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  #541  
Old 11.12.2018, 23:07
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Re: Multi Currency Credit Card ["Revolut"]

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Looks like the CHF IBANs are finally here...

Just got an email about it earlier... the IBAN starts with GB and ends with the same account reference I previously used to ensure the money reaches my Revolut account.

The IBAN is actually the same for CHF and a bunch of other currencies so it looks like a clever way Revolut is routing this money to the right pot without doing any conversions which actually makes sense as it would be a nightmare to have 20 different IBANs for all the different currencies.

Remains to be seen if the GB IBAN causes any issues, but that should be no different to what they used before for their omnibus / pooled account IBAN which also began with GB.

They got there in then end!
It seems so, all of my currency now has one single IBAN and BIC. Revolut already made some changes. A month ago, when I openned the account, each currency has its own IBAN, BIC code ..
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  #542  
Old 12.12.2018, 09:23
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Re: Multi Currency Credit Card ["Revolut"]

What is best way to transfer Chf from Switzerland (bank account or credit card) to a Chf Revolut account.


My canotnal bank changed me Chf 6.-- for a transfer and then an intermediate bank stole a further Chf 25 !!!
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  #543  
Old 12.12.2018, 11:08
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Re: Multi Currency Credit Card ["Revolut"]

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What is best way to transfer Chf from Switzerland (bank account or credit card) to a Chf Revolut account

Personally I have a convoluted but free way to do this...if you don't mind a bit of hassle.


Need:

  • Swiss Bank Account (source of funds) e.g. for me it's PostFinance
  • TransferWise Borderless Account (free to set up). You can have any currency, so I just have CHF as my Borderless currency (with € and £ for extras). With the borderless account you also get a debit card...this is important
  • Revolut CHF
Steps:
1. Make a PostFinance CHF to TransferWise Borderless CHF transfer...this is free. Make sure it is CHF to CHF!!! It is free and generally takes 1-2 days
2. Use your TransferWise Debit Card to top up for Revolut CHF balance. This is free!!! There is a limit of CHF2000 per day. This transfer usually takes 1 day


Works for me and if free....
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  #544  
Old 12.12.2018, 11:31
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Re: Multi Currency Credit Card ["Revolut"]

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Personally I have a convoluted but free way to do this...if you don't mind a bit of hassle.


Need:

  • Swiss Bank Account (source of funds) e.g. for me it's PostFinance
  • TransferWise Borderless Account (free to set up). You can have any currency, so I just have CHF as my Borderless currency (with € and £ for extras). With the borderless account you also get a debit card...this is important
  • Revolut CHF
Steps:
1. Make a PostFinance CHF to TransferWise Borderless CHF transfer...this is free. Make sure it is CHF to CHF!!! It is free and generally takes 1-2 days
2. Use your TransferWise Debit Card to top up for Revolut CHF balance. This is free!!! There is a limit of CHF2000 per day. This transfer usually takes 1 day


Works for me and if free....
I use exactly the same method. However the debit card payment from TransferWise is immediate as it is treated as an e-commerce purchase? Also you can change account limits from within the application, to a maximum 10K GBP iirc.
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  #545  
Old 13.12.2018, 07:53
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Re: Multi Currency Credit Card ["Revolut"]

Now also a banking license!

https://www.cnbc.com/2018/12/13/revo...g-license.html
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  #546  
Old 13.12.2018, 09:50
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Re: Multi Currency Credit Card ["Revolut"]

Too many red flags came up after reading above article..

- Not officially a UK or European bank yet
- Deposits not insured
- With a UK IBAN we may see issues after Brexit
- Net Income 2017 ==> -14.8 M GBP
- Gross profit 2017 ==> -6.6 M GBP

So their basically a Start-up, not for me or my money...

Last edited by ZoeTheCat; 13.12.2018 at 11:00. Reason: changed "there" to "their"...
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  #547  
Old 13.12.2018, 13:32
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Re: Multi Currency Credit Card ["Revolut"]

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Too many red flags came up after reading above article..

- Not officially a UK or European bank yet
- Deposits not insured
- With a UK IBAN we may see issues after Brexit
- Net Income 2017 ==> -14.8 M GBP
- Gross profit 2017 ==> -6.6 M GBP

So their basically a Start-up, not for me or my money...
Where have you been? That Revolut being startup is news to you.
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  #548  
Old 13.12.2018, 14:07
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Re: Multi Currency Credit Card ["Revolut"]

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Where have you been? That Revolut being startup is news to you.

Maybe this is the first time time I`ve read this thread....


Maybe I don`t want to read 28 pages of posts...


Maybe, due to the above, some people don`t know its a startup...
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  #549  
Old 13.12.2018, 14:11
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Re: Multi Currency Credit Card ["Revolut"]

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Maybe this is the first time time I`ve read this thread....


Maybe I don`t want to read 28 pages of posts...


Maybe, due to the above, some people don`t know its a startup...

Think this whole thread is full of people who know it is a start-up or not yet fully fledged bank etc. Good to hear of your feedback though. Although, it does send off weird vibes if you say I don't want to read 28 pages to understand the discussion but I still want to say something anyway.



PS: I know you edited there to their but what you wanted was they're (they are).
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  #550  
Old 13.12.2018, 14:19
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Re: Multi Currency Credit Card ["Revolut"]

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Think this whole thread is full of people who know it is a start-up or not yet fully fledged bank etc. Good to hear of your feedback though. Although, it does send off weird vibes if you say I don't want to read 28 pages to understand the discussion but I still want to say something anyway.


PS: I know you edited there to their but what you wanted was they're (they are).

Sorry if you get weird vibes from my post but the first post of this thread is from 09/2015... a bit far off...


and yes you`re correct about "there, their and they`re".. was just too lazy to edit again...

Last edited by ZoeTheCat; 13.12.2018 at 15:31. Reason: changed "to" to "too"...
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  #551  
Old 13.12.2018, 15:28
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Re: Multi Currency Credit Card ["Revolut"]

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was just to lazy to edit again...
And now you need another edit.
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  #552  
Old 13.12.2018, 15:33
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Re: Multi Currency Credit Card ["Revolut"]

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And now you need another edit.

Fixed!!!


Thanks....
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  #553  
Old 13.12.2018, 19:40
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Re: Multi Currency Credit Card ["Revolut"]

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Too many red flags came up after reading above article..

- Not officially a UK or European bank yet
- Deposits not insured
- With a UK IBAN we may see issues after Brexit
- Net Income 2017 ==> -14.8 M GBP
- Gross profit 2017 ==> -6.6 M GBP

So their basically a Start-up, not for me or my money...
I’ll be interested to find out what you think after a few more months

Do you know what the value proposition of Revolut is to justify the risks you mention above?

Let us know when you’re ready to make your first transfer to your Revolut account or if you want a free Revolut card
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  #554  
Old 14.12.2018, 09:13
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Re: Multi Currency Credit Card ["Revolut"]

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I’ll be interested to find out what you think after a few more months

==> So would I but a few more months are not going to change much... a few more years maybe.. But lets see what happens after March 29 2019...

Do you know what the value proposition of Revolut is to justify the risks you mention above?

==> Its documented all over their web site.

Let us know when you’re ready to make your first transfer to your Revolut account or if you want a free Revolut card

==> Thanks but no thanks... I`m not saying its not a good idea, i`m saying that today it is too risky for me... Everyone can do their own Risk Assessment and decide for themselves...
.
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  #555  
Old 01.01.2019, 14:25
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Re: Multi Currency Credit Card ["Revolut"]

So finally, new year has come and Revolut already has the Swiss IBAN. What a good news, from now on you just need this card, and no need anyother cards like transferwise, currency fair ..
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  #556  
Old 01.01.2019, 14:30
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Re: Multi Currency Credit Card ["Revolut"]

Is is possible to make bill payments such as rent and tax payments with this card?
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  #557  
Old 01.01.2019, 14:35
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Re: Multi Currency Credit Card ["Revolut"]

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Is is possible to make bill payments such as rent and tax payments with this card?
No idea, but check if it has that field to enter that very long reference number.
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  #558  
Old 01.01.2019, 18:16
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Re: Multi Currency Credit Card ["Revolut"]

Unfortunately it's not an individual IBAN per customer.
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  #559  
Old 02.01.2019, 20:58
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Re: Multi Currency Credit Card ["Revolut"]

Same as the Swiss IBAN is used for TransferWise. This move of Revolut is to eliminate the need of TransferWise as a middle step.
Each person will have his own reference number, not perfect but much better than anyother existing solutions.

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Unfortunately it's not an individual IBAN per customer.
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  #560  
Old 03.01.2019, 00:15
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Re: Multi Currency Credit Card ["Revolut"]

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Same as the Swiss IBAN is used for TransferWise. This move of Revolut is to eliminate the need of TransferWise as a middle step. ....not perfect but much better than anyother existing solutions.

Agreed. This now replaces the hassle I had and now it's a "one stop shop" and a big leap forward in simplifying things. Personal IBANs may come one day but happy enough for now with this
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