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How safe/reliable is Revolut to use for receiving payments and transferring money?
Thread poster: Barrie John
Andrew Morris
Andrew Morris
Local time: 03:10
ProZ.com team
Avoid like the plague Jan 22, 2020

I was with Revolut for a while but their customer service has to be a contender for the world's worst. They can put you on hold for 8 days at a time, block your funds for weeks if not months, and generally play havoc with your account. Really quite shocking and stressful.

Other people may have good experiences with them, but I wanted to add my two cents...

Thomas T. Frost
 
Thomas T. Frost
Thomas T. Frost  Identity Verified
Portugal
Local time: 02:10
Danish to English
+ ...
Telegraph: Revolut could face lawsuit from customers locked out of their accounts Jan 25, 2020

https://www.telegraph.co.uk/money/consumer-affairs/revolut-could-face-lawsuit-customers-locked-accounts/

It's a Premium article. As I said earlier, it's possible to read one free Premium article per week by registering.
 
Joshua Pachner
Joshua Pachner
Czech Republic
Local time: 03:10
Member (2011)
English to Swedish
+ ...
Revolut Aug 17, 2020

I have been using Revolut for a while now for receiving payments. The nice thing is that you can create multiple currency accounts in Revolut, all using the same IBAN.

So I currently have a EUR, USD and CZK account in Revolut. All incoming payments are without fees, however, intermediate banks may charge fees but that is mostly the case when receiving money from the US to Europe. I never paid any fees for receiving payments within Europe.

So If I have a customer in the ... See more
I have been using Revolut for a while now for receiving payments. The nice thing is that you can create multiple currency accounts in Revolut, all using the same IBAN.

So I currently have a EUR, USD and CZK account in Revolut. All incoming payments are without fees, however, intermediate banks may charge fees but that is mostly the case when receiving money from the US to Europe. I never paid any fees for receiving payments within Europe.

So If I have a customer in the US, I ask them to send me USD, if I have a European customer I will receive EUR, and my Czech customers can send me CZK, all currencies are going to the same Revolut account without fees.
And if you need to exchange currency, then Revolut has one of the best exchange rates on the market.

You can also withdraw your exchanged currencies within minutes from Revolut to a "traditional" bank account in Europe without any fees. The "physical" Revolut account is based in the UK, IBAN starting wit GB....

I think Revolt works great.

I am not paid by Revolut..:)

[Edited at 2020-08-17 23:27 GMT]

[Edited at 2020-08-18 08:12 GMT] ▲ Collapse
 
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How safe/reliable is Revolut to use for receiving payments and transferring money?







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