Wise/Revolut/Starling?

Could anyone give me their opinion/advice on which is the ideal one to use to have a UK state pension paid into? - @karenselsea

Revolut is now a licensed bank, so savings of 120k are protected, whereas Wise isn't. Do you have a Cyprus bank account?

I have a Wise account and had the same for some 9 years. However all my Pensions go to NatWest Jersey. I defenitly am not enamoured with Revolut but then it is my opinion.

Wise has a UK Office and very easy to speak to or they even call back for free. I have never had any problems with them.

Thank you and no just trying to gather information about my UK pension and where is the best place to have it paid into? I’m hoping to move over with an Irish passport so opening a Cypriot bank account may not be required o gather it’s not straightforward?

@karenselsea

Hi,

I'm in a similar situation to you. I have an Irish passport and both Revolut and Starling accounts.  A lawyer that assisted with a property purchase suggested that I open a Cyprus bank account although she did say it isn't absolutely necessary.

Due to delays with the handover of the property, I've already been to Cyprus a couple of times this year and on these visits I primarily used Revolut for everyday purchases and didn't have any issues.  So I decided to try that for when I go back permanently in two weeks and see how that goes.  It should also allow me to provide statements, if necessary.  There is obviously a currency transfer limit on the basic Revolut account, so I was intending on also using Sterling as a secondary account and possibly for some euro transfers to Revolut.

Kevin

Thank you Kevin appreciate the information. I’ve heard good/bad things about both. Am hoping to come over in Oct to get advice on immigration etc. We think we’ll probably use Revolut in the end with regard to my pension.

Hope things work out for you?

Wise and Atlantic bank are both owned by The Bank of Belgium

Wise has.a card and varied costs on money transfers to banks or to the card

Atlantic Bank - is transfers between banks

I have used it to transfer money to wise /Revolut / UK bank / EU banks - if not in a rush a set fee of £3 is charged

higher if you require and instant payment

Apparently UK government pension people will send money direct to European banks free and do use a favourable exchange rate. I have not heard of anyone who has done this so it might be just a rumour.

Always best to have a Cypriot bank if moving over as the authorities seem to like that better and it is a requirement of immigration if you are third country national.

I have money paid into my UK bank and then transfer out using Revolut. Rates are always good and then I transfer to Euro Bank. It is all instant.

Exchange rates on goverment pension transfer payments are based on monthly government exchange rates - sometimes it’s better than commercial banks

Google

trade-tariff.service.gov.uk

exchange_rates/monthly

I’m hoping to come over as an EU passport so not sure if I will need to open a bank account as part of the immigration service? Can I get my UK pension paid into a Wise or Revolut account then?