This will work for Euro bank transfer to Euro credit on Revolut?
Bank online form
Beneficiary = Revolut
Beneficiary Account = GB98…8290 [This is a generic account for all clients?]
Then I put my personal 8 digit reference in the ‘notes’ field?
(There is no need for BIC as it self-generates from IBAN)
Yes as @c0stin mentioned and beneficiary name and address.The reference though is vital.Do not forget otherwise your funds will not be able to be credited to your account.
Did test to send 10€ from NL27INGB to the new LT77 IBAN on friday 21july > did receive in 1 hour.
Did work so I send €160 on saturday 22 july> not in my account yet…I let you know when received
Well, I have been told just yesterday (from someone whom I trust 100%) that a piece of software that is widely used by a large number German financial institutions (as well as outside Germany) doesn’t currently support SEPA transfers to accounts were the country codes of IBAN and BIC don’t match.
(I am not saying that that piece of software is acting correctly in its limitations. It seems to me that this should be classified as bug. But that piece of software apparently sees new releases about once every other century or so, so I wouldn’t hold my breath on them solving the issue.)
BIC is properly registered to LT, but there might be an issue where that software reads GB from the BIC thinking that target country is GB. This is clearly a bad software not up to current standards.
I’m actually not surprised knowing what old software is being used and patched to work in todays modern world. Especially in Germany.
nonsense is the vast majority of banks?Can YOU stop saying that all the others have the issue but for Revolut?Many users cannot use it at all others partially.The incompatibility between IBAN and BIC exists;face it and stop being a lawyer.
I tried now to top up my Revolut from an italian bank account.
It doesn’t work, it tells me that IBAN and BIC code do not match and it’s impossible to proceed the transfer.
Is this a bug? How can I do to process the top up?
Rare moment where it appears that we both seem to agree on something.
Legacy banks will continue to be legacy banks if they fail to invest and modernise. Simply swept away by the wave of mobile-first fintech challenger banks.