Revolut ATM charges

alanbk · 30-04-2021 11:22am #1

I know it’s not much in the grand scheme of things, but I was wondering if anyone could could shed some light on this. When I go to use my Revolut ATM card in any of the major banks, I am charged anything from €1.50 to €3 for a €20 withdrawal. I am allowed €200 a month free withdrawal with the Revolut account that I have. I contacted Revolut support and they confirmed that I have free €200 withdrawals but that banks can add there own charge. AIB wanted €1.95 and one of the cash machines in the local applegreen wanted €2.95 for a €20 withdrawal. Kind of negates the free withdrawals. Anyone know why the banks would charge up to 15% for an ATM transaction ?

Effects · 30-04-2021 11:25am

Possibly because they don't want a foreign bank to be competing against their lesser service, and want to make it less appealing for you.

punisher5112 · 30-04-2021 11:26am

Stay away from the ones I shops, currency exchange type ones and the euro ones seen all over the place with no bank name on them.

Calahonda52 · 30-04-2021 11:29am

Why should Irish banks allow non resident competition free load on their infrastructure, or in AIB case
Why should Irish taxpayer allow non resident competition free load on their infrastructure
.

L1011 · 30-04-2021 11:30am

Its entirely normal to be charged for using an off-network ATM; the Irish banks are on the same network as each other so that doesn't happen.

RangeR · 30-04-2021 11:38am

Is there a similar charge for cashback when making a retail purchase? Would this be a cheaper option for you?

SourSessions · 30-04-2021 2:19pm

RangeR wrote:

Is there a similar charge for cashback when making a retail purchase? Would this be a cheaper option for you?

Can't get cashback with revolut.

In saying that, I've never once been charged more than the 12c stamp duty for taking money out of my revolut card.

alanbk · 30-04-2021 2:24pm

SourSessions wrote: »

Can't get cashback with revolut.

In saying that, I've never once been charged more than the 12c stamp duty for taking money out of my revolut card.

That’s what I find so strange. No matter what bank I use here in Ireland the charge for the ATM withdrawal is outrageous.

alanbk · 30-04-2021 2:25pm

Calahonda52 wrote: »

Why should Irish banks allow non resident competition free load on their infrastructure, or in AIB case
Why should Irish taxpayer allow non resident competition free load on their infrastructure
.

Because if I’m abroad and use my AIB atm card I’m not charged by the issuing bank. Quid pro quo and all that.

Smee_Again · 30-04-2021 2:28pm

alanbk wrote: »

Because if I’m abroad and use my AIB atm card I’m not charged by the issuing bank. Quid pro quo and all that.

Do Revolut offer free ATM withdrawls to AIB customers on Revolut's ATM network?

ednwireland · 30-04-2021 2:32pm

Smee_Again wrote: »

Do Revolut offer free ATM withdrawls to AIB customers on Revolut's ATM network?

funny how people are prepared to defend irelands inefficient overpriced banks

pretty sure i only got charged the stamp duty on mine when i tried it but then i never use them for cash just load them up and avoid the irish banks transaction fees

Cabaal · 30-04-2021 2:35pm

ednwireland wrote: »

funny how people are prepared to defend irelands inefficient overpriced banks

To be fair Revolut isn't a proper bank license wise so not really right to compare it to an actual bank.

It'll never pay out the money to build an ATM network, for all its faults at least AIB did

Smee_Again · 30-04-2021 3:11pm

ednwireland wrote: »

funny how people are prepared to defend irelands inefficient overpriced banks

pretty sure i only got charged the stamp duty on mine when i tried it but then i never use them for cash just load them up and avoid the irish banks transaction fees

I'm not defending them, but there's no quid pro quo if Revolut don't have an ATM network for AIB customers to use.

Del2005 · 30-04-2021 8:54pm

alanbk wrote: »

Because if I’m abroad and use my AIB atm card I’m not charged by the issuing bank. Quid pro quo and all that.

If you are in the UK it's hard to find a free ATM and any that are have it in big writing that they are free. In some of their more deprived areas there's no free ATMs only pay

It's an issue with all cards as you'd be charged the same money using an AIB card in an ATM in a convenient location, the machine owners set the charge not the bank.

Calahonda52 · 30-04-2021 9:11pm

alanbk wrote: »

Because if I’m abroad and use my AIB atm card I’m not charged by the issuing bank. Quid pro quo and all that.

AIB is the issuing bank for your card
The abroad bank has its own atm network, R/lute is a parasite

alanbk · 30-04-2021 11:25pm

Calahonda52 wrote: »

AIB is the issuing bank for your card
The abroad bank has its own atm network, R/lute is a parasite

Revolut is deadly more like. Absolutely shook up the whole banking sector in Ireland and elsewhere.

Sinus pain · 30-04-2021 11:27pm

Make sure you are taking it out in local currency. My card is a stg card - if I take money out and don’t say local currency (only in some atm’s) I get charged an exchange rate - happens to me on PayPal too sometimes

Ubbquittious · 30-04-2021 11:30pm

What is so great about Revolut anyway? You don't have to pay 4 quid a month to own your account? If you're charged 2 quid for taking 20e from an ATM I fail to see the point in switching over. Yet people wax lyrical about it the whole time

punisher5112 · 30-04-2021 11:36pm

Ubbquittious wrote: »

What is so great about Revolut anyway? You don't have to pay 4 quid a month to own your account? If you're charged 2 quid for taking 20e from an ATM I fail to see the point in switching over. Yet people wax lyrical about it the whole time

Instant transaction, you can limit your spending, the app is very easy to use and you can well worked better before Brexit but you got the best exchange rate going.

jimmycrackcorm · 30-04-2021 11:52pm

Ubbquittious wrote:

What is so great about Revolut anyway? You don't have to pay 4 quid a month to own your account? If you're charged 2 quid for taking 20e from an ATM I fail to see the point in switching over. Yet people wax lyrical about it the whole time

It's a bit ridiculous to use it just to take cash out of an atm. First and foremost it's core value is in currency exchange. Try using your Irish bank card for sterling purchases and weep both at the exchange rate and foreign currency charge.

The ease of sending money to friends instantly is great.

That's before being able to use one time virtual cards so you can do subscriptions online without bothering to have to cancel after a free trial

But the biggie for me is the significant profits I show from dabbling in both stocks and crypto that it has made so easy.

I couldn't care less about taking cash out of an ATM. The last time I went to the UK for a weekend break in used the card to pay for everything and didn't need to take it any cash at all.

athlone573 · 01-05-2021 12:16am

These ATM's where you were charged, were they at an AIB/BoI active branch?

I think it's more likely they were at one of the non-branch ATM's (including ones at closed former branches) that have been sold off recently, to companies such as Euronet.

markmoto · 01-05-2021 8:03am

alanbk wrote: »

I know it’s not much in the grand scheme of things, but I was wondering if anyone could could shed some light on this. When I go to use my Revolut ATM card in any of the major banks, I am charged anything from €1.50 to €3 for a €20 withdrawal. I am allowed €200 a month free withdrawal with the Revolut account that I have. I contacted Revolut support and they confirmed that I have free €200 withdrawals but that banks can add there own charge. AIB wanted €1.95 and one of the cash machines in the local applegreen wanted €2.95 for a €20 withdrawal. Kind of negates the free withdrawals. Anyone know why the banks would charge up to 15% for an ATM transaction ?

If a financial company like revolut conducts banking operations without licensing in your own country I would be very very cautious of using them.
In case something goes wrong you can say goodbye to your money.

Read reviews many people for one or another reason already lost a substantial amount of money.
https://www.reviews.io/company-reviews/store/revolut
https://ie.trustpilot.com/review/www.revolut.com?stars=1

And reviews of people who actually worked for this company.
https://www.glassdoor.ie/Reviews/Revolut-Reviews-E1176471.htm

The J Stands for Jay · 01-05-2021 8:14am

Ubbquittious wrote: »

What is so great about Revolut anyway? You don't have to pay 4 quid a month to own your account? If you're charged 2 quid for taking 20e from an ATM I fail to see the point in switching over. Yet people wax lyrical about it the whole time

If you're dealing in cash, what's the need to involve a bank/fintech?

alanbk · 01-05-2021 1:34pm

athlone573 wrote: »

These ATM's where you were charged, were they at an AIB/BoI active branch?

I think it's more likely they were at one of the non-branch ATM's (including ones at closed former branches) that have been sold off recently, to companies such as Euronet.

That’s the thing. I was being charged in BOI and AIB. I think it’s actually something amiss on my account.

km991148 · 01-05-2021 1:41pm

alanbk wrote: »

That’s the thing. I was being charged in BOI and AIB. I think it’s actually something amiss on my account.

Is your revolut account Irish? Is the card Irish?

If the ATM recognises it as foreign, you get the choice to use the bank or the local system. Local will always be more expensive over letting revolut handle.

I guess what I'm trying to do is narrow down what the charge is actually for. ATM fee, currency, bank fee etc

alanbk · 01-05-2021 1:49pm

km991148 wrote: »

Is your revolut account Irish? Is the card Irish?

If the ATM recognises it as foreign, you get the choice to use the bank or the local system. Local will always be more expensive over letting revolut handle.

I guess what I'm trying to do is narrow down what the charge is actually for. ATM fee, currency, bank fee etc

Thanks for that. The card is Irish. I’ve mostly euro in the account with a little stg. The account holder and card is registered in Ireland. I’m going to try my wife’s card in AIB later and see if she has the same issue.

km991148 · 01-05-2021 1:54pm

alanbk wrote: »

Thanks for that. The card is Irish. I’ve mostly euro in the account with a little stg. The account holder and card is registered in Ireland. I’m going to try my wife’s card in AIB later and see if she has the same issue.

Are they definitely ATMs run by the people you think they are?

Sometimes AIB etc sell them or no longer control them, but since of the old colour or branding remain.

Ping rev support and ask them?
I'm curious now lol

km991148 · 01-05-2021 1:58pm

Calahonda52 wrote: »

The abroad bank has its own atm network, R/lute is a parasite

Revolut are fine for consumer banking and no doubt pay the same network access fees as other banks (if that's what you mean by parasites).

The only gripe I would have with them is they apparently treat staff like crap. Ethically that's might be a bit dodgy, but their banking model isn't causing AIB harm. AIB etc were not innovating for years and happy to overcharge etc until the new crop of fintech companies came along.

Ubbquittious · 01-05-2021 2:22pm

McGaggs wrote: »

If you're dealing in cash, what's the need to involve a bank/fintech?

I still need to be able to accept iban transfers, I still buy stuff online. For real life stuff I tend to use cash if I can. Tried to open a Degiro account for the stock market stuff but still need to send them a ball of paperwork.

I'd say for me Revolut offers no real advantages. A few suppliers I buy off in the States accept payment in Euro and brexit brought down the Kibosh on buying anything big from UK

Gooser14 · 01-05-2021 2:45pm

Are you certain that your card is Irish? I've checked mine on a bin checker web site (bindb.com) & it comes up as GB. You may have done this already.

km991148 · 01-05-2021 3:53pm

Ubbquittious wrote: »

I still need to be able to accept iban transfers, I still buy stuff online. For real life stuff I tend to use cash if I can. Tried to open a Degiro account for the stock market stuff but still need to send them a ball of paperwork.

I'd say for me Revolut offers no real advantages. A few suppliers I buy off in the States accept payment in Euro and brexit brought down the Kibosh on buying anything big from UK

Don't think you need to explain why you use a given product :pac:

Ubbquittious · 01-05-2021 4:07pm

km991148 wrote: »

Don't think you need to explain why you use a given product :pac:

Only because someone asked.

km991148 · 01-05-2021 4:28pm

Ubbquittious wrote: »

Only because someone asked.

Yeah, I know.. that's my point!

alanbk · 01-05-2021 5:29pm

Gooser14 wrote: »

Are you certain that your card is Irish? I've checked mine on a bin checker web site (bindb.com) & it comes up as GB. You may have done this already.

Did that lookup. My card is GB and my wife’s card is Lithuania. Maybe that explains it. Back onto Revolut so. Just went to local atm in applegreen with my wife’s cards. Withdraw €20 and no fee. Using my card and the fee is €1.95 to withdraw €20. So my card is seen as being in the uk and as such is not in Europe and therefore subject to withdrawal fees. Think that the reason anyway. Thanks all.

Gooser14 · 01-05-2021 5:53pm

Have a read of the following:

https://blog.revolut.com/using-atms-abroad/

When you used your card you should have been given the option to select local currency or without conversion thereby avoiding the charge.

alanbk · 01-05-2021 6:11pm

Gooser14 wrote: »

Have a read of the following:

https://blog.revolut.com/using-atms-abroad/

When you used your card you should have been given the option to select local currency or without conversion thereby avoiding the charge.

Yep. No option to change currency just an advisory re the charge. I’ll contact Revolut for the crack and see cad e an sceil .

makeorbrake · 09-05-2021 11:47am

Within the app, Revolut have a map showing commission-free ATMs.

John Horgan · 14-10-2021 12:18pm

Sorry to bring up an old thread.. I was just wondering if there is a way to get one of the Revolut cards that doesn't charge you?

Mine is GB sadly and I'm between Bank cards from my EBS and refuse to pay 3.95 to take out 20 Euro

SourSessions · 14-10-2021 1:19pm

I've had GB revolut cards and never been charged to withdraw. Is it the ATM you're going to?

John Horgan · 14-10-2021 9:47pm

Possibly but I went to 2 separate ones today.

The first was trying to charge 1.95.

I could of sworn it use to only charge 12 cent at a time.

Is there a certain type of ATM to look out for?

Bobeagleburger · 14-10-2021 9:54pm

I've never been charged withdrawing with Revolut

whomitconcerns · 14-10-2021 9:57pm

https://www.boards.ie/discussion/comment/118021314#Comment_118021314

Nor me. Unless I go to one of those weird ATMs that charge a fee to everyone

Bobeagleburger · 14-10-2021 9:59pm

https://www.boards.ie/discussion/comment/118021333#Comment_118021333

Yes, and they actually tell you that there's a charge.

John Horgan · 14-10-2021 10:19pm

Yeah there was an option to cancel which I did when I seen the charge.

One of them was called EuroNet I think the ATM

SourSessions · 15-10-2021 12:12am

Try just a normal bank ATM if you can

L1011 · 15-10-2021 6:47pm

https://www.boards.ie/discussion/comment/118021875#Comment_118021875

Very few of those left - most off-premises ones (not physically in the wall of a bank) have been sold to Euronet or Brinks; and charge through the nose for non-Irish cards. And there's a huge depletion of actual bank branches too.

alanbk · 19-10-2021 7:34pm

https://www.boards.ie/discussion/comment/118018781#Comment_118018781

Hi. I’m in the same boat as you and had no joy with customer support. My card was one of the early ones and was uk based so any withdrawals I make in Ireland are seen as foreign and there is a ridiculous charge. Gave up trying to sort it. My wife’s card is Irish and she doesn’t get charged.

Aido · 12-11-2022 9:48am

https://www.boards.ie/discussion/comment/117045569#Comment_117045569

Mmm..Well I think its fair to say that the Irish banks have brought this on themselves. They have created the opportunity for Revolut.

Simple example...I had to help my Aunt transfer money from UK to Ireland (as she was moving back here and buying a small place). AIB's fees to her were €500 for transferring €20k (ie 2.5%). I helped her do it via Revolut for €30 at the time. I think the term used to describe Revolut is a bit unfair in that context.....

Aido · 12-11-2022 9:51am

I should also add that its not just the Irish banks who have caused this...The UK Banks have not been much better, and have found that Revolut, N26 etc are now eating into their business also....