@SiertW_NL, these accounts aren’t customer’s accounts. Account holder is Revolut, and one has to use the reference code to identify transfers. All customers use these same accounts for top up transfers. These are not unique account numbers per customer. This makes things complicated: customers can’t send money from accounts that aren’t in their own name, from relatives, for example. What you actually do right now is sending money to an account owned by Revolut, they identify the transfer via the reference and allocate it to your card.
@Frank , I know this all already (except that I don´t use a card). But
you don´t explain what´s the difference between no-UK users and
UK-users. That´s all I want to know from Revolut …
@SiertW_NL, well, I believe it is right now restricted to UK users because their partner bank would not open accounts for non-UK residents. This is common for most UK banks. To use Revolut, one does not have to have a UK account. But to get a dedicated account number, a dedicated account is necessary.
WoW !!! We all have now unique UK accounts !!!
Thanks Revolut, you’re great! Now also IBAN. But first “direct debit”
Getting goosebumps as I got the news… Been a strong supporter of Revolut all these while…
You might have to belay the goosebumps. My v3.7.1 app is still showing Revolut as the beneficiary, not my own name. Support explains that my [current] account hasn’t been created yet. It will take another couple days. I guess that means there’s some number of other users who will have to wait too. Nice feature though. Will be happy to see Euro IBAN and USD accounts as mentioned by Revolut on tumbler.
Thanks for taking the time to communicate this.
To challenge the issues you highlighted, please see the points below.
1.Hitting top-up limit. Users that receive regular salary payments will be reminded to provide source of funds before hitting their limits. In the scenario that a user hits their top up limit, our compliance team are able to increase limits quickly providing all requested information can be provided.
2.Ideally we would like to support direct debits, however it is not possible yet. I appreciate the common perception here, however after a little research it is quickly cleared up. More and more service providers are accepting reoccurring card payments as well as direct debit.
We are working really hard to support unique accounts in other currencies. Personally I agree with you, it’s a really exciting direction.
Hi Bsalita, that is correct. We are doing a progressive roll out. You and any other guys who are still waiting will have access soon. I hope the wait isn’t too bad.
@danrevolut you need to start using @ nick or folks wont get a notification…
mine showed up after i accepted the new TOS
At least there’s light at the end of tunnel wrt getting sort code and bank
Even some companies who holds digital banking licence haven’t have any sort
code and bank account for their customer yet…
been following and experimenting with different payment apps/e-banking
apps… I must say, Revolut has lots of potential and is better than all
Really happy to see this. Quick question for @danrevolut
What processing time are you expecting for payments in? i.e. If a traditional bank user sends a payment (such as salary), how long will it take to appear in one’s Revolut account? If I am usually paid on the last of the month, will the money be in my Revolut account at the end of the month?
The FAQ still states:
You can deposit money to your Revolut account only from a bank account registered in your name. Transfers from third parties, including but not limited to companies, friends & family, will be returned to the sender’s account after deducting processing fees of £5.
Not sure how this fits into the whole story. Probably should be revised?
No! You now have an unique number and sort account on YOUR name with Revolut.
What feature is that tracking you mentioned?
I see for the UK bank account we need to sign up to new T&C’s.
How do they differ from the original T&C’s? What’s changed?
I would also like this point clarified.