USD T212 to USD Revolut process

🤝 Help
1

Hi! I couldn’t find up-to-date information on this topic or any conclusions in existing topics.

Typically I move my local currency (EUR) to my USD T212 using my bank, N26, which uses Wise for the currency conversion. However, I cannot transfer money out of my USD T212 account and back to my bank as they only accept EUR. Instead I was thinking to send USD from T212 to my USD Revolut account.

When I attempt to transfer USD from Revolut to T212 in order to make it available as a withdrawal option in T212, I see two options:

  • Share fees: ~$3.50 - Recipient may get less due to potential bank fees.
  • Pay all fees: ~$34.50 - Recipient gets the full amount. you pay extra to cover all potential bank fees.

I am not sure which to select. Has anybody successfully taken this approach?

2

Have you considered an actual Wise account, rather than an account that uses Wise for conversion but can’t accept payments in other currencies you require?

3

That could be a solution. I was hoping to solve this issue using the banking tools I have now, in order to keep it simple and not get involved with another financial services provider. Ill look into it, thanks!

4

When you transfer USD, there is an intermediary bank fee, typically about $25 regardless of the amount you transfer. So it is worth it if you are transferring a good lump sum, not small amounts.

The two options are almost the same, but I would use the first option and pay $3.50, hoping the intermediary fee will be less than $31.