Revolut switching from Lithuanian IBANs to Irish IBANs

Well it is all rolled out now and as the dust has settled.......but I am seeing one massive issue that Revolut messed up. The new Irish BIC (REVOIE22) is not been recognised by the International SWIFT system.

Apparently the SWIFT database gets updated maybe every 6 months and REVOIE22 is not currently on that database. No-one can tell me when it will be added either!

I had the old Lithuanian BIC and IBAN registered with E*Trade and the US dollar transfers worked great. Now E*Trade can't accept the new Irish BIC so the process it broken!!!

The LT one no longer works. No man's land......in banking terms.

Not good!
 
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Uafásach said:
Well it is all rolled out now and as the dust has settled.......but I am seeing one massive issue that Revolut messed up. The new Irish BIC (REVOIE22) is not been recognised by the International SWIFT system.

Apparently the SWIFT database gets updated maybe every 6 months and REVOIE22 is not currently on that database. No-one can tell me when it will be added either!

I had the old Lithuanian BIC and IBAN registered with E*Trade and the US dollar transfers worked great. Now E*Trade can't accept the new Irish BIC so the process it broken!!!

The LT one no longer works. No man's land......in banking terms.

Not good!
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It is not a SWIFT IBAN. I can't remember the exact rules off hand, but it ends in 2 which from memory SWIFT reachable BICs cannot.
 
Towger said:
It is not a SWIFT IBAN. I can't remember the exact rules off hand, but it ends in 2 which from memory SWIFT reachable BICs cannot.
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On E*Trade platform you enter 'REVOIE22XXX' for the BIC Field and, currently, this is not accepted. I asked E*Trade why and they said the new BIC is not up on the international database yet....and that it might take 6mths!

Revolut customer service acknowledged the issue but were unable to assist or give a timeline to resolution!
 
PayPal does not recognise Revolut. I thought that when we got Irish IBANs that this problem would be resolved.
 
losttheplot said:
Similar issue with Computershare, Revolut Swift is REVOIE23 for my account. Computer share says it's invalid. Contacted Computershare and told to contact bank for correct code.
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I've had other companies pull this excuse for other Irish BICs
 
Update - I called ETrade manually add my 'new' Revolut IBAN and BIC to their database.

I then attempted to wire US$ from Etrade to Revolut and it failed.

This is so frustrating.
 
Are you sure the BIC/IBAN is the issue?

My colleague had similar issue initially when his Revolut changed from LT to Irish. He previously had transferred from Fidelity in the US to Revolut with LT account OK via intermediary bank (As did I). When his account changed to Irish BIC/IBAN, simple account detail update didn't work but the change of intermediary bank detail worked for him.

My own Revolut is still with LT BIC/IBAN so I haven't tried it myself yet.

So I'm wondering if your situation is the same by that I mean you may need to use intermediary bank? Anyway just something to consider
 
Uafásach said:
Update - I called ETrade manually add my 'new' Revolut IBAN and BIC to their database.

I then attempted to wire US$ from Etrade to Revolut and it failed.

This is so frustrating.
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nothing you can do for the moment about it. My company has thousands waiting on this and we were told unlikely in 2023 to be resolved.
 
Revolut bic is showing here (know very little about this so probably grasping at straws here as don't want to pay 600 eur to convert from etrade

SWIFT/BIC Codes for Banks in Ireland

SWIFT Codes & BIC Codes for Banks in Ireland
www.theswiftcodes.com www.theswiftcodes.com
Screenshot_20230827-201519_Chrome.jpg
 
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