Revolut lands in the USA!

Revolut has landed in the US


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Great news, Revolut is launching in the USA to clean up the American banking system and you can sign up for early access now!

:point_right: www.revolut.com/us

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Great news. But what does this mean exactly? It could mean a number of different things:

  • US residents can sign up.
  • USD balances will get their own unique US bank account numbers.
  • Fee-free top-ups in USD will be possible.
  • ACH outgoing transfers will be possible.

I hope that Revolut properly shakes up the US banking system, unlike PayPal’s pathetic efforts for many years to do so. As a taste of how backward the US banking system is, when I use my US bank’s online banking to make a payee to a third party such as a friend, my bank does not ask me for the payee’s ABA routing transit number and account number, but instead for the payee’s postal address. My bank then sends a cheque in the post to the payee! This is common to most US banks.

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We’re expanding our services to Asia & North America by the end of the year. US residents can sign up and get early access!

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@anon33247966 - How will US residents be able to top up in USD? There are currently no viable methods.

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We’re working on USD personal IBANs :slight_smile:

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@anon33247966 - The United States doesn’t use IBANs. I suggest you look at International Bank Account Number - Wikipedia where there’s a map of the world showing which countries use IBANs.

In any case, how would a US resident use an IBAN, personal or otherwise, to top up in USD?

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Correct, the US needs ACH if revolut wants thousands to jump on the bandwagon!

There has to be free deposits from start there as their creditcard fees are crazy.

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That’s right. My fault, I mean ACH and wire.

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Therefore do you mean an ABA routing transit number and account number rather than an IBAN?

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I would, of course, welcome the enlargement to other countries, but I would welcome even more support for all EEA currencies. Still missing BGN, CZK and ISK. :slightly_frowning_face:

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And yet still no Apple Pay.

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I’ve been moving money from my USA debit cards to Revolut using Apple Pay. Works instantly without anyone taking a percentage (use Capital One 360 or Schwab Bank). Caution, I haven’t tried it in six months. My dream is for Revolut to enable the moving of money from USA debit cards to IBANs without taking a percentage (similar to IBAN interchanges). Even then Revolut can only be recommended to a slightly larger fraction of my friends.

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ACH pull is what TransferWise use to get cash from US accounts - it’s a great way of funding, especially as most banks don’t easily support wire transfers out (ACH push) online or on their apps.

@anon33247966 could you take a look at this? I would think Currency Cloud implement it though I’m not 100% certain.

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:r: is still a startup and from time to time has problems, sometimes critical ones. I hope they have superb lawyers or otherwise when things go wrong in the US of A they could cease to exsist.

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Hi there,

I have a UK Premium account, but also have a US bank account, does this mean i can now send money to my US bank account free of costs without incurring wire transfer fees from my chase bank? Just like transfer wise?

Thanks

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Where are funds stored for USA customers? Are they in a foreign (outside the USA) bank account? If so, this may require these customers to file an FBAR with their taxes to declare foreign accounts to the IRS. This is a big deal that customers need to be informed of if its the case, as it could unwittingly put some in legal trouble.

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We are not live yet to the USA, but funds will be stored in a local US account.

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