Revolut Megathread.

quokula

Random question. I always top up my revolut account using apple pay which is linked to my BOI debit card. I recently got a BOI credit card and added it to apple pay, and accidentally topped up Revolut by this card shortly after. I'm surprised that it allowed me, and there doesn't seem to have been any charges applied like I would expect if using a credit card to take out cash. Am I missing some catch here? And if not, is there any reason not to do this?

2forjoy

BOI will charge you. Revolut won’t.

dulpit

https://www.boards.ie/discussion/comment/122176187#Comment_122176187

When I top up my Revolut from my bank it's treated by my bank as a normal card payment, so me using my credit or debit card doesn't really matter. Except I need to pay back by credit card before end of month and don't with debit obviously.

G_R

https://www.boards.ie/discussion/comment/122176193#Comment_122176193

BOI don't treat Revolut as cash advance, so they actually won't, once you pay your bill in full!

Bummer1234

Hi All, Sorry I'm a little simple when it comes to banking overall, Whats the difference between Instant access savings and there Flexible Cash Funds?

markpb

https://www.boards.ie/discussion/comment/122176280#Comment_122176280

That’s really surprising.

Hotblack Desiato

https://www.boards.ie/discussion/comment/122176187#Comment_122176187

I always top up from my credit card as it's instant, doing it from my current account takes days. No charges (PTSB)

pureza

https://www.boards.ie/discussion/comment/122176539#Comment_122176539

The instant access savings will be covered to 100k central bank guarantee

The FCF os only covered to 22500

The latter also depends on what the fund makes to generate tge rate where as the former will be directly related to the ecb rate as to decions on rate chanhes

AndrewJRenko

https://www.boards.ie/discussion/comment/122177353#Comment_122177353

More than surprising, it's a bit of a hole in the banking system if they don't treat this as a cash advance.

If you time it right, and withdraw on the day after your credit card bill has been issued, you get 'free money for about seven weeks' before you have to repay it.

Deep Thought

saw Revolut have a 3.49% savings account, but you need to be an Ultra account, this is €55 per month. Is it worth it? The €600 fees could outweigh the interest gained?

Or did I misread the whole thing?

optiplexgx270

https://www.boards.ie/discussion/comment/122178825#Comment_122178825

Metal is 3% and 15.99 a month so no the ultra is not worth it unless you are putting in a min of 96k to break even on the fee difference.

Better off on n26 with 4% on their metal which only needs 18k to break even to the free plan.

Deep Thought

Cheers.. will look at that so

dulpit

https://www.boards.ie/discussion/comment/122178552#Comment_122178552

You could do the same by buying gift cards or prepaid master cards or whatever?

adam88

anyone know how to deactivate cryptocurrencies so that it won’t draw from crypto balances when the main currency accounts are low. There was an option to “deactivate” but it seems to be gone. The online help guys are totally clueless

Mimikyu

https://www.boards.ie/discussion/comment/122091407#Comment_122091407

I did a transfer from my AIB to Revolut this evening (approx 3 hours ago) and just received it into my Revolut account now. I thought the cut off was 4:30 or so and wasn’t expecting it until Monday/Tuesday. How come I received it so quick if it’s just a regular SEPA transfer?

Anytime I transfer to another Irish bank it’s 1/2 days depending on time of day I transfer.

CollyFlower

Why is it only making the news now that Revlout has a Internet savings account? I've had it since February, since I read about it on this thread and I'm getting the 3.45% interest, I'm on the free account.

optiplexgx270

https://www.boards.ie/discussion/comment/122180212#Comment_122180212

Because you misunderstand what product you are using is why. You are using an investment fund not a deposit savings account which is the new product they have.

tv3tg4

Will all balances on the free revolut accounts now get 2% interest?

pureza

https://www.boards.ie/discussion/comment/122180230#Comment_122180230

You need to open a savings account on the revolut app

Transfer between the card account and savings and back will be instant

Expect all RoI banks to charge soon for credit card transfers to Rev

Some already do

This new account means for those whose credit card doesn't charge,you can send your entire card credit limit over to a Rev deposit account for 50 days and be paid daily interest on it,and repay the card with it in time each month,rinse and repeat

Yggr of Asgard

https://www.boards.ie/discussion/comment/122180488#Comment_122180488

Just have enough money elsewhere to cover the bill in case Revolut freezes your account because they think you might have violated their T&C, do money laundering or something else the AI makes up and you sit there for weeks trying to get it freed up.

Collie D

Is there any way to schedule a recurring transfer from one Revolut account to another? Just opened a joint account for the bills and don’t see an option. To be honest I can’t even see the help or contact option any more.

CuriousCucumber

These savings accounts are fantastic. Can finally close my final bricks and mortar account. Only had an AIB account for the savings facility

dulpit

Question: i set up 2 of those investment things they launched a few months back. Are these savings accounts essentially the same, but with more guarantees behind them?

the_amazing_raisin

https://www.boards.ie/discussion/comment/122180625#Comment_122180625

Yes, but it's slightly bizarre

In fact this wasn't working before for joint accounts, but I tried it again today after reading your post and it works for me

Anyway, you need to go into the joint account and get the IBAN. You can then set them up as a payee for transfers

When making a transfer to another Revolut user, there's a calendar button on the bottom left where you can schedule transfers. Works for any kind of transfer, bank transfers or Revolut

This is it

Is it a regular thing that revolut freeze funds? I only use it for monthly spending with a few hundred going in each month but I opened a savings account during the week. With AIB etc I can go to a branch, speak with someone easy enough if there's an issue, presume that's where it gets difficult with revolut?

the_amazing_raisin

https://www.boards.ie/discussion/comment/122180772#Comment_122180772

It's never happened to me

optiplexgx270

https://www.boards.ie/discussion/comment/122180779#Comment_122180779

Same for myself and I get paid into it and use it as day to day and some smaller on hand investment "saving" funds.

Collie D

https://www.boards.ie/discussion/comment/122180762#Comment_122180762

Thanks, yeah does seem a little bit around the houses. I’ve a couple of recurring transfers already to “normal” bank accounts. Will do that anyway - thanks again

the_amazing_raisin

https://www.boards.ie/discussion/comment/122180817#Comment_122180817

What I found was that searching for your joint account doesn't seem to turn up any results, even though Revolut should know it belongs to you

I've wondered if it's to do with the privacy settings, if one person doesn't allow their account to be searchable then maybe it applies to the joint account as well

Yggr of Asgard

https://www.boards.ie/discussion/comment/122180772#Comment_122180772

It really depends on your spending profile and what you do, it's mostly driven by their technology used the difficulty is that the front line chat people are not able to actually do anything or even overwrite clear errors but it has to go to the "escalation team" or the "specialist team".

That is where (unless you are on Ultra) the main drawback of using Revolut is, when something goes wrong you rely on chat (not even phone) and mostly it's unclear who and when they will help you.