Salary and IBAN


#1

Hello,

I have two questions that I was hoping that someone can answer:

  1. I would like to receive my salary in my revolut account. I am paid in USD. Can someone tell me if there are any disadvantages to using Revolut (instead of a traditional bank account) to receive my salary in USD? I am based in Italy, in case that helps.

  2. I have have no problems topping up, however I have run into issues trying to transfer money to my revolut as a wire transfer from my bank as the revolut IBAN begins with “GB” and I do not have a UK address. Does anyone have any tips on how to deal with this?

Many thanks


#2

Personal USD ABA/ACH addresses are not yet available.

In the pipeline at the current moment, rolling out soon.

Therefore you cannot use it to receive USD at the current moment.

The new personal EUR IBAN (With GB, rather than LT.) should be functional.

Problem seems to be on your bank’s end. Best ask their customer support team.


#3

Thanks. That is the problem, I have tried to transfer with the EUR IBAN, however I do not have a UK address (based in Italy), and several prompts must be completed that ask for a full the full UK beneficiary details (which would be me). I am not able to swap this for a local address (i.e. GB corresponds to accounts that are in the UK, not elsewhere in Europe). This is the norm for all banks, not only mine. Is there anyway to troubleshoot this?


#4

I’ve not tried out the personal EUR IBAN myself, but from what I’ve read so far here, there appears to be no issues to do with this. A significant portion of Revolut’s customer base is outside of the UK, in the EU countries that it operates in. Following the switch from the LT BIC to the GB BIC, I’ve not seen that many complaints about the personal EUR IBAN anymore.

I still would recommend speaking with someone working at Revolut about it (@AndreasK.), but my understanding is that this limitation (since the transaction is outbound from your bank, and inbound to Revolut.) stems from your bank’s interface, the problem can only be resolved by your bank fixing this situation from their side.

All Revolut personal EUR IBANs have ‘GB’ in both the IBAN and the BIC. However, given how they are issued by the (central) Bank of Lithuania, transactions will be within the Eurozone using SEPA.