Revolut is a great platform to spend money while having complete control. There are so many perks and benefits on Revolut for free, that its competitors charge a hefty amount to provide.
With the built-in budgeting feature, people often find it amazing to spend using Revolut. And that’s where adding money to the account comes into play. But how do you do it? How to transfer money to Revolut from bank account and spend using Revolut?
In short, you have to put in your Revolut account and BIC code while transferring the money from an external bank. External banks have their methods of other bank transfer, so the interface will be different from one bank to another.
Well, that’s what we’re discussing today, and we’ll see how spending money has become a lot efficient with Revolut.
A Note About Revolut
Revolut is a mobile-only banking system and a global payment solution that supports 150 overall currencies at inter-bank cheap exchange rates. You can do transactions in 28 in-app currencies in over 35 countries, even in 5 popular crypto services. Who else offers that much? Revolut has proven its worth and made itself a worthy consideration with over 15 million active users.
From currency exchanges with ATM option without unfair fees alongside global transfers, Revolut even offers disposable virtual debit cards. Besides, it’s fully protected by FDIC, which means your money is secure (up to 250 thousand bucks). Once you have your Verified Revolut Account, especially with pro features, you’ll get a metal card, with all the security you get now from Visa or Mastercard.
How To Transfer Money To Revolut From Bank Account [Step By Step Guide]
You can use Revolut as your go-to banking system, and import money from traditional banks as well. Transferring money from any normal bank is almost similar to transferring money in general. However, there’s a general way of doing money transfers from one bank to another. The same applies for Revolut. You’ll transfer the money to Revolut as another bank from your current bank.
Find Your Routing Number First
To make a successful money transfer from an external bank account, you have to know the routing number (BIC) of your Revolut account. As the routing number is a public thing in general, you can find it on Google or DuckDuckGo by searching by your area. However, if you find that complicated, here is an easier way to do so:
Log into your Revolut account and click on “Add Money” and then “see more methods” option. Here, you’ll click on the “transfer to your Revolut account” button to reveal your BIC number. This is the number you’ll need for an external money transfer from other banks.
Once you have your routing number in hand, you’re ready to transfer your money to Revolut. And here is the step by step guide on how to transfer money to Revolut from bank account:
Step 1: Go to your external bank account’s website and log into your bank account to access the money you want to transfer.
Step 2: Inspect how much you have on your account and be sure that you’re leaving the necessary holding amount behind (if applicable
Step 3: Now, select the menu that triggers an external transfer, might labeled as “Other bank transfer”, or something like that.
Step 4: Put all your Revolut account details and account type in the respective boxes. You can find them on your Revolut’s account like the BIC number.
Step 5: Get the routing number of your Revolut account you’ve collected and put that in the appropriate field as well.
Step 6: If your external bank asks for one or two small deposits before the main transactions, go ahead and complete your transactions.
Step 7: It will take up to 3 business days to complete the deposit process and show the amount on your Revolut account. In case you don’t find the money after that, you have to contact Revolut customer care.
Is a Revolut Card Worth Having?
With Revolut cards, you’re getting ten times better convenience compared to conventional bank cards. First off, you’re getting different types of cards including a fancy metal card, virtual card (with disposable too), travel card, and so on. You can limit usage, freeze cards, cash with fewer ATM withdrawal fees, and use for contactless payment.
Besides, you can add the card to other services like Apple Pay, and others. Rest assured, free withdrawals of up to $300 and fewer charges on transactions. Revolut offers both a free option to use the service and a pro version consisting of a bunch of extra perks. You get the metal card only with the Revolut premium of the mobile banking system which comes with pro features.
You’ll get extra 1% cashback on every purchase you make using the metal card, and you get a stash bank. With every uneven transaction you do, Revolut will make it even and give save the rest in your account. It’s a great feature on Revolut to save money without even actively paying attention to it.
Is My Money Safe in Revolut?
Every penny you deposit into your Revolut account is safeguarded with Lloyd’s and Barclays. Besides, Revolut is an authorized entity compliant with the regulatory requirements. On the other hand, Revolut has a banking license under the European Central Bank with full banking formations.
Not just that, you’re protected from the FDIC with Revolut when you’re depositing a fund with over $250000. On top of that, if you’re in the UK, you’re secured by the European Deposit Insurance Scheme (EDIS) with a €100,000 coverage. And all your transactions are processed through the Visa, Mastercard, or Maestro network with full security with international transfer fee.
Despite being comparatively a new financial service provider (stated in 2015), Revolut has already won the market with numerous perks. Now you know how to transfer money to Revolut from bank account and know that the money is secure. There’s no reason not to use a Revolut account to do daily transactions, especially when you’re getting free global transactions.
Not just that, Revolut’s offering a great free withdrawal with 1% cashback on purchases. Furthermore, the stash piggy bank will give you smiles, let alone the prompt notifications on purchases and payments with bank details. The card system that includes regular card, virtual card, unlimited disposable card, etc. will give you next-gen banking experience.