USD local account

Dear,
I’m a new member so my questions could be dumb but I’m looking for your support.
Assumption: I’m Italian and I live in Italy.

  1. Please may you clarify why is it possible to create a local account in EUR and GPB and not in USD? I mean, USD account is available only as “SWIFT”. Why?
    Are you able to estimate a time in which the IBAN local could be available?

  2. How does the USD account work? The beneficiary is Revolut LTD. I assume the following: USD virtual account is addressed to Revolut LTD. Then I can move money from Revolut LTD to my ITALIAN account using a SEPA transfer paying a transaction + change in currency. Is it right?

Thanks for your support
Great stuff by the way.

regards

USD local accounts should be available when service (revolut) will be available in USA.

Sending money to pooled (SWIFT) account looks similar to sending money to any other account, but- you’re right you have to type Revolut as a beneficiary AND to type your reference number.
If you do that money will be automatically assigned to your revolut account.
Please remember that wired SWIFT transfers rather aren’t cheap…

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Revolut has advertised that it has landed in the USA…does that mean that we can transfer money from an EU euro account to a USA $ account now?

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You always could transfer money from your EUR account to any USD account (with an account number and a routing number), you just don’t have a personal account number (yet)

it’s worth mentioning that Starling Bank (UK) now lets you open USD business accounts with local details (same routing code as TransferWise) for £5. Still nothing from Revolut, and their beta is only for companies registered in USA anyway.

hi,

do you think is it possible USD local bank details for europeans client as we have for GBP and EUR

I doubt. They do support other currencies with local details, but only for local residents.

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