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  • FIRST POST
    • vic09
    • By vic09 22nd Aug 19, 9:31 AM
    • 17Posts
    • 2Thanks
    vic09
    Revolut - direct transfer to bank accounts possible?
    • #1
    • 22nd Aug 19, 9:31 AM
    Revolut - direct transfer to bank accounts possible? 22nd Aug 19 at 9:31 AM
    Hello all, I'm looking to open a revolut account. I know it's a bit different from regular bank accounts so I wanted to confirm if it's possible to pay from a revolut account into another bank account. For example, can I pay my rent directly to my landlord's account?
Page 1
    • eDicky
    • By eDicky 22nd Aug 19, 10:32 AM
    • 4,902 Posts
    • 3,006 Thanks
    eDicky
    • #2
    • 22nd Aug 19, 10:32 AM
    • #2
    • 22nd Aug 19, 10:32 AM
    Yes you can. But unless your rent is to be paid in a currency other than GBP, it would be simpler to transfer directly from your regular bank account.
    • Ken68
    • By Ken68 22nd Aug 19, 11:23 AM
    • 6,518 Posts
    • 4,148 Thanks
    Ken68
    • #3
    • 22nd Aug 19, 11:23 AM
    • #3
    • 22nd Aug 19, 11:23 AM
    Google shows a BBC report on Revolut . Not good reading.
    • colsten
    • By colsten 22nd Aug 19, 12:16 PM
    • 10,852 Posts
    • 10,076 Thanks
    colsten
    • #4
    • 22nd Aug 19, 12:16 PM
    • #4
    • 22nd Aug 19, 12:16 PM
    Hello all, I'm looking to open a revolut account. I know it's a bit different from regular bank accounts so I wanted to confirm if it's possible to pay from a revolut account into another bank account. For example, can I pay my rent directly to my landlord's account?
    Originally posted by vic09
    It may not matter to you, but are you aware that Revolut has no FSCS protection?
    • vic09
    • By vic09 22nd Aug 19, 1:30 PM
    • 17 Posts
    • 2 Thanks
    vic09
    • #5
    • 22nd Aug 19, 1:30 PM
    • #5
    • 22nd Aug 19, 1:30 PM
    Ohhh I didn't know that. Wasn't planning on making it my main account but thanks for pointing it out
    • vic09
    • By vic09 22nd Aug 19, 1:32 PM
    • 17 Posts
    • 2 Thanks
    vic09
    • #6
    • 22nd Aug 19, 1:32 PM
    • #6
    • 22nd Aug 19, 1:32 PM
    I can't pay my landlord with my credit card, he only accepts bank transfers. So my plan is to fund the revolut with my credit card so that I can get some amex points out it, if that makes sense.
    • surreysaver
    • By surreysaver 22nd Aug 19, 3:32 PM
    • 2,860 Posts
    • 1,587 Thanks
    surreysaver
    • #7
    • 22nd Aug 19, 3:32 PM
    • #7
    • 22nd Aug 19, 3:32 PM
    I can't pay my landlord with my credit card, he only accepts bank transfers. So my plan is to fund the revolut with my credit card so that I can get some amex points out it, if that makes sense.
    Originally posted by vic09
    That, I believe, would be treated as a cash transaction, so you will end up paying very high fees on your credit card. It would be no different to walking up to a cashpoint and withdrawing the money in cash with your credit card.
    I consider myself to be a male feminist. Is that allowed?
    • PRAISETHESUN
    • By PRAISETHESUN 23rd Aug 19, 11:25 AM
    • 1,190 Posts
    • 650 Thanks
    PRAISETHESUN
    • #8
    • 23rd Aug 19, 11:25 AM
    • #8
    • 23rd Aug 19, 11:25 AM
    Most likely Amex will consider funding your Revolut account as a cash transaction, if they let you fund it at all. But that aside, there is nothing stopping you using Revolut to transfer to another bank account - it is after all a current account (just without FSCS protections).
    • Nick_C
    • By Nick_C 23rd Aug 19, 11:33 AM
    • 5,367 Posts
    • 8,568 Thanks
    Nick_C
    • #9
    • 23rd Aug 19, 11:33 AM
    • #9
    • 23rd Aug 19, 11:33 AM
    You cannot load Revolut with an Amex card.

    You can load Revolut with a Mastercard or Visa. I do it frequently. You can load and spend on the same day to minimise the risk of keeping funds with Revolut.

    I suggest keeping transactions small initially. I have read that they do a serious review of your spending and income if you hit 25K in a year.

    You can also draw 200 a month in cash.

    I believe Tandem do not allow Revolut top ups. And I would avoid Tesco, as they reportedly treat (some or all) Curve transactions as cash.
    • sillyhilly
    • By sillyhilly 23rd Aug 19, 2:46 PM
    • 105 Posts
    • 153 Thanks
    sillyhilly
    It may not matter to you, but are you aware that Revolut has no FSCS protection?
    Originally posted by colsten
    That's a bit of a red herring though.

    Revolut are required to keep all client funds in a segregated account so, worst case scenario, the funds are protected.
    • surreysaver
    • By surreysaver 23rd Aug 19, 5:52 PM
    • 2,860 Posts
    • 1,587 Thanks
    surreysaver
    That's a bit of a red herring though.

    Revolut are required to keep all client funds in a segregated account so, worst case scenario, the funds are protected.
    Originally posted by sillyhilly
    Assuming they've kept client funds in a segregated account
    I consider myself to be a male feminist. Is that allowed?
    • vic09
    • By vic09 26th Aug 19, 11:53 AM
    • 17 Posts
    • 2 Thanks
    vic09
    Ohhh I see, that's a shame, I thought I had the perfect plan lol
    I've also got a points-earning mastercard CC and you mentioned Curve in your comment...can you confirm if I can use my mastercard CC with Curve to top up Revolut? Would it also be treated as cash advance?
    • colsten
    • By colsten 26th Aug 19, 1:00 PM
    • 10,852 Posts
    • 10,076 Thanks
    colsten
    That's a bit of a red herring though.

    Revolut are required to keep all client funds in a segregated account so, worst case scenario, the funds are protected.
    Originally posted by sillyhilly
    It's not the same as FSCS protection. They aren't "required", they just say they will do. Whether they actually do is not clear, and you wouldn't have any comeback if they didn't. Fine by me if you are happy with less safety - after all, it's your money you are risking, not mine.
    • Heng Leng
    • By Heng Leng 27th Aug 19, 9:52 AM
    • 4,812 Posts
    • 1,575 Thanks
    Heng Leng
    It's not the same as FSCS protection. They aren't "required", they just say they will do. Whether they actually do is not clear, and you wouldn't have any comeback if they didn't. Fine by me if you are happy with less safety - after all, it's your money you are risking, not mine.
    Originally posted by colsten
    They are also in the process of obtaining an EU banking license -Lithuanian IIRC.

    I use Revolut but only for overseas spends / small forex and then transfer funds elsewhere for safekeeping.
    • Nick_C
    • By Nick_C 27th Aug 19, 10:00 AM
    • 5,367 Posts
    • 8,568 Thanks
    Nick_C
    Ohhh I see, that's a shame, I thought I had the perfect plan lol
    I've also got a points-earning mastercard CC and you mentioned Curve in your comment...can you confirm if I can use my mastercard CC with Curve to top up Revolut? Would it also be treated as cash advance?
    Originally posted by vic09
    You can top up Revolut directly from a credit card (but not Amex). No point in going via Curve.
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