Revolut auto top up of joint account

M

murphaph1

Registered User
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295
Hi all,
I'm brand new to Revolut. My wife and I recently opened accounts and a joint account. We want to pay our mortgage and utility bills from this joint account in future. These will be a mix of direct debits and standing orders. Can I set up an auto-top up mechanism here to make sure the money is taken automatically from my third party credit card to my personal Revolut account and on to our joint Revolut account? Is it too risky to use such a mechanism with Revolut to pay the mortgage. Should I just manually do this every month to ensure the funds are available?
 
For me it’s not possible to set up an automatic credit card top-up of my Revolut a/c. I have to do it manually.

Out of curiosity, what is the rationale for such a complicated plan?
 
Yeah that's worth some consideration alright. I would like to know exactly how their account (current account or card?) was compromised though. I can set the card limit to zero for this if it was "only" their Revolut card that was scammed. I don't need the Revolut card to be activated at all really.
 
@murphaph1 I have a joint account with Revolut and it has its own Irish IBAN so there is no reason it cannot be used to pay the mortgage and direct debits. I don't have a card on this account, so I think would be low risk of 'fraud'. To spend money on a card, I move it to my personal Revolut account.

I am not sure Revolut support standing orders - as in scheduled push payments from your account to another account. I have not been able to get it working, so I just do them manually once a month.

I also cannot see how you can make scheduled credit card payments from the app into your account. You can do this manually after registering your card. What I don't know is how the credit card company would classify these transactions and whether they would fall under excluded transactions. For example the Aer Credit Card from BOI has the following excluded transactions listed

“Excluded Transactions” means transactions by Cash Advance or cash equivalents, Balance Transfer, purchases of foreign currency and travellers cheques, foreign exchange and ATM/ Bank charges, fees, interest charges, finance charges, government stamp duty, payments to loan accounts or bank accounts, purchases in excess of limits on the Account, transactions made in operating a business, payments at casinos, betting shops or bookmakers, payments (online or otherwise) to any form of gambling account (including spread betting or share trading) or fraudulent transactions
https://personalbanking.bankofireland.com/app/uploads/Aer-Travel-Rewards-Terms-Conditions-1.pdf
 
Thanks for that info gnf. I'm in Germany so we still have LT IBANs for the moment (allegedly getting DE ones this year) but German banks tend to respect the IBAN rules and won't discriminate. I'm hopeful it will work as it's a very common "hack" here with the Lufthansa cards, which award miles for the transfers to Revolut. Neither Revolut nor Lufthansa (actually the issuer, DKB Bank, which "buys" the miles from Lufthansa and awards them to card holders) allow "manufactured spending", i.e sending money in circles, but as long as the money moves from you to some other entity they are happy enough.

The biggest transactions are 2 mortgage payments and these are DDs. If I have to set a reminder for myself to manually transfer the other stuff I can live with that. Maybe they will add more automation in time too.
 
gnf_ireland said:
@murphaph1

I am not sure Revolut support standing orders - as in scheduled push payments from your account to another account. I have not been able to get it working, so I just do them manually once a month.
Click to expand...
I struggled to find this feature too but it's there. You need to tap on "transactions" then select "upcoming" and then tap "+New", before selecting "schedule transfer" and then "+New" and finall "Bank recipient". As a cheeky workaround I have used the external IBAN of our joint account and have a test scheduled transfer set up to see of it works as a way to automate pushing a set amount from the personal account to the joint account each month. I know give or take a few € how much all our DDs and standing orders are, so I can hopefully set up a recurring transfer from the personal to the joint account this way and then I only need to manually add funds once a month from the credit card to the personal account, ideally the day before the schenduled transfer is due to be executed so the money is not hanging around the (arguably) slightly less secure personal account. The joint account has no cards associated with it. Money can (in theory) only be moved out from within the app by adding a new payee.
 
So the workaround of making a scheduled payment from the personal account to the joint account using the joint account IBAN like any other external account works fine. My test tenner was sent at 8am and arrived instantly on the other side.
 
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