Top-up and FX conversion limits


#1

Hi, I am purchasing a flat and will need to convert around 250k Euros in GBP.

Wanted to bank transfer the euros into my Revolut account, then convert them into GBP and pay the flat.

Will I hit any limits using a premium account? How can I make this work out?


#2

Hey NL1812

Yes you will most likely hit a limit. There is a yearly top up limit. This is individual for each user and you can see it under your profile.

250k is a lot of money and since Revolut have not yet gotten their Banking license i would use an “ordinary” bank.

If you do wish to use Revolut then make sure to contact support first or wait for @AndreasK to make a comment about the best approach.

Quite interesting dilemma :slight_smile:


#3

You will need to increase your limits before you proceed with the transfer.

Your annual top-up limit is based on your estimated annual income and/or generated wealth. Check below what documents you need to upload depending on your source of funds (please make sure that your name, dates, and all document information are clearly visible):

Salary: If your top-up was generated from your salary, you’ll need to send us copies of your payslips from the previous 3 months or P60/tax receipts.

Savings: In order to increase your limit based on your savings, we need to know how you earned the money that you put aside as saving. Please upload a bank statement showing the current balance of your savings account and relevant documents showing the source of your savings.

Sale of property: If you’ve sold a property and used the proceeds to top up your Revolut account, you’ll need to send us a copy of the sale agreement for the property; a bank statement showing the proceeds of the sale being credited to your bank account, and a statement showing the funds being transferred to your Revolut account (unless the funds are due to be deposited directly into your Revolut account).

Cryptocurrency: In order to increase your limit based on your cryptocurrency funds, we need to know how you earned the money that you invested in cryptocurrency. Please provide us with the relevant documents and statements showing your current cryptocurrency balance and any deposits/trades/withdrawals from the last 3 months.

Loan: If the source of your top-up is a loan - please upload a loan agreement document and a bank statement showing the received funds along with your current balance.

Self-employed income: If you are self-employed, please upload your latest tax return statement or invoices from the last 3 months corresponding to your desired limit.

Inheritance: If you have inherited wealth - please upload the inheritance will and a bank statement showing the received funds along with your current balance.


#4

Thanks @AndreasK and @henrikbjorn very useful information.

How do I upload documentation to increase my limit?


#5

As you are not yet close to your annual top up limit you can only send the documents in the chat.