Problem with BIC code (Second time)


#1

Revolut BIC Code is REVOGB21 but my bank (Deutsche Bank Germany) automatically modifies it with REVOGB2L and money transfer gets bounced back. This happened to me last week and I thought that the problem might be a typo error at my end but that was not the case. I made another transfer yesterday and BIC code again got changed. I know the money will be returned back but what is the resolution for this. This seems to be really annoying eventually resulting in sheer disappointment.


problem with BIC code
#2

I made a transfer this morning and Deutsche Bank used the correct BIC REVOGB21XXX. Do you have the IBAN stored in a template or did you enter it manually?


#3

@yongeneglinton Have your transaction being booked? BIC gets changed once the transaction gets booked which usually happens at night for Deutsche Bank. Before that, it displays the correct BIC. I hope it works for you but this didn’t work for me even with my first transaction last week.

To answer your question I have it correctly saved in a template so no chance of a typo error there.


#4

Ugh, I guess I better look out then :frowning:


#5

Yea check it out once the transaction gets booked at night. This seems to be quite a common problem problem with BIC code which apparently started after January 25th.


#6

Would be nice if one of the Revolut guys comment on this? I am just interested in the resolution here otherwise one can always start looking into other solutions like N26 or transferwise


#7

@uzair in your case you should raise the issue to your Deutsche Bank office and they should update thier BIC code database.


#8

Looks like that Revolut change association of their IBAN from BIC REVOGB21 to REVOGB2L, but REVOGB2L is not registered as SEPA reachable, so because most banks have automated IBAN to BIC conversion, payments can’t reach Revolut accounts. :frowning:


#9

@vpashanovski Is every bank having their own database? I thought this was something central. Why would Deutsche bank update this? Shouldn’t this be happening from Revolut side or their partner Lyods Bank.


#10

My understanding is that REVOGB21 is newly registered BIC code and REVOGB2L is outdated, but no one from @revolut makes official statement…


#11

I think that every bank make local copy of data from SWIFT central database and from time to time this database has to be updated… (just speculation from all I have read…)


#12

until recently payments to Revolut went without a problem through REVOGB21, association with BIC REVOGB2L happend recently. But I don’t know which BIC is older…


#13

Please contact your bank if you cannot put REVOGB21 manually and ask them to update their IBAN tables or manually change the BIC for you to a SEPA one: REVOGB21.

Unfortunately, from the details provided I can see that you’ve used non-sepa BIC: REVOGB2L. Please be aware that the correct SEPA BIC which you can see in the app is: REVOGB21. As our account accepts only local SEPA payments, the transfer will bounce back automatically to your bank account. If the funds don’t reach you back within 5 days please ask your bank to recall the transfer.


#14

@AndreasK I know the funds will be refunded but can you understand the frustration here. I already got my first payment bounced back last week and this will also come back but it would be nice if you or any technical guy can walk me through the process here.

Is the IBAN table local to every bank or is it something central? As far as I see this issue is not related to any single bank, in fact, all the other European clients are facing this issue. Isn’t this something @revolut should address instead of telling their customers to contact their banks?


#15

Andreas, can you please stop trotting out the same line and ask Revolut Corporate to put out a statement about this. Myself and others are still missing 1000’s of euros. At the very least the company should be curious why customers all over Europe are facing problems all of a sudden? They should be finding out who caused this hiccup and they should tell the customers this! Myself, the bank that sent me money (Naspa (Sparkasse), DE) is claiming that Revolut still has the money, even though you are telling us that it will be bounced back? I’ve been waiting since the 29th of January. Please, the blame for this problem needs to be resolved otherwise I am going to take this to the Financial Ombudsman.


#16

The problem still exists …


#17

So I just spoke to Deutsche Bank about the problem and unfortunately they are not very helpful. I explained to them that the BIC issue affects all banks, not just them and that they need to reload their BIC tables. The woman just said that I need to wait for the money to bounce back … Whatever I’m getting cheese fries :fries:

This means that for now I cannot use Revolut as my account to receive my salary.


#18

I’m having the same issue! Waiting for 600€ from 1 transfer made on 02.02.2018. What’s happen? Why there is no communication at all about this into your app? I need to come here to knowing it’s simple BIC problem … in this case why is so long? Wich is the procedur to solve this? Where is the support? How to contact them? I was very happy to find this app but for this case i will return to my previous one.

EDIT: 13/2/2018 - my money is back happily … the problem steel unhappilly


#19

I was on holiday for a few days and had the same problem. A topup sent from Deutsche Bank via SEPA to Revolut has been bounced. I used the same template to send the money which I always use. The prior transaction made in January (around 19th) worked good.

On Wednesday, January 31, I sent again some money and it has been bounced and was credited back to me on Feb 5th. At least I have an explanation now what happened.


#20