Revolut - Ultracheap FX (prepaid Mastercard)

TitianGerm

sweetie wrote: »

Worked a treat, cheers guys

Now don't pay her back :pac:

sweetie

emmetkenny wrote:

Now don't pay her back

Oh, this is just a drop in the ocean!

MarkY91

I'm off to Thailand and australia. Should I convert my euro to us dollars?

Should I keep it as euro and just withdraw local money from ATMs?(not on the weekend during crap exchange rates)

Is that all there is to it? What if I'm to pay let's say my hostel fee that I got to pay wheb I arrive? Pay by the card or cash?

killbillvol2

MarkY91 wrote: »

I'm off to Thailand and australia. Should I convert my euro to us dollars?

Should I keep it as euro and just withdraw local money from ATMs?(not on the weekend during crap exchange rates)

Is that all there is to it? What if I'm to pay let's say my hostel fee that I got to pay wheb I arrive? Pay by the card or cash?

Why would you convert to US dollars?

Otherwise use the card to pay as many bills as possible as your ATM withdrawal limit is €650 before you incur a fee.

dodzy

Folks, a silly question for most of the seasoned Revolut guys here, but I've just dipped my toe into this. How do you withdraw money back to the source account ? I'm sure it's staring me in the face but damned if I can see it

noel100

Go to pink button bottom right corner
Menu opens and click bank

dRNk SAnTA

MarkY91 wrote: »

I'm off to Thailand and australia. Should I convert my euro to us dollars?

Should I keep it as euro and just withdraw local money from ATMs?(not on the weekend during crap exchange rates)

Is that all there is to it? What if I'm to pay let's say my hostel fee that I got to pay wheb I arrive? Pay by the card or cash?

Just load cash onto your Revolut account and leave it as Euros. When you spend money abroad (using card/taking out cash), it'll automatically be exchanged to Thai/Australian from your Euros at the best possible rate.

I'm just back from a holiday in Malaysia. I used Revolut to pay for everything - Hotels, Shopping, Restaurants. So yes, you can use the revolut card for everything, but Thailand is a less developed country and card might not be accepted everywhere. Use it when you can.

To get cash, just go to an ATM and withdraw. Keep in mind that Revolut have put a limit on the amount of cash you can withdraw per month from ATMs. Once you pass the limit, a 2% fee will be charged. However, given their great exchange rates, it's still probably worthwhile to pay the 2% fee.

One thing to be careful of:
Sometimes overseas when you're using an ATM or card machine in a shop, you'll be offered an exchange rate on screen. Never accept this offer - you only ever want your card to be charged in the local currency. The offer is always a rip-off. Let Revolut take care of the exchange.

muloc

Hello,

To add Revolut as a Payee on BOI 365 is it (i) SEPA Payee or (ii) International Payee I set it up as does anyone know?

Thanks.

TitianGerm

dodzy wrote: »

Folks, a silly question for most of the seasoned Revolut guys here, but I've just dipped my toe into this. How do you withdraw money back to the source account ? I'm sure it's staring me in the face but damned if I can see it

I just take the money from an ATM and lodge straight to my bank account. It's quicker that way.

MarkY91

dRNk SAnTA wrote: »

MarkY91 wrote: »

I'm off to Thailand and australia. Should I convert my euro to us dollars?

Should I keep it as euro and just withdraw local money from ATMs?(not on the weekend during crap exchange rates)

Is that all there is to it? What if I'm to pay let's say my hostel fee that I got to pay wheb I arrive? Pay by the card or cash?

Just load cash onto your Revolut account and leave it as Euros. When you spend money abroad (using card/taking out cash), it'll automatically be exchanged to Thai/Australian from your Euros at the best possible rate.

I'm just back from a holiday in Malaysia. I used Revolut to pay for everything - Hotels, Shopping, Restaurants. So yes, you can use the revolut card for everything, but Thailand is a less developed country and card might not be accepted everywhere. Use it when you can.

To get cash, just go to an ATM and withdraw. Keep in mind that Revolut have put a limit on the amount of cash you can withdraw per month from ATMs. Once you pass the limit, a 2% fee will be charged. However, given their great exchange rates, it's still probably worthwhile to pay the 2% fee.

One thing to be careful of:
Sometimes overseas when you're using an ATM or card machine in a shop, you'll be offered an exchange rate on screen. Never accept this offer - you only ever want your card to be charged in the local currency. The offer is always a rip-off. Let Revolut take care of the exchange.

Thank you for the detailed reply.

So I essentially should always avoid the exchange rate of the atm and use the revolut exchange rate.

I guess I'm ok with the 2%..how much % should I expect to save by using revolut instead of my aib card?..you say I'll save alot so the 2% fee I'll eventually need to pay will still save me money.

cson

Folks anyone have experience of using this card in the US & care to share?

I'll be moving there for work in the coming weeks; I'm thinking of transferring my EUR balance from my bank account to the card & converting to USD to use in the States until I get a bank account set up over there.

My own experiences with the card for the past 4 months (UK, Europe, Southeast Asia & Australia) - its an incredible card. The fx is approaching and sometimes better than xe.com

In Oz it's perfect as you can pay for anything by card; Southeast Asia a little more difficult as they tend to be cash only countries but you do get very good rates (the Asian banks will scam you on their end though with anything from 1 EUR Charges in Vietnam to 5 EUR charges in Thailand for ATM withdrawals).

The ability to instantly transfer is excellent; my mate lost his Irish bank card early on in our travels & was able to get by on the Revolut through transferring money to my Irish account online and me topping up to transfer to him.

Love the app also in terms of keeping track of your spending; shows you exactly where the purchase happened in maps (useful for tracking your movements on nights out!) and categorises most stuff. There's other functionality such as being able to block your card instantly through the app if its lost or stolen.

In short; everyone should have one & Irish banks could learn a lot from them.

noel100

muloc wrote: »

Hello,

To add Revolut as a Payee on BOI 365 is it (i) SEPA Payee or (ii) International Payee I set it up as does anyone know?

Thanks.

Ive set up n26 on payee and country Germany and address Ireland no charge.

coldfire1x

cson wrote: »

Folks anyone have experience of using this card in the US & care to share?

I'll be moving there for work in the coming weeks; I'm thinking of transferring my EUR balance from my bank account to the card & converting to USD to use in the States until I get a bank account set up over there.

My own experiences with the card for the past 4 months (UK, Europe, Southeast Asia & Australia) - its an incredible card. The fx is approaching and sometimes better than xe.com

In Oz it's perfect as you can pay for anything by card; Southeast Asia a little more difficult as they tend to be cash only countries but you do get very good rates (the Asian banks will scam you on their end though with anything from 1 EUR Charges in Vietnam to 5 EUR charges in Thailand for ATM withdrawals).

The ability to instantly transfer is excellent; my mate lost his Irish bank card early on in our travels & was able to get by on the Revolut through transferring money to my Irish account online and me topping up to transfer to him.

Love the app also in terms of keeping track of your spending; shows you exactly where the purchase happened in maps (useful for tracking your movements on nights out!) and categorises most stuff. There's other functionality such as being able to block your card instantly through the app if its lost or stolen.

In short; everyone should have one & Irish banks could learn a lot from them.

Used this card while in US recently for three weeks. No issue anywhere, used it to withdraw money from ATM, paid for food, shopping etc.

dodzy

dodzy wrote: »

Folks, a silly question for most of the seasoned Revolut guys here, but I've just dipped my toe into this. How do you withdraw money back to the source account ? I'm sure it's staring me in the face but damned if I can see it

noel100 wrote: »

Go to pink button bottom right corner
Menu opens and click bank

Thanks Noel,


but fecked if i can find a pink button other than SEND in the bottom centre and tapping that just gives me a contacts list, 4 of whom are top of the list (Revolut users) ?


Sorry:(

F1ngers

dodzy wrote: »

Thanks Noel,


but fecked if i can find a pink button other than SEND in the bottom centre and tapping that just gives me a contacts list, 4 of whom are top of the list (Revolut users) ?


Sorry:(

The second you log in, there is a pink button on the bottom right of screen.

Check for update.
Uninstall/reinstall the app.

EDIT:
That pink button has four options, My Card, Bank, Support and Profile.

ieoin

Bit late to the game but I am just wondering is there any hidden fees etc with the card or drawbacks in general as opposed to a regular debit/credit card from a bank?
Recently I purchased an item from Amazon UK and I was charged another 7euro in ''cross border handling fees'', am I right in thinking that using a Revolut card would avoid such fees as you would be transferring the money to the Revolut card itself and not using a BOI debit card

noel100

ieoin wrote: »

Bit late to the game but I am just wondering is there any hidden fees etc with the card or drawbacks in general as opposed to a regular debit/credit card from a bank?
Recently I purchased an item from Amazon UK and I was charged another 7euro in ''cross border handling fees'', am I right in thinking that using a Revolut card would avoid such fees as you would be transferring the money to the Revolut card itself and not using a BOI debit card

I saved a fortune using this card. Bought an item of Amazon for 154sterling and save 7euro on the transaction against using my Ulster bank credit card

dodzy

dodzy wrote: »

Folks, a silly question for most of the seasoned Revolut guys here, but I've just dipped my toe into this. How do you withdraw money back to the source account ? I'm sure it's staring me in the face but damned if I can see it

noel100 wrote: »

Go to pink button bottom right corner
Menu opens and click bank

F1ngers wrote: »

The second you log in, there is a pink button on the bottom right of screen.

Check for update.
Uninstall/reinstall the app.

EDIT:
That pink button has four options, My Card, Bank, Support and Profile.

Lads, you guys must have a different version. I'm on IOS just in case there's a difference.

No pink button on bottom right.
I have 5 options as soon as I login on the bottom of the screen which are:
Account/card/send(pink icon)/support/profile

That said, the bottom left icon (account) gives 3 options once selected which are Topup/exchange/bank.

In the bank option, I needed to setup my BIC & IBAN (I stupidly assumed that once I had initially entered my card details at the start of the process, these details would be automatically used for withdrawals) . I was looking for a HOME SCREEN option to withdraw which I was never going to find (on iOS anyway)

Thanks again.

duffman13

Mervyn Skidmore wrote: »

I'm travelling to Thailand, Malaysia, and China over Christmas. Without reading through 197 pages, can I assume that this type of card will be very useful?

Very useful, im in china at the moment and have passed through Malayasia and Thailand with the card. It's way cheaper than using my AIB credit or debit card. It's saved me a lot, a couple of things to be aware of though:

You can only withdraw 650 per month before being charged 2% on anything above the 650. So were possible pay by card and minimise cash withdrawals. This resets on the 1st of each month.

Do your withdrawals Mon-Fri the rate is better and you will lose out on a few quid if you withdraw at the weekends.

In China the atms are a bit of a pain, the main card used is union pay so just double check the card takes Mastercard to save a shock. Also for some reason the max I can seem to take from one machine in china is 1500 rmb (200 euro) It then says you've reached your limit but you can just go to another machine. (Others I've met have had the same problem using standard bank cards)

duffman13

MarkY91 wrote: »

Thank you for the detailed reply.

So I essentially should always avoid the exchange rate of the atm and use the revolut exchange rate.

I guess I'm ok with the 2%..how much % should I expect to save by using revolut instead of my aib card?..you say I'll save alot so the 2% fee I'll eventually need to pay will still save me money.

For example in Thailand if you want to withdraw 500 euro worth or baht you would be limited to 270 per day if I remember correctly with AIB. So you would need to do two transactions. All Thai banks charge 150 baht for withdrawals which is about €4.50.

So you withdraw 500 in one transaction with Revolut your gonna get about 19460 baht and that is gonna cost 4.50.

AIB you'll need to do two transactions so it's gonna cost you 9 euro as opposed to 4.50. AIB also charge a currency conversion fee of 2.5% so 500 euro is gonna cost in the region of 12 euro for the two withdrawals.

Then on top of that I've found the revolut to be usually around about .4 of a baht better. So on the exchange rate your gonna make about 200 baht (5 euro better)

All in all on that 500 withdrawal you'll be about 20 euro better off.

Obviously if you go over the 650 mark your gonna pay 2% but the no limits on revolut withdrawals still mean you'll be a bit better off. Try where you can to pay for hotels etc with card. This is the first month ill have gone over the 650 but at this stage I'm happy for revolut to make something from me. I've been using it since it came out and it's served me well!

muloc

noel100 wrote: »

Ive set up n26 on payee and country Germany and address Ireland no charge.

Think we're on different wavelengths here.

I have 2 options in my online Bank of Ireland account when I go to add a payee as I want to transfer funds to my Revolut account:
(i) SEPA Payee or
(ii) International Payee

Not sure which one to use.

Thanks.

Yggr of Asgard

muloc wrote: »

Think we're on different wavelengths here.

I have 2 options in my online Bank of Ireland account when I go to add a payee as I want to transfer funds to my Revolut account:
(i) SEPA Payee or
(ii) International Payee

Not sure which one to use.

Thanks.

If you are paying in € than use SEPA and make sure you enter your unique reference number in the appropriate field.

muloc

Yggr of Asgard wrote: »

If you are paying in € than use SEPA and make sure you enter your unique reference number in the appropriate field.

thanks

pcuser

I just signed up for the Revolut card and everything went well. I wanted to buy 2 items from amazon so I topped up my card with €505 again all went well.

Amazon wont charge the card until the items are shipped some time in the next week. I just have a quick question. Do I have to transfer the the euro on the card in to sterling or is all this done automatically?

Zardoz

pcuser wrote: »

Do I have to transfer the the euro on the card in to sterling or is all this done automatically?

It will be done automatically at the exchange rate on the day

pcuser

Zardoz wrote: »

It will be done automatically at the exchange rate on the day

Thanks for the reply,

garion

Zardoz wrote: »

It will be done automatically at the exchange rate on the day

On a related note, if I have money on the card in GBP and EUR , and then buy something from Amazon.co.uk will it reduce the GBP balance or will it do an automatic fx conversion from the EUR balance? I'm hoping it's the former!

Thanks

The Ayatolla

It'll take the GB balance first then convert what ever else it needs from euros/dollar balances.

garion

The Ayatolla wrote: »

It'll take the GB balance first then convert what ever else it needs from euros/dollar balances.

Perfect, that's exactly what I hoped would happen. Thanks!

_dof_

The Ayatolla wrote: »

It'll take the GB balance first then convert what ever else it needs from euros/dollar balances.

Not exactly. It won't combine currencies for one transaction. If you don't have enough in 1 single balance, the transaction will be declined. It'll try to use GBP first, then EUR, see the FAQ: https://revolut.com/faq/gettingstarted.php?cat_id=8&cat_name=Account#parentVerticalTab8

What balance will my Revolut card use when I am abroad?
Your Revolut account can hold a balance in EUR, GBP and USD. The card selects which balance to use in the following order:

The local currency of the merchant/ATM e.g. if you are in the U.K. it will use GBP, your base currency (for a UK resident this would be GBP, if you are within the Eurozone this will be EUR and anywhere else will be USD).

You need to have sufficient funds in one single balance in order to make a transaction. If you don’t have enough funds in the balance of the local currency, it will default to your next largest balance and so on.