Transfer from Uk Bank to US bank via Revolut?


#1

I am new to Revolut. I need to get some money quickly from my UK bank account (LLoyds) to an american friend’s US Bank account. It’s a nightmare trying to do it quickly with our banks, and Paypal will charge large fees.

Is this something I can do for free or cheap with Revolut? If so what is the process…just transfer money to Revolut via Debit card from my Uk bank, then convert to USD in Revolut, then transfer to his account?

Anything I should know before trying this?

Thanks


#2

Hey @lecomputer :slight_smile:

I’d probably stick with PayPal or some other (Azimo, whatever, I don’t really know) if you need to know the fees. It will also probably be faster. However, if you want to use :r: (which is still a good option), there are some things you need to keep in mind :wink:

Your friend wouldn’t be able to withdraw from his :r: account (source), and if you send it directly the fees are quite unpredictable (source)


#3

Thanks, thats good to know. he doesn’t have a revolut account so I was going to just deposit into my revolut account form my Uk bank and then send straight to his US bank.

I’m struggling to find exactly what fees I will be charged to go from my UK paypal to his US paypal! I wish they would make it all very obvious


#4

Since that will be international transfer you will pay fees.
Revolut posted rough guidelines somewhere on forum,just can’t find screenshot …
Think it was around 25$
Might depend on transaction amount.
Hope it helps.:slight_smile:


#5

Hi there.

Revolut does not charge a fee for cross-currency transfers for up to £5,000 / €6,500 / $6,000 / Fr 6,000 / 20,000 zl (or equivalent) per month. A 0.5% fee will apply to any further cross-currency transactions performed during the same calendar month.

You should also watch out for third party fees. If your transfer is sent in Euros and your bank is using SEPA (Single Euro Payments Area), then a transfer from Revolut is free. SEPA comprises of the 28 E.U. member states as well as Switzerland, Norway, Iceland, Liechtenstein, Monaco and San Marino.

If your bank is located outside of the E.U. or is not in Euros, then your transfer will be sent via SWIFT (Society for Worldwide InterBank Financial Telecommunications) and you may incur international wire transfer fees.

With SWIFT transfers, the beneficiary bank could also charge a fee to receive your transfer. When your money is in transit, it may be processed by an intermediary bank who may also deduct a handling fee. Therefore, the amount you receive in your bank may be less than the amount you sent. As banks are not always transparent about their fees, unfortunately, we cannot provide a conclusive amount that you could be charged.

We can provide an estimate of the potential fees for the following currencies:

35 AUD
20 CAD
50 AED
16-32 EUR (outside of SEPA)
7500 JPY
35 NZD
20-40 USD


#6

Thanks for the info!