Important information about ACH and wire transfers

News · October 1, 2024Team Revolut

Revolut US is changing our card issuer and bank partner from Metropolitan Commercial Bank (MCB) to Lead Bank on November 12, 2024 (the ‘Transition Date’). 

As part of this transition, USD and non-USD account details will be changing and there will be an interruption when sending and receiving ACH transfers, US domestic wire transfers, and direct deposits between November 5 and November 12

We’ll provide your new Lead Bank account details in the Revolut app closer to the Transition Date. All transfers on or after November 13 will need to use the new Lead Bank account details.

We apologize for any inconvenience and appreciate your patience during this transition.

What do I need to know?

While we're working to minimize any impact, certain bank transfer processes will be affected between November 1, 2024 and November 13, 2024 as we transition from MCB to Lead Bank. Please see below for more details:

ACH transfers (outgoing)

  • You won't be able to initiate an outgoing ACH transfer or ACH-originated debits between November 5, at 5:00pm Eastern Time (ET) and November 12, at 11:59pm ET
  • Outgoing ACH transfers and ACH-originated debits initiated on or after November 13, will be processed by Lead Bank
  • Any ACH transfers and ACH-originated debits initiated before November 5, at 5:00pm ET will be processed by MCB

ACH transfers and US-domestic wire transfers (incoming)

  • You won't be able to receive incoming ACH and wire transfers to the MCB account details after November 7, at 11:59pm ET. These will be returned and sent back to the sender
  • All incoming ACH and wire transfers will need to use your new Lead Bank account details from November 13

US-domestic wire transfers (outgoing)

  • You won't be able to initiate an outgoing wire transfer between November 7 at 5:00pm ET and November 12, at 11:59pm ET
  • Outgoing wire transfers initiated on or after November 13 will be processed by Lead Bank
  • Any outgoing wire transfers initiated before November 7, at 5:00pm ET will be processed by MCB

Mobile check deposits

  • Mobile Check deposits won't be accepted after October 31, at 11:59pm ET. We'll inform you when we can start accepting check deposits again after the transition

Will you still process my payroll or government benefits? 

Note: Payroll or government benefits applicable to personal Retail accounts only.

  • MCB won't process incoming ACH transfers, including early salary for direct deposit, to your MCB account details after November 7, at 11:59pm ET. You won't be able to receive these transfers between November 7, at 11:59pm ET and November 12 at 11:59pm ET as we transition to Lead Bank. 

  • To continue receiving these transfers on or after November 13, you'll need to update your direct deposit details and use your new Lead Bank account details, which will be provided closer to the Transition Date. You’ll need to provide these details to your employer, payroll department, or update your direct deposit details in your Social Security or VA (Veterans Affairs) account. 

Reminder: Your Lead Bank account details will not be able to accept any incoming transfers before November 13.

Still have questions?

We understand that you may have questions during this transition. If your queries are not answered here, you can reach out to our customer support team through the in-app chat.

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