Minimizing costs using Revolut + Goldmoney

Dear Goldmoney Community,

as I am waiting for my holding to be verified I thought I'd theorize a bit on how to minimize costs when funding and withdrawing the holding.

1st funding the holding would be easy, just use a bank wire or direct bank transfer for free. One could use a Revolut account for this for example and do a direct SEPA transfer. Or just simply use a normal bank account.

2nd though withdrawing money from the holding usually costs quite a bit. 15€ for a wire transfer for example. The only free option in Europe would be a UK BACS transfer in pounds. I am wondering if I could use my Revolut account for this as well? After all when checking this site (https://www.sortcodes.co.uk) it says the Revolut sort code and account can receive BACS payments.

I am wondering, has anyone else tried doing this, has anyone else withdrawn or funded money using a Revolut account? Or do you have another way as to minimize costs?

Best Answers

  • CaptainSandyCaptainSandy Posts: 7 Tin ✭
    Accepted Answer
    Sooo I've finally gotten my account verified after around 8 weeks, that's the good news. The bad news is that one can't transfer money back from Goldmoney to Revolut. I've just received notice that i'ts not possible because Goldmoney doesn't see Revolut as a legitimate bank. So yeah bit of a bummer!

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