Unique GBP Sort Code and Account Numbers.


#21

Hi danrevolut, what is the expected time scale on this? I have filled in the details on the early access link last week?

Thanks

JD


#22

The app has just updated to v3.7 and it now contains details of the sort code and account # associated with my account.

It also says that the monthly ATM limit is £500 ???


#23

Topped up earlier from another bank using faster payments. Worked fine, took about 1 hour 50 min :grinning:


#24

Unique Eur bank accounts are coming soon!


#25

@danrevolut Hi Dan, what i would like to understand is if there will be unique IBAN/sortcode for each of our accounts… In particular, will there be a unique account # for the $$$ dollar portion of the account. For me that would be important when receiving money directly into USD from a US bank wire transfer. If the request is not clear, I can elaborate further… txs


#26

I see there is a unique GBP sort code and account number with a suggestion that salary credits can be paid into this account. I have a couple of questions:

1 - With salary credit, does this contribute to the annual top-up limit?
2 - Can a regular direct debit be set up against this account sort-code and number?
3 - If I change my registered residential address to a non-UK one (i.e. ROI), can I still use this UK account number and sort code?

Thanks


#27

Hi All. We have been working hard to get this released. The guys who registered first have early access and the other members will follow very soon! Please stay tuned. :r: :classical_building:


#28

Hi dd17, please see answers below.

1 - With salary credit, does this contribute to the annual top-up limit?

Yes, that is correct.

2 - Can a regular direct debit be set up against this account sort-code and number?

We do not support direct debit out, however you can pay standing order in.

3 - If I change my registered residential address to a non-UK one (i.e. ROI), can I still use this UK account number and sort code?

Yes, you can use this account as long as you have legal residence in one of our regulated countries, at the moment this is the European Economic Area (EEA).


#29

Hi Andreagv

We don’t support unique IBAN yet. However, we are working on this.

Thanks,
Dan


#30

Thanks for the positive feedback!! :classical_building: :r:


#31

Hi Johnny

If we haven’t already migrated you it will be in the next couple of days. Apologies for the delay.

Thanks,
Dan


#32

@danrevolut i’ve seen some accounts with this enabled, but it’s not showing for my account yet.
i did register to have this


#33

Its Happened Dan…Excellent

Many Thanks …Can I just check , are these individual account numbers, and not a global account with reference ID?

JD


#34

Hi Dan,

Many thanks for the reply.

I think my only feedback here is to be a bit careful in the app about the wording used to describe account numbers:

Firstly, suggesting it could be used as a ‘main’ account - If someone were to pay their main salary in, and they then inadvertently hit their top-up limit, presumably their account would be blocked until correct documentation evidencing source of funds could be provided to Revolut? - That could be a big problem with a user’s salary payment being effectively ‘on hold’, and Revolut might be creating a rod for their own back here

Secondly, using the term ‘bill payments’ to most people would read as direct debits - after all, nearly everyone pays bills from their account by at least one DD, but not so many would be manually sending payments across each month via FP? - You might well end up with users attempting to move their account across, and then finding out about this hurdle later.

It appears more to me, that rather than this being a real account as such, sort codes and numbers are just basically another top-up method at the moment.

That said, this is a great advancement and definitely on the right track.

I think for someone like myself who works cross-borders and has income / expenses in more than one currency - fully-fledged account numbers in multiple currencies, seamlessly accessed and exchanged from inside one app with no or low fees would be an excellent and unique product.
One I’m not sure is available from anyone else at the moment.

I guess this is the direction Revolut is heading in though…

David


#35

@danrevolut I’ve signed up for this since a while now, but haven’t received anything.


#36

When will this become available to non-UK users?
(what is the difference with UK-users)


#37

Hi @SiertW_NL, one difference is that UK is not part of SEPA. Customers residing in SEPA-countries need IBAN account numbers. Within the UK, the “old” duo of account no. and sort code is still most common. But Revolut already confirmed that they are working on offering IBANs for all customers.


#38

Hi @Frank, No: with Revolut I don´t need IBAN account numbers to
transfer GBP (or USA dollars). I also can use the “old” duo of account
no. and sort code for the UK. So what´s the real difference between
non-UK users and UK-users via Revolut? I still don´t understand …


#39

Hi @SiertW_NL, I guess it is just a regulation / status of residency issue. Since Revolut does not have a bank license, they need partners to allocate account numbers to their customers. It might be a restriction by their partner bank, probably a UK bank who won’t open accounts for non UK residents. But I believe they are working on a solution for all customers. I’ve read somewhere that UK accounts are just the first step towards unique account numbers for all customers.


#40

Hi @Frank , I don´t think so: Revolut LTD use an account 63540073 with
sort code 20-36-47 for GB pound! And IBAN GB73 BARC 2036 4759 2458 33
with BIC/SWIFT BARCGB22 for euro´s! And GB06 LOYD 3080 1211 8564 72 with
BIC/SWIFT LOYDGB21F09 for USD dollars! /See in your App …/ So what´s
the real difference between non-UK users and UK-users via Revolut? I
still don´t understand …