Revolut for Business - How far have people got?

Thanks for your help. I can confirm my card is now active :thumbsup:

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Glad to hear @jagnew! Just ping us here, on web support chat, FB or via business@revolut.com whenever you run into similar issues. Thanks, Andrius

So it has been about three weeks since I last posted. We’ve started receiving invoices into our Revolut account; we had the first decent size dollar payment come through on Friday night. On Monday morning (today) we converted all of it but $5K into GBP and sent it on to our Barclays account. Everything worked as expected and we got a brilliant exchange rate. We’ve also been using the physical and virtual cards to pay for items over the last two weeks with no real issues. We’ve had two times where a card payment hasn’t worked, but this is no different to when I use Monzo on regular basis.

In short, I feel now the little bugs have been fixed it’s worth giving a business account a go.

@andriusb I was wondering now its been a few weeks if you had a better ETA of the developer API? Thanks

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Hi @jagnew - thanks a lot for sharing your current update. We’re glad it’s been working (improving) well for you. It’s just the beginning and there’s so much more work to do.

With regards to APIs - we’re almost done with the ‘payouts’ part. We aim to share it on developers site within a few weeks to make sure everything works appropriately.

Thanks again and talk soon

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I have been trying for weeks to get this open and encounter bug after bug. Cant say that i am that inspired and think i will give up until they sort out the issues, might be back

I’m in! A bit bloomin’ scary! One thing which is a shame is that the bank accounts are named “Revolut LTD” so I hope this doesn’t cause issues for people adding money to our account!

@andriusb is this likely to change? Will we have accounts with company names as the title in future?

Hi @dahacouk - good to see you onboard!

Initially, businesses are onboarded for their unique GBP (account number / sort code) and EUR accounts (IBANs) to receive, hold, exchange and send money in their companies name (by the way, your GBP and EUR will be generated within a couple of hours). Following additional compliance checks by our banking partner, we will also be adding additional 23 unique currency accounts. I’d expect a week or so for it subject to additional compliance checks of course.

Let us know (via here or via business@revolut.com) if you have any additional questions or requests - we’re here to help you out!

Cheers

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Hi @andriusb thanks for the quick reply! I understand that these accounts have been set up for me now. Thanks.

But, my question/issue is with the title/name of the account holder is not my company but Revolut. And also that there is a need for a reference number, which is pretty non-standard way of working.

I work with some very established firms and want to know if/when we’ll have our own accounts with our own account names on them?

I’m not complaining. I’m just asking.

Am I making sense? Cheers Daniel

@dahacouk We have our own name under the accounts, maybe they are still processing yours. http://share.agnew.co/GOxEKE

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Thanks @jagnew ! I now see, after a similar answer from web chat support (I love that!), that is what @andriusb was trying to say too! Thanks. All good! I love this!

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Where is the developers site? Or not launched yet?

Don’t think there is one yet. Looking forward to the API so I sync Revolut to FreeAgent and have transaction notifications pushed through to Slack

https://github.com/revolut would be a nice start! :wink:

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Well, until @andriusb likes my idea to Create “Business” category for this community I’ll keep on posting questions here!

1: How many accounts for each currency can I have? Is it unlimited?

2: What are the reasons for having a different account within one currency? Separate projects?

3: Will we be able to switch which card uses which account for ever and instantly? For instance, can I make a EUR card purchase using one account, switch the account for the card, and then use the card again to make a purchase with another one of my EUR accounts?

Cheers Daniel

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hi @COlin_U excellent questions!

  1. How many accounts for each currency can I have? Is it unlimited? Unlimited.

What are the reasons for having a different account within one currency? Separate projects? Yes, separate projects / teams / locations

Will we be able to switch which card uses which account for ever and instantly? For instance, can I make a EUR card purchase using one account, switch the account for the card, and then use the card again to make a purchase with another one of my EUR accounts? Yes, instantly.

Let know if any additional q’s!

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Actually @andriusb it’s @dahacouk and not COlin_U. Anyway, I have another question:

Can I have a EUR account made in DK and not LT. I am trying to sign up to Stripe and you are totally incompatible!

Cheers Daniel

Hi @dahacouk sorry for the name mix up

Of course, once you’re fully onboarded, you will have DK and / or DE IBANs on top (or instead) LT…

Let me know via here or via business@revolut.com if any additional questions

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Great @andriusb ! And will you allow GBP registered account with UK IBANs?

Thanks @dahacouk - our IBANs are multi-currency IBANs which means that the same IBAN i.e. DK… is valid to receive multiple currencies (Sender sets which currency he’s sending to). So in your case you have your GBP IBAN as DK… which will work to receive GBP payments in. Let me know if any additional questions.

Hey!

I just wanted to plugin here to say we’re very happy so far, bar the minor bugs that @andriusb got fixed for us relatively quickly.

We’re really wishing for three important features which I believe are planned, and wait eagerly in anticipation…

1 - API Access :heart_eyes:

2 - US Local Account number for USD (PayPal really bolting us up on USD conversion fees, and refuse to allow USD withdrawals unless its an actual US bank account).

3 - Direct Debit - I glare at Vodafone who is the only company preventing us fully migrating across as they refuse debit cards and only allow direct debit.

Integration with Xero is a bonus, but figured out using statements in the mean time though think next month might be a bit messy as you can’t export statements with filters.

Thanks!

James

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