Anyone come across this yet? Idea is that you pre-load your account and they'll allow you to transfer currency anywhere, with no fees, which they guarantee for the first 12 months. You can get a digital card within the app and, even better, you can order a physical debit card (MasterCard) that you can use for online purchases from abroad, payments abroad or use to withdraw from ATMs. Benefit is that you can withdraw local currency with no charges and the debited amount to your balance is a true reflection of the exchange rate with no fees.
https://revolut.com
I've signed up today after reading about it on boards.is. O have to say, it looks very, very good and the accompanying app is great.
QuoteRevolut currently supports spending, and ATM withdrawals in 90 currencies.
The current list of supported currencies include: AED, ALL, ARS, AUD, AWG, AZN, BBD, BGN, BND, BOB, BRL, BWP, BYR, BZD, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, DOP, EGP, EUR, GBP, HKD, HNL, HRK, HUF, IDR, ILS, INR, ISK, JMD, JPY, KGS, KHR, KRW, KZT, LAK, LKR, MAD, MGA, MKD, MNT, MUR, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, SAR, SBD, SCR, SEK, SGD, SOS, SRD, SVC, SYP, THB, TRY, TTD, TVD, TWD, UAH, USD, UYU, UZS, VEF, VND, XCD, YER, ZAR.
I downloaded the app after reading about it over Christmas looks good. I'd also be interested in seeing if anyone has taken the plunge with it yet
I currently use currency fair to transfer money home How do the rates compare?
I used it last year on a foreign holiday and at home. It's worked really well so far. The only issue was with getting money onto the card. My bank blocked it several times when I tried to add money and it eventually took a formal complaint to sort it out.
I can understand having to verify its a genuine transaction the first few times but not after you have phoned and had them confirm they have put a note on the system. Even then half the time it still didn't allow the transfer.
So if your bank is OK the card seems ok.
For a lot of people on boards, it looks like they use it for buying things from online Xbox.com stores abroad as can make massive savings. Singapore and Colombia appear to be very popular. Dunno if it would work for similar digital purchases - PlayStation, Apple, Google Play etc
Quote from: Boycey on January 16, 2016, 10:53:49 AM
I downloaded the app after reading about it over Christmas looks good. I'd also be interested in seeing if anyone has taken the plunge with it yet
Loaded 150e onto my virtual card this morning. Made a couple of digital purchases online with it this afternoon. Seamless. Looking forward to trying out the physical card.
It would be good if this type of card would put the pressure on the regular banks to cut their charges. That said most people do not know how much their bank is charging, some charge less than others.
Still a good propostion? Think it would be a useful addition in these Brexit fucked currency times
Love it. The rates are what they are but there's no commission.
Excuse my ignorance, I've read a bit on finder.com about them but I take it this is just used as an additional card to play the currency fluctuations? Can you or would it be advisable to use it as 'your' primary bank.
You can get an IBAN so you can get salary etc paid into it.
I don't think it's covered by the deposit scheme though, so for now I can't imagine it would be advisable to use to replace your bank.
It's perfect for traveling or buying stuff in a foreign currency, or what sending people money abroad. A lot of the Erasmus students from the UK over here in Barcelona use it to save them bothering to open a bank here.
I'm using it nearly three years now and love it.
would really recommend it.
£200 or €200 withdrawal in each rolling month, that's the only downside. If you're using it to pay with card then it's hard to beat, have saved a fortune using it
Quote from: take_yer_points on December 07, 2018, 10:42:38 PM
£200 or €200 withdrawal in each rolling month, that's the only downside. If you're using it to pay with card then it's hard to beat, have saved a fortune using it
Highly recommended!!! Serious service for free basically... cuts out the shite of having foreign money left over after your holiday as well.
If they raised the withdrawal amount to 500 even it would be perfect but it's a very small complaint!
I use a Starling card for everything now. These type of accounts are changing the face of banking. Unbelievably simple to set up. Download the app, scan your passport and bingo, your account is open. The card arrives in post a few days later in post. Simple to transfer money onto, or post them a cheque. Spend in any currency and no cash withdrawal charges. You just pay the MasterCard exchange rate on the day. What I like most is when you make a purchase with it your phone app immediately messsges to confirm the transaction and the debit in £ if a € or $ spend.
Quote from: screenexile on December 08, 2018, 07:07:36 PM
Quote from: take_yer_points on December 07, 2018, 10:42:38 PM
£200 or €200 withdrawal in each rolling month, that's the only downside. If you're using it to pay with card then it's hard to beat, have saved a fortune using it
Highly recommended!!! Serious service for free basically... cuts out the shite of having foreign money left over after your holiday as well.
If they raised the withdrawal amount to 500 even it would be perfect but it's a very small complaint!
Do you mean cash withdrawl from an atm. I assume you can transfer money to another account with no limitations?
Monzo is the same. 3 percent fee on cash withdrawal amounts over 200 euro in a rolling 30 day period.
TransferWise is also a good job. Have an app and good exchange rates and basically any currency you want on the card. You also have the option to change spending limits and contactless limits on the card. Fees for transferring Euro to sterling are great also.
Quote from: markl121 on December 09, 2018, 07:54:41 AM
TransferWise is also a good job. Have an app and good exchange rates and basically any currency you want on the card. You also have the option to change spending limits and contactless limits on the card. Fees for transferring Euro to sterling are great also.
That's the thing - Revolut has no fees for exchanging any currency.
Say if I have £50 and €50 in my account, can I use the contactless option North & South of the border without issue / charge?? Does it like automatically know that I would want to use the €€ option in Dundalk??
Quote from: bennydorano on December 10, 2018, 08:55:46 PM
Say if I have £50 and €50 in my account, can I use the contactless option North & South of the border without issue / charge?? Does it like automatically know that I would want to use the €€ option in Dundalk??
I used it in the South last weekend and the girl in the shop asked me if I wanted GBP or Euro transaction
Good stuff, cheers
Always say Euro or whatever the local currency is.
You always pay in the local currency of wherever you are, even if not using Revolut.
With Revolut, they'll bill you the local currency and they'll handle the conversion at their rates.
If you select to get billed in your home currency, you get hit by what's called Dynamic Currency Conversion. The exchange rate here comes from the the payment supplier to whoever the retailer is and they absolutely shaft you.
Quote from: bennydorano on December 10, 2018, 08:55:46 PM
Say if I have £50 and €50 in my account, can I use the contactless option North & South of the border without issue / charge?? Does it like automatically know that I would want to use the €€ option in Dundalk??
Revolut will always first debit a balance of the currency you're buying in.
If you have 50 sterling and 50 euro, and buy something that's 20 euro, it'll debit you 20 euro.
If you have 50 sterling and no euro, and buy something that's 20 euro, it'll debit your sterling balance the equivalent of 20 euros at the applicable rate.
If you have 25 sterling and 25 euro and try to buy something that's 30 euro, the payment will fail at the entire transaction has to be covered from one account, at least for now
Another handy thing I've used Revolut for in the past while is to collect deposits for a hen party. I send each person a request for payment, and they use the link to send me money using their debit card. V handy.
Looking to get one of these cards, a few questions
Can you use it at the any ATM and make daily withdrawals ? i.e take out 200 quid one day and another 200 the next day?
Is the card contactless?
How much can you put on the card at a time?
Does it work in all over? America and everywhere in Europe?
Quote from: Milltown Row2 on June 03, 2019, 10:32:07 AM
Looking to get one of these cards, a few questions
Can you use it at the any ATM and make daily withdrawals ? i.e take out 200 quid one day and another 200 the next day?
Yes, but you pay a few on withdrawals above the monthly limit. The limit is on the amount of cash you can withdraw without fees, not on how much you can withdraw, subject to other restrictions.
Is the card contactless?
Yes
How much can you put on the card at a time?
It varies by to up method. I've transferred five figure sums from a bank account to Revolut.
Does it work in all over? America and everywhere in Europe?
Yes
Quote from: gallsman on June 03, 2019, 11:01:10 AM
Quote from: Milltown Row2 on June 03, 2019, 10:32:07 AM
Looking to get one of these cards, a few questions
Can you use it at the any ATM and make daily withdrawals ? i.e take out 200 quid one day and another 200 the next day?
Yes, but you pay a few on withdrawals above the monthly limit. The limit is on the amount of cash you can withdraw without fees, not on how much you can withdraw, subject to other restrictions.
Is the card contactless?
Yes
How much can you put on the card at a time?
It varies by to up method. I've transferred five figure sums from a bank account to Revolut.
Does it work in all over? America and everywhere in Europe?
Yes
Cheers
Tallymoney are launching a card using gold as it's currency, seems perfect for holidaying and no foreign exchange fees.