Receiving USD from American Business to Revolut Account

[Wilco]

Hi there,

i sold some items to a US Business, i’m just wondering if i can use my Revolut USD Current Account to receive the money from them in USD rather than Pound Sterling? My figuring is that it’ll cut down on the charges for me and them - Natwest it seems charges an arm and a leg to receive money, so is there a limit of how much i can receive from an American person/business and how long will it take to receive the money? anything else i need to know, i.e limits etc?

[capital]

@Wilco

Revolut USD Current Account to receive the money from them in USD rather than Pound Sterling?

:R: doesn’t offer ACH/ABA at the moment (will do in the future.), so there’s a pooled USD IBAN but it’ll be via SWIFT. You’ll have to pay fees on that front.

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@anon33247966

Yes, you can receive third party transfers from friends and family directly into your Revolut account in any of these supported currencies:

GBP, EUR, USD, CAD, AUD, CHF, DKK, HKD, HUF, ILS, INR, NOK, NZD, PLN, SEK, SGD, TRY, ZAR.

It’ll be via a pooled IBAN, however. Your counter-party will have to send the money to :R:, and use a reference number so :R: will be able to identify the recipient (You) and direct it to your account.

Will depend whether the ‘US business’ is happy to send it to Revolut (company) as opposed to you (individual.).

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@Wilco

how long will it take to receive the money?

The app says ‘1 to 3 working days’.

@Wilco

how much i can receive from an American person/business

@Wilco

anything else i need to know, i.e limits etc?

@capital

@kotrfa

I would like to know how exactly annual limits works.

Annual limits tend to cap out at 30 grand or so for users that have had their :R: account for a while.

Any further increase will require provision of documentation.

@capital

@capital

The yearly top-up limit can be increased via the provision of documentation.

@kotrfa

But without first sending it to my account, I cannot get bank statement (since I have never received this money elsewhere then Revolut).

Invoices may be fine, but I’m not too sure about that. Best check with :R:.

If you’re topping up from a different bank account, then bank statements will be required.

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@kotrfa

Is it possible to use Revolut account number to receive money from e.g. my client directly?

:R: offers current accounts (Sort code, account number.) for UK customers. Therefore it is possible to receive money from a client directly, from his/her account to your :R: account, via the current account details.

I’m not sure how verification will work for that (given how it is a direct transfer, and therefore no bank statements, as you mentioned, from the topping up account.).

I personally think provision of an invoice will be fine, but that’s just a guess.

You will have to check with @anon33247966.