Receiving money in USD and transferring out to GBP / MXN


#1

Hi there,

I’ve got a few questions as I’m looking to open a Revolut account but I’m not sure if it’s the right option for me.

I’m a UK resident, however I receive money regularly in USD. I wish to transfer this money out of the account into either GBP or MXN, depending on what I require at a specific time.

The total amount will be under 25k GBP per year.

Is this possible with the Revolut account, and are there any fees or restrictions regarding the transfers?

Thanks!


#2

MXN cannot currently be held with Revolut, GBP and USD however can be.

Revolut does not currently have accounts in the US but you can receive USD as USD in the British accounts (though be aware that these will be SWIFT transfers with applicable fees). You can then exchange these amounts to GBP and transfer it anywhere you want (once again fees though, if you do a SWIFT transfer).

Keep in mind, your account needs to be verified and - particularly with a higher amount like 25k - these funds should be verified as well. Meaning you will need to raise your top-up limit and confirm the origin of the funds. Also, you’ll need to sign up for a paid premium account as you’d otherwise be limited in terms of exchanging funds.