I wonder how the “transition period” to being a fully fledged bank is going at Revolut. In a previous role I have had my salary in there and I still think it’s the most malleable of financial tools, but until they get the license I probably won’t give those details in case they change. Am I right in saying they need to mobilise by next July?
I (personal acct) am on the 04-00-75 but my joint account is on the new one. I think they bought it in house as it doesn’t say Modulr when you set it up as a payee anymore.
That said perhaps there will be a change when they become a bank. I got a new job and didn’t give the Revolut details for this reason. Perhaps overkill but not worth the risk of missing a payroll cut off. I wonder if we will all be going over to 04-29-09?
I didn’t get this email you see and it does seem odd to send it for no reason. That said some people I know have used Monzo or Revolut for years and didn’t realise there were proper bank details - just used it P2P - so maybe an awareness push?
That said, I wish they’d get it all finalised so I can set and forget. Most of my payees and bills are on Revolut.
My Sterling GBP account is held by the Lithuanian entity and I have sort codes 04-00-75 and 04-29-09 for the single and joint.
They haven’t changed in a long time, and they didn’t change when the Irish entity went from e-money to bank.
Not sure if that might give a clue to what might happen when UK does the same?
Weirdly though, I have this notification in app today.
I’ve never enabled or used the Romanian account, I’ve never been there.
So I did enable it to take a look, and have the standard IE IBAN there.
I think Romania and Italy got their localised account details enabled this week though. Perhaps some glitchiness is happening on the back end.
I feel they will most likely stay the same but it would be good to know for sure. The last time I asked they couldn’t confirm or deny. I guess they’d have to give a lead time if they were changing?
But I’ve got it in my head that I’ll give my employer the details once they become a bank so I’ll stick to that
I’d hope that they don’t change anything again.
It’s a massive PITA to get credits / debits rearranged, especially if like me you have loads of them across the single and joint accounts - some needing written notice to change
Also as a small e-money institution you can maybe understand them changing suppliers, but once you’re a bank and you have onboarded many more customers that’s going to be a tough sell and not do you any favours from a reputation standpoint