Banking entities offer us the option of recurring transfer programs to assume certain types of expenses, such as rent or payment for a service that we have contracted. But do neobanks like N26 or Revolut allow this option? And, if so, how should they be done?
All Bank entities that operate in our country allow us to make transfers to any other entity when we need to make a payment or pay a bill. However, if this payment has to be made frequently, the best solution is to rely on the scheduled transfers to avoid possible oversights that could generate unwanted situations. Although most of us know how to do them from our usual banks, in the case of neobanks like Revolut or N26, certain doubts may arise. Below, we show you how to do it.
Schedule transfers in Revolut
Revolut makes it very easy for us to schedule transfers from our bank account. The only thing we have to do is access our application normally and click on the “Payments” option that we find in the banner below.
Once we access the menu, we have to click on the “+” icon that we will find in the top right of the app and then click on “Bank Recipient”. Next, all we have to do is enter the numbers of the person to whom we want to send the transfer. At this step, we should not be scared. The transfer is not going to happen until the next step, so we are not going to do the transfer if we do not want to do it yet.
Once we have confirmed that all bank details of the recipient are correct, the next step is to define the amount and click on the calendar icon that we will find in the left menu. There we can choose what day we want to schedule the transfer and how often.
At N26
N26, like Revolut, also allows you to schedule transfers in just a few steps. The way to achieve it is very simple. The first thing we have to do is access the application and then press the “Send money” button. In the upper right corner we will have the “+” icon, which we must press to access the following menu. We will click on the button “Wire transfer” that will appear in the dropdown.
The next thing we have to do is enter the IBAN and click on the “Continue” button. In this case, the procedure is somewhat different with respect to Revolut and it is important that we pay attention to the steps to avoid problems.
Once we enter the amount, we should not click on “Continue”. But in the option located just above this button “Save as a scheduled transfer”. On the next screen we can choose the frequency, the start date of the transfer and the last date on which we want to carry out this transfer. This last field is optionally we should only fill it out if it is a payment that has an established end date, such as school fees, for example.
