TIN at Revolut

[andponomarev]

Hi,

I've got two TINs (European and Non-European). Currently residing in EU, but I haven't provided my European TIN to Revolut as of yet. It keeps asking me for it, and I've got just month left. What if I don't provide it? I've just skipped by choosing the corresponding option, but I wonder how it's gonna look in Revolut report to tax authorities. Will it be somehow suspicious? The spend is really low, like 2K/mo or less. Thanks for the feedback.

 

[Sols]

Yes, it'll be viewed as suspicious. If you don't provide TIN, they will probably close your account.

Best case, they don't close your account, and simply report you to every jurisdiction connected to you (citizenship, residence, IP address, phone number, and jurisdictions you transact a lot with/use your Revolut cards in). But from what I know about Revolut, it's more likely they'll just close the account.

Either close or restrict it, until you provide TIN.

 

[andponomarev]

Yes, it'll be viewed as suspicious. If you don't provide TIN, they will probably close your account.

Best case, they don't close your account, and simply report you to every jurisdiction connected to you (citizenship, residence, IP address, phone number, and jurisdictions you transact a lot with/use your Revolut cards in). But from what I know about Revolut, it's more likely they'll just close the account.

Either close or restrict it, until you provide TIN.

Thanks you very much for the feedback. Well, unfortunately I wouldn't like to provide my TIN for obvious reasons. So that's why I'm asking if there are any possible workarounds in my case (low spend, etc.). But I also wonder whether Revolut reports to authorities account owners who do not have TINs.

 

[Sols]

So that's why I'm asking if there are any possible workarounds in my case (low spend, etc.). But I also wonder whether Revolut reports to authorities account owners who do not have TINs.

They report all accounts. They are required to by law. If they don't have a TIN, they basically have two choices: terminate the relationship or report based on what information they do have (the data points I mentioned before).

There are no exceptions in CRS based on amount or anything like that. It's safe to assume that all accounts are always and automatically reported.

If you have two TINs, you can try providing one for the country you don't live in. That's probably a crime (tax evasion) and there's a risk you'll get caught later. But it's a trick some people use and as long as your account is overall low profile, it might go undetected.

 

[Forester]

Agreeing with all that @Sols has written; and one more amendment/explanation: Be advised that Revolut currently possesses banking licence in the EU. Hence, they are obliged to see and service EU residents in the same manner as is any ordinary bank like SoGe or Raiffeisen or...

 

[Cloudbanck]

They say that they will block incoming transfers if a TIN isnt provided on the deadline date, so I dont think the account will be closed down.

I have this situation that I reside in zero tax country A, and I entered country A as my tax residency in Revolut. Revolut then kept auto-requesting me to a add tax residency. I thought it was a bug and contacted support, support said that I have to enter either the country where I opened the account B or my passport country C as tax residency. I told support, look I dont live in either B or C. And they responded I still have to enter B or C.

 

[Forester]

They say that they will block incoming transfers if a TIN isnt provided on the deadline date, so I dont think the account will be closed down.

Well, the behaviour of Revolut is IMO not much predictable (see below) but I guess that there will be a difference between Revolut EMI and Revolut bank (they operate both modes depending on location). I think that with a banking licence they are forced to work more or less similarly as traditional banks (and there it is pretty clear how it should be – report all continuously and in a case of no-cooperation close and report). Having said that I must also say that the above stated is apparently not enforced perfectly; I witnessed the case when certain law enforcement institution in a certain EU country was aware that person X has an account with one traditional bank but was not aware that the same person has also an account with Revolut bank.

I have this situation that I reside in zero tax country A, and I entered country A as my tax residency in Revolut. Revolut then kept auto-requesting me to a add tax residency. I thought it was a bug and contacted support, support said that I have to enter either the country where I opened the account B or my passport country C as tax residency. I told support, look I dont live in either B or C. And they responded I still have to enter B or C.

ROTFL. But this is not surprising for me. (My general attitude to Revolut/Wise is quite known here, I guess; if someone wonders, look e.g. here If Wise is going to close accounts and is not the best, how diversify the money?.)
In this particular case, probably they simply were not supporting country A?

 

[Cloudbanck]

Well, the behaviour of Revolut is IMO not much predictable (see below) but I guess that there will be a difference between Revolut EMI and Revolut bank (they operate both modes depending on location). I think that with a banking licence they are forced to work more or less similarly as traditional banks (and there it is pretty clear how it should be – report all continuously and in a case of no-cooperation close and report). Having said that I must also say that the above stated is apparently not enforced perfectly; I witnessed the case when certain law enforcement institution in a certain EU country was aware that person X has an account with one traditional bank but was not aware that the same person has also an account with Revolut bank.


ROTFL. But this is not surprising for me. (My general attitude to Revolut/Wise is quite known here, I guess; if someone wonders, look e.g. here If Wise is going to close accounts and is not the best, how diversify the money?.)
In this particular case, probably they simply were not supporting country A?

I mean A is on their menu, and can be picked, but yeah I guess it's not entirely supported. Then I also spend a lot of time in African country D which isnt on their menu at all.

I have this theory that if you are an EU citizen and opened a Revolut account in an EU country, they are quite lenient with if you go and live in an odd/unsupported country. Most people come back, and they dont want to lose clients. Also traditional banks in the EU/UK often accept that their clients go and live in odd countries - I have a few traditional bank accounts where my address is listed in country D without any problems.

But anyway, I guess Ill put tax residency in country B or C for Revolut. They'll report to country B or C, and then country B or C will see that I havent lived there in over 20 years, have no assets or anything there, and then I guess probably nothing will happen. Worst case the country reports back to Revolut, and then there is a risk the account will be closed down.

 

[Xshore]

It seems normal to me that they want a TIN for the country of the address on the account, why do you expect them to accept a foreign TIN in another country than the one you tell them that you live in?
Is it possible to change the address on the account to your country A?

 

[Lord Palmerstone]

I also have received 38,283 (only a slight exaggeration) messages to provide my TIN.
Am a Brit, but departed UK and reside (and have done for almost 30 years) in a non tax country.
But my wife is a an EU citizen (silly girl still believes in the grand project and that UVDL is a well meaning lady) and when I joined REVOLUT, I used my EU address to receive the card.
However, and I have had communication with them, they (REVOLUT) insist that I must have residence in the EU for them to continue the service.
I explained to them that I have a wife, 3 properties and some land in that EU country (therefore I do pay some taxes), but officially I am NOT a (Tax) resident moreover the 'useless donuts' in the Immigration Service rejected (as is UVDL's will) my application for Residence after the BREXIT withdrawal (if ever there was a spiteful vendetta, there it is). REVOLUT said they would have to terminate my service, to which I replied more or less 'ok you do what you have to, as I am NOT a resident in a tax paying country'.
So the Ali Baba politicians have screwed everything by insisting to all Banking and Financial companies to reveal our private details, when it is Mr. Johnson's and Mr. Cameron's families, to name but two big political beasts, that were found to have Bank A/Cs in Panama, and exposed by the Panama Papers. THEY ARE THE REAL CROOKS! I hate the present corrupt bunch of Western politicians!

 

[Xshore]

You're wasting your energy fighting the banking rules. You can't have an account with them if you don't provide a residency address and TIN a supported country.

 

[Forester]

It seems normal to me that they want a TIN for the country of the address on the account, why do you expect them to accept a foreign TIN in another country than the one you tell them that you live in?
Is it possible to change the address on the account to your country A?

Read this:

I have this situation that I reside in zero tax country A, and I entered country A as my tax residency in Revolut. Revolut then kept auto-requesting me to a add tax residency. I thought it was a bug and contacted support, support said that I have to enter either the country where I opened the account B or my passport country C as tax residency. I told support, look I dont live in either B or C. And they responded I still have to enter B or C.

@Cloudbanck told them that he lives in the country A; and the country A was possible to pick as the residency address ....

traditional banks in the EU/UK often accept that their clients go and live in odd countries - I have a few traditional bank accounts where my address is listed in country D without any problems.

Yes, I can confirm this...

You're wasting your energy fighting the banking rules.

Well, I guess that usually it is a waste of energy to open an account with Revolut at all

(Seriously, in the vast majority of cases /if not always/, you can go for some other neobank/EMI that is more predictable...)

 

[andponomarev]

It seems normal to me that they want a TIN for the country of the address on the account, why do you expect them to accept a foreign TIN in another country than the one you tell them that you live in?
Is it possible to change the address on the account to your country A?

Unfortunately not. I created this account long time ago, and my primary country / TIN is Russia. It's banned in Revolut now. I've got the residence permit in the European country, and right now I'm thinking of how to properly work with this. I can of course provide them my European TIN, but I would really like to avoid the reporting stuff somehow.

 

[JohnLocke]

They keep e-mailing me about the account to be closed and I have to provide the TIN, that almost for 5 years. I have not used them at any time nor have I money in the account. Because you were asking in your OP I tried to login, the account is blocked until I provide the TIN which I for obvious reasons won't do.

 

[Cloudbanck]

You are Danish right? That means your TIN number for Denmark is your CPR-number which is in the Danish passport which I assume you gave to Revolut when you signed up (unless you used a different passport of course). So technically Revolut already has your TIN number , at least for Denmark.

 

[JohnLocke]

True, but I don't live or an resident in DK and haven't for years so that's why they require the TIN - otherwise you are right the CPR number is in the passport and they have it on record.

Have the same with a Danish bank asking for the TIN because I left Denmark, they closed the account until I provide the TIN.

 

[NativeLogos]

They say that they will block incoming transfers if a TIN isnt provided on the deadline date, so I dont think the account will be closed down.

I have this situation that I reside in zero tax country A, and I entered country A as my tax residency in Revolut. Revolut then kept auto-requesting me to a add tax residency. I thought it was a bug and contacted support, support said that I have to enter either the country where I opened the account B or my passport country C as tax residency. I told support, look I dont live in either B or C. And they responded I still have to enter B or C.

Your tax-free country of residence doesn't have anything that can be used as a TIN? I know Vanuatu introduced a TIN in 2020 even though it's a zero-tax country to help people who had issues opening bank accounts outside the country. Here, a drivers license number doubles as a TIN if you need to provide one, but there's a couple of other ways as well.

 

[Cloudbanck]

Yeah, but it doesnt help, I can fill it in, but Revolut still requires a TIN from high tax countries B or C.

 

[JohnLocke]

Unfortunately not. I created this account long time ago, and my primary country / TIN is Russia. It's banned in Revolut now. I've got the residence permit in the European country, and right now I'm thinking of how to properly work with this. I can of course provide them my European TIN, but I would really like to avoid the reporting stuff somehow.

did you provided them with the TIN ? After all you may have faced that you don't get the account in operation if you don't provide the TIN!

 

[Marshal]

did you provided them with the TIN ? After all you may have faced that you don't get the account in operation if you don't provide the TIN!

I suppose Revolut will simply restrict his account from receiving any new payments/transfers, but he will still have access to his funds (will be able to withdraw/transfer money and use his debit card).