We have updated our Business terms to ensure that we treat any NOK payment to your ‘LT’ IBAN from a payer with a local bank account (i.e. the sender’s bank is also in Norway) as a “local transfer” for the purpose of your free allowance, and you will only be charged “local transfer” fees where you exceed that allowance. You will not be charged any additional fees by Revolut as a result of this change. We will continue to treat any payments to your ‘LT’ IBAN that are genuine local transfers (from within Norway) as “local transfers”. Only payments from payers using bank accounts outside Norway will be treated as “international transfers”. You can find our updated Business terms here, and our updated fees page here for more information.
Please note that if you are receiving a payment, the bank making the payment, or other banks in the chain, may charge additional fees for transferring to an ‘LT’ IBAN. We explain how third parties might sometimes take their fees from the payment you’re receiving in our Business terms. Any fees, and the time it takes for you to receive a payment, will depend on the currency, sending location, and other banks involved. Unfortunately, Revolut has no visibility of control over fees charged by other banks but we will always send you the full amount we receive from another bank for each payment you receive if you haven’t exceeded your free allowance. If you have exceeded your free allowance and are receiving a payment, we’ll deduct our fee from the incoming amount.
Bank transfers made to the LT IBAN may take 1 to 3 working days to appear in your Revolut account.