Understanding annual limits


#1

Hi,

I would like to know how exactly annual limits works. Is it possible to use Revolut account number to receive money from e.g. my client directly? He is in UK, so it would be better than to send it to my account and then top-up to Revolut from that account and then submit my invoices + bank statements to be able to increase my annual limit. But without first sending it to my account, I cannot get bank statement (since I have never received this money elsewhere then Revolut).
Or do I have to have a business subscription for this? How much does it costs?


Receiving USD from American Business to Revolut Account
#2

Depends. Are you a sole trader? If so, :r: for Business only supports the corporation legal structure.

Please see the attached post below. Click/tap the rightwards-facing triangle to expand content.


Annual limits tend to cap out at 30 grand or so for users that have had their :r: account for a while.

Any further increase will require provision of documentation.

The yearly top-up limit can be increased via the provision of documentation.

Invoices may be fine, but I’m not too sure about that. Best check with :r:.

If you’re topping up from a different bank account, then bank statements will be required.


:r: offers current accounts (Sort code, account number.) for UK customers. Therefore it is possible to receive money from a client directly, from his/her account to your :r: account, via the current account details.

I’m not sure how verification will work for that (given how it is a direct transfer, and therefore no bank statements, as you mentioned, from the topping up account.).

I personally think provision of an invoice will be fine, but that’s just a guess.

You will have to check with @AndreasK.


Receiving USD from American Business to Revolut Account
#3

Hi, thanks a lot, then I probably understand it correctly.

The only missing piece is IMO what you wrote here:

I’m not sure how verification will work for that (given how it is a direct transfer, and therefore no bank statements, as you mentioned, from the topping up account.).

May I summon @AndreasK then :smiley: ?


#4

This forum deinitely requires this button
ak