Revolut Megathread.

When using a card terminal you may be given the option of paying in euros or dollars. Revolut in general advise paying in dollars because this uses their exchange rate, not Vida's which is typically worse

If there isn't enough money in your dollar account then it should automatically convert some euros to cover the shortfall.

However I've noticed on occasion that if you have more than $0 the transaction might fail. So if you have $5 in the US account and pay $10 it might not automatically convert euros the first time

There's also some potential pitfalls with doing an "instant" exchange rather than exchanging money in advance. If you exchange at the weekend they'll charge a 1% fee, and you might not get the best rates

So in general if you're travelling to the US for example, I'd recommend exchanging some currency in advance, just to be safe

Pretty sure they don't mix and match currencies. They'll take $ first if in USA but if not enough in that account they'll draw the total from your € account, not half and half.

That used to be the way anyhow.

Correct, for me it wouldn't exchange from the euro account sometimes even though there was enough there

I have a feeling there was a setting I enabled recently to do that, probably worth poking around the app

True enough, holidays can be a bit lethal because you're making a lot of small transactions and paying the transaction fees every time with another bank

Now I'd say if you spent €1000 on a week away you'd probably be saving €50 by using Revolut to avoid the fees

It's far from nothing, but the €1000 spent on holiday is definitely the bigger impact 😉

And frankly I get annoyed by the idea of paying BOI or AIB or whoever for the privilege of spending my own money

I'm not really seeing how this was any different to a scam on another bank. As far as I can tell from the article there wasn't anything the bank could do to freeze the transactions.

Just because you can go into BOI or AIB doesn't mean you'd get anything more useful. In fact you'd be just as stuck because the bank branches are closed at the weekend

I agree Revolut isn't suitable for everyone, but I don't see how it's any more vulnerable than other banks

I practice a similar idea by living in borderline poverty all the time 😭

Jokes aside, I've never really gotten the idea behind people having tons of cash in their current account. I get the idea of having €100 or so just to cover any purchases when you might not be able to open the app

But I've heard of folks keeping several thousand in their account. Why? Are they suddenly going to decide to buy a MacBook or something

I'll concede in this case the customer was a business who may have different requirements for having cash on hand

I'm still not seeing any evidence from the article that they engaged with Visa or AliExpress to try and get the transactions cancelled. If Revolut couldn't do anything then personally I'd be chasing every avenue I could