We know this fee was deducted in the UK, but Revolut did not include it in the total – they only included the £3 Transfer Fee they advertise online. So in total, we were charged £18 for each international SWIFT transfer to GBP.
We contacted Revolut to ask about this, and they replied: “sometimes there are fees, which are applied by the intermediary banks”. They refused to refund the £15 as it was not applied by them, despite us pointing out that Revolut does not mention the existence of such an extra fee on their website.
Please also note: be careful when communicating bank details to your debtors so you don’t leave out the BIC code when necessary (for transactions outside SEPA).
Another drawback: Revolut for Business is in principle a multi-currency account. When activated, it first offers three accounts: in GBP, EURO and USD. To benefit from the promised multi-currency account, you must go through an additional verification step and make the request via the chat. After our request in France, our multi-currency account was activated that day.
It’s regrettable that this procedure is not clearly explained at the time of account creation and in the FAQs. We had to browse the Revolut user forum to discover this step-by-step activation.