Stop asking for BIC/SWIFT for EU IBANs


#1

Hi,

When I want to add the bank details to do a wire transfer within the EU, the app asks for the name, IBAN and BIC.
I understand that the name and IBAN are needed, but why make us spend time looking up the BICs and not do that by yourselves?

Can´t you guys calculate the BICs for us so we dont have to input them ourselves?


#2

Just ask your bank, it’s very simple!


#3

You know what´s simpler? It would be simpler if Revolut did the work for us.

It´s not that I can´t ask my bank for the BIC. Hell, I know my BICs… NTSBDEB1, BUNQNL2A, MONZGB21, REVOGB21, and so on…
The problem is that most companies that I pay only give me their IBANs and they force me to lookup the BICs. This could be automated so we dont have to do the work.


#4

For SEPA we shouldn’t be asked for the BIC of an IBAN, full stop. There is no acceptable excuse to require it.

With effect from 1st February 2016, Article 5(7) of the SEPA Regulation (EU) No 260/2012 comes into force, ensuring that Eurozone banks and Payment Service Providers (PSPs) are able to process Single Euro Payments Area (SEPA) payments using only a customer’s IBAN (International Bank Account Number).
As the UK is not a Eurozone country, the Regulation will not apply to UK PSPs until 31st October 2016.


#5

I hope Revolut is reading this topic…


#6

Aggred. It’s always the same for a bank in a country. It can be automatically calculated. Just that extra bit of convince for the customer


#7

It’s been 3 weeks. Can we get an update, @Revolut?


#8

Unfortunately, revolut is not really paying attention around here.
By the way, basically the same thread as yours was started here on March 20th - so why open up another one?


or the similar bug report of March 8th:

Cheers, raimerik


#10

My bank ING gives me the BIC when I enter the IBAN in the field. I’m using their web interface.


#11

+1 In addition to auto-fill BIC/SWIFT, it would be nice if the name or logo of the bank appeared next to the name of the beneficiary, so it is easier to identify them


#12

Yeah, but if the logos of the banks are going to be added, please do it correctly, Revolut.
Bunq does the same thing (add bank logos to the transfers) but they fuked it up and show the wrong bank logo when doing transfers to Caixabank (Spain).