Revolut - EU IBAN?

Hi,

I have a Revolut account which gives me a GBP IBAN. I can't remember whether I selected this or it selected itself.
This is grand for transferring GBP from UK account into Revolut as a UK local transfer, i.e. free.

Now I want to add Euro to the Revolut account but it appears it will be converted to GBP and then added as GBP.

Is there a way to get a Euro IBAN as well as the GBP IBAN to allow for uploading both currencies without conversion or bankcharge?

Bin

Absolutely not a Revolut expert but does this help?

https://community.revolut.com/t/sterling-and-euro-account/50216

The GB IBAN accepts Euro

Not sure this helps, but....
I change GBP into Euros and have both in my Revolut account, I buy as I need and i can see both balances. Then I can select which bit to send money from. (I send sometimes to my brother in the EU to his lovcal account, used to be free but soon will have a nominal fee of £0.99 up to £499)
I think you can even hold more currencies, like dollars too.
Then you can exchange as you want, at their rates, back and forth.

Each fiat currency in Revolut has its own IBAN or Swift numbers - go into the drop down - choose details and its there

I worked in Asia for the last few years and upgraded to metal to get the cash back - paid in USD and used everything but travelling around...

great system, didn’t know there’s were charges coming!!

To be clear, what I want is a EURO IBAN so I can transfer EUR from my local bank to my Revolut as SEPA transfer.
All I can find is a GB IBAN and BIC which makes my transfer from my local bank to REVOLUT an international transfer.
The GB IBAN shows up when I click on the Euro flag, on the screen where my Euro balance is shown.
Hmm

Update - I transferred Eur from my Eur Visa card to my Revolut account EUR balance - no problem. Good enough!

Hi Laurence. Since SEPA it doesn’t matter what country the IBAN is. Transfers from euro to the GB IBAN go through in euro to your Revolut euro account.

Revolut have also introduced the new EU open banking rules so you can link your bank account (limited to BOI, AIB and one or two others at the moment). Once you link the account you can see your bank balance in the Revolut App and do a direct transfer of funds without the debit card or faffing about with IBANs. On the home page just click on linked at the top and set it up. Very handy.

Hi Robert, I can see that what you are saying is correct, Euro top-ups appear in the Eur balance even though the IBAN is a GB one.

Re providing access to the BOI / AIB accounts, I would be worried about the risk of a security breach or of losing the phone.
Not having a web client to access Revolut could leave you stuck unable to block access if you lost your phone, especially abroad. What do you think ?

Hi Laurence. I think it’s the very same risk as having the main bank app on your phone. Also with the web client they all require multi factor authentication now, so you have to your phone to access the web client.

I believe Revolut is fairly straight forward to download the app on a new phone or a friends phone and run through the security checks on line.

All in all I don’t see it as any more risky that the normal banks. But the user friendliness of the app and the ease with which you can do change security settings is great. I use it now for 95% of transactions. When abroad being able to switch on ATM and then back Off again after you withdraw is great security. I use a virtual card for all online transactions so it can’t be easily swapped if there is an issue. I turn off online transactions for the physical card so that if someone copies the details it can’t be used for online scams. I use it with friends and family all the time for transferring money, splitting bills etc. Saved my lad when he was abroad last year. His main cards were all blocked in Brazil and I was able to transfer money to his Revolut in seconds. The foreign currency rates are also fantastic and you can get an actual rate check live before you buy. Also being able to take a photo of a receipt to keep with the transaction has already saved my ass. And all your taps are free. Big saving on that since COVID.
All in all I’m a huge fan.

Nice to get that summary, Robert, thank you! It is very user friendly and useful, maybe that is why a part of me says "where's the catch?"