Revolut - Ultracheap FX (prepaid Mastercard)

EagererBeaver

MisterAnarchy wrote: »

The main drawback is your address is locked so changing it for using Parcel Motel /Parcel Wizard is messy .
You have to contact support to manually change it .

Again, all down to AML regulations. If they didn't have controls in place, it's a platform that could be pretty easily abused.

Had to change an address once and they were alright about it - just her to provide some pics of utility bills

Euphoriasean

Hi guys. In the USA at present and revolut is great for POS however when I take money out at an ATM the transaction is done in GPB. Is this normal? If I use a different bank would I be able to select withdraw in dollars and forego the banks exchange rate being applied.

msmx5

Euphoriasean wrote: »

Hi guys. In the USA at present and revolut is great for POS however when I take money out at an ATM the transaction is done in GPB. Is this normal? If I use a different bank would I be able to select withdraw in dollars and forego the banks exchange rate being applied.

What ATMs did you use? Should be dollars to get the best rate. I used TDbank ATMs while over there last year and they were OK --- ie transaction in Dollars so Revolut did the Fex at their good rate.

Euphoriasean

Not sure what the bank was just a small atm in the hotel. I'll try tdbank if I spot one. Thanks.

TheChizler

You're normally given the option to decline the exchange, it's easy to skip through the menus though.

TheChizler

Has anyone had any trouble very recently with location based security? Nearly every transaction I've had this week has been declined as my location doesn't match that of the merchant. If I tap on the failed transaction its merchant address resolution is reduced to 'area name', Ireland which is a disaster in this country. Failed transactions in Ballinlough and Blackrock, Cork are showing up in the map as in Roscommon and Dublin. I've used it in these exact places before.

Its very embarassing at tills having your card declined, I've had to turn off location security for now.

I reported it to Revolut who suggested that these merchants must route transactions through those counties (they don't) and to log out of the app and log back in. Not very helpful.

Delta2113

Location based security is simply not reliable and everybody should turn it off.

Yggr of Asgard

I would disagree with that blind statement.

I am using it on an Android phone with exact location tracking on giving that I believe google and the government do know everything they want anyhow and usually I have no issues if there is good Mobile Coverage.

It only behaves weird if I use Wifi because somehow the Wifi location has higher priority than the mobile, maybe because of the battery usage implications.

For example if I'm in a coffee shop and have WiFi on, the transaction fails as Wifi gives my location as UK while if it's mobile data, it's Dublin and I'm okay.

While it's not 100% all the time yet, I think it depends on your device, how good of a location it gives the app and what network you are using.

TheChizler

In my case I had the opposite problem, it was the location of the merchant which was wrong not my location. I wonder have they updated something which has reduced the resolution of addresses, I remember before they used to have building name resolution, now it's just locality and the wrong locality at that. Hopefully soon merchant service providers will start recording Eircodes on whatever database the card providers lookup.

thewheel2.0

Asking for trouble if you are using location based security. It's too difficult of a problem to solve from a technology point of view cause of all the variables involved. (At least in a reliable way - 100% of the time)

If I was Revolut I wouldn't bother offering it as people are just going to run into issues.

mrcheez

I've been jumping into this thread on and off and spotted something about ATM charges a few posts back... just to be clear do we get charged now every time we withdraw money from an ATM while abroad?

So in other words it's cheaper to withdraw more cash in one go?

I'm heading to South East Asia soon so just curious.

TheChizler

mrcheez wrote: »

I've been jumping into this thread on and off and spotted something about ATM charges a few posts back... just to be clear do we get charged now every time we withdraw money from an ATM while abroad?

It's only up to the previous limit of €5 for the year. I've used it a few times abroad this year and wasn't charged, but was charged when used here. If it was an Irish issued card it would definitely apply when abroad but since it's not an Irish card I don't think it applies to ATM withdrawals outside the country. Can't be sure though Revenue don't give an example of that situation.

http://www.revenue.ie/en/tax/stamp-duty/leaflets/stamp-duty-financial-cards.html

mrcheez

TheChizler wrote: »

It's only up to the previous limit of €5 for the year. I've used it a few times abroad this year and wasn't charged, but was charged when used here. If it was an Irish issued card it would definitely apply when abroad but since it's not an Irish card I don't think it applies to ATM withdrawals outside the country. Can't be sure though Revenue don't give an example of that situation.

http://www.revenue.ie/en/tax/stamp-duty/leaflets/stamp-duty-financial-cards.html

Ah right, sorry, thought it was a new charge that Revolut were adding.

So no charges for using Revolut at an ATM abroad then?

F1ngers

mrcheez wrote: »

Ah right, sorry, thought it was a new charge that Revolut were adding.

So no charges for using Revolut at an ATM abroad then?

https://revolut.com/faq

Yggr of Asgard

TheChizler wrote: »

It's only up to the previous limit of €5 for the year. I've used it a few times abroad this year and wasn't charged, but was charged when used here. If it was an Irish issued card it would definitely apply when abroad but since it's not an Irish card I don't think it applies to ATM withdrawals outside the country. Can't be sure though Revenue don't give an example of that situation.

http://www.revenue.ie/en/tax/stamp-duty/leaflets/stamp-duty-financial-cards.html

It does not matter where the issuer of the card is located for the scope of the stamp duty. There is no difference in terms of the 12 cent between card issuers, all are treated the same.

Until recently the wording on the revenue site was: "on withdraws in the state" which is why revolut only charges you for ATM withdraws in Ireland.

It looks like that limitation has gone away from the revenue webpage, so one might need to check the finance bill to see if there has been a change and the duty is now worldwide.

EagererBeaver

mrcheez wrote: »

Ah right, sorry, thought it was a new charge that Revolut were adding.

So no charges for using Revolut at an ATM abroad then?

Are you asking about Revolut charges or Irish ATM stamp duty?

mrcheez

EagererBeaver wrote: »

Are you asking about Revolut charges or Irish ATM stamp duty?

No just was curious if there were new per-transaction charges.

I forgot about the £200 / month limit too on free ATM withdrawals.

Mav11

The Revolut app (android) updated to a new version on my phone today. I notice that when the secure text code is received, I get a popup about accessing my contacts. When I dismiss the popup to enter the text code I get straight into my account without entering the code. Anybody else notice this? Also is there an option where the popups can be turned off? Very annoying!!

Thanks Mav

Mav11

Mav11 wrote: »

The Revolut app (android) updated to a new version on my phone today. I notice that when the secure text code is received, I get a popup about accessing my contacts. When I dismiss the popup to enter the text code I get straight into my account without entering the code. Anybody else notice this? Also is there an option where the popups can be turned off? Very annoying!!

Thanks Mav

Plus the phone number now defaults to +44 !!!!

Hibrasil

Am I correct in saying that when somebody opens a new account now and transfers money electronically from their bank account - the transfer will be in Euros and the Revolut account will show that money in Euros rather than GB Pounds.....leaving the user to convert it into Sterling or US Dollars.
Apologies if question appear stupid (in some way)....just clarifying what those who know how it works regard as the norm! Thanks for response.

cefh17

Hibrasil wrote: »

Am I correct in saying that when somebody opens a new account now and transfers money electronically from their bank account - the transfer will be in Euros and the Revolut account will show that money in Euros rather than GB Pounds.....leaving the user to convert it into Sterling or US Dollars.
Apologies if question appear stupid (in some way)....just clarifying what those who know how it works regard as the norm! Thanks for response.

Yeah you top it up in your home currency on the card, you can change to usd/gbp and then use it from there

Yggr of Asgard

Hibrasil wrote: »

Am I correct in saying that when somebody opens a new account now and transfers money electronically from their bank account - the transfer will be in Euros and the Revolut account will show that money in Euros rather than GB Pounds.....leaving the user to convert it into Sterling or US Dollars.
Apologies if question appear stupid (in some way)....just clarifying what those who know how it works regard as the norm! Thanks for response.

It depends on how you make the electronic transfer.

If you make the transfer in € to the common Revolut € account which requires you to provide the reference number, than yes, it will be credited to your € wallet and you can than do any conversion manually.

If you make the transfer to the £ local account (sort code/account number) than the banks will do the conversion at their bad rates and it will show up in the £ wallet.

So when you do the transfer make sure you use the bank information provided to you under the € currency and that you provide the reference number that Revolut gives you as end to end message or at least reference field.

MiskyBoyy

In people's experience, how long has it taken money to show up in your Irish bank account after withdrawing from Revolut?

EagererBeaver

It has improved recently i think compared to the early days. About 2-4 days i find.

MiskyBoyy

EagererBeaver wrote:

It has improved recently i think compared to the early days. About 2-4 days i find.

I withdrew it 20:20 Thursday 20th and it arrived in my bank after I posted this morning so yeah 2 business days. Decent enough.

The Ayatolla

Yep, previously took about 4-5 days but now seeing it in 1-3 days. A lot quicker if you make the transfer early morning or before 12pm on a weekday rather than a Friday night or weekend.

Doge

Does the Revolut 2% withdrawl fee in foreign countries work out cheaper than using an Irish Banks Debit card?

Yggr of Asgard

Doge wrote: »

Does the Revolut 2% withdrawl fee in foreign countries work out cheaper than using an Irish Banks Debit card?

That depends on your bank.

In most cases yes, however EBS for example only charges 1% so you would need to check with your bank.

St1mpMeister

Yggr of Asgard wrote: »

That depends on your bank.

In most cases yes, however EBS for example only charges 1% so you would need to check with your bank.

AIB seems to be:

- 2.5% of euro transaction (conversion fee)
- 1% of euro transaction (commission fee)

Afaik, Revolut is only the 2% after the first €200 and no commission fee.


Didn't Revolut used to allow up to €600 before the 2% charge hit?

OU812

Anyone getting rogue payment requests in their accounts?

I'm regularly getting two from amazon.de (where I've used the card) on the same day. 54.65 & 53.85. I've checked amazon and there's no orders pending, I've changed the passwords there so I think it's being used as a fraudulent name for the charge item.

There's only €10 in my account so both transactions always fail, but I'm concerned that if I do go to use it in the future that this charge will go through when I top up.

I've just got a replacement card from them this morning and yet again the charges appear this afternoon. My card is currently on hold in my app.