Revolut - Ultracheap FX (prepaid Mastercard)

-=al=-

Wow that is particularly bad! Basically 1 to 1 exchange rate so you don’t want to go ahead with the conversion, you wana let Revolut do it for the actual rate which is around €1.13 for £1.

From what I can tell the ATM has your card for Sterling for the currency, so Revolut is converting your € to £, then the ATM is converting the £ to € at their awful rate.

Clicking continue without conversion will let Revolut convert it for you which will give you the proper rate

Yggr of Asgard

-=al=- wrote: »

Wow that is particularly bad! Basically 1 to 1 exchange rate so you don’t want to go ahead with the conversion, you wana let Revolut do it for the actual rate which is around €1.13 for £1.

From what I can tell the ATM has your card for Sterling for the currency, so Revolut is converting your € to £, then the ATM is converting the £ to € at their awful rate.

Clicking continue without conversion will let Revolut convert it for you which will give you the proper rate

If the "continue without conversion" is clicked there is no conversion anywhere when revolut is used. There is no need for any conversion.

Euronet requests 20€ and revolut approved 20€ from your € wallet even if the ATM thinks the card is in £. Revolut won't do any conversions like you say above, they just take 20€ from your € wallet. You get 20€ and they take 20€. Simples.

The problem is that the ATM reads the currency of the card as £ and hence offers dynamic currency conversion. The same will happen if you put any non € card in there.

If you take out € and you have € in your revolut wallet it's easy. If you do not have € because, for example, all your funds are in £ than revolut would do the conversion from € to £ at their own rate if you "continue without conversion".

And if you choose to take the offered conversion than you will not only pay Euronet but also again revolut will convert it back to € to take it, so your 20€ will in the end possibly cost you right now 22.71€ plus 12 cent tax.

-=al=-

That’s the ticket!

368100

Looking through revolut charges, POS is 0.5% above interbank rates up to €6000 per month. ATM withdrawals (which is what is want it for) only allows free withdrawals up to €200 a month. After that its 2% on the amount with no limit. Comparable fee with main banks is 3.5% but capped at around €11. Not sure revolut would be worth it for me. Better suited to purely POS or transfers.

Dardania

Mr.S wrote: »

Looks like Apple or Android Pay is about to get announced soon.

I’d wager it’s Android Pay first.

Relevant tweet: https://twitter.com/RevolutApp/status/1008655682663575552
I'd agree that Android pay is more likely  - it seems to be easier to achieve than Apple Pay? Do Google take less skim on top, so less contentious?

TheChizler

Mr.S wrote: »

Looks like Apple or Android Pay is about to get announced soon.

I’d wager it’s Android Pay first.

2 weeks after I gave up waiting and opened an N26 account...

Aquos76

Well here’s what’s included in their latest beta software

Aquos76

webpal

One of the things I like on this is that I can go into each transaction and attach a photograph of the receipt. Has anyone used this facility in a situation where a receipt was required, say to return something? (I'm a bit of a receipt hoarder)

TheChizler

webpal wrote: »

One of the things I like on this is that I can go into each transaction and attach a photograph of the receipt. Has anyone used this facility in a situation where a receipt was required, say to return something? (I'm a bit of a receipt hoarder)

Yes for submitting expenses at work but the resolution of the receipt on the resulting pdf it generates is s**t.

Snake Plisken

Got an offer of a free physical card from them and I have two questions
1) will I have to pay the €30 card tax if I get a physical card.
2) Will it use the same number as my virtual card or issue me a different number? Also I don't want it to change my current vertual lcard that I have set up for Netflix etc.

TheChizler

The €30 is stamp duty not tax and only applicable to credit cards. The Revolut debit card is subject to 12c stamp duty per ATM withdrawal up to a maximum of €5 per year.

J_A_F_A

Snake Plisken wrote: »

Got an offer of a free physical card from them and I have two questions
1) will I have to pay the €30 card tax if I get a physical card.
2) Will it use the same number as my virtual card or issue me a different number? Also I don't want it to change my current vertual lcard that I have set up for Netflix etc.

It'll be a different number. Your virtual card will still work.

Dardania

Mr.S wrote: »

TheChizler wrote: »

2 weeks after I gave up waiting and opened an N26 account...

They've confirmed it's just Android Pay launching in the next week or two, no ApplePay for now.

I think that's the biggest problem with Revolut, they announce all these features as "coming soon" and its months and months.

Is this your source?:

https://community.revolut.com/t/does-revolut-card-support-android-pay/18794/57

Mightn't be "bankable". Would be great to see nevertheless.

Do any smartwatches support android or google pay?

tv3tg4

Has anyone had any issues using the card on the bus eireann website?

I can't seem to get it to work

Yggr of Asgard

tv3tg4 wrote: »

Has anyone had any issues using the card on the bus eireann website?

I can't seem to get it to work

Bus Eireann interprets the card as UK and it does not accept foreign cards.

Yggr of Asgard

Dardania wrote: »

Is this your source?:

https://community.revolut.com/t/does-revolut-card-support-android-pay/18794/57

Mightn't be "bankable". Would be great to see nevertheless.

Do any smartwatches support android or google pay?

Revolut will enable Gpay shortly for card issued to German customers (as evident by the display of revolut in the german help section) but that does not mean that they also enable Ireland/UK, especially as those countries help sections don't mention them.

Remember Revolut has specific cards that you can only get if you have a german address (like the maestro card for example).

Dodge

Yggr of Asgard wrote: »

Bus Eireann interprets the card as UK and it does not accept foreign cards.

How stupid is this btw? Not allowing tourists buy tickets online...

Yggr of Asgard

Dodge wrote: »

Yggr of Asgard wrote: »

Bus Eireann interprets the card as UK and it does not accept foreign cards.

How stupid is this btw? Not allowing tourists buy tickets online...

It might also be against EU regulations. Something that one should look into.

keredern

Hi all, heading to Cambodia next week (Phnom Penh & Siem Reap areasand was wondering if anyone has used their Revolut out there?

If so, were there any issues?

Any tips for use are very welcome!!

Also, though not relevant to this thread, I know there are a lot of very financially astute Boardsies here, so I'll ask anyway!!

Where is the best place to obtain Dollars (US) in cash, i.e. cheapest financial institution - CU, bank, etc.?

I know I can use Revolut where accepted as POS but I will need to have some cash too.

Many thanks for any kind assistance anyone can offer!

JohnCleary

keredern wrote: »

Hi all, heading to Cambodia next week (Phnom Penh & Siem Reap areasand was wondering if anyone has used their Revolut out there?

If so, were there any issues?

Any tips for use are very welcome!!

Also, though not relevant to this thread, I know there are a lot of very financially astute Boardsies here, so I'll ask anyway!!

Where is the best place to obtain Dollars (US) in cash, i.e. cheapest financial institution - CU, bank, etc.?

I know I can use Revolut where accepted as POS but I will need to have some cash too.

Many thanks for any kind assistance anyone can offer!

You won't be using POS in Cambodia.... it's very much a cash country.

keredern

JohnCleary wrote: »

You won't be using POS in Cambodia.... it's very much a cash country.

Ah, thanks for that!

carrotcake

You can get USD from ATMs in Cambodia using your Revolut card.

keredern

carrotcake wrote: »

You can get USD from ATMs in Cambodia using your Revolut card.

Thanks, I knew that , but I think it's a bit pricey after the first €200?

Just wanted to have cash for those times where there's no technology available!

Any more advice very welcome!

Dardania

keredern wrote: »

carrotcake wrote: »

You can get USD from ATMs in Cambodia using your Revolut card.

Thanks, I knew that , but I think it's a bit pricey after the first €200?

Just wanted to have cash for those times where there's no technology available!

Any more advice very welcome!

If you’re going to spend more than €4800 there it would be worthwhile to sign up to premium I think to increase the ATM limit. And with the overseas medical insurance maybe you can reduce costs elsewhere

carrotcake

keredern wrote: »

carrotcake wrote: »

You can get USD from ATMs in Cambodia using your Revolut card.

Thanks, I knew that , but I think it's a bit pricey after the first €200?

Just wanted to have cash for those times where there's no technology available!

Any more advice very welcome!

There’s a 2% fee after you withdraw $200. Check the exchange rates at the banks etc in Ireland to see how that compares. I see that An Post currently gives you $1.13 for €1, while Revolut gives you $1.15. Take 2% off that, and there’s not much of a difference.

keredern

carrotcake wrote: »

There’s a 2% fee after you withdraw $200. Check the exchange rates at the banks etc in Ireland to see how that compares. I see that An Post currently gives you $1.13 for €1, while Revolut gives you $1.15. Take 2% off that, and there’s not much of a difference.

Thanks Carrotcake...that's brilliant!

I don't really want to have much cash on me but was concerned the ATM Revolut option might be pricey.

However, your post confirms that the ATM is a good source for funds!

Many thanks again!

-=al=-

€200 will go a long way over there and the Revolut fee beats the exchange rate and fee you might get charged. You can still use your card over there and use it for when you can for accommodation and touristy stuff.

Been a long time since I was there and had no issues then. Would be no prob with Revolut over there nowadays for sure

Inspector Coptoor

Just back from a 25 day trip and using the Revolut card made everything so easy and wasn’t ripped off by my bank for non euro transaction fees.

I used the Revolut card in Dubai, Singapore and Australia in those currencies and was able to use the card in Bali at POS for lunches, dinners etc even tho there is no IDR currency on Revolut, it just used the euro in my account and converted to Ruppiah.

Without doubt, the best banking and financial app/card I’ve I’ve ever used.

I had used the card/app a lot in the UK prior to this trip but it’s gone up so much in my estimation as it’s truly a Worldwide entity now.

carrotcake

Just wasted half an hour at a Tesco in Hungary because my card payment was rejected, yet appeared to be successful (pending) in Revolut. After a couple more attempts there were three entries on my Revolut statement for the same amount.

Their English was as good as my Hungarian, but we managed to communicate via a mixture of simple German and Google Translate. In the end they said they’d contact their bank to make sure all the transactions are cancelled, I paid with my AIB card and went on my way.

I was just about to write to Revolut support when a message appeared in the chat to say that they are having problems with card payments at the moment, and all funds from affected payments will be returned.

It would have been handy if they had made this information a bit more accessible, before spending so much time in the shop trying to sort it out.