Revolut Megathread.

maxsmum

Aquos76 wrote: »

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.

I have PMed Mr S the grand secret on how I top up my Revolut and it is really not a big deal, thanks all for your concern though! Revolut account did not come up on my last mortgage application, nor did my credit union account nor a student AIB account i also held, so I will take my chances!

flazio

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.

Anybody got auld Mister Brennan's phone number?

Sheep Shagger

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?

The same way they could ask what you did with a €800 cash ATM withdrawal.

For anyone with a mortgage already, unless you are in default they'll never ask about your spending behaviour.

TheChizler

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.

Seems pointless, our advisor totted up all the unexplained cash withdrawals in our accounts and marked them as discretionary. There's no way around it.

It's actually advantageous to be open about all your accounts if there's any quantity of money in them or you use them for essentials, if you can't account for the current whereabouts of any withdrawals or transfers the whole thing is considered gone, spent, and goes against your potential mortgage repayment capability. If you used Revolut for bills for instance but didn't prove it the bank will have to assume it comes from somewhere else and may mark you down accordingly.

Joyce Rhythmic Stepmother

Joyce Rhythmic Stepmother wrote: »

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.

I see it as very advantageous as I can open Revolut with Face ID in seconds but accessing my ebs online banking means opening a browser, navagaite to online banking, enter an ID number, then enter 3 digits, then wait for a notification and open the ebs 2 factor authentication, confirm I’m logging in, go back to the browser and wait for the authentication to go though and then finally see my accounts.

I’d have checked my account in Revolut in the time it would take me to open the browser never mind the rest. unfortunately they don’t support ebs.

The fact I use Revolut for the majority of my banking means I don’t need to log into my irish banks accounts nearly as much but I still like to log in every day or two just to check nothing out of the ordinary has happened.

That’s my main use, and the reason I’ll leave the current account linked. If I want to see my balance on the BoI app it’s the whole typing login and then if you forget to force close the app after it’ll suck the life out of the phone battery. Revolut is just one tap and then Face ID into everything. The transaction history is poor for the account on the Revolut app but the balance seems to be bang on within about 20 minutes.

Zardoz

Aquos76 wrote: »

Revenue were able to inform me about my N26 account a few years ago despite me using it very little since I opened it.

N26 ask you for your PPS number as Tax number so I assume Revenue have access to that.

wandererz

Signed up for N26 last night.
What a crock of sh*t.

3% just to add money via a card.
Why is the recipient bank charging.

I get that it's a bank account, but I have 2 of those already and there's no seeming benefit.
I have about 40 contacts on Revolut but only about 9 on N26. And I don't contact them on a regular basis anyway.

nsa0bupkd3948x

wandererz wrote: »

Signed up for N26 last night.
What a crock of sh*t.

3% just to add money via a card.
Why is the recipient bank charging.

I get that it's a bank account, but I have 2 of those already and there's no seeming benefit.
I have about 40 contacts on Revolut but only about 9 on N26. And I don't contact them on a regular basis anyway.

Does any Irish bank allow you to add money by debit card?

Obviously revolut is but it's a prepaid card and not a bank which has downsides.

I've had both now for years. N26 is my day to day bank and only ever use revolut to send money to mates very occasionally.

N26 for me is far better. Been stung too many times with revolut not working

nsa0bupkd3948x

Mr.S wrote: »

Revolut are starting to issue debit cards versus prepaid. Not a massive difference though!

Interesting - would make me somewhat consider them again. A lot of the countries I go to Prepaid cards are charged $5 or so ATM withdrawal fees with N26 debit card is free massive difference for me.

I'd need to check the reliability though been let down by Revolut on 3 separate occasions of cards not working.

Achilles CoolS Circus

Achilles CoolS Circus wrote: »

Interesting - would make me somewhat consider them again. A lot of the countries I go to Prepaid cards are charged $5 or so ATM withdrawal fees with N26 debit card is free massive difference for me.

I'd need to check the reliability though been let down by Revolut on 3 separate occasions of cards not working.

I use Revolut for pretty much all my banking for the last two years and have never once been let down by it, prior to lockdown that would have been multiple transactions every day on top off all online spending, holiday spending, sending money almost daily between me and my wife, some subscriptions and direct debits etc etc.

This is it

In two years I've only had one issue and it was my own fault, not Revolut. Still not sure I'd use them as a main current account with salary going in. Have seen posts here where they've frozen accounts, etc.

I don’t think I’ve ever had a payment fail unless the machine wasn’t working and couldn’t take cards at all. I do all my spending with the Revolut (via AP).

Marcusm

Zardoz wrote: »

N26 ask you for your PPS number as Tax number so I assume Revenue have access to that.

It’s called the Common Reporting Standard and absolutely they get an electronic file of accounts opened by Irish PPS holders.

Akesh

Marcusm wrote: »

It’s called the Common Reporting Standard and absolutely they get an electronic file of accounts opened by Irish PPS holders.

Do you know if an individual can access what information has been transferred and what accounts Revenue deem to be held by an individual?

Marcusm

Akesh wrote: »

Do you know if an individual can access what information has been transferred and what accounts Revenue deem to be held by an individual?

If you’ve opened a foreign bank using your Irish identity you should assume it has been disclosed to Revenue. You have a separate obligation to notify Revenue of Foreign bank accounts which you have opened.

The common Reporting Standard operates on the basis of automatic exchange of information! Doesn’t mean any action is taken by the home state but you should work on the basis that Revenue is aware.

Chieftain

Hi all,

Just wondering is anyone having trouble linking their AIB account to Revolut. I'm just not getting the notification on my phone and it times out. Have notifications turned on for AIB alright. Its an Apple phone. Have linked my TSB without any hassle.

Thanks

Henry Ford III

I need to make a payment in £. Recipient doesn't use Revolut.

Is there any advantage for me?

TheChizler

Henry Ford III wrote: »

I need to make a payment in £. Recipient doesn't use Revolut.

Is there any advantage for me?

Free conversion to £ at the best possible rate and transfer to their bank account.

Wuff Wuff

Henry Ford III wrote: »

I need to make a payment in £. Recipient doesn't use Revolut.

Is there any advantage for me?

can transfer it direct to their UK account with Revolut and it arrives fairly quickly, youd be saving on what your bank here will charge

im always using it to tranfser from my bank here to my Natwest account

Henry Ford III

Wuff Wuff wrote: »

can transfer it direct to their UK account with Revolut and it arrives fairly quickly, youd be saving on what your bank here will charge

im always using it to tranfser from my bank here to my Natwest account

How quick is the transfer? I'm looking at buying a motorbike privately.

Will be bringing a van so don't want to be hanging around.

Wuff Wuff

Henry Ford III wrote: »

How quick is the transfer? I'm looking at buying a motorbike privately.

Will be bringing a van so don't want to be hanging around.

Longest mine has ever taken is about 3 minutes, and it does be instant on sundays also which is mad compared to here

Henry Ford III

So just load my Revolut card with €, and then transfer to the recipient in STG£?

Good exchange rate and it's instant?

Could it be that simple?

Aquos76

RE linked bank accounts looks like there are issues PTSB, mine hasn’t updated in 4 days now, think it’s time to unlink now.

EndaHonesty

Henry Ford III wrote: »

So just load my Revolut card with €, and then transfer to the recipient in STG£?

Good exchange rate and it's instant?

Could it be that simple?

It is that simple, yes.

You can also put in the recipient's email address so they will get an email confirming the transfer is on the way.

The official email is often enough for people to release goods.

Henry Ford III

EndaHonesty wrote: »

It is that simple, yes.

You can also put in the recipient's email address so they will get an email confirming the transfer is on the way.

The official email is often enough for people to release goods.

Wow that sounds really good.

EndaHonesty

Henry Ford III wrote: »

Wow that sounds really good.

In my experience the bank transfers are not instant, usually overnight for me.

But the official email from Revolut to the recipient, confirming the transfer is on the way, is instant. And that gives the recipient confidence that the money is on the way.

Wuff Wuff

EndaHonesty wrote: »

In my experience the bank transfers are not instant, usually overnight for me.

But the official email from Revolut to the recipient, confirming the transfer is on the way, is instant. And that gives the recipient confidence that the money is on the way.

do you do transfers to UK accounts? ive never had one take more than a few minutes at most?

ones to Irish accounts can take a day or two

EndaHonesty

Wuff Wuff wrote: »

do you do transfers to UK accounts? ive never had one take more than a few minutes at most?

ones to Irish accounts can take a day or two

Most of my transfers are to UK companies.
The feedback from the companies is that the transfers are not instant, but I haven't looked into it too much, so they could be.

Wuff Wuff

EndaHonesty wrote: »

Most of my transfers are to UK companies.
The feedback from the companies is that the transfers are not instant, but I haven't looked into it too much, so they could be.

hmm maybe business acounts are different to process incoming payments,

just sent myself money as a test and by the time i closed Revoult and opened Natwest the funds were there