Revolut - Ultracheap FX (prepaid Mastercard)

Irish Halo

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

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

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

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

Hootanany

Got mine aswell

revz

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

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

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

SteelyDanJalapeno

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

TiltedBrain wrote: »

How will you save so much?

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

yabadabado

The more you spend ,the more you save

SteelyDanJalapeno

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

yabadabado

flangemeistro wrote: »

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

Would it not be closer to 10k ?

SteelyDanJalapeno

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

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

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

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

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

salamanca22

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

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

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

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

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

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

Rock Paper Scissors

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

vandriver

About 4-5 days.

One More Toy

How do you get your PIN for the physical card?

Fred Swanson

This post has been deleted.

OU812

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

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?