Revolut lands in the USA!


#166

tested and surprised to get charged 3.3 $ fee. 2 days later transferwise announced lower fees…


#167

I made my first $3.30 transfer on Monday but I didn’t say anything as I didn’t know if it was an special discount or something permanent and available to everyone.


#168

Can you top up with USD in Transferwise?


#169

I’m confused by your question, and I would need to ask what do you mean exactly.

The short under is yes, of course, you even get a local US (USD) account under your name without any extra effort. ACH transfers are free from all US banks, and this account also accepts SWIFT transfers from many countries.


#170

Thanks for that. Unfortunately the specific country i would like to transfer USD from is not accepted in Transfer wise. (The bank is outside of the US).

"*International Wire / SWIFT can only be accepted from the following countries: Australia, Austria, Belgium, Bulgaria, British Virgin Islands, Canada, China, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Guernsey, Greece, Hong Kong, Hungary, Iceland, India, Isle of Man, Italy, Japan, Jersey, Latvia, Lichtenstein, Luxembourg, Malta, Netherlands, New Zealand, Norway, Philippines, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, Taiwan, UK, and United Arab Emirates. "


#171

@Sal before I got my unique multicurrency IBAN wiyh Revolut I had to receive SWIFT/USD on worldfirst, then transfer the money to transferwise and from there to revolut… it was quite annoying. I’m really happy I survived the advancex onboarding process.


#172

So here we are in Q3 already… time flies!
I guess for now US ACH routing will come Q3 now until we ask again on September 30th? :smiley:


#173

So after all these Landing in the USA announcements, dating from last year, a newspaper headline from June 5th, 2018 states: “Revolut CEO Says Firm Will Apply for US Banking License”. Only a month ago the legal process begins?


#174

Revolut Technologies Inc and the BIC REVOUS31 has existed for a while, but they might have tried different approaches before choosing to apply for a banking licence.


#175

Hey.

I’m moving to the US for 4 months in August.

As Revolut hasn’t launched with a personal USD account yet i would need to use Transferwise to pay (University Housing). Anyone with experience on how to transfer USD from revolut to Transferwise without any fees?


#176

But :r: have a personal USD account, so you’ll be able to use your :r: account during your 4 months stay in the USA :slight_smile:


#177

I will be using the revolut card to pay everything, but my university housing and dinning prefers paying with echeck, where i need an account number and routing number, which revolut doesnt support yet as far i know.


#178

USD at :r: is still SWIFT-only


#180

Any tips on how to transfer USD from Revolut to transferwise?


#181

transferwise’s usd account accepts SWIFT transfers from the UK so there is no problem or cost on sending USD from here to there.

I would use the ACH routing number instead of the wire routing number when creating the counterparty here but I doubt it makes any difference.


#182

So i can buy without fee on revolut and transfer the USD to transferwise and spend it there. That way i wont be charged the currency conversion fee by transferwise?


#183

Yes. You will only be charged the fees for the SWIFT transfer including any additional fees taken out from intermediate banks during the transfer. Depending on the amount to be transfered - let’s say £5,000 - these fees might be higher than the conversion fee at Transferwise.


#184

From experience there are no fees for SWIFT USD transfers from :r: to transferwise, and a single $3.30 from transferwise to :r:


#185

As an example, if I transfer $1000 the $3.30 transfer fee equates to .33 percent. This is about the same I have to pay for the conversion from USD to EUR at my local bank.


#186

what bank is that? under 0.5% markup on a bank is really impressive.