USD salary into account

1

I will be receiving my first salary from my new employers in 2 weeks, they are a Canadian company, paying in US Dollars.

Can this be paid direct into my USD account, or do I need to get them to pay it into my Euro or Sterling account ?

2

You should definitely give them the USD account, however keep in mind this is a shared account, so they have to specify the reference number, otherwise Revolut cannot assign the funds. Also, this will be a SWIFT transfer, so there might be additional charges.

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3

And take some time… (Probably at least 5 days)

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4

personally I would not risk using shared US Dollar account for receiving salary… most probably you’ll have issues because employer will forget about reference number or some security trigger will came in and you will fight with support to unlock your account. for US dollar salary I would just go to “normal” bank and open personal US dollar account.

5

I know it’s a bit late but anyone reading this read should know the following:

This will be sent by SWIFT and as such the receiving and sending bank may charge fees.

Personally I would transfer my USD salary into a Transferwise Borderless account (that has local USD details) and then transfer this to Revolut.

This might not be an issue soon though as Revolut should be releasing USD details upon launch in the US.

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Yep transferwise borderless account are very useful for these cases. I’ve been having to buy USD but with the volatility of the GBP had to do it in small bits at crucial times when there were peaks (which only lasted a hour or so at time).

So easy to transfer money in and out using them.

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7

Hi I’m new to Revolut and I work in Saudi I get paid in US dollars each month into my uk bank the charges are very high by my bank to convert to sterling. Is Revolut going to be suitable for me and what info do I need to give my employer? can I convert it to sterling in Revolut then transfer to my British bank account? Any advise is much appreciated

8

Hi Susan! Welcome to the community!

Revolut, in my opinion, is great for many things, but to be paid in USD maybe not because Revolut doesn’t provide US local bank details, so you’ll have to pay quite a bit in SWIFT fees by an intermediary bank and end up losing money along the way.

Does your USD salary come from a bank based in the USA?
I’d recommend you to sign up for a Transferwise Borderless account. Transferwise Borderless offers you local US/UK/EUR/AUS bank account details. So you can provide your work with your checking/routing number to be paid to your USD account direcly and decide to either keep it in USD or convert it to GBP using the Mastercard conversion rate. It takes seconds to convert it from one currency to another. You can then choose to transfer the GBP from Transferwise to your traditional British bank and pay little to no fees.
You can also choose to transfer funds from Transferwise GBP account or add your Transferwise card as a top-up card in Revolut. Since Revolut offers SAR whereas Transferwise doesn’t, you’d top-up GBP to your Revolut, open an SAR account, and then convert from GBP to SAR in seconds. Then, you’d just use your Revolut card to pay for things and your SAR account will be debited providing you have enough funds in it.
I think this might be your best option. :smiley:

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I far as I know if he load Transferwise account with USD he can’t send USD do Revolut. He will be force to change it to other currency (EUR) and send Euro. For this change Transwerwise charge 7,5USD for 1000USD send plus exchange rate.

10

There should be no charge if you use the TW card to top up Revolut.
When you add the card the initial daily limits might be a bit low (it was ~250$ for me) but should increase when you keep using the card

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Just for anyone reading this in the future be careful as Transferwise “borderless” USD bank accounts can only receive USD from certain countries (see bottom of link below).

I got a Transferwise account off the back of this thread without reading all the small print (lured in by “borderless” i’d say) and it is useless for my purposes so I am back to revolut.

12

Hello Alessandro, I see that when I look for USD bank account details, it says that it is only for national bank transfers. My employer pays me in dollars and I don’t understand which details I should provide him with, to have dollars in my account. Any help?

13

Hello all,

I am now opening this thread as we are in 2022 and Revolut is available in the US.

I am going to NYC for 6 months and would like to receive my salary in USD that I will spend in the US for 6 months with my Revolut account. Is not possible? Will the salary transfer still be done in SWIFT?

Thank you very much for your help,

Rayan