All about Revolut

So how does it work? You make a SWIFT transfer in CHF to a EUR account and Revolut converts it to EUR at a good rate, or does it even put it on the CHF subaccount? Anyway, how is that any better than what we had, you still never know how much you gonna pay for a SWIFT.

Other users reported that UBS --> revolut in no more free, even using the BEN command. I just transferred enough for 1-2 months (I buy my groceries in EU…and some Amazon stuff), next time I will try UBS --> IB --> (CHF to EUR in IB) --> Revolut to see if it works. Revolut has a personal euro account with personal IBAN, no need of a reference number.
I will report if it works.

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If you transfer CHF, it will end up directly on your CHF account, without the conversion.

But the accounts are still in the UK, so it’s an international SWIFT, doesn’t change much, apart from the fact that you don’t need a reference number any more, it’s your personal IBAN number - the same for all the supported currencies.

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Revolut just got a banking license.
After, they set it up, will this change something for swiss users?

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« … nothing is going to change right away.»
Swiss IBAN will come soon. Or not. Or one day. Or never. Or it’s just around the corner.

Revolut’s “soon” might mean anything.

BUT I believe that local Swiss IBANs are coming really soon… since yesterday there are Polish IBANs available for some users, so maybe the next country will be Switzerland :slight_smile:

I can confirm that I have a Polish IBAN for my PLN Revolut account. Cool!

I guess all I need to ditch a conventional bank in Switzerland for Revolut is:

  • Swiss IBAN
  • Deposit guarantee
  • Web App

I would miss eBill a bit, though.

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Hey @Bojack

I assume your IBAN is a local Polish one already (without GB in front), right?
Do you, by chance, have your (Revolut) official address in Poland also?

I don’t have a local PLN account with Revolut yet (mine is still only the GB… shared currency account), and I don’t know if it’s because:

  • I have a Swiss-based Revolut account (registered address) and the option is limited to PL-based Revolut accounts,
  • or: there is another reason (I am on iOS, maybe you are on Android).

I have a Polish IBAN, yes. I goes like this:
PL 81 2360 0018 …

I put the IBAN into an IBAN checker, and it gave me this:

BIC: DABAPLPW
Bank: Danske Bank A/S Spółka Akcyjna Oddział w Polsce
ul. Emilii Plater 28
00-688 Warszawa

Yes, I am currently registered at Revolut with my Polish address. As you may remember, there was a time where Swiss residents were blocked from Revolut by the credit card provider, and then I wrote to Revolut support and changed the address from Swiss to Polish, which was enough to unlock it.

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Swiss IBAN is here. I see an account number from Credit Suisse in Zurich so no doubt the transfer will go through as domestic payment at any bank. Wooohooo

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Hell Yeah!

That’s a very good news :slight_smile:
I can ditch my TW and simpilfy my transfers now :slight_smile:

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Thanks for the update about the IBAN :wink:
Now we can transfer money to the account without any fees, perfect.

Confirmed it worked with no fees from my Zak account. Can ditch TW as well.

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Where can you see their account number in the Revolut app?

If you click the (+) next to your CHF balance, then choose “Bank transfer” as a payment means, it will give you all the info including a reference number and Swiss IBAN at Credit Suisse.

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Can confirm CH IBAN is working without fees.

Ironically it was slightly slower than the Transferwise Method since Revolut took longer to confirm the payment XD (This might get better with future transactions).

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Guys what did you choose for the type of the card - Visa, Maestro, MasterCard?
I’d guess Visa and MC have a bit higher prevalence/acceptance around the world, but might be mistaken.

The one that is free. Visa.

So is Maestro :slight_smile:

Really?! I started using Revolut 1 year ago and the only they have free was Visa :smile: