How will I be affected by this change to CZK and HUF local account numbers?
This change only affects you if you are expecting to receive inbound bank transfers to your local CZK or HUF account number.
From 24 March 2021 (for UK customers)/ 5 April 2021 (for EEA customers) onward, payments sent to you using your local CZK or HUF account details will not be credited to your account, and will be returned to the sending bank. To continue receiving bank transfers in these currencies, you must use your international IBAN displayed in the app. You can find it under “Accounts” on the home screen, by tapping the country symbol next to your balance and then clicking on “Details” within the settings - your international IBAN will appear below where it says “SWIFT”.
We do not charge any fees to receive payments using your international IBAN. However, the bank making the payment, or other banks in the chain, might do so, and they might sometimes take their fees from the payment you're receiving. We explain this in section 21 of our Personal Terms. Going forward, if you are expecting CZK or HUF from a payer with a Czech Republic or Hungarian bank or account provider, it may also take longer for the funds to arrive to your Revolut account because the sending bank or account provider will now treat the payment as a cross-border payment instead of a local payment.
Any fees, and the time it takes for you to receive a payment, will depend on the currency, the sending bank or account provider, and correspondent banks.
You can continue receiving bank transfers in CZK and HUF using your international IBAN as well as making top-ups in these currencies using your non-Revolut debit or credit card. You can also continue to make outbound bank transfers, card payments or exchange these currencies as usual.