I am really puzzled about this issue, because it gives away a key advantage of moving funds immediately (in contrast of having to make it a bank transfer, which is nowhere near an instant payment).
So it is possible to send money from a business to a personal Revolut account internally, but not the other way around, although one would expect that payment paths are always bidirectional. A Revolut support chat has already confirmed that it requires a bank transfer to make a payment from a personal to a business account, though no further explanation was given.
So why is it not possible to make an internal transfer from a personal to a business account?
revolut users should have very easy access to paying to revolut businesses. but no, we get expense management of useless prepaid cards and fees increased over 4x instead.
Yes, but that’s no explanation and has nothing to do with the shown issue.
I don’t know (yet) how an internal transfer from a business to a personal account is done exactly and how it shows up on the transaction statement, but as said, it is possible to send funds internally in that direction, but not the other way around, so that’s what makes no sense, because if there is a payment path between the two products, it should be bidirectional.
Well, how do you do to send money from a business to a personal Revolut account?
Whenever I add a new counterparty > individual > personal data then it asks for IBAN. There is no other option
Thanks a lot. It works.
I’ve tried this method before but entered the local Revolut IBAN for the local currency and then I’ve received “invalid data”. When enter the GB IBAN then it works.
What are the main differences between personal and business account regarding money transfers and fees?
I’m a real estate investor and my source of Income includes rent payments and occasionally money from selling a property (can a be over 80K£ in one transaction). which account is more suitable for me, personal account or freelance account ?
Regarding the differences between the two types of accounts, we suggest using the business accounts for business-related operations. If you’re planning on receiving payments for a service you offer, the business account will be the best suited for this.
Transfer allowance limits and fees also depend on what kind of business plan you have. You can check all about our business plan’s on our website here: https://www.revolut.com/our-plans
Also, in case you have any questions about business accounts that you can’t find the answer on the website for, you can contact our agents through the business support chat.
You can do so by clicking on the chat bubble on the bottom right-hand corner of the website: https://business.revolut.com/signin
I have asked for this feature a thousand times. Easy way of transfer personal -> business. Like already happens in personal -> personal and business->personal.
Why is it so hard to send the counterpartyid from the rev personal user along with the rest of the info in the webhook ? Also the dev and new features pace are extremelly slow. Answers here and in the support are “robot like”. Disappointed to say the least.
We’re sorry to hear you’re not happy with our service, we treat feedback with the utmost care and we’ll take your opinion in consideration in order to improve the mentioned areas.
At the moment, in order to make a transfer from a personal to a business account, you’ll need to insert the necessary details (IBAN and BIC. Account number and Sort code for local GBP transfers), but the transfer will be processed as fast as an internal transfer from Revolut to Revolut.
Revolut is still growing, and we’re implementing new features and improvements regularly to improve the experience with our service, so hopefully, your next experience with our product will be more pleasant.
It should be very easy sending from Personal to Business account money. With no IBANs and other stuff just enter the money tag (like personal to personal transfers) And like paypal is able to do this no matter if you have personal or a business account you can send money only with the email adress. I am waiting for this its 2021 and it is still not available
Do we have any updates on this? I would like to top up my revolut business account with money from my revolut personal account, but can’t find a way. I know the other way around works…