Hi,
I have activated my Revolut EURO account and have the personalised IBAN and BIC numbers. My crypto currency exchange, Kraken, requires Bank Name and address. What name and address should I give them to ensure the transfer isn’t held up?
Thanks,
BoeingPete
Thanks for the response, but I’ve sorted it out with the help of Support, and my first transfer went through successfully this morning.
In short, Kraken only make SEPA transfers to accounts with the same name as the Kraken account, and a personalised IBAN number.
This is easily obtained by adding a Euro account on the Revolut App. Then select Top Up and bank transfer for method of transfer. You then have the SEPA and SWIFT options. Under SEPA youll get an IBAN number and a BIC number. You need both for the Kraken withdrawal setup. The Bank Name in the Kraken setup up is Revolut Ltd. Kraken charge €0.09 for a transfer. There is no charge from Revolut. I received €99.91 (€100-€0.09).
Once I confirmed the Bank Name required it was all pretty straightforward.
Hi Peter,
Thanks for sharing your experience.
I am not having the same luck you had. When I add on kraken account the info in “Local” description of Euro Revolut Account the exchange refuses the bank saying " Bank not allowed "
I figured that the error is the BIC with REVO it gives error, with the LOYDS bic it go well.
If I go with SWIFT though I have to insert the beneficiary code and cant’ use my name as imposed by the exchange.
Can you explain what info you used to set it up?
Thanks
Sorry I didn’t respond but I didn’t see the notification of your post.
Did you manage to arrange the transfer?
Peter
Hi peter,
No I haven’t 
Can you help?
Will get back to you shortly. Away on a busy business trip till Wednesday morning, but get back to you then with instructions on how to setup the Kraken transfer.
Hi Peter, are u back yet ?
Please let me know when you have time to help me with this.
Best,
F
Hope to get something out to you tomorrow. Been away for 9 days so got some chores to do first.
Peter
P.S. Just one thing and this is important. Is the name on the Kaken account the same as your Revolut account. They must be the same.
Hi Francesco,
In order to setup the transfer there are 3 conditions you must meet.
1.The name on your Kraken Account MUST be the same as the Revolut Account.
2.Kraken will only make SEPA transfers.
3.You must have a EURO account setup on the Revolut App. It doesnt need to have money in it, but must exist.
Firstly open the Revolut App and select Accounts on the bottom left side and then select the Euro Account in the section above. Touch the figure at the top. That will will give you a screen with a choice of LOCAL or SWIFT bank details. You will be using LOCAL.
For security I have the deleted numbers on the IBAN and BIC numbers, but the page you need in the App should look like this one.
Now open your Kraken account and select the FUNDING tab.
Then select WITHDRAW. After that has loaded select EUR(EUR) in the left hand column. Note: they only use SEPA transfers!!
Now select Add Account.
Using the details from the Revolut App enter the details. Here is a copy of my Kraken account transfer page.
That’s all I can tell you. Setup like that it transfers every time. Some days within a couple of hours, and other times it might take 24 hours, but they have always gone through.
Good luck and let me know how you get on.
Peter
P.S> CHeck the names on the accounts and make sure they are correct.
Hi Peter,
yes. is the same name !
Thanks,
F
Hi @peterlinn … I have the same problem. I followed your steps, but still bank not allowed.
Thank you!
