Revolut launches in Australia! 🇦🇺

Today, we’re starting to roll out beta in Australia! If you have any friends or family signed up to Revolut in Australia, you’ll be able to send and receive money instantly, for free!

Join the waiting list here: http://revolut.com


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great news!
when do you expect business accounts to get local AUD details?

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I am still being charged to top up using an Australian card. Is this supposed to happen?

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@AndreasK, do you really mean “free”? In order to be free, Revolut needs to implement local Australian account numbers for AUD accounts and to charge no fee for topping up with an Australian debit card. Please could you confirm that both of these have been implemented. If not, what has been implemented this week with respect to Australia?

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Cool, when will we be able to deposit from Australian accounts into our existing Revolut account for free?

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What I can see on Twitter is that Revolut doesn’t charge fees on card top ups (while the banks charge the users for that in addition).

No local bank acount to top up yet but they are working on it™

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In that case, what have Revolut launched today? If all they’ve done is remove the geo-block on residents of Australia having an account, that is not a launch!

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a hyped roll out of the beta

TransferWise can give us local Australian bank accounts. Why not Revolut?

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Eh, they don’t give you a bank account. They give you local details that forward the money to be held by them in a bank authorised to do so.

It’s a little different, you couldn’t use it to set up Australian DD’s or equivalent AFAIK. On top of that the money sent to the account has to come from an account held in your name, it’s certainly not equivalent to a normal banking licence.

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that technicality isn’t really relevant. we don’t even have direct debit in the home country of revolut.
key is to have local details under your name so locals can pay you as just another local, or so you can top-up without getting charged extra for making international payments

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this is wrong

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For most intents and purposes they do. They give you your own local bank account details, including a BSB code and your own account number, that in effect means you can do local transfers and allow others in Australia to do bank transfers to you free of charge.

The fact that it’s a virtual bank account isn’t important for most practical and day to day purposes.

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They got an Australian office, funds from Australian customer’s are held in accounts with Australian banks and Revolut’s services are offered with permission by the local financial authorities. This is not “removing” a geoblock, this is establishing necessary groundwork to offer services on a different continent.

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This is absolutely right! It’s not a simple “removing” a geo-block. It’s an official launch, and all the funds are held on trust with a major Australian bank. Also, top ups with Australian issued cards are completely free.

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Really??? I’ve asked a few friends to sign up and they did using my link but I’m still stuck in the queue.

Could you please explain? I don’t like spamming my friends and family (to a point I was painful) for nothing. When will I be able to use the service???

Thanks

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Thanks @AndreasK. My reason for asking is that a dual British/Australian friend of mine, whom I introduced to Revolut, needs to move a large inheritance from his Australian bank account to various other currencies, mostly GBP as he spends most of his time in the UK. He doesn’t have a debit card on his Australian bank account, but he can send bank transfers. On international bank transfers, his Australian bank imposes both a low per-transaction limit and a high per-transaction fee. Therefore can he send domestic bank transfers in AUD to his Revolut account?

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