The beneficiary bank is not allowed

Ideas & Feedback Feedback
1

Hi,
I wanted to transfer some finances and when trying to add the destination account in the app, I get “The beneficiary bank is not allowed”. The bank in question is “AS LHV Pank” in Estonia, SWIFT “LHVBEE22”.

I was quite surprised to see this message, as I was expecting this to be just another SEPA transfer. Can you give any more info about why is this happening, why is this bank “not allowed”?

Thanks,
Stepan

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2

Hi, was a solution found for this error? I am currently experiencing the same problem

3

Hi, I also have the same error message saying “The beneficiary bank is not allowed”

A solution to this would be much appreciated. Thanks

4

I’m getting this same error, when I try to add a german bank account to a company.
What can I do?

5

I’m also getting the same error. The beneficiary account is with Fidor Bank in Germany.

6

Any chance of a response to this issue? I’m trying to send to a Fidor bank account and get the Not Allowed message. Access to Euro SEPA payments is one of my main reasons for using Revolute. Is this a bug that can be fixed or do I need to look for an alternative to Revolute? A response either way would be appreciated.

7

Yes, I’m having the same issue. Still no answer from @RevolutStaff with more details?

1 Like
8

Same problem as well.

9

I mentioned this issue in my trustpilot review and followed up with an email linking to this discussion. As Revolut have decided not to respond to the issue here, or via the email I sent, I will share with you what I know. This is based on a discussion that I had with the in app customer support prior to writing the review.

Transactions to Kraken are currently disabled due to it being considered high risk by some of Revolut’s vendors. I don’t know what’s risky about transferring Euros within Europe but unfortunately I don’t have any more details. I think the response to my review must be inaccurate, as it is a pure Euro transaction, not a Bitcoin transaction. The person I spoke to sent me a snippet from the CEO saying that these transactions would be supported in the near future. I asked whether that time would be measured in weeks or months and was told it would be weeks. This all happened on the same day as the review (end of June 2017).

I don’t know anything about transactions that are not going to Kraken. It seems like Revolut can and are blocking transactions to certain accounts but the response to my review denied that.

10

Edited to say that I just tried my transfer again and it worked - thinking my account might have just been too new as I’d only just opened it this morning!

11

@MrMan were you transferring money to Kraken or a different account?

12

I was attempting to transfer funds to Kraken. Unfortunately I’ve now seen a page on the Kraken site saying that they do not accept funds from third party payment processors including Revolut, which is interesting / annoying. Suppose I’ll have to find another cryptocurrency exchange, but god only knows where the funds from that transfer have ended up.

13

Should revert. Kraken or Kraken’s bank however, may have taken a return fee.

14

Same problem here… Trying to transfer to Coinbase and I have this message. Did anyone receive a formal response from Revolut?

15

I’ve literally just had this problem with a new account and have resolved it. I hope this works for you.

Ensure you’ve activated your new Euro account.

More > Profile > Account Details > Euro and click activate

My previously failed transaction saying “Beneficiary not allowed” went through fine.

13 Likes
16

Nice one RobJ73. Found your advice while teetering at the rim of a deep pit of frustration.

I think it’s fair to say the UX still needs some work.

This is a whole string of non-obvious actions we’re needing to execute, while the app merrily leads us down what we believe to be the correct path.

At the point where I’m selecting a beneficiary I should be seeing a message alerting me to this extra step. Barring a more logically arranged sequence of events from the outset.

The problem with a (monumentally unhelpful) failure notice at the very end of the process is that you’re more likely to believe the issue is out of your hands…i.e, recipient bank problems or being given an incorrect IBAN.

1 Like
17

Thanks, this solved my issue!

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19

Awesome!! 5 stars for this

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20

Hi RobJ73,

Thank you so much for posting the solution. It worked for me.

Regards

Moses

21

RobJ7322d
I’ve literally just had this problem with a new account and have resolved it. I hope this works for you.

Ensure you’ve activated your new Euro account.

More > Profile > Account Details > Euro and click activate

My previously failed transaction saying “Beneficiary not allowed” went through fine.

4 Likes