Postgraduate Loan Payments into Revolut?


#1

Hi, can I use my Revolut account to get paid my Postgraduate Loan from Student Finance England?

Has anyone tried it?

Thank you.


#2

If all they require is a sort code and an account number then yes chances are you can.

What I (personally) do is keep my money in a Natwest account (which has an okay app) and then transfer in blocks of £100 into Revolut just because of the (really rare) horror stories of accounts being blocked etc

Hope that helps :slight_smile:


#3

Thanks James!

Yes, I hope I get a ‘normal’ bank account, but I think I will not get it on time for my first loan payment… I called Student Finance England to ask and they said I can update my bank account details at any time, even after the first payment, to take effect for the next one, so I might try it out if I don’t get an account on time from other bank!


#4

I’ve not tried it, but if you’re a UK resident and have the GBP as your base currency, you should be able to have a current account (Sort code, account number.) that you can use to receive transfer to.

Keep in mind that Revolut (at the current moment, for now. Rumours abound that Revolut will be applying for a full UK banking licence in due course.) is an eMoney product, and therefore whilst you will have a current account (Sort code, account number.), you will not have certain features such as direct debit or standing orders.

As such, best keep a legacy account for those purposes (Electricity, Internet, council tax, …).