English Forum Switzerland

English Forum Switzerland (https://www.englishforum.ch/forum.php)
-   Finance/banking/taxation (https://www.englishforum.ch/finance-banking-taxation/)
-   -   Multi Currency Credit Card ["Revolut"] (https://www.englishforum.ch/finance-banking-taxation/240252-multi-currency-credit-card-revolut.html)

dandi 12.12.2019 14:20

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by Castro (Post 3129189)
Revolut recently changed their process for Swiss bank transfers (charging up your Revolut accout).


I've seen this about a month ago when I did my last transfer - the reference indicated in their app already includes all these details, and there is a warning note next to it. I always check the reference in the app before doing a transfer...

Phil_MCR 12.12.2019 14:26

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by Castro (Post 3129189)
Revolut recently changed their process for Swiss bank transfers (charging up your Revolut accout). It used to be enough to just use your unique reference number (in the desc field) when you did a transfer but now if you do that the payment will be auto-rejected and it could take a week for the money to be returned to your bank (UBS in my case).

What you now need to add to the description field of your transfer is:
  • Unique reference
  • The full beneficiary name
  • Country of residence

All on different lines. I found all this out through Revolut customer services :msnsarcastic:, backed up by the Revolut forums. I'm really unimpressed with Revolut on this, Transferwise doesn't have this rule but then it could be how they structured their Swiss Bank accounts.

revolut sent a specific notification to warn on this via the app and also list the new reference in the app when you ask for transfer details. in effect your unique reference number has been made longer ;)

Castro 12.12.2019 14:26

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by dandi (Post 3129216)
I've seen this about a month ago when I did my last transfer - the reference indicated in their app already includes all these details, and there is a warning note next to it. I always check the reference in the app before doing a transfer...

Indeed, but I had a recurring payment set up from UBS so only found out when the money didn't arrive a week later. An email or push notification would have been more useful.

dandi 12.12.2019 14:52

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by Castro (Post 3129220)
An email or push notification would have been more useful.


I think there was a notification - but their "notifications management" is a bit wanting IMHO. At least on my Android when I get a notifications and I must read it in the notification bar, otherwise if I tap on it an open the app it's gone forever.


I agree there still are many things that could be improved...

caodatou 01.01.2020 18:43

Re: Multi Currency Credit Card ["Revolut"]
 
Just an update - as of Dec 18th 2019, there is Swiss IBAN (by Credit Suisse) supported by Revolut, therefore we could direct transfer CHF to Revolut without hassle.

wheatism 01.01.2020 18:56

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by caodatou (Post 3133459)
... there is Swiss IBAN (by Credit Suisse) supported by Revolut....

Where do you see that info? If I look at my CHF account the IBAN is the UK GB88 one and it states only SWIFT transfers are accepted.

It could be dependant on your base currency defined by your "Home address". If you're defined as based in Switzerland maybe your lucky... My base currency is GBP/UK.

But I hope I'm wrong and you are right, although it's only a minor hassle going via Transferwise for freee CHF transfers to Revolut it's a step I'd like to avoid if possible :-)

caodatou 06.01.2020 10:36

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by wheatism (Post 3133462)
Where do you see that info? If I look at my CHF account the IBAN is the UK GB88 one and it states only SWIFT transfers are accepted.

It could be dependant on your base currency defined by your "Home address". If you're defined as based in Switzerland maybe your lucky... My base currency is GBP/UK.

But I hope I'm wrong and you are right, although it's only a minor hassle going via Transferwise for freee CHF transfers to Revolut it's a step I'd like to avoid if possible :-)

Yes my base country is Switzerland. I can see the CHF account showing Swiss IBAN CH37.

Phil_MCR 06.01.2020 11:01

Re: Multi Currency Credit Card ["Revolut"]
 
I remember specifically asking for my base currency to be switched to CHF. I have a Swiss IBAN to make deposits (and have had this for a long time).

wheatism 06.01.2020 16:13

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by caodatou (Post 3134393)
Yes my base country is Switzerland....


Thanks, I "switched" to GBP so I could use the Trading feature but may switch back to CHF again in the future. Thanks for confirming.


All times are GMT +2. The time now is 12:03.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0