Spending

The Ultimate Guide To Withdrawing From Revolut

How To Withdraw From Revolut

Last updated on June 6th, 2021

You have some money in your Revolut account, but are not sure how to withdraw your funds?

You’ve come to the right place!

Here’s all you need to know about withdrawing your money from Revolut:

How to withdraw from Revolut

Here are 2 ways that you can withdraw funds from your Revolut account:

  1. Withdrawing to a bank account
  2. Withdrawing from an ATM

How to withdraw from Revolut to bank account

These are the steps to withdraw your funds from Revolut to a bank account:

  1. Go to ‘Send’ on your dashboard
  2. Select ‘Bank Account’
  3. Enter the bank account details
  4. Enter the recipient’s address
  5. Select the amount you wish to transfer
  6. Receive the money in your bank account

#1 Go to ‘Send’ on your dashboard

You will need to go to the ‘Send‘ function on your Revolut app dashboard.

How To Withdraw From Revolut Send Money

#2 Select ‘Bank Account’

You will be brought to the ‘Send’ page, where you can send money to your contacts who have a Revolut wallet too.

How To Withdraw From Revolut Friends

You’ll need to go to the ‘Bank Account‘ tab and add a bank account instead.

How To Withdraw From Revolut Bank Account

#3 Enter the bank account details

You will need to enter the details of the bank account you wish to transfer to.

How To Withdraw From Revolut Account Details

The most important details include:

  1. Account number
  2. BIC/SWIFT code
  3. First and middle names

Here are some of the SWIFT codes of common banks in Singapore:

BankSwift Code
DBS / POSBDBSSSGSG
OCBCOCBCSGSG
UOBUOVBSGSG
Standard CharteredSCBLSG22

You may wonder why DBS and POSB have the same SWIFT code. This is because they are actually the same bank!

#4 Enter the recipient’s address

You’ll need to enter the details of the recipient’s address into the app as well.

How To Withdraw From Revolut Address

This could be due to certain regulations set out by the MAS.

You’ll need to enter the recipient’s address and postal code.

#5 Select the amount you wish to transfer

You’ll need to select the amount you wish to transfer to the bank account.

How To Withdraw From Revolut Select Withdrawal Amount

In this page, you can see the fees you’ll incur for your bank transfer. Revolut does not disclose the fees when you are transferring to a bank account on their site.

We’ll let you know in the Revolut app if any charges apply, before you make the transfer.

However, there does not seem to be any fees charged for a withdrawal to a Singaporean bank account!

#6 Receive the money in your bank account

You can review the details of the transfer before you confirm the transaction.

How To Withdraw From Revolut Review Transfer

Once you’ve confirmed it, Revolut mentions that it will take around a day for the transfer to go through.

However, it took 2 working days before my amount was credited into my bank!

How To Withdraw From Revolut Bank Credit

You are not charged any fees for withdrawing SGD from your Revolut card. This is much better compared to other multi-currency cards out there!

CardWithdrawal Fees
RevolutNone
BigPay$1
YouTripUnable to withdraw
MCO Visa CardUnable to withdraw

Revolut may seem to be the best card to use if you perform a lot of overseas transactions!

Can you withdraw money from an ATM with Revolut?

You are able to perform an ATM withdrawal with your Revolut card at international ATMs. However, you are unable to use your Revolut card to make a withdrawal in Singapore.

You can use your Revolut card to make an ATM withdrawal.

Revolut Card

However, this can only be done at international ATMs! This is similar to other multi-currency cards too.

The reason why you can’t make any local ATM withdrawals could be due to MAS regulations.

For ATM withdrawals, you are able to withdraw up to SGD$350 worth of foreign currency for free.

If you withdraw any amount that exceeds SGD$350, you will incur a 2% fee for the amount that you withdraw!

Here is how Revolut’s overseas ATM withdrawals compare with the other cards:

CardLimitWithdrawal Fee
BigPay$2,500 daily2% per withdrawal
YouTrip$5,000 daily$5 per withdrawal
MCO Visa Card$500 – $2,000
depending on tier
2% fee after limit ($200 –
$2,000 depending on tier)
Revolut$30,000 (monthly)2% after SGD$350

It seems that Revolut has really attractive fees compared to the other multi-currency cards!

Conclusion

The Revolut card and wallet allows you to withdraw your money from your mobile wallet to your bank account.

It does not charge a fee to withdraw it to a Singaporean bank account, which makes it really attractive.

However, it may take a while before your funds are transferred!

You are also able to make ATM withdrawals. These can only be done overseas and not in Singapore.

Nevertheless, Revolut still provides really reasonable rates for overseas withdrawals!


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