Revolut - Ultracheap FX (prepaid Mastercard)

Molua · 26-08-2015 11:48am

Any idea do cross border fees still apply? I remember BOI telling me that no charges were applied to my prepaid c card when I was in S America last year but I did get stung with cross border handling fees

gerrykiddy · 26-08-2015 12:06pm

It seems that there are no charges within the Euro Zone but always when outside.

Fred Swanson · 26-08-2015 12:31pm

This post has been deleted.

crazyderk · 26-08-2015 1:32pm

I'd love if they brought in other currencies such as the Canadian dollar and Bitcoin.

Block (8 · 26-08-2015 2:35pm

Can someone tell me if while on holidays can one top up from bank? The site says something about a 2 step passcode from your mobile phone not sure what's that for (for registration?), but I may be using a sim card from the country I am going to.
Also can I transfer back whats left over from revolut back to my bank a/c after my holiday?

duffman13 · 26-08-2015 3:35pm

gerrykiddy wrote: »

It seems that there are no charges within the Euro Zone but always when outside.

Fred Swanson wrote: »

This post has been deleted.

I thought that however from there website

Our Multi-currency card is accepted globally at all MasterCard® locations and the card automatically converts into the local currency at the perfect interbank rate so you don't have to worry about it. This means that even if you hold GBP but spend in Thai Bhat the card will convert from GBP to THB at the instant of transaction. There are no ATM fees or other charges at all from Revolut whether you use it at home or abroad and you will always get the perfect interbank exchange rates.

From reading that it would appear that they dont charge the commission or am I being naive?

Molua · 26-08-2015 4:10pm

duffman13 wrote: »

I thought that however from there website

Our Multi-currency card is accepted globally at all MasterCard® locations and the card automatically converts into the local currency at the perfect interbank rate so you don't have to worry about it. This means that even if you hold GBP but spend in Thai Bhat the card will convert from GBP to THB at the instant of transaction. There are no ATM fees or other charges at all from Revolut whether you use it at home or abroad and you will always get the perfect interbank exchange rates.

From reading that it would appear that they dont charge the commission or am I being naive?

This is what I read into it when I saw that statement as well

Rock Paper Scissors · 26-08-2015 6:25pm

I have a Skrill card and a neteller card and just picked up this card a few days ago.

For ATM withdrawls Skrill charge €1.80 per withdrawl. They also charge local ATM fees + FX fees + an annual charge of €10 + there is a charge to top up your account via credit and debit card.

For ATM withdrawls Neteller charge €4 per withdrawl. They also charge local ATM fees + FX fees + there is a charge to top up your account via credit and debit card.

Both of these cards also charge for sending money

This new Revolut card has no charges at all (for the first 12 months anyway)

Just waiting on my physical card to arrive

soirish · 26-08-2015 7:21pm

Who is behing Revolut? On Android it shows 5000+ downloads and 4.0 stars which doesn't convince me to enter my credit card.

irishgeo · 26-08-2015 7:45pm

soirish wrote: »

Who is behing Revolut? On Android it shows 5000+ downloads and 4.0 stars which doesn't convince me to enter my credit card.

https://www.linkedin.com/in/nstoronsky

Irish Halo · 26-08-2015 8:49pm

Block (8 wrote: »

Can someone tell me if while on holidays can one top up from bank?

From their website (can people read?):
"You can top up instantly using your debit card or via a bank transfer. Open the Revolut App and tap 'Top Up' to enter your debit card details. If you want to top up via bank transfer you can find the necessary details by tapping the top menu 'Top up by Card' if you are on iOS or swiping left if you are on Android. You must use your 8-digit reference number if you are topping up via bank transfer for the transaction to be processed. "

Block (8 wrote: »

The site says something about a 2 step passcode from your mobile phone not sure what's that for (for registration?), but I may be using a sim card from the country I am going to.

Your account name/number is your phone number and sometimes to login you need to enter your phone number and they send a text with an access code. If you use a local SIM (unless you have a dual sim or a second phone running your Irish SIM where you can read the SMS) you will be creating a new account.

Block (8 wrote: »

Also can I transfer back whats left over from revolut back to my bank a/c after my holiday?

You can transfer back to your bank but can take a few days, can't find where it says that on their site but here's a tweet saying as much.

Also on who is behind it (again from their site, seriously can no one read?):
"Optimal Payments is a global provider of online and mobile payment processing services to thousands of merchants and millions of consumers. You can read more about their business here. We operate a strict qualifying criteria for all partners and regularly review the service they provide to us on behalf of our customers."

gerrykiddy · 26-08-2015 11:19pm

From reading that it would appear that they dont charge the commission or am I being naive?

That wording says that they, Revolut, do not make any charges. Either Revolut pay the overseas bank for their part in the transaction or the overseas bank will make a charge. That needs clarification. It does seem that transactions within the Eurozone should be free

Molua · 27-08-2015 7:55am

gerrykiddy wrote: »

From reading that it would appear that they dont charge the commission or am I being naive?

That wording says that they, Revolut, do not make any charges. Either Revolut pay the overseas bank for their part in the transaction or the overseas bank will make a charge. That needs clarification. It does seem that transactions within the Eurozone should be free

For what it's worth I received a reply from the company contact to a query on cross border charges yesterday where they said there should be no cross-border fees.

Racket · 27-08-2015 12:39pm

Got the physical card in the post today. Nice and quick, and just in time. Thanks, OP.

Hootanany · 27-08-2015 1:05pm

Got mine aswell

revz · 27-08-2015 2:01pm

Me too. Had an issue with getting the PIN, but got on to support and they had it fixed within a half hour (there was some confusion with it hence the wait)

acalmenvoy · 27-08-2015 2:21pm

Racket wrote: »

Got the physical card in the post today. Nice and quick, and just in time. Thanks, OP.

Same here..Big thanx OP. Trip to UK next week, gonna save £150 to £200 using this.

Lumi · 27-08-2015 2:24pm

A big thanks from me too OP - my card arrived this morning and should save me a tidy sum!

SteelyDanJalapeno · 27-08-2015 2:27pm

acalmenvoy wrote: »

Same here..Big thanx OP. Trip to UK next week, gonna save £150 to £200 using this.

How will you save so much?

flangemeistro · 27-08-2015 2:32pm

TiltedBrain wrote: »

How will you save so much?

Must be lodging around 200k if my calculations are right.

yabadabado · 27-08-2015 2:32pm

The more you spend ,the more you save

SteelyDanJalapeno · 27-08-2015 2:34pm

Don't think I'd trust this with 200k

yabadabado · 27-08-2015 2:37pm

flangemeistro wrote: »

Must be lodging around 200k if my calculations are right.

Would it not be closer to 10k ?

SteelyDanJalapeno · 27-08-2015 2:40pm

There are no limits to topping up and and transferring money with Revolut however we require proof of funds to process large transactions.

Card spending is limited to £30,000 or equivalent per year with a sublimit of £5,000 or equivalent per 96 hours meaning that you cannot exceed £5,000 or equivalent in card spending in a 96 hour period. Cash withdrawals from ATMs are limited to £2,000 or equivalent per day.

acalmenvoy · 27-08-2015 2:44pm

TiltedBrain wrote: »

How will you save so much?

Just checked there, Converting Euro 6000, will save £120, from an post rate.
So not £150 to £200 but still better in my pocket.:o

SteelyDanJalapeno · 27-08-2015 2:45pm

acalmenvoy wrote: »

Just checked there, Converting Euro 6000, will save £120, from an post rate.
So not £150 to £200 but still better in my pocket.:o

Of course!

I didnt realize you'd save so much, I'm also going next month, will save 20-30

SteelyDanJalapeno · 27-08-2015 2:47pm

How do Revolut make money?

"We earn a nominal fee paid to us by merchants every time you use Revolut Card.

We reserve the right to review our pricing structure after the first 12 months of your use of the Revolut service. We do not anticipate any significant changes. Revolut was launched to offer a fair and transparent service. It has been designed to offer the best value and the best user experience. There are no hidden fees to our users."

SteelyDanJalapeno · 27-08-2015 2:48pm

Hmm, I tend not to support these services that pass the charge onto the merchants.

salamanca22 · 27-08-2015 2:53pm

TiltedBrain wrote: »

Hmm, I tend not to support these services that pass the charge onto the merchants.

They are getting a cut of the merchant fees that the merchant will be paying anyway no matter what card is used.

duffman13 · 27-08-2015 2:54pm

TiltedBrain wrote: »

Hmm, I tend not to support these services that pass the charge onto the merchants.

As opposed to ones that pass it on to the consumer? Everytime you use your normal ATM card in a store the seller is charged a nominal fee. In this situation we dont know what the fee is but you would presume/hope that they can be no more than the fees for currently using your card. I know with my terminal, we have never been charged extra for using other cards. I will try this one when I get it and report back.

Tony · 27-08-2015 3:05pm

All credit and debit cards charge merchants for every transaction. My physical card arrived today 4 days after I applied, even got a message on the APP to say it would be coming today.

TiltedBrain wrote: »

Hmm, I tend not to support these services that pass the charge onto the merchants.

Amouar · 27-08-2015 4:03pm

I'm a bit hesitant to use my debit card for this, as I would prefer to use my CC for fraud protection if there was no cash advance fee involved.

Anyone topped their account using a bank transfer? If so how long did it take to get the money on the card?

cartwheel · 27-08-2015 4:08pm

Amouar wrote: »

I'm a bit hesitant to use my debit card for this, as I would prefer to use my CC for fraud protection if there was no cash advance fee involved.

Anyone topped their account using a bank transfer? If so how long did it take to get the money on the card?

I and a few other people on this thread have topped up using credit card and there has been no cash advance fee.
I topped up €20 with credit card, received £5. Exchanged that to €6.86 and then deposited €26.86 to my bank account using IBAN/BIC. Simples.

Lucas Hood · 27-08-2015 4:09pm

Quite impressed with it so far. Bought a few things using PayPal already with it.

Rock Paper Scissors · 27-08-2015 4:35pm

How long were you guys waiting for the physical card to be delivered?

vandriver · 27-08-2015 4:36pm

About 4-5 days.

One More Toy · 27-08-2015 7:03pm

How do you get your PIN for the physical card?

Fred Swanson · 27-08-2015 7:06pm

This post has been deleted.

OU812 · 27-08-2015 7:06pm

One More Toy wrote: »

How do you get your PIN for the physical card?

Press the card icon on the app.

Got my physical card this morning. Snazzy packaging.

Great system they have. Bitcoin would be a huge benefit & perhaps Yen and can/aus dollars, I'm pretty sure more will come in time.

Tony · 27-08-2015 7:07pm

https://revolut.com/faq

"Once your card has been delivered go to the 'Card' section in the Revolut App and tap 'Show my PIN'. Please note, your passcode is NOT your PIN. "

One More Toy wrote: »

How do you get your PIN for the physical card?

Tony · 27-08-2015 9:27pm

OU812 wrote: »

Got my physical card this morning. Snazzy packaging.

Yeah thought that was a nice touch

Racket · 28-08-2015 12:16am

The PIN for my card was accessible from midnight under the "My Card" section, so I guess you have to wait until the day after the apps suggested posted/arrival date to be able to look at your PIN, unless you message their customer service once you get it if you really need access to it that day. Tried customer service myself earlier for PIN access, but they never got back to me to fully sort it out after passing me on to tech.

dwasol · 28-08-2015 6:59am

Envelope arrived. Slice down the side where the card was!!! I'm guessing it's not much use to anyone. I know our postman & he didn't do it but says it goes through so many hands hard to know who took it.

Delta2113 · 28-08-2015 7:21am

Energia and Paddy Power won't accept it online. I used it ok with Electric Ireland.

uck51js9zml2yt · 28-08-2015 7:44am

dwasol wrote: »

Envelope arrived. Slice down the side where the card was!!! I'm guessing it's not much use to anyone. I know our postman & he didn't do it but says it goes through so many hands hard to know who took it.

Report it to them

Amouar · 28-08-2015 9:23am

cartwheel wrote: »

I and a few other people on this thread have topped up using credit card and there has been no cash advance fee.
I topped up €20 with credit card, received £5. Exchanged that to €6.86 and then deposited €26.86 to my bank account using IBAN/BIC. Simples.

I contacted them and they said that they don't accept CC for top ups, so maybe it's just a current glitch in the system, and they disable CC soon.

I sent a bank transfer today as I don't want to use my debit card, I'll let you guys know when the money will be credited to my account.

Irish Halo · 28-08-2015 1:55pm

dwasol wrote: »

Envelope arrived. Slice down the side where the card was!!! I'm guessing it's not much use to anyone. I know our postman & he didn't do it but says it goes through so many hands hard to know who took it.

Menu > My Card > Block Card

Menu > My Card > Reissue Card

Amouar · 28-08-2015 4:23pm

Amouar wrote: »

I contacted them and they said that they don't accept CC for top ups, so maybe it's just a current glitch in the system, and they disable CC soon.

I sent a bank transfer today as I don't want to use my debit card, I'll let you guys know when the money will be credited to my account.

Amaziing! Money received the same day! I will stick to bank transfers from now on since money can reach my revolut account on the same day if the transfer is made before noon.

Hootanany · 28-08-2015 6:43pm

Is this a wireless card?

Red Silurian · 28-08-2015 8:07pm

Hootanany wrote: »

Is this a wireless card?

Yes, there are no wires needed for this card

It's not contactless though

Revolut - Ultracheap FX (prepaid Mastercard)

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