how to deposit cash into revolut uk. Where you send the money from can affect how long it takes for a bank transfer to complete, which can range from a single day to several. It takes literally seconds to add funds to your Revolut account from a credit or debit card. Your trading account accepts only deposits made from your Revolut account.
The Revolut app supports a wide variety of base currencies, but trading accounts must be held in US dollars because the app only allows trading on the NYSE. Setting up a USD account is quick and easy, but you’ll need to convert your funds to USD before placing an order.
What are the steps involved in transferring funds between bank accounts?
If the sending and receiving banks are both in the same country, the transaction is considered a domestic or local transfer. Foreign exchange and the associated fees are standard when making a cross-border wire transfer of funds.
Follow these steps to figure out the bank transfer information:
Open the Home screen and Accounts tab in the app.
Select the currency you would like to add to your Revolut account from the drop-down list.
Select “Details” by tapping the… button next to “Send.”
Make sure it is the correct currency in the app, as the transfer might not arrive if its a different currency than that of the destination Revolut account. Add the currency that your bank account is held in to avoid bad exchange rates. For instance, if you have a US bank account, make sure you transfer in USD to your USD Revolut account.
If you’re adding GBP from a UK bank account using Faster Payment, CHAPs, or BACs, use your local account details; otherwise, use your IBAN from the SWIFT tab.
Incorporating Euros: your International Bank Account Number (IBAN) and Bank Identifier Code (BIC) can be used for either a Single Euro Payments Area (SEPA) or a SWIFT transfer.
Use the IBAN and Revolut BIC shown in the SWIFT section to add additional currencies.
When using Revolut, how long do wire transfers take?
When sent within the same country, local money transfers can often be completed within a single business day. It could take up to five business days for an international SWIFT transfer to clear. Make sure you use the correct IBAN and BIC when making a SWIFT transfer, as displayed in the app.
Does Revolut cost anything to make a deposit?
There are no deposit fees with Revolut. However, before initiating a Revolut transfer, make sure no additional fees will be incurred.