Salary from UK

Hello,

I want to receive my salary from my UK employer in my Revolut account but they say they need a British bank account held in my name and not a subsidiary/intermediary.

Is my Revolut personal UK current account OK for this?

Thank you in advance.

You personal GBP account (the local one, not SWIFT) should be fine in your case.

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Wont REVOLUT LTD or PREPAY TECHNOLOGY LTD show up as the beneficiary when they look up the account?

My understanding is that your name will show when you use your Personal Account.

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If you search the 23-69-72 short code, the beneficiary name that shows up is “PREPAY TECHNOLOGY LTD”…

if you are UK resident better get your salary paid to a licenced bank like Starling

https://www.starlingbank.com/

if you aren’t, Transferwise borderless will also give you a proper local account and then charge you 50p to transfer the pounds to your revolut account

That is my problem: I work in the UK but I don’t live there so I can’t get a proper bank account (banks require a permanent address).

I will try with Transferwise. I see from the site that they charge 70p for 200 GBP transfer.

Is it better to transfer to Revolut and then change to EUR or change directly from Transferwise?

another option for you is monese

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Thanks for that too.
Do you know if there are any hidden costs/charges when transferring money from the Monese account and how safe it is?

transferring the GBP to Revolut and exchanging them here will give you a better rate, but you always have the risk of getting your :r: account blocked unexpectedly…

Why would something like that happen?

Monese works well, basic U.K. current account functionality is good.

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monese is a very safe and well behaved challenger. but you might want to do your exchanging via transferwise, currencyfair or :r:evolut to receive more EURs

alleged security concerns, look around this forum. it happens quite often… sadly

That’s too bad.

I guess transferring from Monese straight to my normal EUR bank account would be an option but I might loose some EURs due to their exchange charges (Foreign currency change:
2% fee).

imo monese+transferwise will give you the best balance between:

  • making your employer’s accountant happy
  • keeping your money safe and without risk of been locked out
  • maximice received EURs

monese+revolut will give you more EURs but at higher risk. I take that risk :wink:

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