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Why are my tax details verified when I open an account?

As per local tax regulation, Revolut is obligated to verify your TIN and solicit church association details. This is needed to apply the correct tax rate to your interest. We get these details from the central tax portal when you open your Savings account. The process can take a few hours or days.

As per our Product Terms, no interest will be accrued and paid before we get your tax details. The first interest payment will be executed on the next calendar day after we get your full tax details.

However, in case, where your name, DoB, address aren't updated with BZST and we don't get the details from the tax authorities, we won't be able to offer you interest on your Savings accounts. In these cases, contact your local tax office (Finanzamt) to verify and update your records.

More information

This information is also reported to German tax authorities in line with local tax laws. To understand how we handle and safeguard your personal data, read our Privacy Policy.