Paying your personal loan with SEPA Direct Debit
Can I use an external account to pay my loan instalments?
During your loan application or in the loan management options, it is possible to select the account where you want to pay your loan from. You can pay from your Revolut account, or use an external account to pay with SEPA Direct Debit.
How do I set up SEPA Direct Debit?
To guarantee the following instalment is paid from your external account you must set up Direct Debit 5 business days before the due date.
- Go to 'Home' on the bottom menu
- Below your balance, tap 'Accounts'
- Choose the loan you want to manage
- Tap 'Info'
- Go to 'Repayment details' and select 'Manage'
- Select the account where you want to pay your loan from
You must be the account holder to set up Direct Debit.
How do I cancel SEPA Direct Debit?
At any time you can change the payment method back to your Revolut account. To guarantee the following instalment is paid from your Revolut account, you must change it at least 2 business days before the due date.
- Go to 'Home' on the bottom menu
- Below your balance, tap 'Accounts'
- Choose the loan you want to manage
- Tap 'Info'
- Go to 'Repayment details' and select 'Manage'
- Select your Revolut account
Why is my personal loan instalment pending?
When using SEPA Direct Debit to pay your instalments, and until we receive the confirmation of the payment from your bank, the payment will be pending. This information will be updated in your Revolut app once we receive the confirmation. In some cases this may take up to 5 business days.
Personal loan provided by Revolut Bank UAB, registered with the Bank of Portugal under number 3504.