Receiving Salary from UK company(resident in EU country)


#1

Hello,

I am using Revolut like a Debit Card for more than 1 year and I am very happy with it.
Currently, I am looking the option to receive my salary from my UK employer to my Revolut account (GBP or EUR) and I want some more information regarding this as it seems that there are a lot of conflicting answers and bugs with this service.
To make it more clear I want to receive my salary to my Revolut account.

  • As I am not living in UK (EU country resident) does it worth to create a GBP current account and then convert the money I received from pounds or Euros or should I create directly EUR account?
  • How much time does it needed till my salary appear on my account?
  • What info should I give to my company except Beneficiary, IBAN and BIC?
  • Once i receive my salary I want to sent a percentage of these money to another account on my local bank. How many days does this transaction takes and what info are shown on the transaction details on my local bank account?

I hope you all understand my questions and any information on this topic will be appreciated.

Many thanks to the community.


#2

In which currency are you paid?


#3

don’t avoid the GBP account. it will make it easier for your employer to have a domestic/local account to pay you there and it would avoid their bank doing the exchange


#4

Make incoming transfers to Revolut always in the currency of the sender’s account. If the company pays you in GBP, upload GBPs to Revolut. Otherwise, you won’t be able to profit from Revolut’s rates for exchanges.

The same as for regular transfers applies.

Use sort code + account no for domestic UK GBP transfers (not the IBAN + BIC as shown under SWIFT), if a UK company pays you from a UK account.

That depends on the kind of transfer. SEPA transfers usually take about 1 business day.

You can find more details about different transfer times via Help Center.


#5

I am getting paid in pounds


#6

In this case you should definitely receive it in the GBP account. They are paying you from a British account, right?


#7

yes correct. Thanks for this clarity.


#8

In that case activate your local GBP account and tell your employer the relevant data for that account (sort code, etc.)


#9

as a general rule you want a :r: account on each currency you receive and pay, so you can take advantage of Revolut’s exchange rates


#10

But what am I going to use as Bank Name and address?


#11

I totally agree with this. Thanks


#12

Doesnt it show that information on the GBP page as well?


#13

No. It only shows beneficiary, account and sort code.


#14

the sort-code 23-69-72 belongs to:

Prepaid Technologies Ltd
Station Square 1 Gloucester Street
Swindon
SN1 1GW


#15

The sort code 23-69-72 is belonging to:

Prepay Technologies LTD
Station Square
1 Gloucester Street
Swindon
SN1 1GW

Furthermore:
Faster Payments can be sent to this sort code.
Bacs Credit payments can be sent to this sort code.
Bacs Direct Debits can be set up on this sort code.
CHAPS Payments can be sent to this sort code.


#16

Many thanks Alejandro.


#17

if your employer requires something more like a bank you can open one as non-resident with monese and transfer to revolut from there.


#18

Many thanks for that.
Just to give more clarity, I used to live in UK and I have a UK bank account. I moved last year to a different EU country but I still work for the same company. Till now though I am still registered as UK resident which i plan to change and start declaring tax on the country I am actually a resident now (live more than 6 months/annum). So my company will pay me the net salary and I will be responsible for paying my taxes locally. Therefore that’s why I am looking to see what is the best option with less hassle for my company and also less hassle for me.