Revolut Megathread.

I suppose the other use of a credit card is for an unexpected expense (e.g. car sh!t the bed) which you don't have the cash on hand to pay for

In that case APR would be important because you might not be able to pay it off in one go

Now in the case of Rrvolut, you could work around by using the credit card and then getting a short term loan to pay it off. The APR of 6% is better than the AIB credit card AFAIK, and you can pay it off as fast as you want

Disclaimer: I'd call this a method of last resort to pay for something and would advocate having a rainy day fund instead of being dependent on debt

Hi - Sorry if I’ve missed this in the thread, but has anyone had any hassle setting up a joint account since Revolut launched the function ? I can’t get the option from the app but my partner can. When she selects me to open a joint account with it says I can’t be invited to a joint account.

Any help or steers on this would be appreciated.

Thanks

Phil

They had it working before with the UK and LT IBANs so must have the ability to use the right fields at a some level. There is just something configured differently now with the IE one which wasn't picked up in testing.

Revolut's new aggressive customer education during transfers is becoming a pain.

I did not spend as much as I thought this month via Revolut and hence decided to withdraw some money to my own Germany Based account (which I had done in the past) only to be told that there is a 98.7% chance that this I'm getting defrauded.

Then I had to sit through two videos educating me about fraud and when I than confirmed, I got another two videos educating me on "safe accounts" frauds.

On a transfer to my own account, I had used in the past for both receiving and sending.

Heya have 2 qs about Revolut.

1. My wife and I previously with KBC so have had to find a new sole current account which we have with Revolut and no issues so far. I have got the email so far about joint account which we already have with AIB and don't pay fees on as mortgage payment comes from there. I wouldn't mind a Revolut joint account too but do they charge fees on this account? Also can you get physical cards so would that be 7.99 each for them to be posted out?? Maybe somebody who has set up joint account can confirm some of the above

2. Made my first cash withdrawal of 50 quid at weekend there and was charged 0.12, don't care about the money just want to know is this a common thing when withdrawing money or would it only be at some ATMs? Think it might have said Goverment Stamp Duty on Revolut for this.

Thanks

Regular banks take the charge in one go (it's 5 euro), revolut takes it each time as 12c until the max of 5 euro is reached. They have to take it.

If you already have cards to withdraw cash with you could avoid the 7.99 charge for the card by getting a virtual card and linking it to Google pay

Thanks for both replies here.

Yeah we are both standard accounts so no fees just have certain limits with ATM withdrawals and foreign exchange. Had premium for free for 3 months which worked well as were heading to The States but have since dropped back down to standard, might go premium again if go somewhere need currency again!!

Regarding stamp duty so do I get charged 0.12c no matter if I take out €50 or say €200? Either way it will work out much better for me anyway as nowadays I rarely carry cash. Did a stag the weekend for first time with Revolut as main bank and was able to tap phone everywhere, fair handy to track everything afterwards too whether that is a good or bad thing 🤣

Technical if you use your card for ATM withdraws only it's 12c per transaction capped at 2.50€.

The cap of 5€ only applies if you use the card for both ATM and purchases.

So, in theory you could create a virtual card and only use it for ATM's (there are some Euronet and AIB machines that take cardless withdraws) and only pay the government up to 2.50€ instead of up to 5.00€.

Or when there is once again a free card promotion you get one and use that for ATM's only.

Saves you giving the goverment more money for nothing.

Funny to see Bord Gais specifically referencing Revolut as being allowed for direct debits. AFAIK, it would be illegal for them to exclude any EU account, but there you go.

The easiest way to figure these details out are to use the ibancalculator.com or similar

Be interesting to see what would happen in the Ombudsman got involved. From my reading on here, they accepted the card number being in the remittance information field when the payment came from the LT IBAN, typical of the Irish banks to just shrug their shoulder and say "Not our problem" and I doubt the FSPO would do much either

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.