Revolut Account Funding Questions?

[WingNut]

I set up a Revolut account recently and have a few questions about funding it.

 

Since I registered the account with a U.S. address, I don’t have access to the EU SEPA transfer system. I had hoped to transfer euros into the account via SEPA, which would have been free, but that isn’t an option with a U.S. Revolut account. The only available method for depositing euros into a U.S. based Revolut account is via a wire transfer, which is costly, so I’d prefer to avoid it. Instead, I’m now looking for the fastest and most cost-effective way to deposit U.S. dollars into my Revolut account.

 

Apple Pay & PayPal Debit Card

 

I explored transferring USD via Apple Pay, but the only available payment method showing in the Revolut app (from all the cards already linked to my Apple Pay) is my PayPal debit card. Since I don’t currently have a balance in my PayPal account at the moment, I can’t do a test transaction on that yet.

• Does anyone know if transferring money to Revolut using a PayPal debit card is instant?

• Are there any fees from PayPal or Revolut for this transaction?

• I believe Revolut might charge up to 1% for funding the account via debit card, can anyone confirm on this?

 

Linking a U.S. Bank Account

 

I successfully linked my U.S. bank account to Revolut, allowing me to pull funds directly via the Revolut app. However, the app indicates that the transfer will take five days to complete, which seems unusually long for an electronic transfer.

• Does anyone know why it takes this long?

• Are there any fees on either side (from my bank or Revolut) when pulling funds from a U.S. bank account directly into Revolut via the Revolut app?

 

ACH Bank Transfer

 

Another option is to transfer funds via ACH from my U.S. bank into Revolut. ACH transfers within the U.S. are free from my bank and typically take one to two business days.

• Does Revolut charge any fees for receiving ACH transfers?

• I believe there are no charges from Revolut for receiving an ACH transfer, but I’d like to confirm before proceeding.

 

Wise Account & Debit Card Issues When Funding Revolut

 

I also tried linking my Wise debit card to transfer money into Revolut, but Revolut doesn’t allow funding via a Wise debit card, neither by linking the card directly to my Revolut account or by using one of my Wise debit cards already setup in Apple Pay.

 

It seems Revolut blocks debit card transfers from Wise, likely because they’re competitors. You’d think they’d encourage transfers from Wise into Revolut, but that doesn’t appear to be the case. I assume I could do an ACH transfer from my Wise account balance into my Revolut account, but I haven't tried that yet and Wise would charge at least 0.57% of the transfer amount as an AHC transfer fee. 

 

Basically, I’m aiming for the best balance between speed and low costs of getting U.S. dollars into my Revolut account. If anyone has insights or knows of other convenient and low to no cost ways to fund a Revolut account, I’d appreciate the advice. 

[Njoku]

Not really understanding of what you are trying to do, I transfer AU$ into both Wise and Revolut from my AU bank, normally I keep it under $2000 at a time, normally within an hour,  heard the transfers can take longer with larger amounts, especially with Revolut, both currency converters give you the option of holding multiple currencies within your account.

 

 I would expect Euro from a European bank in your name lands in euros free of charge, and like wise with a US bank any other way its a conversion, but, wise has a great help line on there app they will answer within 24 hrs 

[Sheryl]

I deposit money into my Revolut card via US debit card and no fee is charged. Seems to arrive immediately.

 

Like you I attempted to link my US bank account, was a mess, never worked well and after a short time it was listed on the Revolut app as "de-activated", never could get an explanation why and none if the Rvolut advice on how to reactivate worked; I gave up as any way debit card was working OK.