How do I switch my existing bank account to Revolut?
Revolut offers an account switching service, provided according to the Decree-Law n.º 107/2017. Account switching allows consumers and micro-enterprises to transfer their account to another bank of their choice with head offices or a branch in Portugal, provided it’s in the same currency.
The account switching service must be requested in writing (using the appropriate form) to the bank you wish to change your account to.
Revolut does not charge for this service as a destination provider. To use our account switching service, you must open a Revolut account, have completed your identity verification and then submit your request.
Using the account switching service
The request is made by the account holder(s) by completing an account switching form, authorising Revolut and the origin PSP to execute each of the tasks (recurring credit transfers, standing transfer orders and direct debit authorizations), and the date from which these should be executed.
If the account has more than one holder, the form must be signed by all of them. A copy of will also be made available. Once signed, the form must be submitted through the Account Switching Page. The subsequent tasks are the responsibility of Revolut and the origin provider.
More information on the duties of Revolut and the origin provider, as well as the deadlines for carrying out the tasks associated with the account switching, can be found in our Account Switching Terms.
Our account switching service doesn't cover:
- Some incoming funds (e.g. social services payments)
- Direct Debits from certain companies. You must contact them directly to provide your new account details
- Recurring payments linked to your old debit card
- Credit facilities, including personal loans and credit cards