Revolut - Ultracheap FX (prepaid Mastercard)

OmegaGene

Zardoz wrote: »

Well I'm not sure why they are flagging me but I am getting fed up of it at this stage.
The money is directly deposited from my AIB account into my Revolut account.
I dont send money to anyone else and I don't receive money from anyone else.
I only use Revolut to buy stuff online.
I've no idea how this could be construed as money laundering.

Any other bank have no issue with this but these guys seem to think they can demand documentation off me .

Move to n26

Zardoz

OmegaGene wrote: »

Move to n26

I already have an account with them .

OmegaGene

Zardoz wrote: »

I already have an account with them .

If it was me I would delete Revolut and forget about them

OldMrBrennan83

If I get a replacement card will it be a Visa I can't use with Google Pay? My current card has gone awful got and miss for contactless working.

Dardania

OldMrBrennan83 wrote: »

If I get a replacement card will it be a Visa I can't use with Google Pay? My current card has gone awful got and miss for contactless working.

Yes but you can just get an additional card rather than replacement. Leave the current card operational such as it is

Synode

OmegaGene wrote: »

If it was me I would delete Revolut and forget about them

Why. Revolut is great

OmegaGene

Synode wrote: »

Why. Revolut is great

I was talking to a poster who said they keep being asked for proof of financials and they aren’t happy
I’ve no problem with Revolut it’s fantastic apart from the passport upload nonsense

irishgeo

OmegaGene wrote: »

Synode wrote: »

Why. Revolut is great

I was talking to a poster who said they keep being asked for proof of financials and they aren’t happy
I’ve no problem with Revolut it’s fantastic apart from the passport upload nonsense

The normal banks are asking for the same thing.

OmegaGene

irishgeo wrote: »

The normal banks are asking for the same thing.

Great stuff thanks for letting me know

Zardoz

irishgeo wrote: »

The normal banks are asking for the same thing.

No other bank has ever asked me for source of funds .
I uploaded proof and now they want me to do it again after only topping up by an extra 1000 euro.
Its ridiculous.

Yggr of Asgard

Zardoz wrote: »

No other bank has ever asked me for source of funds .
I uploaded proof and now they want me to do it again after only topping up by an extra 1000 euro.
Its ridiculous.

Clearly they think that you are a risk to them due to the data they have available so they have decided to ask questions.

It could be loads of reasons taking your spending habit into consideration, nothing you can do beside either conforming to their request or search for a different provider that does not have the same opinion.

Remember they are not a bank, they are an electronic money institution that has some different risk management due to some if their features making them interesting to people which might want to use them for purposes not fully legit.

Gael23

How do this crowd make money? I've only ever govern them €2 when I had to canc l my card and needed a replacement.

punisher5112

Gael23 wrote: »

How do this crowd make money? I've only ever govern them €2 when I had to canc l my card and needed a replacement.

On exchange rates etc.

OmegaGene

Gael23 wrote: »

How do this crowd make money? I've only ever govern them €2 when I had to canc l my card and needed a replacement.

Metal card subscription too

Yggr of Asgard

Gael23 wrote: »

How do this crowd make money? I've only ever govern them €2 when I had to canc l my card and needed a replacement.

They don't make money, it's about getting their name out, getting market share and once their is enough share, they need to sell premium products or add-ons to make money.

While they receive up to 0.2% of the value of each card transactions, this used to be 1.7% when they started and the EU regulating this down to 0.2% is cutting into their planned revenue stream, so they will need to make it up other ways.

Also, in theory, they could earn interest on the funds in your wallet they park with Lloyds.

Yggr of Asgard

Mr.S wrote: »

All of the premium add ons, ATM withdrawals etc. As the service grows we'll start to see much more "premium only" features.

ATM withdraws are actually losing them money which is why they charge for it and have such a low limit.

Each time someone uses an ATM Revolut get charged an amount of money from the ATM operator and as they don't have ATM's of their own is no balancing it out.

These charges depend on the country where it happens and go from as little as 0.50€ to up to 4.95€.

In Ireland, the financial regular actually is not allowing charges for ATM withdraws which is why you don't pay to go to the ATM in Ireland on your Irish Bankcard.

And now that both Visa and Mastercard actually allowed a direct charge at the ATM for using the card it's even going to get more difficult to free ATM withdraws.

JoyPad

I've been using my Revolut card with PayPal for a number of years. However, looks like the end of the road.
My Revolut Mastercard is expiring this month, and PayPal does not allow me to add neither the physical Visa, nor the virtual one that I created. They send the $1 auth, which appears in the app, but then I get an error, and they do not link the card.

Initially, I was getting an error related to the billing address. I checked the address twice, spoke to Revolut Support, they confirmed the address was correct. I then went on phone with PayPal, who said they no longer accept prepaid cards. The PayPal support went as far as making a change on their side so I would see the "correct" error when trying to link my card. It now says invalid card number for the virtual card!

I was able to link my Bank of Ireland Visa Debit, but Revolut says their cards are not debit cards, they are prepaid debit cards, so if PayPal says no prepaid cards accepted, there's nothing they can do about it.

Not sure what now. Stop using PayPal for USD/GBP? Switch from Revolut to something else, who issues proper Debit cards?

5star02707

JoyPad wrote: »

I've been using my Revolut card with PayPal for a number of years. However, looks like the end of the road.
My Revolut Mastercard is expiring this month, and PayPal does not allow me to add neither the physical Visa, nor the virtual one that I created. They send the $1 auth, which appears in the app, but then I get an error, and they do not link the card.

Initially, I was getting an error related to the billing address. I checked the address twice, spoke to Revolut Support, they confirmed the address was correct. I then went on phone with PayPal, who said they no longer accept prepaid cards. The PayPal support went as far as making a change on their side so I would see the "correct" error when trying to link my card. It now says invalid card number for the virtual card!

I was able to link my Bank of Ireland Visa Debit, but Revolut says their cards are not debit cards, they are prepaid debit cards, so if PayPal says no prepaid cards accepted, there's nothing they can do about it.

Not sure what now. Stop using PayPal for USD/GBP? Switch from Revolut to something else, who issues proper Debit cards?

What i did was to link Revolut itself i.e. the IBAN on your account. No need to link your Card

OmegaGene

5star02707 wrote: »

What i did was to link Revolut itself i.e. the IBAN on your account. No need to link your Card

I’ve got the card and the account linked on my paypal

5star02707

OmegaGene wrote: »

I’ve got the card and the account linked on my paypal

Yeah got mine linked too but Paypal may have changed this recently and can't add prepaid cards anymore

tringle

Sorry if i sound like an idiot but im having problems with some payments and have had to make some transactions using Paypal with the money going from my Revolut card. The payment sbows on my Paypal account as the correct amount but money taken from Revolut is slighty more. Who is actually charging me for this transaction, Revolut or Paypal. And is it a commission or set amount. I dont mind a few cent but last one was a large purchase with an extra €40 added on, i wouldt have gone ahead with the transaction if i was aware. Thanks

Ha Long Bay

tringle wrote: »

Sorry if i sound like an idiot but im having problems with some payments and have had to make some transactions using Paypal with the money going from my Revolut card. The payment sbows on my Paypal account as the correct amount but money taken from Revolut is slighty more. Who is actually charging me for this transaction, Revolut or Paypal. And is it a commission or set amount. I dont mind a few cent but last one was a large purchase with an extra €40 added on, i wouldt have gone ahead with the transaction if i was aware. Thanks

You need to change the conversion options for the card in PayPal.

http://blog.iopsl.com/change-paypal-conversion-options-to-avoid-high-currency-exchange-fee/

F1ngers

tringle wrote: »

Sorry if i sound like an idiot but im having problems with some payments and have had to make some transactions using Paypal with the money going from my Revolut card. The payment sbows on my Paypal account as the correct amount but money taken from Revolut is slighty more. Who is actually charging me for this transaction, Revolut or Paypal. And is it a commission or set amount. I dont mind a few cent but last one was a large purchase with an extra €40 added on, i wouldt have gone ahead with the transaction if i was aware. Thanks

Is it possible you're letting paypal do your conversion for you?

If so, you need to disable it.

JoyPad

tringle wrote: »

Sorry if i sound like an idiot but im having problems with some payments and have had to make some transactions using Paypal with the money going from my Revolut card. The payment sbows on my Paypal account as the correct amount but money taken from Revolut is slighty more. Who is actually charging me for this transaction, Revolut or Paypal. And is it a commission or set amount. I dont mind a few cent but last one was a large purchase with an extra €40 added on, i wouldt have gone ahead with the transaction if i was aware. Thanks

This is exactly why I want to use Revolut with PayPal.
At the time of checkout, you need to pay attention to the currency conversion, if any. PayPal always wants to do the currency conversion for you, and the rate is to their advantage. Even if I choose to pay in the store currency, if PayPal uses my Bank of Ireland card to make the payment, I end up being fleeced by BoI, and their currency conversion fees.

The best option is always use the store currency and let Revolut do conversion for you, as they have the friendliest rate.

JoyPad

5star02707 wrote: »

What i did was to link Revolut itself i.e. the IBAN on your account. No need to link your Card

I did this, and now waiting for the check process to validate my account.
Hopefully, I can convince PayPal to pass on the payments in the store currency, and let Revolut do conversions.
I am mainly using Revolut for online purchases in GBP and USD.

Marlow

I've had the same issues with PayPal in the past and because I have a business account with PayPal, I can't change it in the portal.

But you can ring them and get them re-classify the card for a different currency (like EUR) and then you just have to be careful with GBP and USD conversions.

/M

Kat1170

JoyPad wrote: »

I did this, and now waiting for the check process to validate my account.
Hopefully, I can convince PayPal to pass on the payments in the store currency, and let Revolut do conversions.
I am mainly using Revolut for online purchases in GBP and USD.

You don't have to convince them anything. Just follow the link in the above post by John4321

1. Open Paypal and log in
2. Click on ''Settings'' (cog shaped icon)
3. Select ''Payments''
4. Select ''Manage your automatic payments''
5. Bottom left of this page clock on ''Can’t find what you’re looking for? Try the manage automatic payments page.''
6. This will open an 'old style' Paypal page. Now click on ''Set Available Funding Sources''
7. Now Select the ''Conversion Options'' link beside your Revolut card number.
8. Now Select ''Bill me in the currency listed on the seller's invoice.''
9. Finally click on ''Submit''

Thats it. I'm sure its's no accident PP make this had to find.

OmegaGene

Kat1170 wrote: »

You don't have to convince them anything. Just follow the link in the above post by John4321

1. Open Paypal and log in
2. Click on ''Settings'' (cog shaped icon)
3. Select ''Payments''
4. Select ''Manage your automatic payments''
5. Bottom left of this page clock on ''Can’t find what you’re looking for? Try the manage automatic payments page.''
6. This will open an 'old style' Paypal page. Now click on ''Set Available Funding Sources''
7. Now Select the ''Conversion Options'' link beside your Revolut card number.
8. Now Select ''Bill me in the currency listed on the seller's invoice.''
9. Finally click on ''Submit''

Thats it. I'm sure its's no accident PP make this had to find.

I did this a couple of years back and Revolut guided me through it on chat, very helpful

Zardoz

Zardoz wrote: »

No other bank has ever asked me for source of funds .
I uploaded proof and now they want me to do it again after only topping up by an extra 1000 euro.
Its ridiculous.

It may be something else that’s flagging but their way of flagging anything appears to be just “source of funds”.

I got asked for “source of funds” while abroad last year, I wasn’t going to be home for two weeks and I was using Revolut heavily so it would have been a massive inconvience if they restricted my account. I went in chat and said I wasn’t able to provide source of funds for a few weeks but could they please unlock my account as I really needed it.

They asked me some other questions totally unrelated to source of funds, stuff like was I related to or have any dealings with politicians. Once I said no to any of their questions they unlocked my account immediately and I’ve heard nothing since.

tringle

Conversion rate in Paypal, thanks all i will have a look
But the bill was in euro and my revolut card also in euro. Does that mean paypal reverts to sterling as i can see why else there should be a conversion, totally confused now.

EagererBeaver

Anyone on here much experience in using it in China? I'll be in Shanghai and other parts of Jiangsu for ten days later this month.

DopeTech

EagererBeaver wrote: »

Anyone on here much experience in using it in China? I'll be in Shanghai and other parts of Jiangsu for ten days later this month.

I imagine once they accept MasterCard or visa you should be fine.

garion

EagererBeaver wrote: »

Anyone on here much experience in using it in China? I'll be in Shanghai and other parts of Jiangsu for ten days later this month.

I used it successfully in Hong Kong last summer. And Kuala Lumpur & Singapore. I think you'll be fine.

EagererBeaver

garion wrote: »

I used it successfully in Hong Kong last summer. And Kuala Lumpur & Singapore. I think you'll be fine.

Thanks but none of those are China proper. Shanghai is.

killbillvol2

EagererBeaver wrote: »

Anyone on here much experience in using it in China? I'll be in Shanghai and other parts of Jiangsu for ten days later this month.

I used it all over China. No issues.

towger

OmegaGene wrote: »

I’ve got the card and the account linked on my paypal

So did I just last week, but also after several failed attempts.
I had to change my name in PayPal to exactly match Revolut.
I.e. Patrick instead of Pat

EagererBeaver

killbillvol2 wrote: »

I used it all over China. No issues.

Great, thanks.

Marlow

tringle wrote: »

Conversion rate in Paypal, thanks all i will have a look
But the bill was in euro and my revolut card also in euro. Does that mean paypal reverts to sterling as i can see why else there should be a conversion, totally confused now.

PayPal can not see, what your Revolut card currency is. They go by the sort code or prefix, that is associated with the card. And because Revolut currently is UK based, that is always going to be the UK, so GBP is the default.

PayPal just goes by that "assumption" and ****s your over .. hence you need to manually make sure, that PayPal does not use their currency conversion.

/M

Bummer1234

EagererBeaver wrote: »

Anyone on here much experience in using it in China? I'll be in Shanghai and other parts of Jiangsu for ten days later this month.

Yea used mine no bother in china and hong kong last year myself with no hassle.

JoyPad

Marlow wrote: »

PayPal can not see, what your Revolut card currency is. They go by the sort code or prefix, that is associated with the card. And because Revolut currently is UK based, that is always going to be the UK, so GBP is the default.

PayPal just goes by that "assumption" and ****s your over .. hence you need to manually make sure, that PayPal does not use their currency conversion.

/M

It's easy to check this. Check your transaction log in the Revolut app, and see if there's a GBP amount listed on the transaction, right under the EUR amount.
If that is the case, then indeed, like Marlow said, PayPal charged your card a GBP amount, thinking your card is in GBP, and applying a stupid conversion rate that benefits them. Say, for a 100 euro amount, instead of charging 86 GBP, they charged 96 GBP, netting them 10 GBP. When the Revolut received a charge for 96 GBP, they took 111 EUR from your account, but should have also put the GBP amount right underneath in your transaction log.

tringle

Marlow wrote: »

tringle wrote: »

Conversion rate in Paypal, thanks all i will have a look
But the bill was in euro and my revolut card also in euro. Does that mean paypal reverts to sterling as i can see why else there should be a conversion, totally confused now.

PayPal can not see, what your Revolut card currency is. They go by the sort code or prefix, that is associated with the card. And because Revolut currently is UK based, that is always going to be the UK, so GBP is the default.

PayPal just goes by that "assumption" and ****s your over .. hence you need to manually make sure, that PayPal does not use their currency conversion.

/M

Thanks i have it changed now but having a love hate relationship with my card. Some vendors request the issuing country of the card, what is the anwer to that one.

Marlow

tringle wrote: »

Thanks i have it changed now but having a love hate relationship with my card. Some vendors request the issuing country of the card, what is the anwer to that one.

UK. But if you have to supply a billing address, then it is of course Ireland .. if you live in Ireland. Welcome to a world without borders, where vendors make you aware, that there are borders and they absolutely want to enforce such borders.

Sure .. the cards are prepped somewhere in Eastern Europe and shipped from there.

/M

jakdublin

So they've officially announced Apple Pay support in June. Ireland on the list. Looking forward to that.

Bummer1234

Was watching the revrally earlier in aswel...looking forward to the group vaults aswel which should be out in two weeks time.

jakdublin

Yeah, group vaults might be nice. Was there something about buying and selling stocks as well?

tringle

A group vault??? So we could have a family vault for holiday savings, great.

Bummer1234

tringle wrote: »

A group vault??? So we could have a family vault for holiday savings, great.

Yea...They where saying it you can have one admin of the group and the admin user will control users and see whats coming in and out. Looks good for saving.

Also you will be able to send money direct from the vault to your irish bank instead of having to stick it into your main revolut account then onto a bank.

troyzer

Bummer1234 wrote: »

tringle wrote: »

A group vault??? So we could have a family vault for holiday savings, great.

Yea...They where saying it you can have one admin of the group and the admin user will control users and see whats coming in and out. Looks good for saving.

Also you will be able to send money direct from the vault to your irish bank instead of having to stick it into your main revolut account then onto a bank.

I use my vaults for putting money away for direct debits. It would be nice if you could get Revolut to take from them directly for a given direct debit

Yggr of Asgard

troyzer wrote: »

I use my vaults for putting money away for direct debits. It would be nice if you could get Revolut to take from them directly for a given direct debit

Bunq offers you something like that by giving you several sub accounts with their own IBAN you can use for direct debits on them. Plus they tell you in advance about a direct debit coming.

Yggr of Asgard

I am disappointed that they did not launch the teased new premium card designs, they were some nice looking visa cards in the teasers in Instagram.