Revolut Debit Card Deposits

Hi

Can anyone tell me if deposits made by debit card into a Revolut account are available for withdrawal instantly? The transactions show as complete on the Revolut app. If so why is this the case?

Many thanks 

Comments

  • Barabas65
    Barabas65 Posts: 2 Newbie
    First Post
    It mite not have been cleared by your bank before u made debit card deposit
  • Barabas65
    Barabas65 Posts: 2 Newbie
    First Post
    Also using Internet banking this day and age it's probably  been held up until u can verify on line .
    It happens alot personally  I have prob every time I use mine .So if poss try and talk to ure card provider and they can point u in correct direction .
  • sheffieldeagle
    sheffieldeagle Posts: 697 Forumite
    Part of the Furniture 500 Posts Name Dropper Mortgage-free Glee!
    Sorry I've probably not been very clear. I'm not having a problem it's quite the opposite. Normally debit card deposits normally take a few days to arrive in the receiving account but ones into Revolut appear to be complete straight away. I'm not complaining but how do Revolut achieve this? Are they just covering the pending amount themselves?

    Cheers
  • flaneurs_lobster
    flaneurs_lobster Posts: 5,788 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    Sorry I've probably not been very clear. I'm not having a problem it's quite the opposite. Normally debit card deposits normally take a few days to arrive in the receiving account but ones into Revolut appear to be complete straight away. I'm not complaining but how do Revolut achieve this? Are they just covering the pending amount themselves?

    Cheers
    My understanding is that Revolut are doing exactly as you say, making "pending" funds available immediately.

    I use this monthly to make a £500 payment by debit card from Halifax to qualify for the £5 reward. The funds are immediately paid away to another current account. The Revolut account sits for the rest of the month with ~£30 balance.
  • sheffieldeagle
    sheffieldeagle Posts: 697 Forumite
    Part of the Furniture 500 Posts Name Dropper Mortgage-free Glee!
    Sorry I've probably not been very clear. I'm not having a problem it's quite the opposite. Normally debit card deposits normally take a few days to arrive in the receiving account but ones into Revolut appear to be complete straight away. I'm not complaining but how do Revolut achieve this? Are they just covering the pending amount themselves?

    Cheers
    My understanding is that Revolut are doing exactly as you say, making "pending" funds available immediately.

    I use this monthly to make a £500 payment by debit card from Halifax to qualify for the £5 reward. The funds are immediately paid away to another current account. The Revolut account sits for the rest of the month with ~£30 balance.
    Ah thanks for that this is why I've opened the account. The weekends can really delay the money merry-go-round.

    Much appreciated.
  • PRAISETHESUN
    PRAISETHESUN Posts: 4,704 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    Last time I used my Revolut account it worked exactly as you described - the money was available for use immediately, but took a day or two to clear on the debit card bank's end. Seems awfully risky for Revolut to do this in my view. Ultimately they could end up out of pocket if the transaction was cancelled/reversed somehow after the funds were withdrawn.
  • WillPS
    WillPS Posts: 4,936 Forumite
    Part of the Furniture 1,000 Posts Newshound! Name Dropper
    Last time I used my Revolut account it worked exactly as you described - the money was available for use immediately, but took a day or two to clear on the debit card bank's end. Seems awfully risky for Revolut to do this in my view. Ultimately they could end up out of pocket if the transaction was cancelled/reversed somehow after the funds were withdrawn.
    AFAIK customers have no ability to stop an authorised debit card payment until it has settled - I've been in a situation where I've tried to dispute a charge and I've been told it cannot be disputed until the process has completed.

    Perhaps it's different for fraud.
  • flaneurs_lobster
    flaneurs_lobster Posts: 5,788 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    WillPS said:
    Last time I used my Revolut account it worked exactly as you described - the money was available for use immediately, but took a day or two to clear on the debit card bank's end. Seems awfully risky for Revolut to do this in my view. Ultimately they could end up out of pocket if the transaction was cancelled/reversed somehow after the funds were withdrawn.
    AFAIK customers have no ability to stop an authorised debit card payment until it has settled - I've been in a situation where I've tried to dispute a charge and I've been told it cannot be disputed until the process has completed.

    Perhaps it's different for fraud.
    Not a dispute, but I've had the same response when trying to cancel a "pending" payment made in error. Had to wait for the transaction to finalise before asking the payee to revert.
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