Introducing your Revolut virtual account

Deborah Tan-Pink

 · 12/01/2020  · 12/01/2020

Receive money direct to your Revolut account from any Singapore bank. And best of all, it’s completely free!

You now have a shiny new Revolut account. Once you launch your Revolut app, you’ll find your unique account number under Details (see gif below for the step-by-step). With this account number, anyone can transfer money to your Revolut wallet using their local banking app.

Topping up your Revolut wallet using bank transfer is secure, fast and free. If you want to make full use of some of the cashback campaigns we've been doing, you need to know how to top up via local bank transfer.


Other important information:

How else can I locate my Revolut account details?
There are 2 other ways:
(a) Tap the Singapore flag at the right-hand corner of your home-screen
(b) Tap "Add money", change method you use to top up your Revolut account, and tap "Regular bank transfer"  

Can anyone transfer money to me using these details?
Yes, but only if they are SGD transfers from a Singaporean bank that is a FAST-participant.

Do I still need to set up an External Account?
Only if you are going to transfer the equivalent or more of S$4,800 to your Revolut account. This is so that at the end each day, any amount in excess of S$5,000 will be automatically transferred back to your bank account.

[Read: How to set up your External Account]

I can't seem to find the option to toggle on my External Account ...
Make sure your Revolut app is updated to latest version. When adding in your local bank account to the app, the beneficiary name must be an exact match to your Revolut account name [meaning, if you used "Peter Wei Qiang Koh" as your Revolut registered name, make sure the bank account set-up in-app lists "Peter Wei Qiang Koh" as the beneficiary name, even if your bank account name may be "Koh Wei Qiang Peter"].

What happens if I choose not to set up an External Account?
It is not necessary to set up an External Account. However, if you try to transfer more than S$4,800 to your Revolut account, you will be prompted by the app to set one up. If you don't, your transfer won't go through.

Will I be charged for an incoming bank transfer?
Absolutely not! Revolut prides itself on providing low-cost payment solutions to our customers and we won’t charge you a cent. Although FAST payments are generally free or very cheap to send, it’s worth checking with your bank whether any fees will be charged by them.

Is there a minimum/maximum limit for a single transfer?
There is no minimum amount needed for a transfer. However, for users with an External Account, there is a maximum limit of S$200,000 per transfer as per FAST payment scheme rules. Your wallet balance will be subject to the Payment Services Act limit. For customers without an External Account, the maximum limit is the difference between your wallet balance and S$4,800.

Can I receive payments via PayNow or PayLah?
Not yet. But this is something we’re working hard to bring you