Revolut - Ultracheap FX (prepaid Mastercard)

collie0708

Guys going to to the UK for a few days and will be spending approx £1000, what is the likely savings between using the revolt card and getting the cash in the post office???

isnottheword

collie0708 wrote: »

Guys going to to the UK for a few days and will be spending approx £1000, what is the likely savings between using the revolt card and getting the cash in the post office???

I can't say specifically off hand. However, Revolut rates are better than practically any alternative. Furthermore, you will have use of revolut card for future trips (be that in the UK or elsewhere) OR for buying online in GB£ or other currency.

Secondly, the app is useful - you know exactly what you've spent in real time - you can turn the card on or off if you have security concerns - and you can turn it off if you have lost or misplaced it.

The Ayatolla

collie0708 wrote: »

Guys going to to the UK for a few days and will be spending approx £1000, what is the likely savings between using the revolt card and getting the cash in the post office???

Millions.

TheChizler

£1000 will cost you €1162.92 in Revolut right now. Will cost you €1202.66 with An Post.

isnottheword

TheChizler wrote: »

£1000 will cost you €1162.92 in Revolut right now. Will cost you €1202.66 with An Post.

That's a significant difference collie0708 - for that one trip alone. Remember, once you have the card set up, you can utilise for subsequent overseas trips (or online purchases in other currencies).

collie0708

isnottheword wrote: »

That's a significant difference collie0708 - for that one trip alone. Remember, once you have the card set up, you can utilise for subsequent overseas trips (or online purchases in other currencies).

Thats great, thanks guys:)

Dodge

One of the biggest plus points is that if you don't spend the whole £1,000, there's no messing with changing it back. Just leave it on the card and use it for euros, dollars, pounds whenever you want

TitianGerm

Is anyone having any trouble making payments with Revolut today? I've had two transactions turned down. Both online payments.

Dodge

Every one is down. This is poor

https://twitter.com/revolutapp/status/838362068420083712

https://twitter.com/revolutapp/status/838379987786924033

Yggr of Asgard

It's not only Revolut, it seams that also other UK Fintechs like Curve and Monzo are suffering the same faith.

Sir Oxman

Still down - again declined at POS and online...

Yggr of Asgard

According to one fintech company:

This issue has arisen as a result of a technical failure at a third party card processor, which we use for routing MasterCard transactions to us.

From what I understand, all of the effected companies are using the same card processor (who sits between their systems and Mastercard network) and while their own systems are up, because the card processor is not working they can't either. The companies are effectively disconnected from MasterCard and are unable to approve any transactions even if their own systems are working fine.

Which is why this is effecting a lot of companies that are not directly linked to Mastercard/Visa like traditional banks.

Dodge

Haven't been following for long but is this their biggest problem to date?

https://twitter.com/revolutapp/status/838451198424461312

dingding

Had a payment go through at 17:59

Yggr of Asgard

They are slowly all coming back, Monzo has a great update going on about this:

https://mondo.statuspage.io/

Yggr of Asgard

According to Global Processing Services (GPS) the payment processor they should now be back up and running.

It's going to be interesting to see, what the companies are going to do about this. Some are offering customers already a refund on any additional charges that occurred (like monzo or curve), looks like Revolut however is having the "was not out fault" approach.

Dodge

They've answered tweets back with 'we'll cover any FX charges incurred' to be fair

Yggr of Asgard

Dodge wrote: »

They've answered tweets back with 'we'll cover any FX charges incurred' to be fair

That sounds good, let's see if they do that in reality.

It's all GPS fault in the end because they had problems taking in the Mastercard requests to transmit them to revolut (etc), so I imagine there is going to be some major discussions going on with all of the companies that relied on GPS.

GPS was very quite during this episode while some companies were very quickly updating.

Show, that in reality most of these new fintech companies are all using GPS as processor (independent who they use as issuer).

Even Fire (who is a principle member of Mastercard and their own issuer) uses GPS and they were effected. They did e-mail comms about it very quickly.

I assume that some heads will roll at GPS (and quite possibly literally giving where they are located).

cdl

zamadar wrote: »

Hey all,
I have blank page after trying to enter security details on MasterCard webpage afterr trying to add top up card from EBS . Never had problems with AIB but don't have AIB card anymore. Anyway to solve it or i have to transfer money all the time.

EBS Mastercard security page has been broken in Revolut for months now. Suggest getting on Revolut's case about it, support said they would fix it a few months back, but doesn't look like they have made any progress yet.

StereoSound

Anyone have any issues booking Ryanair flights with this? Agoda.com working ok also?

Planning to use it for the above two sites during the week.

mrcheez

StereoSound wrote: »

Anyone have any issues booking Ryanair flights with this? Agoda.com working ok also?

Planning to use it for the above two sites during the week.

I've been able to make GBP payments on Amazon today so I imagine it's fine now.

amecullen

Having the same issue with the new lloyds bank account and bank of Ireland.
Never managed to get my debit card/address to work, so used the SEPA option up to now, slow but it worked.
Tried to setup the new Lloyds account, got the run around with customer service, tried several options none worked. eventually they said
"Due to technical difficulties this payee cannot be added at this time. Our support team are working to resolve the issue. We apologise for the inconvenience caused and would suggest you make the payment through an alternative method. For example, Visa Debit Card, cheque, cash, etc. "
It is only the revolut payee, I successfully setup another one.

isnottheword

amecullen wrote: »

Due to technical difficulties this payee cannot be added at this time. Our support team are working to resolve the issue. We apologise for the inconvenience caused and would suggest you make the payment through an alternative method. For example, Visa Debit Card, cheque, cash, etc. "
It is only the revolut payee, I successfully setup another one.

Perhaps it's an isolated incident. However, it could very well be blatant protectionism at work. The traditional establishment banks are not going to be any fans of new fintech entities such as revolut.


I've seen exactly the very same thing play out with Bitcoin exchanges both in the UK and Ireland - with the establishment banks withdrawing their banking facililties - meaning that customers simply couldn't get funds into the system in order to buy bitcoin - totally destroying their business.


In both instances, establishment banks see these start-ups as threats which have the ability to cannabalise their business and totally destroy certain revenue streams.

brendan86

Hi guys, im new to this revolut I havent signed up yet I just have a few questions if anyone can answer please.

This is the same as a bank account? Can someone setup a direct debit and automatically pay me montly using this service? Will it come at a cost to sender?

Thanks

isnottheword

brendan86 wrote: »

Hi guys, im new to this revolut I havent signed up yet I just have a few questions if anyone can answer please.

This is the same as a bank account? Can someone setup a direct debit and automatically pay me montly using this service? Will it come at a cost to sender?

Thanks

read back a couple of pages (from the end) - as the 'bank account' angle is a new feature. As i understand it (and I'm open to correction), direct debit is not possible just yet but they are working on it.

brendan86

Thank you, sorry I wasnt being lazy (well sort of was only theres so many pages) I just wanted a quick answer.. Thanks for the answer anyway..

isnottheword

brendan86 wrote: »

Thank you, sorry I wasnt being lazy (well sort of was only theres so many pages) I just wanted a quick answer.. Thanks for the answer anyway..

No problem at all - and I didn't think for a second you were being lazy. Forums like this are a wonderful resource. However, when a thread runs into a gazillion pages, it's impossible to extract the info required without a major investment of time.

StereoSound

Going to Berlin next month, should I enable the location based security setting in the app? I have also never used the card in an ATM before just POS. Should I use it in an ATM here first before I go?

Thanks

Savman

StereoSound wrote: »

Going to Berlin next month, should I enable the location based security setting in the app? I have also never used the card in an ATM before just POS. Should I use it in an ATM here first before I go?

Thanks

I wouldn't bother enabling location based security, I found it problematic. It declined a transaction for me when I was in Boots @ Birmingham Airport because Boots routed their billing centrally through London or somewhere, so even though I was present at the terminal, the app security blocked the payment (it was only for a bottle of water and a few bits).

StereoSound

Trying to book a hotel in agoda and they want to know who the issuing bank is for the card?? What do I put down "revolut" "optimal payments" ??

Thanks