Having looked at the SEPA standards and my transfers to PTSB I see something that explains the whole problem. The end2end id is mandatory in SEPA as seen here:
"Note that the End-To-End-ID must not be longer than 35 characters. When no ID is needed, the SEPA standard provides the constant "NOTPROVIDED" that needs to be used. The SEPA End-To-End-ID must not be empty!"
So AIB are expecting the reference entered in revolut to be in this field I.e. your card number but they are receiving NOTPROVIDED which you can see below in PTSB transaction.
What PTSB get:
My test transaction just got refunded so looks like this is still a problem
I've been told not to use it abroad as there's massive charges so I ain't using it abroad
One of the major benefits of Revolut is that it is cheaper to use it abroad as opposed to other banks. There are certainly no massive charges for foreign transactions on Revolut, it's all fairly transparent.
You might want to read the list of fees instead of just believing what that guy in the pub said 😉
I think the charges that probably catch people out most are ATM fees and exchange fees at weekends
Probably the best approach is to convert enough currency on a weekday before you leave. Always use the local currency when paying with your card, not in euros (unless you're in the eurozone obviously, they probably don't take Lira in Italy anymore 🤪)
Would that explain why the transfers used to work from the LT iban and only started failing when they switched to the IE iban?
And where abroad have you been told there is 'Massive' charges?
My friend went to England and got loads of charges that's what I was told ,no point on people having a go at Me like
Thank you I'll defo look into that for sure ,I tried the post office currency card and that was $3.50 a charge every time I took out money
I've also heard someone say their friend got rid of their EV because their electric bill went up ....
Ohhhhhhhhhhhhhhhhhhhhh k
Anecdotal information here is next to useless. Even more so if it comes from someone else who we have no reason to trust.
Only if before the iban change they used to send the end2end correctly unfortunately ptsb doesn't go back over a year to check.
Nobody's having a go at you, just pointing out the factual inaccuracy and complete uselessness of your contribution. If you take it personally, that's on you.
I'm not in a good place mentally so I apologise then but there is charges if you use it abroad and depends what plan your on as well so
yes, there are charges if you withdraw above your monthly atm limit, there are no foreign transaction or exchange fees so unless your friend took out a grand a day from an atm they are talking pony.
The charges for using Revolut abroad are a tiny fraction of the banks' charges. Unless you were using the card to withdraw cash at ATMs?
I'm sorry for your issues, but to clarify the charges to be aware of when travelling are the currency exchange charges and ATM withdrawals
Revolut will only charge for currency exchange if you exceed you plan limit (€1,000 for the standard plan) or at the weekend
The ATM charges kick in above €200 or 5 withdrawals, or the local currency equivalent. Above this a fee of the higher of €1 or 2% will be applied per withdrawal
Best practice is to exchange roughly enough currency to cover your trip on a weekday. If it looks like you'll go above the exchange limit then you can upgrade the plan, but the charge is 1% or €1 on every €100 you exchange, so maybe just suck up the charges
You could even plan further ahead and exchange currency the month before travelling to let the limit reset
When using your card abroad, pay in the local currency and try to ensure you've enough in that currency to cover the expense. If you pay in euros then the card provider can apply an additional charge (I'm betting this is where your friend got caught)
If you need to withdraw cash over the €200 limit then try to do it in a couple of large transactions rather than a lot of small ones. Again the paid plans might be worthwhile here
The app gives you running totals of how much is remaining in your allowance for the month
Grand thanks guys
I only use it abroad
Don't want your bank knowing where you've been spending money when you were on holiday? 😜
I’ve to make a purchase soon of approx £2800. We’ve a joint account so I could split it between the two cards to get the free €1000 each. Unless my maths is totally wrong this would work out approx €13 in fees?
Am I correct that if I used my AIB credit card this would cost about €56?
I also have access to N26 and Curve if it makes more sense to use either of them.
If it's over a month away convert €1000 now and you should be able to avoid fees altogether.
Most cards would have a cap on charges, for example BOI CC fees are 2.25% but I think it’s capped at €11.17 or something like that.
Thats the FX charge, but the rate will also likely be higher - Revolut use the interbank exchange rate, where as I think BOI et al (as far as I'm aware) use the Visa/MasterCard card rate which will be Interbank + x so that part of it can build up on a larger transaction
With a BoI CC, it's not a flat FX charge with a cap, it's a 2.25% uplift on interbank on all non-Euro purchases.
So for every £1 you spend on the CC, you will pay GBP/EUR interbank plus 2.25%.
Anyone have any experience of revolut loans? Need a bridging loan which will be totally repaid in 3 weeks max, do they give you an indication of how much you could borrow? Would I be better off having the repayment length at 60 months so the repayments are lower and my capacity to repay that amount not be in question or just have it for 2 months?
I've gone so far in the application and they ask about your pay, is there any proof I need to supply or other documentation that they look for?
There is an anniversary date (of when you opened the account) which determines when the €1,000 FX allowance (to convert at interbank) resets and you can avoid fees by doing a conversion either side of that date. So for an amount between 1,000 and 2,000, it would be a simple matter of converting €1,000 on a given day and (up to) €1,000 on the following day. And provided you avoid weekends, you will get interbank and pay no fees.
Go into your personal details in Revolut by tapping on the coloured disc in the upper-left corner, then tap on 'Account'. At the botton of the account screen it will say 'Revolut customer since dd mm yyyy'. That day of the month ('dd') is your anniversary date. If you need to convert more than €1,000 to sterling or dollars, you need to do it on a Mon-Fri either side of your anniversary date, otherwise you will incur fees.
If your anniversary date is the 15th, I'm not sure if the 14th and 15th would work, it might be safer to split the transaction across the 14th and the 16th. I don't know if the month for FX conversions starts or ends on the anniversary date.
Yeah I got one a while back for a similar purpose
They'll base your income on your Revolut account and any linked accounts. I didn't have to upload any payslips
Basically you go through the process and they'll give you a loan amount plus an interest rate. Mine was somewhat higher than the advertised 6.5%, more like 9.5%, I guess I don't seem trustworthy
If you go ahead and accept the terms you can complete the application and the money will go straight into your main account
Overpaying is very simple, just go into the loan and you can pay directly from your main account
It's about as painless as getting into debt at a punitive level of interest can be
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