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Revolut Paying for a car in the UK

  • 27-08-2020 1:28pm
    #1
    Psygnosis
    Registered Users, Registered Users 2 Posts: 1,485 ✭✭✭


    Hi,
    Looking for some help on this
    I more than likely will be purchasing a car in the uk over the next couple of days. Using flippingcars so it gets shipped to Ireland.

    So I have money in my AIB Current account. To get the best rates etc I'd prefer to use revolut

    In my own head this is what I do but looking for some guidance
    Upgrade revolut to premium/platinum.
    Transfer my money from AIB
    Buy UK sterling
    Then when the time comes transfer it over to the uk.

    What are the limits on this can I say transfer 15K from AIB to Revolut buy my sterling and then transfer what I need?


Comments

  • #2
    PaulKK
    Registered Users, Registered Users 2 Posts: 2,279 ✭✭✭PaulKK


    You need to verify source of funds with revolut first or risk your account being locked.

    I used BOI for this from debit card so just topped up from that in one go (25k limit), not sure what AIB is.

    I upgraded to premium for one month to a avoid FX fees.

    Bank transfer to UK account was received by seller within a few minutes.


  • #3
    Psygnosis
    Registered Users, Registered Users 2 Posts: 1,485 ✭✭✭Psygnosis


    I'm still quite confused on this apologies for the questions.

    So I transfer say 20K worth of euros to my revolut card its coming from my Current Account in AIB. How to verify it when I do it will ask me for source of funds or something. ?

    When its in revolut do I then purchase the amount Sterling I need at the days spot rate.

    So just testing it with a small amount of 15 euros. So did add funds added 15 euros it asked then for a picture of my debit card which it took and I added the cv number.

    When it comes to doing it with a larger amount is it any different?


  • #4
    PaulKK
    Registered Users, Registered Users 2 Posts: 2,279 ✭✭✭PaulKK


    Psygnosis wrote: »
    I'm still quite confused on this apologies for the questions.

    So I transfer say 20K worth of euros to my revolut card its coming from my Current Account in AIB. How to verify it when I do it will ask me for source of funds or something. ?

    When its in revolut do I then purchase the amount Sterling I need at the days spot rate.

    So just testing it with a small amount of 15 euros. So did add funds added 15 euros it asked then for a picture of my debit card which it took and I added the cv number.

    When it comes to doing it with a larger amount is it any different?

    It's no difference. Before you top it up with the large amount go into the support chat and ask to verify source of funds. You will most likely need to supply bank statements etc.


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