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Revolut Megathread.

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    #1112
    This is it
    Registered Users Posts: 5,483 ✭✭✭This is it


    maxsmum wrote: »
    Do the banks know that you've linked your account to revolut? I mean do BOI know that I've done it and thus have a revolut account and will want to see a revolut statement if I went for a mortgage for example?

    I had to approve it by logging into my AIB online banking and it referenced Revolut when Iogged in so I presume they do.

    With regards to the mortgage, if the bank, I'd say any bank, see multiple or large transactions (more than a couple of hundred a month) going to revolut they'll ask for the statements.as far as I'm aware. I'd have to ask the names of the banks but two friends have had this requested.


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    #1113
    TripleSSS
    Registered Users Posts: 61 ✭✭TripleSSS


    killbillvol2 wrote: »
    That's a BOI issue so you'll have to check with them. I know in the case of KBC there's a limit of 5k per transfer and a daily limit of 15k (so you can do 5k three times).

    Talked to BOI and they said there is no issue on their side.. And should be fine to use but still having no luck doing another large transfer. Any ideas?


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    #1114
    killbillvol2
    Registered Users Posts: 5,178 ✭✭✭killbillvol2


    TripleSSS wrote: »
    Talked to BOI and they said there is no issue on their side.. And should be fine to use but still having no luck doing another large transfer. Any ideas?

    BOI said they have no limit on transfers?


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    #1115
    Sheep Shagger
    Moderators, Business & Finance Moderators Posts: 6,373 Mod ✭✭✭✭Sheep Shagger


    killbillvol2 wrote: »
    BOI said they have no limit on transfers?

    €20k per business day.

    https://www.bankofireland.com/help-centre/faq/much-can-transfer-365-online/#365_online


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    #1116
    ongarite
    Registered Users Posts: 8,249 ✭✭✭ongarite


    Setup my BOI account a few days using key chain app instructions a few pages back.
    Maybe I'm being picky but I was hoping Revolut would push a notification when pending or completed transaction appeared through your linked account.
    As mentioned already, pending transactions don't appear under your linked account.

    Can't see myself keeping it as it is now.


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    #1117
    [Deleted User]
    Posts: 7,712 ✭✭✭ [Deleted User]


    Zardoz wrote: »
    Agreed ,Revolut cannot be trusted .
    They are constantly locking peoples accounts ,freezing transfers and demanding documentation if you are moving larger amounts of money.
    N26 are much better to deal with ,they are a proper bank with a savings guarantee .

    There’s no convenience with N26 though. Top ups take days, it’s ridiculous

    On the Revolut linked accounts, my balance is ok but it’s pointless as I can’t see transactions past 4 days ago. Not worth linking it.


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    #1118
    Sono
    Registered Users Posts: 2,413 ✭✭✭Sono


    ReginaldSmythV wrote: »
    There’s no convenience with N26 though. Top ups take days, it’s ridiculous

    On the Revolut linked accounts, my balance is ok but it’s pointless as I can’t see transactions past 4 days ago. Not worth linking it.

    Transfer to N26 via Revolut and it’s there in a few hours mon-fri


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    #1119
    [Deleted User]
    Posts: 7,712 ✭✭✭ [Deleted User]


    Sono wrote: »
    Transfer to N26 via Revolut and it’s there in a few hours mon-fri

    I don’t like keeping much of a balance on either so I’d be topping up as I’d be going into a shop. N26 doesn’t work for that situation.

    Edit - I see now you can top up by card but they only let you do a max of €150 and they take 3%. I really need to look into closing it as I don’t like an account sitting there that I don’t use.


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    #1120
    maxsmum
    Registered Users Posts: 521 ✭✭✭maxsmum


    This is it wrote: »

    With regards to the mortgage, if the bank, I'd say any bank, see multiple or large transactions (more than a couple of hundred a month) going to revolut they'll ask for the statements.as far as I'm aware. I'd have to ask the names of the banks but two friends have had this requested.

    Yeah I have always kept the two accounts fully separate. No transactions going from one to the other. I'd really like the fingerprint feature on BOI app I must say. Such a pain to log in.


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    #1121
    [Deleted User]
    Posts: 7,712 ✭✭✭ [Deleted User]


    maxsmum wrote: »
    Yeah I have always kept the two accounts fully separate. No transactions going from one to the other. I'd really like the fingerprint feature on BOI app I must say. Such a pain to log in.

    I think BoI might be going to buy a computer and see what all the fuss is about this ‘internet’ thing is in the next 5-10 years.

    Fingers crossed for mobile payments and biometric logins by 2040.


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    #1122
    mugsymugsy
    Registered Users Posts: 1,569 ✭✭✭mugsymugsy


    Love revolut in terms of buying stuff on the internet, using it when abroad, sending money to friends and UK bank transfers but as others have said definitely wouldn't be using it as my primary account.

    That probably sounds contradictory but the support part and issues others have mentioned make me wary to have more than a couple of hundred euro in at a time.


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    #1123
    Marcusm
    Registered Users Posts: 10,320 ✭✭✭✭Marcusm


    maxsmum wrote: »
    Yeah I have always kept the two accounts fully separate. No transactions going from one to the other. I'd really like the fingerprint feature on BOI app I must say. Such a pain to log in.

    You’ll be asked to provide statements from all baking facilities, loaned, cards, Revolut accounts etc in any event whether linked or not.


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    #1124
    timetogo1
    Registered Users Posts: 862 ✭✭✭timetogo1


    I was transferring €500 yesterday to a bank account. It failed and didn't say why. I connected to support and after asking for a live agent it said my wait was 6 minutes. After an hour of checking every so often I gave up. Last night I got a pop up asking me to rate my chat.

    This is why I mainly use revolut for smaller transactions 99% of the time. If theres an issue you seem to be on your own.

    I'll use the €500 for my normal bills and then go back to topping up just before my transactions are required.


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    #1125
    [Deleted User]
    Posts: 24,714 ✭ [Deleted User]


    Marcusm wrote: »
    You’ll be asked to provide statements from all baking facilities, loaned, cards, Revolut accounts etc in any event whether linked or not.

    Being asked doesn’t mean you have to give. It was never specifically asked for “all” my accounts either.

    I got approval previously (but didn’t follow through) and purposely didn’t give all my accounts and as I’d no transactions to/from them in the accounts I gave they never knew.

    As far as Revolut is concerned I will definitely have to give statements when going for approval again as it’s my main account and all that’s on my current account now for quite some time is Revolut transfers even have most of my direct debits coming out of Revolut now (though i don’t have many DD at the moment).


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    #1126
    maxsmum
    Registered Users Posts: 521 ✭✭✭maxsmum


    Marcusm wrote: »
    You’ll be asked to provide statements from all baking facilities, loaned, cards, Revolut accounts etc in any event whether linked or not.

    Yeah I know that, I have a mortgage already, hence why I want to know if it's linked in advance. I use Revolut for stuff I don't want to mortgage people to see! Amazon, ASOS in GBP, lottery.ie, all the fun stuff.


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    #1127
    [Deleted User]
    Posts: 7,712 ✭✭✭ [Deleted User]


    Is shopping on Amazon or buying clothes still a big issue for mortgage providers? That’s absolutely insane.

    Would they not see you topping up the Revolut from your bank account constantly though anyway, or have you some arrangement with work where they split wages between the two?


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    #1128
    maxsmum
    Registered Users Posts: 521 ✭✭✭maxsmum


    ReginaldSmythV wrote: »
    Is shopping on Amazon or buying clothes still a big issue for mortgage providers? That’s absolutely insane.

    Would they not see you topping up the Revolut from your bank account constantly though anyway, or have you some arrangement with work where they split wages between the two?

    No, my Revolut is totally separate from BOI account. BOI would have no idea I have a Revolut account from my statements. hence me asking if I bother to link the BOI to the Revolut app will they know about it in the future. I would only be doing it for the sheer ease of the fingerprint access. I have had bad experiences with mortgage approval before on nonsense stuff (nothing to do with repayment capacity) and I don't think I could go through that again!


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    #1129
    [Deleted User]
    Posts: 7,712 ✭✭✭ [Deleted User]


    maxsmum wrote: »
    No, my Revolut is totally separate from BOI account. BOI would have no idea I have a Revolut account from my statements. hence me asking if I bother to link the BOI to the Revolut app will they know about it in the future. I would only be doing it for the sheer ease of the fingerprint access. I have had bad experiences with mortgage approval before on nonsense stuff (nothing to do with repayment capacity) and I don't think I could go through that again!

    How do you put money on the Revolut then?


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    #1130
    TheChizler
    Registered Users Posts: 9,455 ✭✭✭TheChizler


    ReginaldSmythV wrote: »
    Is shopping on Amazon or buying clothes still a big issue for mortgage providers? That’s absolutely insane.
    Definitely not. I was told by 3 different banks and an independent advisor before we went for approval that even gambling was fine once it was occasional.


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    #1131
    Dodge
    Registered Users Posts: 10,287 ✭✭✭✭Dodge


    ReginaldSmythV wrote: »
    Is shopping on Amazon or buying clothes still a big issue for mortgage providers? That’s absolutely insane.

    It’s not an issue. The alarm bells only go off if there’s large unexplained amounts in or out, regular unexplained in or out or gambling outgoings (over a certain level)

    They don’t care if you shop on asos, Amazon, Tesco or Lidl


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    #1132
    maxsmum
    Registered Users Posts: 521 ✭✭✭maxsmum


    Well, this is taking the thread off topic. I had issues before with the discretionary spending in a mortgage application, I am look at 'stress tests' for banks applying limits on discretionary spending, I just want to know if BOI will have some record of me having a Revolut account if I add my BOI to my Revolut via open banking.


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    #1133
    TheChizler
    Registered Users Posts: 9,455 ✭✭✭TheChizler


    maxsmum wrote: »
    Well, this is taking the thread off topic. I had issues before with the discretionary spending in a mortgage application, I am look at 'stress tests' for banks applying limits on discretionary spending, I just want to know if BOI will have some record of me having a Revolut account if I add my BOI to my Revolut via open banking.
    It's the amount of discretionary spending that's an issue, basically are you spending too much to afford repayments, not where you're spending it or how. You can't hide discretionary spending unless you're paid cash in hand, in which case you're not getting a mortgage anyway.


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    #1134
    [Deleted User]
    Posts: 7,712 ✭✭✭ [Deleted User]


    Mr.S wrote: »
    A bit OTT with hiding Amazon and Asos, not needed unless you are going mad spending 90% of your income. But worth it for the currency saving ;)

    Out of interest - how do you top up your Revolut if it's not connected to any of your current / credit accounts?

    That’s what I’m wondering too. Won’t the bank just go “why have you transferred 800 quid onto this Revolut account in the last 3 weeks” and wonder what any of it was for?


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    #1135
    Fann Linn
    Registered Users Posts: 7,787 ✭✭✭Fann Linn


    ReginaldSmythV wrote: »
    That’s what I’m wondering too. Won’t the bank just go “why have you transferred 800 quid onto this Revolut account in the last 3 weeks” and wonder what any of it was for?


    Exactly. To top up Revolut it has to funnel through some sort of bank card.


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    #1136
    maxsmum
    Registered Users Posts: 521 ✭✭✭maxsmum


    Mr.S wrote: »
    There was a guy on here before who used to withdraw cash, to buy prepaid debit cards, and then topup his Revolut that way, to avoid the Revolut lines on statements.

    Seems excessive.

    That is excessive. I am not doing that! Anyway, it seems nobody knows the answer to my question. I will hold off on the open banking for now.


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    #1137
    homingbird
    Registered Users Posts: 1,279 ✭✭✭homingbird


    I use revolut card to pay for my nct it says on the nct site it will take 22 euro from your card for a late or no show at the center how can the take from A empty card.


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    #1138
    g6fdyotp5nj2l7
    Closed Accounts Posts: 436 ✭✭g6fdyotp5nj2l7


    But if you top up your revolut card they will know about it anyhow even if you don't link it. For me I don't see any advantage to linking my accounts to revolut.


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    #1139
    Calahonda52
    Registered Users Posts: 12,410 ✭✭✭✭Calahonda52


    homingbird wrote: »
    I use revolut card to pay for my nct it says on the nct site it will take 22 euro from your card for a late or no show at the center how can the take from A empty card.
    .
    It will still be there when you go to NCT again.

    Could impact your credit rating if they were so minded

    “I can’t pay my staff or mortgage with instagram likes”.



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    #1140
    maxsmum
    Registered Users Posts: 521 ✭✭✭maxsmum


    Mr.S wrote: »
    But how do you do it then? Genuinely interested.

    If you use an intermediary like PayPal, they’ll just ask for PayPal statements.

    Sending to a friend who then transfers to your Revolut?

    I seriously cannot be the only person who has a Revolut card that doesn't link to my bank account. I use it for a foreign IBAN. If I say for what purpose I would probably be identifiable to anyone I know who posts here but it's nothing exciting, illegal or scandalous and it's not the question i am asking here.


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    #1141
    Aquos76
    Moderators, Regional South East Moderators Posts: 9,036 Mod ✭✭✭✭Aquos76


    So people load money into your account so, somewhere along the line that account could come back to you. The fact that you also identified and verified your account with Revolut links your account to you somewhere in some credit database also. Revenue were able to inform me about my N26 account a few years ago despite me using it very little since I opened it.


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