Revolut - Ultracheap FX (prepaid Mastercard)

keredern · 08-11-2016 11:37am

BobbyT28 wrote: »

Not sure how much you are topping up, but I just topped up €400 as I am also heading to Belfast tomorrow. Top up was instant using BOI visa debit card.

Question,

Should I leave the 400 in Euros on the card and just pay for things as I go or convert €400 to sterling now within the app? Which is better or is there any difference??

BobbyT28

I think the general consensus is that you keep the card in euros & use it to pay for things as you go.

You get the best exchange rate at any given time that way.

keredern · 08-11-2016 11:37am

keredern wrote: »

Hi all.

I need to send about $30 to someone in the USA.

They don't have Revolut & I can't really ask them to sign up!

Is there anyway to use Revolut via PayPal without incurring Paypal's horrible exchange rates & fees?

My card is already successfully linked & I've used it previously on Paypal.

Thanks

Any help on this one guys? Thanks!

Surfn · 08-11-2016 2:28pm

is the revolut card a better card than post fx for going to america with
also if do i top up revolut card in euro and leave in euro or do i top up in euro and convert to dollars
thanks

The Ayatolla · 08-11-2016 3:05pm

In short, yes. Get a Revolut ASAP.

Either is fine regards top ups. Just make sure you top up in euros.

EagererBeaver · 08-11-2016 3:08pm

keredern wrote: »

Any help on this one guys? Thanks!

You can top up in euro, exchange to USD and send directly to their bank account.

duffman13 · 08-11-2016 3:13pm

dan786 wrote: »

Right so Revolut have not been able to figure out the fault as I was able to use exact same card to top up on a second account I set up to test. They asked me to remove card from my original account and add again. That didnt work as it wouldnt allow me to add any card to my account after that as it just stayed on the billing address page and never went past that.

Anyways, today downloaded the updated app and now when I try to add my BOI Visa card with Irish billing address, it just says that Revolut only supports top ups from EU countries. Anyone else come across this? Or did Ireland leave the EU :P?

I had this issue last week, told me numerous things which were all completely unhelpful, in the end I deleted the app and my card and reinstalled it. Still didn't work, same thing with my missus. Next day it was all back to normal and topped up no problem. Not much help for you but mine fixed itself

Claude Burgundy · 08-11-2016 3:31pm

Is there a daily transaction limit ?

I might need to make a payment of about 2.5k

Arbie · 08-11-2016 4:06pm

EagererBeaver wrote: »

You can top up in euro, exchange to USD and send directly to their bank account.

A note of caution with US banks - even if Revolut or the receiving US bank do not charge fees, many transfers go through intermediary banks which can charge a transfer fee for receiving international money.

Over the years I have paid from $10 to $30 in fees depending on the bank. Years ago I sent someone $50 to their Bank of America account, I paid AIB about €12 on top of that so the receiver would not have a fee (the "sender pays" option) but they only got $30 because of the intermediary bank, so it cost about €25 in fees to send them $30!

There is a report of such a fee with Revolut here: http://frequentmiler.boardingarea.com/2015/11/24/second-look-at-revolut-not-ready-for-us-customers-except-for-one-great-feature/

F1ngers · 08-11-2016 6:09pm

Claude Burgundy wrote: »

Is there a daily transaction limit ?

I might need to make a payment of about 2.5k

https://revolut.com/site/faq/

keredern · 08-11-2016 10:15pm

EagererBeaver wrote: »

You can top up in euro, exchange to USD and send directly to their bank account.

Thanks but the receiver will only accept PayPal!

EagererBeaver · 08-11-2016 11:42pm

keredern wrote: »

Thanks but the receiver will only accept PayPal!

When you say "need to send money", is this an online purchase like eBay?

Pay with the card through eBay in the US so currency is in dollars, no?

keredern · 09-11-2016 12:59am

EagererBeaver wrote: »

When you say "need to send money", is this an online purchase like eBay?

Pay with the card through eBay in the US so currency is in dollars, no?

No, I'm sending money privately to pay for postage.

So Paypal only.

Thanks.

EagererBeaver · 09-11-2016 6:24am

keredern wrote: »

No, I'm sending money privately to pay for postage.

So Paypal only.

Thanks.

Surely in that case, "will only accept PayPal" is up for debate.

keredern · 09-11-2016 11:16am

EagererBeaver wrote: »

Surely in that case, "will only accept PayPal" is up for debate.

Not really sure what that comment means?

My question was on how to avoid PayPal's currency exchange fees & charges.

I have since discovered, by doing a dummy run, that I can choose to have my payment method do the currency exchange, which solves my issue.

I don't mind paying a fee to send the money, I just didn't want PayPal to do the currency conversion.

retweet · 09-11-2016 4:25pm

I just noticed a transaction for €0 (probably verifying the card or something) was attempted on my card for some just eat equivalent in Denmark, hungry.dk. The transaction didn't go through because I have ecommerce payments disabled.

I'm going to follow it up with support.

Spocker · 09-11-2016 6:09pm

Just got the message that the annual limits have been reduced from €30k to €5k, before you'll need to verify source of funds

Amouar · 09-11-2016 6:26pm

Spocker wrote: »

Just got the message that the annual limits have been reduced from €30k to €5k, before you'll need to verify source of funds

I checked the app and it still shows as 30k for me. I also didn't receive any message.
Where did you get the message? Maybe you used your card in a gambling site?

Spocker · 09-11-2016 6:34pm

No gambling sites, and no massive top ups either (the bulk were less than €100). I'm currently on €1617 of €5000 per year, but it doesn't say when the year rolls over.

I found this on the FAQ:

https://revolut.com/site/faq/gettingstarted.php?faq_question=How+can+I+increase+my+top-up+limits%3F

Looks like verifying is going to be a pain

If it's being applied to individual accounts, it may be a phased rollout. I put a message on Support, I'll let you know they say

Amouar · 09-11-2016 6:37pm

Spocker wrote: »

No gambling sites, and no massive top ups either (the bulk were less than €100). I'm currently on €1617 of €5000 per year, but it doesn't say when the year rolls over.

I found this on the FAQ:

https://revolut.com/site/faq/gettingstarted.php?faq_question=How+can+I+increase+my+top-up+limits%3F

Looks like verifying is going to be a pain

If it's being applied to individual accounts, it may be a phased rollout

There is no mention of 5k or any other amount on this page https://revolut.com/site/faq/gettingstarted.php?faq_question=How+can+I+increase+my+top-up+limits%3F therefore I guess that they might have various limits instead of the same limits for everyone.

Maybe you can ask their support why it's 5k for you while others still have 30k.

Spocker · 09-11-2016 8:26pm

Amouar wrote: »

Maybe you can ask their support why it's 5k for you while others still have 30k.

I did, and just got this stock answer:

Revolut wrote:

Unfortunately for security reasons we cannot provide the specific details around how your top-up limits are calculated. You can increase your annual threshold even further by submitting some additional information. It’s pretty simple: just follow the steps in the ‘Verification & Limits’ page in our App.

For the record, my biggest top-up from Card was €205, and my biggest transaction was £90 on tickets in the UK

Amouar · 09-11-2016 8:31pm

Spocker wrote: »

I did, and just got this stock answer:

So it appears that indeed the limit varies from each user.

Spocker · 09-11-2016 8:34pm

Amouar wrote: »

So it appears that indeed the limit varies from each user.

Yes, it looks like it. Perhaps everyone starts at £30K and gets adjusted according to some algorithm. I'm not an excessive user so I wonder what triggered it? My most recent transaction was earlier today, a card top up of €20, to add to a sterling balance I had, to pay for something on a merchant site that used Amazon Payments

Conar · 09-11-2016 8:35pm

Spocker wrote: »

I did, and just got this stock answer:

For the record, my biggest top-up from Card was €205, and my biggest transaction was £90 on tickets in the UK

I've spent €6700 this year and it still shows my limit as 30k

Lucas Hood · 09-11-2016 8:59pm

I've spent 12000 this year and still shows limit at 30k.

Must be just random.

Aquos76 · 09-11-2016 9:08pm

I've spent €22k since last September and my limit is €30k

dan786 · 09-11-2016 9:12pm

Spent 37k in last 5 months while my limit it only 30K, so I wouldnt take that seriously, only verification I ever did was at very start where you have to upload a photo ID and picture of bank card.

Also that fact you can have multiple accounts defeats the purpose of having limits. A lad I know has 3 accounts and has at-least spent 15k on each using the exact same bank card on all 3 accounts.

TheChizler · 09-11-2016 10:48pm

Skimming their site I can't find any mention of a daily transaction limit. Was screwed in the US last year as barely any ATMs worked with my chip and pin Visa Debit so considering this. Is this chip and pin?

I'd like to avoid getting a credit card and paying stamp duty for the sake of a week's holiday.

Quackster · 10-11-2016 1:43am

TheChizler wrote: »

Skimming their site I can't find any mention of a daily transaction limit. Was screwed in the US last year as barely any ATMs worked with my chip and pin Visa Debit so considering this. Is this chip and pin?

I'd like to avoid getting a credit card and paying stamp duty for the sake of a week's holiday.

This is chip & PIN too but I've never had an issue using a chip-based card in a US ATM as it just reads the mag stripe.

TheChizler · 10-11-2016 10:27am

Quackster wrote: »

TheChizler wrote: »

Skimming their site I can't find any mention of a daily transaction limit. Was screwed in the US last year as barely any ATMs worked with my chip and pin Visa Debit so considering this. Is this chip and pin?

I'd like to avoid getting a credit card and paying stamp duty for the sake of a week's holiday.

This is chip & PIN too but I've never had an issue using a chip-based card in a US ATM as it just reads the mag stripe.

Might send them an email to confirm. Was in Vegas last year and my standard chip and pin debit card was limited to a couple of hundred per day at regular ATMs, unless I found bank branded and operated ones.

Yggr of Asgard · 10-11-2016 10:45am

Chip & Pin is relatively unknown in the US, they are currently implementing Chip & Sign.

When you arrive make sure you enable magnetic strip transactions in the Revolut App to ensure transactions requested that way will be approved.

Vendors will either swipe the magnetic strip or if they see the chip and have a new machine they will use the CHIP and than ask you to sign.

As to ATM's you are best to use the Mastercard ATM Tool to find a "CHIP Reader Enabled" ATM around you.

As to limits, this is what the FAQ states at present:

Card spending is limited to £30,000 or equivalent per year with a sublimit of £5,000 or equivalent per 96 hours meaning that you cannot exceed £5,000 or equivalent in card spending in a 96 hour period. Cash withdrawals from ATMs are limited to £2,000 or equivalent per day.

But note that there are fee's if you withdraw more than £500

Free up to £500 (or equivalent) per calendar month, 2% thereafter

Also you will most likely be charged a fee (3-5$) from the ATM provider for using their ATM.

Revolut - Ultracheap FX (prepaid Mastercard)

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