Receiving money from a third party in my unique EURO iban


#1

When receiving money from a third party in my unique EURO iban, what beneficiary address should be given from the payer? Is it going to be the address that the beneficiary is registered within Revolut (so the personal address)?


#2

This IBAN only accepts SEPA payments, as far as I know, and for a EUR SEPA payment, beneficiary addresses are redundant. Have you tried it out without?


#3

We provide two EUR IBANs, a local one which is personal & SWIFT one which is our pooled account.


#4

so this means that when a third party uses my personal IBAN to send money to me, my personal address should be included in his/her payment, right?


#5

If one uses the personal SEPA EUR account details, an address is not necessary. One of the cornerstones of SEPA is a unified data model. The receiver’s address is not part of that set of informations involved in a standard SEPA EUR transfer.

So chances are high that if a bank asks for or demands the address of the receiver’s bank, it is not going to be a standard SEPA EUR transfer.


#6

Thanks a lot Frank. So in that case that it asks for address, shall I advise the third party to send me money with the SWIFT IBAN (pooled account) using the specific reference given rather than my unique Iban (since this is going ti be rejected)
What do you suggest?


#7

Who is that mysterious 3 rd party? Someone from within the SEPA area? Someone from outside?

When you look at the account details for the local EUR account in your name (in the app), it states that only EUR SEPA payments will be accepted. (I haven’t tried it.) SWIFT transfers are the most common standard for international transfers, but they are costly. You can also check the FAQs about SWIFT fees.