Revolut for Bitstamp


#1

Hi,

So, what’s the process of using Revolut to withdraw money (fiat not crypto) from Bitstamp?

In the Revolut app, if I go to top up via Swift account, it says "Don’t forget to enter this reference: XXXXXXXX"
However, on Bitstamp when choosing to withdraw to bank account, either SEPA or International there’s not field to enter any reference.
Also, is it possible to use SEPA from Bitstamp or is it necessary to use the International transfer?

Thank you,.


#2

Actually, on the Swift account in the Revolut app it says the beneficiary is Revolut LTD, so I don’t think that would work with Bitstamp since they require that the account is in my name.

So, how do I go about this?


#3

Does not work with BitStamp, Kraken, Gemini etc because they do not accept 3rd party payments - trust me I tried all of them.

One of the big disadvantages of using Revolut - perhaps they want to keep it that way so that peeps buy Cryptos from them at a huge 1.5% transfer fee… (compared to 0,25 for ones above)


#4

Hmm, I was asking because I saw this:

Did that change?


#5

Perhaps it works with Coinbase only - that I have not tried - but I could not get verified through Coinbase. And their fees are quite high even if suing the GDAX trading trick.

I tried the ones I mentioned above - all failed. Lol and now Revolut locked my account (Thanks!) and I can’t widraw the funds I have there to a mainstream bank to wire it to the exchanges.


#6

Guys, you need to activate your personal local IBAN EUR / UK GBP accounts first. Plenty of threads about this in this forum that go into every detail about setting this up. :wink:


#7

So, the local accounts could be used with Bitstamp if activated?
Do these local accounts have an IBAN?

What option would I choose in Bitstamp to withdraw, SEPA or International?

Also, if I verify my identity with Revolut by making a deposit, can I activate multiple accounts (say EUR and GBP) or do I need to make separate deposits for each?

It seems weird that they define the local accounts as something to get your salary on and pay bills… and going by the name (local) it sounds like they could only be used with transactions in UK.


#8

In case of GBP-yes, it is local. EUR is global.