“Revolut Bank UAB” in the sort code: is it safe?
If you enter an IBAN when making a transfer in online banking, the bank code and the bank are often entered automatically. Sometimes you will find the entry “Revolut Bank UAB” here. is this safe
The account number begins with the letters “LT”. This is the country code of Lithuania. Due to the foreign account number in the “SWIFT” code or in the “BIC”, you may wonder whether you are dealing with a dubious recipient.
What is Revolut Bank UAB?
Again and again there are warnings about participants with an account abroad, for example on eBay classifieds. Often scammers are not based in Germany, giving an account number in a foreign country. So tracking is often difficult. However, anyone who has received an account number from “Revolut Bank UAB” don’t have to be skeptical at first. Revolut is a reputable provider that also operates accounts of German users. The financial institution has no branches in Germany based in Lithuania. Accounts can also be created by users in this country. So if you get an account number that starts with “LT” and you want to transfer money to Revolut Bank, this is not a signal that you are dealing with a suspicious user.
Calls or emails from “Revolut Bank UAB”? Beware of scams!
The suffix “UAB” is the Lithuanian counterpart to the German “GmbH”. It stands for “Uždaroji akcinė bendrovė” and denotes a closed joint-stock company. Do you have an account with Revolut Bank yourself? you should be careful if you receive emails or calls on behalf of “Revolut Bank UAB”.. As with PayPal, Amazon or DHL, fraudsters use the well-known name to steal bank details or money.
For example, there are cases of fraud in which users have received an alleged call from Revolut asking them to register with “Apple Pay” again. Customers were persuaded on the phone to pass on sensitive data such as access codes for the alleged registration. With this information, fraudsters were able to gain access to third-party accounts and steal money (source: Stern.de). If you receive calls or emails on behalf of Revolut, be safe in the customer accountwhether a corresponding problem or concern is reported there or, to be on the safe side, contact Revolut customer support yourself. If you suspect fraud, you should also report it to the police.
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