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Revolut ATM charges

  • 30-04-2021 10:22am
    #1
    Registered Users Posts: 364 ✭✭


    I know it’s not much in the grand scheme of things, but I was wondering if anyone could could shed some light on this. When I go to use my Revolut ATM card in any of the major banks, I am charged anything from €1.50 to €3 for a €20 withdrawal. I am allowed €200 a month free withdrawal with the Revolut account that I have. I contacted Revolut support and they confirmed that I have free €200 withdrawals but that banks can add there own charge. AIB wanted €1.95 and one of the cash machines in the local applegreen wanted €2.95 for a €20 withdrawal. Kind of negates the free withdrawals. Anyone know why the banks would charge up to 15% for an ATM transaction ?


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Comments

  • Registered Users Posts: 9,761 ✭✭✭Effects


    Possibly because they don't want a foreign bank to be competing against their lesser service, and want to make it less appealing for you.


  • Registered Users Posts: 24,647 ✭✭✭✭punisher5112


    Stay away from the ones I shops, currency exchange type ones and the euro ones seen all over the place with no bank name on them.


  • Registered Users Posts: 12,072 ✭✭✭✭Calahonda52


    Why should Irish banks allow non resident competition free load on their infrastructure, or in AIB case
    Why should Irish taxpayer allow non resident competition free load on their infrastructure
    .

    “I can’t pay my staff or mortgage with instagram likes”.



  • Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 66,499 Mod ✭✭✭✭L1011


    Its entirely normal to be charged for using an off-network ATM; the Irish banks are on the same network as each other so that doesn't happen.


  • Registered Users Posts: 7,265 ✭✭✭RangeR


    Is there a similar charge for cashback when making a retail purchase? Would this be a cheaper option for you?


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  • Registered Users Posts: 1,178 ✭✭✭SourSessions


    RangeR wrote:
    Is there a similar charge for cashback when making a retail purchase? Would this be a cheaper option for you?

    Can't get cashback with revolut.

    In saying that, I've never once been charged more than the 12c stamp duty for taking money out of my revolut card.


  • Registered Users Posts: 364 ✭✭alanbk


    Can't get cashback with revolut.

    In saying that, I've never once been charged more than the 12c stamp duty for taking money out of my revolut card.


    That’s what I find so strange. No matter what bank I use here in Ireland the charge for the ATM withdrawal is outrageous.


  • Registered Users Posts: 364 ✭✭alanbk


    Why should Irish banks allow non resident competition free load on their infrastructure, or in AIB case
    Why should Irish taxpayer allow non resident competition free load on their infrastructure
    .


    Because if I’m abroad and use my AIB atm card I’m not charged by the issuing bank. Quid pro quo and all that.


  • Registered Users Posts: 1,966 ✭✭✭Smee_Again


    alanbk wrote: »
    Because if I’m abroad and use my AIB atm card I’m not charged by the issuing bank. Quid pro quo and all that.

    Do Revolut offer free ATM withdrawls to AIB customers on Revolut's ATM network?


  • Registered Users Posts: 14,164 ✭✭✭✭ednwireland


    Smee_Again wrote: »
    Do Revolut offer free ATM withdrawls to AIB customers on Revolut's ATM network?

    funny how people are prepared to defend irelands inefficient overpriced banks

    pretty sure i only got charged the stamp duty on mine when i tried it but then i never use them for cash just load them up and avoid the irish banks transaction fees


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  • Moderators, Technology & Internet Moderators, Regional South East Moderators Posts: 28,422 Mod ✭✭✭✭Cabaal


    funny how people are prepared to defend irelands inefficient overpriced banks

    To be fair Revolut isn't a proper bank license wise so not really right to compare it to an actual bank.

    It'll never pay out the money to build an ATM network, for all its faults at least AIB did


  • Registered Users Posts: 1,966 ✭✭✭Smee_Again


    funny how people are prepared to defend irelands inefficient overpriced banks

    pretty sure i only got charged the stamp duty on mine when i tried it but then i never use them for cash just load them up and avoid the irish banks transaction fees

    I'm not defending them, but there's no quid pro quo if Revolut don't have an ATM network for AIB customers to use.


  • Registered Users Posts: 18,770 ✭✭✭✭Del2005


    alanbk wrote: »
    Because if I’m abroad and use my AIB atm card I’m not charged by the issuing bank. Quid pro quo and all that.

    If you are in the UK it's hard to find a free ATM and any that are have it in big writing that they are free. In some of their more deprived areas there's no free ATMs only pay

    It's an issue with all cards as you'd be charged the same money using an AIB card in an ATM in a convenient location, the machine owners set the charge not the bank.


  • Registered Users Posts: 12,072 ✭✭✭✭Calahonda52


    alanbk wrote: »
    Because if I’m abroad and use my AIB atm card I’m not charged by the issuing bank. Quid pro quo and all that.
    AIB is the issuing bank for your card
    The abroad bank has its own atm network, R/lute is a parasite

    “I can’t pay my staff or mortgage with instagram likes”.



  • Registered Users Posts: 364 ✭✭alanbk


    AIB is the issuing bank for your card
    The abroad bank has its own atm network, R/lute is a parasite

    Revolut is deadly more like. Absolutely shook up the whole banking sector in Ireland and elsewhere.


  • Registered Users Posts: 507 ✭✭✭Sinus pain


    Make sure you are taking it out in local currency. My card is a stg card - if I take money out and don’t say local currency (only in some atm’s) I get charged an exchange rate - happens to me on PayPal too sometimes


  • Registered Users Posts: 6,159 ✭✭✭Ubbquittious


    What is so great about Revolut anyway? You don't have to pay 4 quid a month to own your account? If you're charged 2 quid for taking 20e from an ATM I fail to see the point in switching over. Yet people wax lyrical about it the whole time


  • Registered Users Posts: 24,647 ✭✭✭✭punisher5112


    What is so great about Revolut anyway? You don't have to pay 4 quid a month to own your account? If you're charged 2 quid for taking 20e from an ATM I fail to see the point in switching over. Yet people wax lyrical about it the whole time

    Instant transaction, you can limit your spending, the app is very easy to use and you can well worked better before Brexit but you got the best exchange rate going.


  • Registered Users Posts: 14,322 ✭✭✭✭jimmycrackcorm


    What is so great about Revolut anyway? You don't have to pay 4 quid a month to own your account? If you're charged 2 quid for taking 20e from an ATM I fail to see the point in switching over. Yet people wax lyrical about it the whole time


    It's a bit ridiculous to use it just to take cash out of an atm. First and foremost it's core value is in currency exchange. Try using your Irish bank card for sterling purchases and weep both at the exchange rate and foreign currency charge.

    The ease of sending money to friends instantly is great.

    That's before being able to use one time virtual cards so you can do subscriptions online without bothering to have to cancel after a free trial

    But the biggie for me is the significant profits I show from dabbling in both stocks and crypto that it has made so easy.

    I couldn't care less about taking cash out of an ATM. The last time I went to the UK for a weekend break in used the card to pay for everything and didn't need to take it any cash at all.


  • Registered Users Posts: 726 ✭✭✭athlone573


    These ATM's where you were charged, were they at an AIB/BoI active branch?

    I think it's more likely they were at one of the non-branch ATM's (including ones at closed former branches) that have been sold off recently, to companies such as Euronet.


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  • Registered Users Posts: 788 ✭✭✭markmoto


    alanbk wrote: »
    I know it’s not much in the grand scheme of things, but I was wondering if anyone could could shed some light on this. When I go to use my Revolut ATM card in any of the major banks, I am charged anything from €1.50 to €3 for a €20 withdrawal. I am allowed €200 a month free withdrawal with the Revolut account that I have. I contacted Revolut support and they confirmed that I have free €200 withdrawals but that banks can add there own charge. AIB wanted €1.95 and one of the cash machines in the local applegreen wanted €2.95 for a €20 withdrawal. Kind of negates the free withdrawals. Anyone know why the banks would charge up to 15% for an ATM transaction ?

    If a financial company like revolut conducts banking operations without licensing in your own country I would be very very cautious of using them.
    In case something goes wrong you can say goodbye to your money.

    Read reviews many people for one or another reason already lost a substantial amount of money.
    https://www.reviews.io/company-reviews/store/revolut
    https://ie.trustpilot.com/review/www.revolut.com?stars=1

    And reviews of people who actually worked for this company.
    https://www.glassdoor.ie/Reviews/Revolut-Reviews-E1176471.htm


  • Registered Users Posts: 5,598 ✭✭✭The J Stands for Jay


    What is so great about Revolut anyway? You don't have to pay 4 quid a month to own your account? If you're charged 2 quid for taking 20e from an ATM I fail to see the point in switching over. Yet people wax lyrical about it the whole time

    If you're dealing in cash, what's the need to involve a bank/fintech?


  • Registered Users Posts: 364 ✭✭alanbk


    athlone573 wrote: »
    These ATM's where you were charged, were they at an AIB/BoI active branch?

    I think it's more likely they were at one of the non-branch ATM's (including ones at closed former branches) that have been sold off recently, to companies such as Euronet.


    That’s the thing. I was being charged in BOI and AIB. I think it’s actually something amiss on my account.


  • Registered Users Posts: 4,275 ✭✭✭km991148


    alanbk wrote: »
    That’s the thing. I was being charged in BOI and AIB. I think it’s actually something amiss on my account.

    Is your revolut account Irish? Is the card Irish?

    If the ATM recognises it as foreign, you get the choice to use the bank or the local system. Local will always be more expensive over letting revolut handle.

    I guess what I'm trying to do is narrow down what the charge is actually for. ATM fee, currency, bank fee etc


  • Registered Users Posts: 364 ✭✭alanbk


    km991148 wrote: »
    Is your revolut account Irish? Is the card Irish?

    If the ATM recognises it as foreign, you get the choice to use the bank or the local system. Local will always be more expensive over letting revolut handle.

    I guess what I'm trying to do is narrow down what the charge is actually for. ATM fee, currency, bank fee etc


    Thanks for that. The card is Irish. I’ve mostly euro in the account with a little stg. The account holder and card is registered in Ireland. I’m going to try my wife’s card in AIB later and see if she has the same issue.


  • Registered Users Posts: 4,275 ✭✭✭km991148


    alanbk wrote: »
    Thanks for that. The card is Irish. I’ve mostly euro in the account with a little stg. The account holder and card is registered in Ireland. I’m going to try my wife’s card in AIB later and see if she has the same issue.

    Are they definitely ATMs run by the people you think they are?

    Sometimes AIB etc sell them or no longer control them, but since of the old colour or branding remain.

    Ping rev support and ask them?
    I'm curious now lol


  • Registered Users Posts: 4,275 ✭✭✭km991148


    The abroad bank has its own atm network, R/lute is a parasite

    Revolut are fine for consumer banking and no doubt pay the same network access fees as other banks (if that's what you mean by parasites).

    The only gripe I would have with them is they apparently treat staff like crap. Ethically that's might be a bit dodgy, but their banking model isn't causing AIB harm. AIB etc were not innovating for years and happy to overcharge etc until the new crop of fintech companies came along.


  • Registered Users Posts: 6,159 ✭✭✭Ubbquittious


    McGaggs wrote: »
    If you're dealing in cash, what's the need to involve a bank/fintech?


    I still need to be able to accept iban transfers, I still buy stuff online. For real life stuff I tend to use cash if I can. Tried to open a Degiro account for the stock market stuff but still need to send them a ball of paperwork.


    I'd say for me Revolut offers no real advantages. A few suppliers I buy off in the States accept payment in Euro and brexit brought down the Kibosh on buying anything big from UK


  • Registered Users Posts: 1,516 ✭✭✭Gooser14


    Are you certain that your card is Irish? I've checked mine on a bin checker web site (bindb.com) & it comes up as GB. You may have done this already.


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  • Registered Users Posts: 4,275 ✭✭✭km991148


    I still need to be able to accept iban transfers, I still buy stuff online. For real life stuff I tend to use cash if I can. Tried to open a Degiro account for the stock market stuff but still need to send them a ball of paperwork.


    I'd say for me Revolut offers no real advantages. A few suppliers I buy off in the States accept payment in Euro and brexit brought down the Kibosh on buying anything big from UK

    Don't think you need to explain why you use a given product :pac:


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