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.
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.
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.
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?
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.
We are not live yet to the USA, but funds will be stored in a local US account.
That’s great news. Are we (EU) users are going to profit with local US account too?
Good question! What about US citizens that are also EU temporary residents? They already have US bank accounts and get their salary here in the EU. With local accounts on both ends, Revolut would be a killer expat financial hub.
Any updates on timeframe for Personal accounts in USD? @anon33247966
What kind of landing was this? – I’m 3929 on some advance list as of this morning. – Feels like I’m still airborne
Well metaphorically it’s landed. It’s just that you’ve not disembarked yet.
ah… I get it … I’m effectively on Wowair, waiting for my connection in Reykjavik
That’s coming with our USA expansion, which is expected for Q1 2018.
@anon33247966 wow, only 25 days to answer, that was fast…
Jokes aside, how is it going to work for us EU residents? Are we going to have a US bank account that works like a local US bank account?
You’ll have a USA personal ACH.
Txs, that will be great and IMO take Revolut to the next level. Also because a lot of the exchanging and transactions for us digital nomads happens between USD>EUR. Cheers!
I’m late to the party but I have questions about this!
I already have Revolut in the UK, but I am an American expat and will be moving back to America in 2018. Glad to hear you will be there. If I want to continue using Rev there, must I apply fresh on the US page? Or can I continue using my same card and account from the UK?
I’ll have a new phone number, and expect to be in both places for a little while as I settle in, if that matters.
“has landed” and “is launching” are two very different things. Especially if you want to use the moon trip as an illustration!
Just like the Lithuanian bank thing, please stop hyping your future plans as if they’ve already happened.
I’m not trying to be an enemy. Revolut sounds like a very good thing. But the above issues are making it rather difficult for me to be sure.
Hi, any update on when you will be launching in the US? I am leaving to Scotland on December 26th and would love to use your services.