Should my IBAN have changed?

22

I believe Revolut is not equipped to migrate accounts between entities. The support team can not manually transfer the account for you. I don’t know anything about the reasons for this (regulatory, technical, or else), but weather AI bot or real human, they don’t have access to tools and processes to do this for you. If the post Brexit migration failed, closing and reopening an account is the only option Revolut currently offers.

(I am assuming this is about a GB to IE mingrstion, not LT to IE.)

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23

They could implement a migration request button in help section if the IBAN based on the residence is incorrect and there was a planned migration

Or allowing more than one account

24

It’s not that trivial.

The situation after Brexit was a very specific situation, where companies lost the regulatory foundation for doing business for a very large umber of their customers. Revolut migrated in one coordinated effort all EEA customers to a new entity. This process is long completed (almost three years ago).

Revolut now can not move customers between entities without following all regulatory requirements. It seems they came to the conclusion that an automated process of any kind won‘t be sufficient. The EEA entity can not „import“ data like KYC informations from a UK company, it needs to collect this data on its own.

The situation here where customers report that the post Brexit migration failed is rare. There seems to be one confirmed case, and two more cases that might be similar. Way more common is that people move, from the UK to the US for example. It would be cool if Revolut would allow to keep personal data or things like app settings. But the problem really isn’t about designing a button. It’s more about sorting out all regulatory requirements.