bobd22

In that case how do Revolut hold your euro account to do exchanges from £.? I have Revolut and find it great I have sterling and euro account but am resident . Sterling account has Sort code etc Euro account has Spanish IBAN. My son in law who is UK based and resident has just opened a Revolut account for travelling he has a sterling and euro account ?

bobd22

I have just checked the Revolut site and it confirms exactly as you say. They do have a Spanish branch in Madrid and if Spanish resident ones euro account is under that branch with Spanish IBAN. If UK resident you can't be assigned that branch or get a Spanish IBAN . You can have a euro account but not the Spanish branch or IBAN. So UK residents with euro account must operate differently and be attached to the UK account. Being Spanish resident it just automatically got set up for me when I opened the account. I find Revolut excellent I just have the standard free accounts , I don't have a physical card I just use it via my phone and Google pay to make payments. So far good rates and instantaneous transfer between my UK account to Spanish and vice versa. Before this I had used Currency Fair for years but Revolut exchange rates are better and the app is very easy to use

UKMS

Well Revolut and others can hold many currencies for you but you dont get an IBAN or account details for all of them.

Apologies I should have expanded on my earlier post. With Revolut (for a UK resident) associated with your EU pot you get a Lithuanian IBAN but this is for domestic (EU) transfers only and you get a GB IBAN for cross border transfers.

For your son in law none of that really matters if he is using it just for travel. I presume he will top it up in £ from a UK bank and he can then either exchange the funds within the app to Euro to spend or what many people do is just leave funds in the £ pot and let Revolut exchange on the fly as you spend Euros.

I was referencing IBAN earlier in relation to paying Spanish bills.

(just seen our posts crossed)

bobd22

Yes sorry that was my fault I should have researched before making my first comment.

UKMS

I know we have strayed OT, but I echo your experience with Revolut (and also with Wise). Super exchange rates and very easy to use for anyone who has more than one currency in their life.