clinteastwood
Registered User
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- 173
Has yours not changed to an IE IBAN, since ~ a year ago ...??
Has yours not changed to an IE IBAN, since ~ a year ago ...??I looked at my own Revolut euro, sterling, and dollar balances and they all have the same Lithuanian IBAN.
For the dollar balance Revolut provides a correspondent BIC for JP Morgan Chase in London. This is I assume the entity that has a correspondent banking relationship with Revolut so they can facilitate customer transfers with the US.
Yes, but they don’t supply a separate account or routing number for incoming currency payments which is why the OP’s funds appeared in euro since they were sent to the IBAN.I looked at my own Revolut euro, sterling, and dollar balances and they all have the same Lithuanian IBAN.
For the dollar balance Revolut provides a correspondent BIC for JP Morgan Chase in London. This is I assume the entity that has a correspondent banking relationship with Revolut so they can facilitate customer transfers with the US.
This has not been my experience with incoming payments in any currency- they’ve always appeared in Euro. Unless the dividends derive from the Revolut trading platform.I receive modest quarterly dividends to Revolut in USD. No fees between the broker or Revolut ..ie 1000 USD arrives without any deduction.
Just provide your Revolut IBAN. Its an IE nowadays, but it also worked 100% fine with the prior Revolut LIT IBAN.
Regardless of how many currencies you have in your App, you only have one IBAN.
Its very simple.
So it seems the USD funds were converted to EUR, back to USD, then back to EUR again.which is why the OP’s funds appeared in euro since they were sent to the IBAN.
No, it's a Fidelity broker account in New York. From time to time I simply transfer or as the Americans write 'wire' the amount in USD to my Revolut IBAN.This has not been my experience with incoming payments in any currency- they’ve always appeared in Euro. Unless the dividends derive from the Revolut trading platform.
So you routinely transfer USD originating from a US bank to the Revolut Irish IBAN and it arrives intact in USD? Is it a Revolut legacy function I wonder since I’ve never been able to utilise it in this way.No, it's a Fidelity broker account in New York. From time to time I simply transfer or as the Americans write 'wire' the amount in USD to my Revolut IBAN.
I pressed two buttons to open a USD currency account to my existing euro account in the Revolut app. It had a balance of 0.0.in USDinitially
Then the dollars arrived without any deduction. Then using Revolut app I exchange to euro, for a very good FX rate whenever I want to spend the money locally. There are no fees on top of the FX rate during weekdays for amounts less than 1000E a month with the bog standard rev account.
Yes I routinely do this. At least once a quarter,I like to spend my share dividends, from New York.So you routinely transfer USD originating from a US bank to the Revolut Irish IBAN and it arrives intact in USD? Is it a Revolut legacy function I wonder since I’ve never been able to utilise it in this way.
I did exactly as you have said and it was converted for me. What BIC are you using? I used the Irish REVOIE23 code along with my IBAN. There is also CHASGB2L which I assume is the BIC of the intermediary bank. This BIC was not included on the payment as this is the only detail Revolut give and it is insufficient information for intermediary details.No, it's a Fidelity broker account in New York. From time to time I simply transfer or as the Americans write 'wire' the amount in USD to my Revolut IBAN.
About two years ago, I pressed two buttons to open a USD currency account to my existing euro account in the Revolut app. It had a balance of 0.0.in USD initially.
The dollars arrive exactly , sent by Fidelity without any deduction. There is no FX rate change at all or wire fee .imposed by Fidelity or Revolut. So if I wire 100 dollars from New York, it arrives as 100 dollars in Revolut.
Then using Revolut app, from time to time I exchange to euro, for a very good FX rate whenever I want to spend the money locally or on holidays.
There are no exchange USD to Euro fees on top of the FX rate during weekdays for amounts less than 1000E a month with the bog standard Rev account., So this is excellent and simple.
Maybe ring your broker to change their instruction to keep in dollars.
BIC is REVOIE23.I did exactly as you have said and it was converted for me. What BIC are you using? I used the Irish REVOIE23 code along with my IBAN. There is also CHASGB2L which I assume is the BIC of the intermediary bank. This BIC was not included on the payment as this is the only detail Revolut give and it is insufficient information for intermediary details.
Yes I have multiple currency accounts and receive monthly payments in USD, CAD and AUD but no longer direct them to Revolut but Wise, since I was open to prevailing euro exchange rate when they used to arrive as euros into my Revolut IBAN so a bit baffled by your experience. Perhaps I’m mistaken but can only assume it’s a legacy feature that no longer works for more recent customers but it definitely doesn’t work that way for me.Yes I routinely do this. At least once a quarter,I like to spend my share dividends, from New York.
It's an electronic transfer, in USD, I setup inside my Fidelity account. with the Rev IE IBAN. It also worked when the Revolut was using LIT IBAN. So that's about two years ago.
Have you setup a USD account in your Revolut?. It's really easy.
Over a pint I setup my friend who has poor literacy skills, the Revolut app and then later a USD, STG and Thai Baht account as he was going to Phuket on holidays and was about to run off to the credit union to order cash in these currencies. Imagine the fees and poor exchange he would incur and hastle.
Revolut we did the same in 10mins, setup the accounts and bought his currencies over a pint of plain. Happy days.