Before I started using Curve more than Revolut I used to top up my Revolut card with my Ulster Bank credit card all the time. I even withdrew some top ups from the ATM once or twice. I was never charged any additional fees by Ulster Bank.
Seems very strange to me! If this is true, there is a bit of a hole in the financial network - a source of free money!
Let's say you have €5k credit available on your AIB CC. You could transfer €5k to Revolut on day 1 of your CC billing period, and do whatever you like with that money for three and a half weeks, once you transfer it back to AIB before your next month statement is generated on the last day of your billing period. You could use it to buy prize bonds or put it into an interest bearing account - whatever you like really, once you'll have it back by the end of the month.
My AIB card doesn't treat transfers to Revolut as cash advances.
Well, I am on another level.
I am availing of their 0.5% cashback on credit card spending. I doubt there are any other better ways to earn money. Enlighten me if there is!
Cash Back Awards:
Spend over €5,000 (and up to €50,000) in any 12 month period from your account opening date, we will give you 0.5% of that amount back (maximum award for each 12 month period is €225)
Apologies in advance if this has been answered elsewhere. I am relatively new to Revolut not that big a user. Main use is for transferring money to my kids.
Sometimes use it to pay their rent. Transferring money from my day to day bank into Revolut never a problem. But every time I try to send any more than 200 it says 'Sorry an unknown error occurred. Please try again later '
After that I sometimes manage to get another small transaction processed before it stops absolutely anything at all.
Guessing that it is some kind of security setting.
Very frustrating. If it is my settings how do I change it?
I had forgotten about the cashback, that makes it even worse from AIB's point of view.
You could bump up your 'spending' by moving the same €500 from AIB to Revolut and back for a few days, and earn your 0.5%, up to the annual cap of course.
KBC credit card also marks the top up as a regular purchase.
I've been using it over the last few years to maximise the 10 euro max monthly cashback.
I basically do all of my spending from revolut using the float (interest free period) on the KBC credit card without paying a single cent in interest.
Have we discovered a hole in the financial time/ space continuum here? Banks are normally very sharp about stopping anything like this.
I thought KBC stopped that. Does it still work?
KBC treat it as a normal purchase. I used to top up my Revolut to avail of the €10 cashback and then pay it off before the end of the month. Haven't paid a cent in interest (touch wood!!).
So having a credit card has actually earnt me €90 a year! €10 cashback x 12 months = €120 - €30 stamp duty.
Just checked. Still works!
I'd like to know as well.Which ones? Not like a CC company to miss a trick like that,passing up charging a fee on cash transfer.I don't think having your cc a/c in credit would evade a cash transfer charge.I wouldn't want to test it.I have put my cc a/c in credit before but never used it to transfer cash to another account.
This post is answer to masterboy123 of 01-05-22
It works for me consistently!
Ulster Bank credit cards are the same, a purchase.
Is there any way to turn off 'Refer A Friend' notifications without losing potentially important notifications also?
Like most legacy banks in this country, their systems are too crappy to distinguish a purchase from a Revolut top up (that is essentially a cash advance).
Works with (transfer)Wise as well, and also qualifies for cashback rewards (which are a joke in Ireland tbh, a few quid a month).
Shhh don't mention it, before they catch in..
I can confirm that Avant card treat a Revolut top up as a cash advance.
How does this new fintech Bunq compares to Revolut?
Will you be opening up an account with Bunq?
To describe Bunq (a bank in operation since 2012) as a new fintech is funny.
Unfortunately, they no longer offer free banking (well besides a nice saving account that gives you 0.09% interest).
If you can live with constant "social" features in your banking app and don't mind paying a monthly fee, you will get a decent bank with SEPA instant (in/out), a reliable debit card and decent customer support.
They used to have a Travel Card option which was a prepaid card coded as Credit card so that you could use it easy for those vendors which insist on credit card (car rental for example) but like most free products is now all pay:
Compare plans | bunq
And the big advantage is that since today you can also get Irish IBAN's (for a onetime fee) and stop the non-irish IBAN dance.
Ok, it's a ten-year-old fintech. Revolut is a seven-year-old fintech. And?
The difference is that Bunq has been a bank (with banking standards) from the start while Revolut is just now making the migration (and finally stopping operating as e-money in the EU in June).
Do both have bricks-and-mortar branches I can drop in to? No.
Are both fairly recently created organisations, using technology disruptively, operating almost solely online, selling financial products and services? Yes.
They're both fintech companies. (Banks can be fintech companies!)
New Terms starting 08 July coming which seem to change the cost of international money transfers drastically. However Premium plans will get a signficant discount.
What about EU transfers?
SEPA and local currency still free.
T&C on the website have been updated: https://www.revolut.com/en-IE/legal/fees
0.3%, minimum 30c, maximum €30 for payments UK accounts by the looks of things.
One of their biggest selling points (for free users like me) gone so. I’ve used it to pay £1 parking in the UK and it’d grate to pay a 30c charge on that…
The fee free international transfer was a primary reason for my continued use of Revolut. Mostly with payments to UK, the application of fees will limit my use. I've been on the free tier since the beginning with them. These fees will only go one-way and there'll be a levelling out to a minimum difference between them and regular banks.
Is it just transfers? Or is standard payments too?
Trying to understand if I'm going to be charged for using my Revolut in shops in NI?
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