Why do I need to provide MyNumber?

As a regulated financial institution registered as a Funds Transfer Service Provider in Japan, we are obliged to receive the MyNumber information from customers wanting to send or receive funds overseas. It is a regulatory requirement to conduct overseas transfer.

Act on Submission of Statement of Overseas Wire Transfers for Purpose of Securing Proper Domestic Taxation (内国税の適正な課税の確保を図るための国外送金等に係る調書の提出等に関する法律; often abbreviated to 国外送金等調書法) states the purpose for which Revolut must receive MyNumber from our customers. In summary, we must obtain the user’s MyNumber for the purpose of creating a “notification concerning overseas remittance” (国外送金等告知書) for all overseas transfers (both inbound and outbound) pursuant to Act on Submission of Statement of Overseas Wire Transfers for Purpose of Securing Proper Domestic Taxation.

For details, please refer to Article 3 of the Act on Submission of Statement of Overseas Wire Transfers for Purpose of Securing Proper Domestic Taxation.