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Revolut

Can a maintenance loan be paid into a Revolut bank account ?
Original post by Brads1273783
Can a maintenance loan be paid into a Revolut bank account ?


Hi there,

Revolut does not have a UK banking licence and therefore can't be used.
We only accept UK banks.

Thanks, Isaac
Reply 2
That is not true. Since Revolut gives a valid bank account you can receive your maintenance loan there. You will also receive it earlier, eg if you were to receive the money on Monday you'll receive it the Friday before. I have done that and it worked with the SLC.
Original post by YannisKl
That is not true. Since Revolut gives a valid bank account you can receive your maintenance loan there. You will also receive it earlier, eg if you were to receive the money on Monday you'll receive it the Friday before. I have done that and it worked with the SLC.

Your information is false and you shouldn't of received any payment into a Revolut account.
If you did then this will have been an error.

Our guidance states:

Payments can be made to some UK bank accounts which are provided using a digital platform only. However, students should ensure that their digital platform bank is licensed and registered to complete banking services before updating their bank details with us.


If their bank has been granted a banking license we can make payments to their digital bank account.

Some digital banks provide payment and e-money services only, they are not registered to complete banking services. We cannot make payments to these digital bank accounts


Revolut will only be valid once/if they get a British banking licence. You can contact Revolut to ask if they will be doing this.
https://www.revolut.com/business/help/more/general/is-revolut-a-bank

Thanks, Isaac
(edited 2 years ago)
Sounds like your giving out false information mate
Original post by Mattew perkins
Sounds like your giving out false information mate

The information is correct.

Our official internal guidance states:

Payments can be made to some UK bank accounts which are provided using a digital platform only. However, students should ensure that their digital platform bank is licensed and registered to complete banking services before updating their bank details with us.

If their bank has been granted a banking license we can make payments to their digital bank account.

Some digital banks provide payment and e-money services only, they are not registered to complete banking services. We cannot make payments to these digital bank accounts.


You can contact Revolut to see if they have a UK Banking licence now, but as far as I'm aware - they still don't, they hold a Lithuanian banking licence.

Revoluts website states they are an e-money institution.

https://www.revolut.com/help/more/brexit/am-i-being-transferred-to-revolut-s-lithuanian-banking-licence?irgwc=1&p=i0&ext=10078_thestudentroom.co.uk&clickid=WuOzClUraxyIRBs3f2zLu1xeUkGUuCWmtXwh2s0&RA&%243p=a_impact_radius&AppInstallRef&ShareId=thestudentroom.co.uk&subID1=6367X1538160Xc06e502fc9a26a590c21b35cd172afd7&subID2&subID3&~campaign_id=9626&~click_id=WuOzClUraxyIRBs3f2zLu1xeUkGUuCWmtXwh2s0&~secondary_publisher=10078_&%24canonical_url=https%3A%2F%2Fwww.revolut.com%2Fbusiness%2Fhelp%2Fmore%2Fgeneral%2Fis-revolut-a-bank%3Firgwc%3D1%26p%3Di0%26ext%3D10078_thestudentroom.co.uk%26clickid%3DWuOzClUraxyIRBs3f2zLu1xeUkGUuCWmtXwh2s0%26RA%3D&_branch_match_id=882337802669814301&utm_source=Impact&utm_medium=paid%20advertising&_branch_referrer=H4sIAAAAAAAAA92RX2uDMBTFP42%2B1WoytR3I6Np1FAplG6V9k2sSNRgTyZ%2FZ9tMvlj3uYc%2BFwDkc7iH53bTWDuZ5PhcuVTqCYYgEl91cXT4Oqt%2BTNH0J0BMeCih5PwCxpQbKnQm%2FWtBsRwvbMmMdZdJqpfqIqMh1oXHVbpMUGc7yc5LiRZLFZxJnLI1RTZaAMkiXMUFJhVNCkxxBTfMwyN8I%2BDt4I0tOi2WGsnsmOOmm4OQOt7U4arhcd5%2BvBtfotnfJhR2796Nbn3p7Hltk4qljGFGSgr6Wg6sENy3TRRLH%2BaIMPY3SvOESROm0KNqJP8CrAG39Gccx0uxbCWc9Su%2BTyhkumTHetkwMXnqlmZeGSaZBeMfN7Lczg1kFsgvwlutmJAHeJAHKBq889oZd7BTdH%2FLX3vzInZZTP%2FZPXN%2F5XPnxCawGISrw23o0MAJSSU4e7Mt%2BAJ1W5iN7AwAA

Thanks, Isaac
(edited 2 years ago)

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