My account still has a GB IBAN. I thought everyone was going to be migrated to Lithuanian IBANs? I live in France.
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Double check your residential address in your profile. What does it say there? The migration period for EEA customers seems to be completed. The process now might be more complicated, like closing the UK account and reopening a EEA account.
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It says France, which is why I am puzzled.
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If I remember correctly, the migration should have been completed late 2020. Have you ever received any notice from Revolut, via email for example, that your account is scheduled for migration?
I think being puzzled is the correct response. It is puzzling to imagine how an account could slip through. I can’t think of a reason how.
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I received an email 20 November 2020 stating that
In one month’s time, we will start moving our European customers over to this European electronic money license. You don’t need to do anything. We’ll take care of everything and contact you again when we have made the switch.
Since then I have not been notified that the switch has taken place.
I will ask Revolut support.
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Well, this is “interesting”… Below the response from support:
We regret to inform you that at the moment it is not possible to take any action on your profile. The technical issue on the account was caused by Brexit and the changing of regulations that we strictly follow to keep your account secure.Due to the complexity of the process, we advise our users to close the account and then open a new one under the same address, by this way you can use the account fully once you provide your valid document and pass the account verification.
I am not surprised. The initial migration is completed. Something kept your account from being migrated. And since Revolut does not offer options to switch legal entities (outside of planned bulk migration), closing and re-opening is what they recommend.
I should just have left it and not asked any questions… I could have done without the hassle of re-doing KYC, getting new cards sent out and also replacing the <18 card for my daughter, who is overseas until July. I also expect the threshold I have built up on card top-ups will be reset to zero, causing more headaches. Nice!
Well, if you’re lucky, you’re going to be rewarded with an FR IBAN, skipping the LT IBAN altogether.
Can you maintain the GB IBAN while residing in France? Is it mandatory to close the GB account?
This is just an example:
If I currently live in Spain but plan to relocate to Italy in two months, is it mandatory to close the ES account and open a new one, or can I retain the ES account? Because i can come back to Spain
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Can you maintain the GB IBAN while residing in France? Is it mandatory to close the GB account?
No, you are changing legal entity so your IBAN needs to change.
If I currently live in Spain but plan to relocate to Italy in two months, is it mandatory to close the ES account
As long as you are only moving within the EEA (and not to/from UK or Switzerland), there is no need to change anything.
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What happens if you reside in France with a GB IBAN? Revolut did not migrate your account because an internal issue, it is not your fault if you have that IBAN
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As soon as they discover that a customer with a GB IBAN is residing in France, they will request that you go through the closure and re-open procedure. If you don’t, they will close your account anyway.
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In the last case, if they close your account due to the IBAN, can we open another account? I noticed in the Terms and Conditions that if they decide to close the account, you won’t be able to create a new one
But I guess this is different, and maybe we can open another if we were in this case
Nevermind, at least you got an FR IBAN. I got an ES one, and I like it, now I can do more things with it
I suggest to check the FAQs regarding changing address and country of residency. This should help to clarify the situation for you.
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In my case atm i don’t change the country, but maybe in the future i need because of family. But it would be temporary, I will ask through the chat, if i need to close and reopen the account i will do in that moment then
Here’s something to keep in mind: as a EU citizen, you might have a permanent residency permit. I am not suggesting not to follow the obligation to keep Revolut updated about your residency address, but depending on how temporary your time in another country is, I would think about maintaining a „home address“ in my home country.
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Thank you very much for your clarifying response
Just to clarify: My French address has been updated on Revolut’s systems since 2020. For some reason, the move to an LT IBAN never happened even though they notified me it would. It was only when I contacted them that they “discovered” I was living in France. Go figure.
I have just discovered I have the same problem but I am in Ireland. I need to change to an IE IBAN so that I can link my YNAB budgeting app with my Revolut accounts. The customer service has been ludicrous, they are using grandisose statements that mean nothing in an attempt to placate me while offering no real solutions beyond closing my account and opening a new one, while seemingly not caring that I will have to re-enter all my contacts etc again and lose in account access to my transaction history. I am starting to believe that they are not human and are actually a bad AI, although they insist they are human and native English speakers but I don’t believe them, their wording of things is really off