I feel like currency fair might be better for that, you can do a large currency transaction in one go and the rates are usually decent enough
I think if money is sent to a Euro IBAN it'll be automatically converted to Euros, might be better to send it to a GBP IBAN and then convert it in chunks to avoid the fees?
Yeah, I already had a GBP subaccount and saw that the IBAN is the same as for the EUR account.
However just had a look there and the GB subaccount also has a "LOCAL" account option which appears to be a UK sort code. I've asked my brother to do a small transfer to check it out. Thanks for the heads up.
The trouble is a lot of UK banks will flag transfers from UK banks to the Revolut UK details as fraudulent. I've had relatives where the transfer is blocked or they had to call the bank to confirm the payment was genuine
I use Revolut to transfer & exchange a UK pension monthly. I transfer in sterling from a UK bank to the Revolut GBP Local account number & to date I have not experienced any problems. The sums involved would be small in comparison to the amount the OP wishes to transfer.
Prior to Revolut I used Currencyfair.
Yes, I anticipate having to prove the source of funds above 10k. That should not be a show stopper.
I doubt that I can split this transfer in to smaller amounts to avoid this, that will be in the hands of the fund manager.
Thanks Gooser14 for confirming that this route works for sterling transfers.
Has anyone had any experience renting cars with their Revolut debit card? On the price comparison sites, most seem to require a credit card, but when you dig in to the Ts&Cs of the companies themselves there seems to be some wiggle room if a hold can be placed on the card or you purchase excess cover from the rental company. I'm pretty sure my card (Visa Infinite, debit) can have a hold put on it, as I bought fuel via a pre-authorised payment once, but will that do for car hire?
It could possibly (and technically should) work but online booking systems might have an issue with it. If you can call the rental company or arrange it at the rental desk it might be ok.
You would probably have to keep a reasonable amount in the Revolut account to cover any issue with holds just in case, if it's a rental in the states it might be trickier, I pretty much use a CC for any hotel/rentals there to avoid any hassle. Rental companies obvs want a cc in case anything happens
The chances of success are not very high when you have to start arguing with someone at a sales desk that your debit card is the same as everyone else's credit card, even if you can tell them someone else from the internet did it. Yes it be able to persuade someone to try it and it might work, but if renting a car is an important part of your trip, then you need a more reliable plan B. At the very least call them and find out, get the name of the person you spoke to and even ask if they will be around when you intend to pick up the car.
I've rented a car with a Revolut card once. They just placed a hold on the card for a few hundred.
Could you perhaps tell us the agency, so the questioner might be able to use them?
I believe enterprise will charge a €500 deposit if paying by debit card in Ireland
Part of the problem is the policy can vary around by country, so even if it works in Ireland it might not work for the same agency in another country
Hertz in the USA
Some rental operations are franchises so even if you say it was Hertz, it will still depend on the local company doing the rental. But the bigger the name, the more likely it is that you will not need a large hold on a card. I've rented several times from Europcar in Lanzarote, last time the excess was about 800 but they only held 300 on my credit card. And they never bat an eyelid when I decline their insurance. Being a repeat customer probably helps.
Some of the cowboys insists on such a huge hold that you effectively have no choice but to buy their rip-off insurance. Which is why you often see long queues at their desks in the airport, it's because the guy at the front of the queue is trying to talk his way out of buying the rental company's insurance.
My partner tried to get revolut Credit card - his pay is close to 5k net per month with our mortgage of 1k per month. I get about 3.5k net per month and no dependants - application rejected. He has a history of loans and credit cards - always paid on time and in full .. so I'm not sure what to think ... I see there is some centra bank credit rating issue going on so wonder if that has something to do with it ...
The central bank doesn't credit rate people
The CCR provides data (monthly data on loans, credit cards etc), and banks are free to score based on that, but that is entirely on them.
There is no central bank credit score or rating.
There is an article in the Independent :
https://www.independent.ie/business/central-bank-admits-data-breach-may-have-hurt-credit-ratings-of-more-than-20000-borrowers/a666521272.html
I had my application and card processed within in about 2 weeks. Moved the balance from another card I had too and there was no issues.
Would only affect a person if they had poor credit history in those 3 additional retained months of data which you have said does not apply as payments were always ontime. So it is unlikely that that is the reason. Besides their credit cards only go up to 10k which isn't much use for the larger impulse purchases.
Revolut's credit application processes are a bit murky.
They rejected me for a loan in the past even though I would easily get a loan for two or three times the amount from any bank without question.
Agreed I got offered a low enough credit limit despite being in pretty good financial shape in terms of income and mortgage numbers. Didn't proceed for the moment, will keep existing card at BOI and maybe try again in a few months.
Have to say they have really streamlined the application process, legacy banks would have a lengthy application form. Revolut has about 4-5 questions.
The Central Bank does keep data on everyone's loan performance, but it doesn't rate people. Just keeps the data.
From their own website:
The Central Credit Register does not:
- decide if a loan is approved or not – the lender makes that decision
- calculate a credit score on credit reports
Not sure if that is a good or bad thing?!
I know I tried to apply for a BOI a few years back and I reckon the application is still open! They rang me on two occasions asking me what type of card I was looking for... I gave up and went with An Post Money.
I think the streamlining of the application process may contribute to why their approvals / rejections are a bit odd at times.
Like I'm fairly certain the reason they won't approve any loans from me is that their approval process asks questions about your monthly salary, and then it tries to automatically verify it in my linked account. But I don't get paid monthly, and so if you looked at my income per calendar month it would be different every time, and I'm betting their automation just can't cope with that.
Recently I got an email from a service provider that they're going to stop accepting Revolut cards entirely and I'm going to need to register a different card
Since I don't have any different cards, and I'm not prepared to get one, then I'm going to have to stop using that service
I'm wondering if there's any value in referring the case to the CCPC? I've emailed the service provider back telling them I'll be unable to use their service and asking them to reconsider their decision, but I doubt they will just because I asked nicely
That’s really odd, how do they even know it’s a Revolut card? Surely they only see if it’s Visa or Mastercard? What’s the service?
The first 6 numbers of a card is the BIN (Bank Identifier Number)
We Charge by Volkswagen, it's a service for charging an EV
They bill an invoice at the end of the month, I'm guessing a bunch of people had payments declined because they didn't have enough money
What's the service provider?
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Sounds like they need to be billing credit cards, not debit. You should certainly let CCPC know, and let Revolut know.
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