Need a hand?

As per The European Union's Transfer of Funds Regulation (EUTFR) guidelines, Virtual Asset Service Providers (VASPs) like Revolut are required to collect and store sender and receiver information for all crypto transactions, and exchange this information when transactions occur between two VASPs.

For transactions involving self-hosted wallets, VASPs must collect sender and receiver information from customers and verify ownership of the self-hosted wallet if the transaction amount exceeds €1,000.

Deposit process

• Deposits from exchanges: if the information accompanying the transfer (e.g. sender's name or date of birth) is incomplete, you may be prompted to add it. Deposits will remain pending until this information is provided

• Deposits from self-hosted wallets: depending on the amount, Revolut may require you to verify wallet ownership, and will guide you through this process. The deposit will remain pending during this verification process

• Rejected deposits: deposits from exchanges that do not adhere to the Travel Rule requirements will be rejected due to regulatory rules. In these cases, we suggest you use a self-hosted wallet address to deposit (verification of ownership is required)

Withdrawal process

• Withdrawals to exchanges: you'll need to provide beneficiary details (i.e. the recipient's name) when making a transfer. Revolut will send this information, along with information about you as required by the regulations, to the receiving VASP when you initiate the transfer

• Withdrawals to self-hosted wallets: in certain cases, Revolut may ask you to verify ownership of the wallet before completing the transaction, as required by the regulations

• Failed withdrawals: your withdrawal will fail if you try to withdraw to an exchange which doesn't adhere to the Travel Rule requirements, or if Revolut can't share the Travel Rule data. In these cases, you can use an address which belongs to another exchange or a self-hosted wallet address

What's the Travel Rule, and how does Revolut comply with it?

The Travel Rule — introduced by the Financial Action Task Force (FATF) — is a global standard which requires VASPs to share sender and recipient information for crypto transfers. These measures aim to enhance transparency, prevent money laundering, and combat terrorist financing.

Revolut has partnered with TRUST (Travel Rule Universal Solution Technology), an industry-driven solution that ensures compliance while maintaining a strong focus on your security and privacy. TRUST enables seamless and secure sharing of transaction data with other VASPs.