce back.
Support says if it doesn’t bounce we should recall it.
Which if it works it is 10 eur cost per transfer.Which is not our fault in the first place.
Until this issue is resolved by Revolut everyone should think again about transfers as they might get in the same situation like us.
And why if this is the case doesn’t revolut call slovak banks to update their systems it’s absurd


#4

Here is the latest response from helpdesk

As you can see in the app the correct BIC is REVOGB21.I am so sorry but this is not our fault. Unfortunately, we are not able to contact your bank, your fund should be returned to your account in 5 working days.


#5

My test 30 EURO transfer to LOYDS swift account I did yesterday worked but of course I can’t advise you to do that instead of the local SEPA payment.
I dont see an extra cost for it.
Thanks


#6

No, that is different here. It worked for months. There was definitely a glitch, the database was updated with a wrong BIC code. This has been corrected early this week. As soon as banks update will have updated their systems again after Tuesday this week, they will be back to normal. It can take longer especially for smaller banks.

(The pooled account is a good option in the meantime.)


#7

Using the details as shown under SWIFT will still work as a SEPA transfer, I believe. Since the details are meant for international transfers, they might have labeled it SWIFT to reflect that. But many customers from EUR countries have reported that they didn’t pay a fee when they used these details. (Haven’t tested it by myself but it seems very plausible to me.)


#8

I had the same issue and my money is disappeared: neither on my revolut neither on my bank account!

According to my bank, the transfer went through. Revolut says it was not received. Where is my money? When is the transfer being bounced back to my bank? It has been more than 8 days!!


#9

Join the club man so far all I got is they bounced it back after the 31st of January but nothing yet.Any lawyer in this community that can help us in what to do?


#11

Has anyone called them or knows their uk landline?I cannot call 0800 numbers from voip unfortunately.


#13

Can everybody contact them? Or British people only? How about the FCA? Or is there an european organisation/authority for such inquiries? This is no longer funny.


#14

Revolut PLEASE say something about this issue. Lots of people are missing their money!!!


#15

i’m in the same situation ! it’s been 10 days i’m waiting for my money. i contacted the assistance but they can’t locate my funds…


#16

Ok technically since we isolated the issue started on the 25th if we exlude the weekends we are at maximum 6 working days time elapsed since the so called bounce back.This week should be the maximum limit then there is no excuse.


#17

I know it’s already known but just again for visualization

a screenshot of the latest 4 top ups from my private bank account
From what i can see that at least for my bank the issue still exists, the latest test top up (0,01€) would still go to REVOGB2LXXX.

maybe someone has a deeper insight in the banking world, but from where does the banks derive the BIC from the IBAN?


#18

Your bank has to update their system.
Last friday (2 feb) I did 4 transfers which all arrived at the same time, from bunq (NL) and N26 (D).


#19

not sending any more money until my original transfers show up on either one side …

Support admitted that there was a fault in the SEPA database and said the transfer should bounce back
First it was immediately, then 3 days, then 6 days … still no bounce back

I did talk to the sending bank, but on their side the transfer looks ok and gone through, so nothing they can do

The handling of this by Revolut is ridiculous … the wrong BIC also belongs to Revolut, so I guess it should be possible to speed up the bounce backs and male sure any fees get covered (I don’t expect the funds to show up on my Revolut account anymore, but I want all of my money back as I did not make a mistake at all)


#20

Has anyone had a bounce back yet at no additional costs?If the money returns with handling fees which side is responsible Revolut or the bank.Because such a case has been reported


#21

From “databases”. There is no general answer, since different banks in different countries handle this differently. Smaller banks might update less regularly, bigger banks more frequently.


#22

Yes. My German bank did not charge anything for the failed SEPA transfer with the wrong BIC. Money also bounced back quite fast within 3 days.