Hey all,
This morning, I received a notification via e-mail that Revolut switched over to a service in Lithuania. They did this to avoid any problems with Brexit and they plan to move to Ireland once they got the licence.
We have changed the International Bank Account Number (IBAN) that you use to receive bank payments. Your IBAN is used in payments to or from other banks, and regular payments to or from businesses. These can include payments like:
Direct debits
Your salary
Bank payments to your Revolut account
Payments to other Revolut users are not affected: nor are payments made using your Revolut card, or topping up your Revolut account.Your new IBAN starts with an âLTâ and replaces your old IBAN which started with âGBâ. You can find your new IBAN by selecting your Profile icon in the Revolut app, tapping on âAccount detailsâ and then selecting an account. Youâll need to provide this new IBAN to your employer, friends or family to receive transfers to your Revolut account. Youâll also need to update any active direct debits with your new details.
To make this transition easier, for six months youâll still receive payments sent to your old IBAN. However the bank sending the money may decide to impose an additional fee for transfers to GB IBANs after Brexit, so we strongly suggest you start using your new LT IBAN by 31st December.
So Iâd definitely recommend to not do any SEPA trades with your existing Sepa-Revolut accounts. Normal Revolut accounts shouldnât be affected because there is no need for IBANs.