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?
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.
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.
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).
+1, if we’re not getting a web interface, then the app should make our lives as simple as possible and searching for a BIC is a pain. It’s not even mentioned on bills any longer. I have to search the companie’s website for it.
Why Revolut still asks for BIC ??
Why i need to open web browser, and search for BIC myself (by just entering IBAN) …
is it so hard to automate ? i thought all this App/Internet stuff was created to make life easier …
Just had to transfer via IBAN as well and wondered why Revolut asks for BIC / SWIFT for an EU IBAN. This makes it more difficult compared to classic banks - which is the opposite of what Revolut sets out to do, isn’t it?
Yes please, just get rid of the BIC completely for European transfers. This is not required as pointed out by someone before. I have a bank account at a bank that does not yet have a BIC (YAPEAL in Switzerland) and is just now getting one but the process takes long. And in the end they just get a BIC because so many banks and other software still have not adapted to a 6+ year (IIRC) situation that BIC is not required. And Revolut is part of this problem. Make BIC optional for IBANs that begin with a European country code (dunno if this logic is correct, but something along these lines). I have another bank account at a bank with BIC but I want to use this less and less in the future and Revolut makes this more complicated than it needs to be by being behind some traditional banks that have already adapted to this change.