Standing Instruction for Local Account Details Service (Business)
By requesting Local Account Details and providing your Local Account Details to any third party, you (the Business) appoints Revolut as your agent and instruct Revolut as follows:
- (Instruction): The Business instructs Revolut to effect the transfer of any money paid using the Local Account Details, in the currency it is paid in, to the corresponding currency pocket of its Revolut Business Account held in Australia.
The Business agrees and acknowledges that:
- Revolut is appointed as its agent for the purposes of receiving money via the Local Account Details on its behalf and giving effect to the Instruction.
- Revolut will give effect to the Instruction after money is paid to the Business using the Local Account Details.
- Revolut may determine any order or priority of payment of any money paid to the Business using the Local Account Details.
- While Revolut will endeavour to effect the Instruction, Revolut shall not be liable for any delay or failure to make the payment due to delays arising out of or related to circumstances outside of its reasonable control.
- The Instruction may only be revoked by the Business terminating the relevant Local Account Details. It is understood that the Business may terminate the Local Account Details by using the Revolut Business Web portal or App. Revolut will continue to act in accordance with the Instruction until the Local Account Details are terminated.
- Revolut may terminate the Instruction as to future transactions at any time by providing notice in writing to the Business. This notice may be delivered via the chat function in the Revolut Business app.
Revolut agrees to follow the Instruction in its capacity as agent for the Business on the terms and conditions set out below. The Business agrees that in using the Local Account Details service and providing its Local Account Details to a third party, it has read, understood and agreed to the matters set out in this document.
This Standing Instruction document and the Local Account Details service are subject to the Local Account Details Terms the Business Terms.
In this Standing Instruction, Local Account Details means any unique non-AUD currency account details provided to the Business by Revolut as “Local Account Details” under the Local Account Details Terms.