Revolut Megathread.

AlmightyCushion · 14-01-2020 2:48pm

Darrio wrote: »

Thank You. I will not be using it to withdraw from an ATM.

Is there a limit per day you can use it for, or if I had enough euro's in it to cover what I expect to spend in Canada that I can just use as normal.

I think there is a daily limit but it's something like 5k or 10k.

Johnny Sausage · 14-01-2020 2:53pm

Creamy Goodness wrote: »

yup sorry I meant to say a UK dealer. Got the hard part (quoting figures) right and the easy part (actually explaining what I wanted to do) wrong ��

still means I'll have to wait 2 days to get the money over to Revolut hmm... kind of annoying but I'll save enough thanks

in fairness to KBC, whenever i transfer to my Revolut from them it usually only takes a few hours

Darrio · 14-01-2020 2:55pm

AlmightyCushion wrote: »

I think there is a daily limit but it's something like 5k or 10k.

Thank you, that limit is fine....lol

Just one other question if I may. As I am not going to Canada until later in the year and I am looking at the currency exchange rate at the moment. If at some point, I notice that the Canadian Dollar has dropped a good bit against the Euro, can I then purchase Canadian Dollars and have it on my card for when I actually go to Canada.

maximoose · 14-01-2020 3:06pm

Yep. Exchange to CAD when you like the rates, you can set up alerts for this, and then just hold the CAD currency until you go over

msmx5 · 14-01-2020 3:10pm

Darrio wrote: »

Thank you, that limit is fine....lol

Just one other question if I may. As I am not going to Canada until later in the year and I am looking at the currency exchange rate at the moment. If at some point, I notice that the Canadian Dollar has dropped a good bit against the Euro, can I then purchase Canadian Dollars and have it on my card for when I actually go to Canada.

Yes, you can hold multiple different currency wallets on your revolut account or just leave everything in euros.

What you describe is possible, I have a balance in USD and GBP as well as Euro on my card and occasionally exchange or add to the USD or GBP balances if I think the rates are good. That way you lock in the "better" rate.

Just remember to always top up your card in your local currency - ie add Euros to Revolut then convert to other currencies within the app (this way you ensure revolut do the currency exchange and give you better rates than your home bank)

Likewise when you are away eg in Canada always ensure you pay in local currency - CAD - don't be tricked if some terminals offer to charge you in Euros or GBP , decline the "offer" - this is called Dynamic Currency Conversion and means the terminal will do the exchange for you (normally at a rate that is much worse than Revolut). This tip isn't specific to Revolut it applies to other Irish debit/credit cards too.

Darrio · 14-01-2020 3:18pm

msmx5 wrote: »

Yes, you can hold multiple different currency wallets on your revolut account or just leave everything in euros.

What you describe is possible, I have a balance in USD and GBP as well as Euro on my card and occasionally exchange or add to the USD or GBP balances if I think the rates are good. That way you lock in the "better" rate.

Just remember to always top up your card in your local currency - ie add Euros to Revolut then convert to other currencies within the app (this way you ensure revolut do the currency exchange and give you better rates than your home bank)

Likewise when you are away eg in Canada always ensure you pay in local currency - CAD - don't be tricked if some terminals offer to charge you in Euros or GBP , decline the "offer" - this is called Dynamic Currency Conversion and means the terminal will do the exchange for you (normally at a rate that is much worse than Revolut). This tip isn't specific to Revolut it applies to other Irish debit/credit cards too.

Excellent !!, Thank You

irishgrover · 14-01-2020 3:34pm

Creamy Goodness wrote: »

Hi all, what would be the best way to buy a big ticket item (£15k) like say a car using revolut, I'm guessing a card swipe is out of the question. Also would have to transfer the money in €5k batches as KBC are luddites with daily transfer limits.

FYI: I've just done this, except it was for more money. Here is what I did. (I'm going for high level of detail in case it helps, if overkill, apologies

1. I had signed up a couple of months ago to the premium service (can't remember what it's called) because I knew I would be buying a car and wanted to avail of fee FX service
2. I set up my revolut account as a payee with my BOI online service
3. I was limited to 10k max per day so had to make 3 seperate payments from BOI to my revolut account
4. In revolut I created a new GBP account
5. When all the money was in my EU revolut account I went into the account, clicked on the exchange button
6. I entered in the GBP amount that I wanted transferred
7. I hit the exchange button
8. Confirmed the money is now in my GBP account
9. From home screen click on payments button
10. On payments button click on the "+" to add a payment
11. Selected the "Bank Accounts" option from the top
12. Clicked on "Add bank account"
13. Selected "To a Business" as the transfer type
14. Entered "United Kingdom" as country
15. Selected "GBP" as currency
16. Clicked "Continue", ented bank account information, as given by car dealership, when finished went back to payments screen
17. Selected the dealership from the list, clicked the "Send" button, entered the amount and clicked "Send" button

Creamy Goodness · 14-01-2020 3:57pm

irishgrover wrote: »

FYI: I've just done this, except it was for more money. Here is what I did. (I'm going for high level of detail in case it helps, if overkill, apologies

1. I had signed up a couple of months ago to the premium service (can't remember what it's called) because I knew I would be buying a car and wanted to avail of fee FX service
2. I set up my revolut account as a payee with my BOI online service
3. I was limited to 10k max per day so had to make 3 seperate payments from BOI to my revolut account
4. In revolut I created a new GBP account
5. When all the money was in my EU revolut account I went into the account, clicked on the exchange button
6. I entered in the GBP amount that I wanted transferred
7. I hit the exchange button
8. Confirmed the money is now in my GBP account
9. From home screen click on payments button
10. On payments button click on the "+" to add a payment
11. Selected the "Bank Accounts" option from the top
12. Clicked on "Add bank account"
13. Selected "To a Business" as the transfer type
14. Entered "United Kingdom" as country
15. Selected "GBP" as currency
16. Clicked "Continue", ented bank account information, as given by car dealership, when finished went back to payments screen
17. Selected the dealership from the list, clicked the "Send" button, entered the amount and clicked "Send" button

Thank you, very informative, I'll have to do the figures on how much the premium account will save.

Ekerot · 15-01-2020 5:26pm

How do I enable auto top up on Revolut?
I'm on the Android App but I can't find an auto top up option when I tried to add money to Revolut from my Bank
I'm on Ulster Bank if it helps

CosmicFool · 15-01-2020 5:30pm

Ekerot wrote: »

How do I enable auto top up on Revolut?
I'm on the Android App but I can't find an auto top up option when I tried to add money to Revolut from my Bank
I'm on Ulster Bank if it helps

On the main screen click on Add money and then on the top right hand corner it will say automate. Click on that.

Ekerot · 15-01-2020 5:35pm

CosmicFool wrote: »

On the main screen click on Add money and then on the top right hand corner it will say automate. Click on that.

I did that though, but it's just black in the top right corner

Encrypted Pigeon · 15-01-2020 7:44pm

Is it possible to add funds to Revolut from a pre paid / employee gift credit card? I have heard people mention before it getting flagged as suspicious but I don't know if that was because it wasn't registered to a name at the time. I kind of understand the irony of topping up a prepaid with another prepaid but the fx handling fee is brutal on the source card.

Dodge · 15-01-2020 7:45pm

Encrypted Pigeon wrote: »

Is it possible to add funds to Revolut from a pre paid / employee gift credit card? I have heard people mention before it getting flagged as suspicious but I don't know if that was because it wasn't registered to a name at the time. I kind of understand the irony of topping up a prepaid with another prepaid but the fx handling fee is brutal on the source card.

You can’t with one 4 all cards. Couldn’t tell you about the rest

Johnny Sausage · 15-01-2020 10:50pm

You can do it on PayPal via a workaround, use the prepaid card to send to someone then get them to send it back then use PayPal to transfer to revolut via bank withdrawal

Marlow · 16-01-2020 1:10pm

Encrypted Pigeon wrote: »

Is it possible to add funds to Revolut from a pre paid / employee gift credit card? I have heard people mention before it getting flagged as suspicious but I don't know if that was because it wasn't registered to a name at the time. I kind of understand the irony of topping up a prepaid with another prepaid but the fx handling fee is brutal on the source card.

Better choice for this may be Curve. Worth a try anyhow.

/M

acalmenvoy · 16-01-2020 8:44pm

Johnny Sausage wrote: »

You can do it on PayPal via a workaround, use the prepaid card to send to someone then get them to send it back then use PayPal to transfer to revolut via bank withdrawal

That worked a treat with a perx reward card.
Nice one thanks.

16-01-2020 8:57pm

irishgrover wrote: »

17. Selected the dealership from the list, clicked the "Send" button, entered the amount and clicked "Send" button

How long did it take to reach the dealerships account out of interest?

Johnny Sausage · 17-01-2020 7:46am

acalmenvoy wrote: »

That worked a treat with a perx reward card.
Nice one thanks.

Aye figured that one out last year, was trying to load it to my revolut before going away and wouldn't work, then just tried PayPal on the off chance and bingo

paddyref · 17-01-2020 11:50pm

Where can I find my bank sort code and IBAN on my Revolut please

Collie D · 18-01-2020 12:00am

paddyref wrote: »

Where can I find my bank sort code and IBAN on my Revolut please

“Details” on the “Accounts” screen

irishgrover · 20-01-2020 12:04am

cisk wrote:

How long did it take to reach the dealerships account out of interest?

I'm afraid I don't know. The guy I was working with was off for a couple odd days so I did not check until the third day, at which point it was there

Johnny Sausage · 20-01-2020 10:21am

cisk wrote: »

How long did it take to reach the dealerships account out of interest?

I just transferred money from my revolut to my Natwest UK account and it was almost instant

21-01-2020 12:54am

Johnny Sausage wrote: »

Lots of prepaid cards don't work with gambling companies

People try use them for it so that transactions to gambling companies aren't on their main account

I’ve topped up and withdrawn from my Paddy power account with Revolut without issue (so far anyway).

awec · 21-01-2020 12:24pm

They don't allow gambling, you might get transactions through on some of them but I wouldn't trust revolut with bookmakers, they have been known to block accounts and ask for gambling receipts for money laundering purposes, and have been known to randomly block withdrawals leaving people's money in limbo.

tv3tg4 · 22-01-2020 9:41pm

Is the public services card accepted to verify account?

Johnny Sausage · 22-01-2020 9:43pm

tv3tg4 wrote: »

Is the public services card accepted to verify account?

Nope

Passport only

BowWow · 22-01-2020 9:43pm

tv3tg4 wrote: »

Is the public services card accepted to verify account?

No. wouldn't accept it for me. Also wouldn't accept Driving Licence.

BowWow · 22-01-2020 9:45pm

Did an interesting exercise last night. Looked at Sterling vs Euro on some cards. A £100 Sterling purchase would cost €120.34 on a BofI Credit Mastercard. It would cost €119.42 on an AIB Debit Card and it would cost €117.66 on the Revolut Card.

-=al=- · 22-01-2020 10:31pm

Yea it’s better 99.9% of the time and that’s without any fees for conversion added, or if from an atm, a charge for that.

I’ve found even atms in the UK that way they’ll charge for the transaction never actually do

I’ve saved 100’s using Revolut over the years

madmoe · 22-01-2020 11:38pm

BowWow wrote: »

Did an interesting exercise last night. Looked at Sterling vs Euro on some cards. A £100 Sterling purchase would cost €120.34 on a BofI Credit Mastercard. It would cost €119.42 on an AIB Debit Card and it would cost €117.66 on the Revolut Card.

So I paid for my Revolut plastic card and I have used it a few times in the UK last year. The OH is asking how Revolut are making their money? Can you guys shed some light on this?

Thanks
M

Revolut Megathread.

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