Revolut - Ultracheap FX (prepaid Mastercard)

Delta2113

gimmick wrote: »

This is probably been asked but I cannot find.

I am going to the States in a few weeks. Ive not used the Revolut before. Do I top it up in Euros from my current ac or do I top up in USD?

And then, if by chance I dont use all the money, is there a charge to transfer it back to my current ac?

-Top up in Euro - no charge to transfer back to bank account.

TitianGerm

Cortina_MK_IV wrote: »

@emmetkenny - Seems like you can't do the £7k in one go in fact you can't exceed £5,000 in a 96-hour period.

Thanks Cortina, I had a look on the FAQ but couldn't see that anywhere.

BobbyT28

Looking to load €1,500 onto my card to transfer to sterling.

Do you know if this will cost me anything in fees?

I have a free account

maximoose

No fees

Delta2113

If you are using the New York Subway MetroCard Vending Machine and it ask's for your zip code you use 99999 ref Revolut.

Delta2113

The "send money" - money transfer is not working. Anyone else?

EagererBeaver

Delta2113 wrote: »

The "send money" - money transfer is not working. Anyone else?

Just tested, worked fine. Have you updated the app recently? There was a major UI overhaul a day or two ago.

Delta2113

Yes updated - now on version 3.2 IOS - keep getting money transfer failed -'were sorry something has gone wrong'

Aquos76

A quick question about credit card top up, I know they charge a small % for top up via credit cards, but in relation to the transaction on a credit card, does that go through as a cash advancement and will it be then charged interest immediately by the credit card company? My mate is looking to get this card but his only method of topping up would be via a CC, I can't answer him as I've only ever topped up my acc via my visa debit card.

Delta2113

1% fee from Revolut and a cash advance fee from Credit Card company €3-4 I'd imagine.

Aquos76

Delta2113 wrote: »

1% fee from Revolut and a cash advance fee from Credit Card company €3-4 I'd imagine.

It seems that credit card transactions aren't actually put through as cash advancements, if that is the case, then it's a cheap way of withdrawing money from your credit card.

You can top-up your Revolut account instantly with a debit or credit card (MasterCard or Visa) on the app. Credit card top-ups will be recognised as a normal card transaction, not a cash advance. Unfortunately, some Maestro, pre-paid debit cards and American Express are not supported.

https://revolut.com/faq/gettingstarted.php?cat_id=4&cat_name=Top%20Up#parentVerticalTab4

Yggr of Asgard

Aquos76 wrote: »

It seems that credit card transactions aren't actually put through as cash advancements, if that is the case, then it's a cheap way of withdrawing money from your credit card.

I would be careful with that until someone actually posts his experience and if possible also the merchant category code used.

Revolut might use a code that is not cash advance but your credit card company might still have classified is as cash like transaction and hence charge the fee's. The fee is on more than cash for most companies these days.

It comes down to what merchant category code is used.

So until someone with an Irish card from each provider reports back I am skeptical.

Aquos76

Yeah, that's the main reason I posted here tbh, rather than take Revolut's word for it, I wanted to see what others experiences were.

Delta2113

If the bank that provides the credit card classifies it as quasi cash they will charge the fee but you should not get hit with interest unless it's not paid off in full by due date.

You could ring the bank but you could easily get an agent that doesn't know what he/she is talking about.

Aquos76

An I right in saying though that interest is charged straight away on any form of cash advancement?

Quackster

Aquos76 wrote: »

An I right in saying though that interest is charged straight away on any form of cash advancement?

That seems to vary between card issuers. BOI, for instance, doesn't charge interest on cash advances if balance is paid in full by due date each month.

steokeogh

Yggr of Asgard wrote: »

I would be careful with that until someone actually posts his experience and if possible also the merchant category code used.

Revolut might use a code that is not cash advance but your credit card company might still have classified is as cash like transaction and hence charge the fee's. The fee is on more than cash for most companies these days.

It comes down to what merchant category code is used.

So until someone with an Irish card from each provider reports back I am skeptical.

I have topped up using an AIB Click Visa and I wasn't charged a cash advance fee when the transaction went through.

I did this about 2 months ago to test it out so not sure if it has changed.

Delta2113

Delta2113 wrote: »

Yes updated - now on version 3.2 IOS - keep getting money transfer failed -'were sorry something has gone wrong'

- Just got following from chat - we are aware of that issue and working on it. we will try and fix it as soon as possible. you may try and change your friend's number in the following way: instead of 0698 change into i.e. +44698 and try to send your money. however it is possible it will not fix the issue.

Yggr of Asgard

steokeogh wrote: »

I have topped up using an AIB Click Visa and I wasn't charged a cash advance fee when the transaction went through.

I did this about 2 months ago to test it out so not sure if it has changed.

Can you see (online or paper) what category this was charged as?

Delta2113

My money transfer is now working when I added +353 before 087 etc. in my contacts.

ArKl0w

255 pages

So in summary,you transfer funds from your Irish credit card to this? Or is it you use this card and the transaction appears on your Irish card without foreign transaction fees?
Or you send money to this card from your Irish debit card and it operates as a prepaid with no fees and charges (the retailer being charged a small fee instead) ?

There are problems too in transferring from certain Irish cards still?

Could someone clarify,thank you

steokeogh

Yggr of Asgard wrote: »

Can you see (online or paper) what category this was charged as?

No doesn't show me what category the transaction was.

Yggr of Asgard

ArKl0w wrote: »

255 pages

So in summary,you transfer funds from your Irish credit card to this? Or is it you use this card and the transaction appears on your Irish card without foreign transaction fees?
Or you send money to this card from your Irish debit card and it operates as a prepaid with no fees and charges (the retailer being charged a small fee instead) ?

There are problems too in transferring from certain Irish cards still?

Could someone clarify,thank you

Revolut offers you a prepaid card that is linked to an online wallet (available in €, £ and US$) which you load by either a bank transfer, a charge to your Debit card or a charge to your credit card (1% fee by Revolut). You can only spend what you have loaded into the wallet.

You than use the Revolut mastercard to access the funds in your Revolut Wallet and get charged their own rates for transactions in currencies that you do not have in your wallet.

You can keep all your money in € if you want and every time you use the Revolut card it will take it from that amount (with no foreign exchange fee, only Revoluts rate which usual beside on weekends is better than what other banks charge).

If you want to speculate you can also exchange money from your € wallet to £ or $ and lock in todays rate. Spending in that currency will than first take money out of that wallet before going back to your €.

Does that help?

MiskyBoyy

A little video showcase:

Aquos76

I tested out the credit card top up this morning, I topped up by €10, a transaction of €10.10 was applied to my credit card and it was applied as a retail transaction rather than a cash advancement transaction. My credit card company is Avant (formally MBNA)

Cyrus

hi all, any tips on adding my revolut card to paypal? its getting declined for some reason

TitianGerm

Cyrus wrote: »

hi all, any tips on adding my revolut card to paypal? its getting declined for some reason

Do you have money on Revolut so PayPal can take a validation charge?

Cyrus

emmetkenny wrote: »

Do you have money on Revolut so PayPal can take a validation charge?

yep just stays there pending

TitianGerm

Cyrus wrote: »

yep just stays there pending

It'll stay like that for a day or two. Is your card showing on PayPal?

Cyrus

emmetkenny wrote: »

It'll stay like that for a day or two. Is your card showing on PayPal?

no, tell me there an error adding my card, revolut say some people can add to paypal and some cant, nothing they can do :rolleyes: