Revolut - Ultracheap FX (prepaid Mastercard)

Lucas Hood · 20-01-2019 10:08pm

Quackster wrote: »

It's an equal 'risk' that the rate improves instead and you make a profit. If you change at the weekend, it's a certainty that you lose on the rate.

But if your objective is to save money you shouldn't be taking that risk.

Idiotic imo.

EagererBeaver · 21-01-2019 12:01am

If you're going abroad you're going to be paying for meals, accommodation, transport etc. London for 3/4 days Thursday-Sunday would easily set you back the guts of a grand.

Not exchanging money in advance is as good as pissing it away.

OmegaGene · 21-01-2019 1:09am

100% agree
I think the whole concept is lost on some people tbh

TheChizler · 21-01-2019 2:10am

OmegaGene wrote: »

The entire purpose of Revolut is to save money so I don’t see the point paying 1.5% more on purchases
Each to their own but that’s my 2 cent

Spend a lot of Thai Baht or Russian Rubbles do you (they're actually 2% extra now) ?

Major currencies have a 0.5% markup at the weekend, not 1.5%.

TheChizler · 21-01-2019 2:19am

EagererBeaver wrote: »

If you're going abroad you're going to be paying for meals, accommodation, transport etc. London for 3/4 days Thursday-Sunday would easily set you back the guts of a grand.

Not exchanging money in advance is as good as pissing it away.

Which is fair enough cause those are pretty much known expenses which are easy to plan for. But it doesn't need to be explained to every newcomer as tends to happen in these threads. More important concepts to get across IMO, such as not topping up in Sterling from your Euro card, or declining conversion options at the POS or ATM.

I know that's not the situation that triggered the last few posts, just in general.

EagererBeaver · 21-01-2019 8:46am

TheChizler wrote: »

Which is fair enough cause those are pretty much known expenses which are easy to plan for. But it doesn't need to be explained to every newcomer as tends to happen in these threads. More important concepts to get across IMO, such as not topping up in Sterling from your Euro card, or declining conversion options at the POS or ATM.

I know that's not the situation that triggered the last few posts, just in general.

Since when was this about a beginner's guide to using revolut?

One poster provided a simple tip on how to easily save a few quid. Others came and poo-pooed it.

If you don't want to save a few quid here and there, fine, but for ****'s sake don't complain about others explaining how to do so.

OmegaGene · 21-01-2019 8:50am

TheChizler wrote: »

Spend a lot of Thai Baht or Russian Rubbles do you (they're actually 2% extra now) ?

Major currencies have a 0.5% markup at the weekend, not 1.5%.

I was in Russia just before Christmas actually

TheChizler · 21-01-2019 10:36am

OmegaGene wrote: »

I was in Russia just before Christmas actually

Fair enough but it would be unusual that someone would be using a currency with a higher rate.

TheChizler · 21-01-2019 10:43am

EagererBeaver wrote: »

Since when was this about a beginner's guide to using revolut?

Most of the questions in this thread are exactly that IMO.

If you don't want to save a few quid here and there, fine, but for ****'s sake don't complain about others explaining how to do so.

I do save by converting early when I can plan for it. I just wouldn't put it on equal importance with the other good tips on here.

EagererBeaver · 21-01-2019 11:15am

TheChizler wrote: »

Fair enough but it would be unusual that someone would be using a currency with a higher rate.

Thailand is a massively popular tourist destination too, especially with younger people who are more inclined to save every last penny.

I just really don't get your "it's not worth the hassle" angle here, as really, it's no hassle at all.

Creamy Goodness · 21-01-2019 11:16am

I don't get it either. Better to be armed with more knowledge on how to use Revolut than less.

MarkY91 · 21-01-2019 11:22am

Is the app still dodgy for everyone else?

My balance is the incorrect amount, my gf sent s money request too which I can't receive.

TheChizler · 21-01-2019 11:23am

EagererBeaver wrote: »

Thailand is a massively popular tourist destination too, especially with younger people who are more inclined to save every last penny.

I just really don't get your "it's not worth the hassle" angle here, as really, it's no hassle at all.

Again, no hassle if you've a trip planned, hassle if you're just buying something spontaneously online.

The high horse brigade · 21-01-2019 11:29am

MarkY91 wrote: »

Is the app still dodgy for everyone else?

My balance is the incorrect amount, my gf sent s money request too which I can't receive.

I saw an announcement on Twitter yesterday that they were having major issues

EagererBeaver · 21-01-2019 12:33pm

TheChizler wrote: »

Again, no hassle if you've a trip planned, hassle if you're just buying something spontaneously online.

Trips abroad don't tend to be spur of the moment.

dollylama · 21-01-2019 5:48pm

What amounts are folk here holding on Revolut if you don't mind me asking? What's the most you'd be comfortable holding with them?

Me personally... I auto top-up €200 at a time from AIB but I'm going to increase this to €500, possibly €1,000 in time. I like the thought of getting my wages paid into Revolut but I'm not comfortable with it just yet as their funds guarantee sounds like a bit of a grey area

Creamy Goodness · 21-01-2019 5:51pm

Since Apple Pay top-up is instant for me I top-up as I need to. I only hold one currency and that's Turkish Lira as I bought it at a good time (their currency was tanking). The rest I have a euro here, couple quid sterling there.

There's no way I'd put my full salary in there, don't care how backed by Barclay's there are, same for N26.

TheChizler · 21-01-2019 5:58pm

Creamy Goodness wrote: »

There's no way I'd put my full salary in there, don't care how backed by Barclay's there are, same for N26.

Off topic I know but why not N26? I know Revolut doesn't have the European-bank type guarantee yet but N26 does?

troyzer · 21-01-2019 6:01pm

Creamy Goodness wrote: »

Since Apple Pay top-up is instant for me I top-up as I need to. I only hold one currency and that's Turkish Lira as I bought it at a good time (their currency was tanking). The rest I have a euro here, couple quid sterling there.

There's no way I'd put my full salary in there, don't care how backed by Barclay's there are, same for N26.

Revolut are guaranteed by the British government via Lloyds' (not Barclay's) banking license.

N26 is guaranteed directly by the European Central Bank.

Creamy Goodness · 21-01-2019 6:01pm

I just don't trust them.

I canceled a black subscription 1 day after the renewal date, they told me sorry tough cookie you're signed up for another year. I tried to cancel my account fully and the terms stated that if I closed that account I couldn't open another one for 10 years. That's a long time, but they soured the relationship by not allowing me to cancel that subscription.

There's a huge difference in putting a couple of 1000's in the year for amazon/holiday spend etc. than putting in a full salary.

troyzer wrote: »

Revolut are guaranteed by the British government via Lloyds' (not Barclay's) banking license.

N26 is guaranteed directly by the European Central Bank.

apologies, I got my British banks mixed up :pac:

dollylama · 21-01-2019 8:27pm

I guess N26 would be a better option for receiving wages into at present then. I'm keen to cut ties with AIB so I've moved over every standing order, direct debit and outbound payment to Revolut but this means the auto top-up is calling upon my AIB account quite often... so the shysters are still getting in on the action! If my income were to go to N26, I could auto top-up Revolut from there.

I've seen comments elsewhere questioning if this EU 100k guarantee scheme has even been established. Another issue being discussed is that Revolut, Google and others have taken banking licences in fintech friendly Lithuania but in the case of one going titsup, the onus to pay the guarantee for the European customer base falls on Lithuania

adam88 · 22-01-2019 3:57am

OmegaGene wrote: »

I planned on buying a watch a few weeks back and exchange a few quid and it didn’t pan out for various reasons so I exchanged it back because the rate was in my favour and I made €67/€70 out of it.
I have a balance in serveral currencies if you watch the market you can set alerts for good times to buy, it’s all in the planning

And you my friend is a small time currency trader. There’s people in London they doing that he I g years of experience who might lose 60-70 million in a week. But we’ll done. I’ve been lucky as of late and gained a few bits

adam88 · 22-01-2019 4:00am

OmegaGene wrote: »

100% agree
I think the whole concept is lost on some people tbh

Yes I understand but if your going fri to Monday, I’d be slow to change on Monday and it could get better by Thursday, I know it can get worse as well. I’m well aware of that.

Suppose imeven if your just constantly spending from your euro wallet your still getting a way better rate than using your debit or credit card.

adam88 · 22-01-2019 4:08am

Any of ye have trouble withdrawing money in foreign atm’s. Me and my friend both have REVOLUT cards. Recently in Poland we used the same atm. It tried to offer us currency conversion rates but I just withdrew polish notes. Then my friend used it and it recgnoised the card totally differently. We got the money out eventually but just found it strange.

makeorbrake · 22-01-2019 8:23pm

Anyone having difficulty effecting a transfer from their PTSB account to Revolut?

Because of the "GB" Iban, I have to enter it as GB - when I add it as a payee on PTSB online banking. Once I do that and confirm - it's not listed as a payee! Anyone got the knowledge?

Dardania · 22-01-2019 8:37pm

makeorbrake wrote: »

Anyone having difficulty effecting a transfer from their PTSB account to Revolut?

Because of the "GB" Iban, I have to enter it as GB - when I add it as a payee on PTSB online banking. Once I do that and confirm - it's not listed as a payee! Anyone got the knowledge?

I had it under the "Transfer to Another Account, Including International" section, and worked fine.
Although in general I use debit card topup with my PTSB - saves me the grief of logging into their website (first world problem)

Jeff2 · 22-01-2019 9:05pm

adam88 wrote: »

Any of ye have trouble withdrawing money in foreign atm’s. Me and my friend both have REVOLUT cards. Recently in Poland we used the same atm. It tried to offer us currency conversion rates but I just withdrew polish notes. Then my friend used it and it recgnoised the card totally differently. We got the money out eventually but just found it strange.

There are two atms in two shops locally and one when I use the card it has options to change currency. It took me a few times to just get euros out so I avoided that one now.
The other atm is like normal.

Sono · 22-01-2019 11:06pm

My wife’s card expires in 9 days but it won’t let her order a replacement it keeps saying there’s an error, anyone else experience this?

F1ngers · 22-01-2019 11:30pm

Sono wrote: »

My wife’s card expires in 9 days but it won’t let her order a replacement it keeps saying there’s an error, anyone else experience this?

Someone mentioned earlier in the thread that they had to put their eircode into their postal code section.
May not resolve your issue though.

Sono · 22-01-2019 11:33pm

F1ngers wrote: »

Someone mentioned earlier in the thread that they had to put their eircode into their postal code section.
May not resolve your issue though.

I tried the eircode earlier and still didn’t work, very frustrating!

Revolut - Ultracheap FX (prepaid Mastercard)

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