Revolut - Ultracheap FX (prepaid Mastercard)

mel123

Lads, i cant read through the whole thread.
When this thread started i jumped on the bandwagon. Now im going on holidays, i said i better check all is in order.
So i discover that to take money out, anything after €200 a month abroad, there is a 2% fee on. Sure i might as well use my BOI card which is 3% the difference will be pretty minimal and for the hassle of doing transfers.
Then 'if you make a cross-currency transfer you'll be charged 0.5% on any amount exceeding your free foreign exhange allowance'.

So, Revoult for dummies (me), all my online shopping in difference currencies, im actually getting charged by revolut, is that correct? Once ive gone over 200€ in a month, i then start getting charged in the background?!?

Sorry for stupidity just want to make sure i have it right.

bromley52

mel123 wrote: »

Lads, i cant read through the whole thread.
When this thread started i jumped on the bandwagon. Now im going on holidays, i said i better check all is in order.
So i discover that to take money out, anything after €200 a month abroad, there is a 2% fee on. Sure i might as well use my BOI card which is 3% the difference will be pretty minimal and for the hassle of doing transfers.
Then 'if you make a cross-currency transfer you'll be charged 0.5% on any amount exceeding your free foreign exhange allowance'.

So, Revoult for dummies (me), all my online shopping in difference currencies, im actually getting charged by revolut, is that correct? Once ive gone over 200€ in a month, i then start getting charged in the background?!?

Sorry for stupidity just want to make sure i have it right.

As far as I'm aware the €200 limit is only for ATM cash withdrawals.

msmx5

mel123 wrote: »

Lads, i cant read through the whole thread.
When this thread started i jumped on the bandwagon. Now im going on holidays, i said i better check all is in order.
So i discover that to take money out, anything after €200 a month abroad, there is a 2% fee on. Sure i might as well use my BOI card which is 3% the difference will be pretty minimal and for the hassle of doing transfers.
Then 'if you make a cross-currency transfer you'll be charged 0.5% on any amount exceeding your free foreign exhange allowance'.

So, Revoult for dummies (me), all my online shopping in difference currencies, im actually getting charged by revolut, is that correct? Once ive gone over 200€ in a month, i then start getting charged in the background?!?

Sorry for stupidity just want to make sure i have it right.

If you don't want to read through the whole thread (which is a bit daunting!) try your revolut app! .... open your app and in the "more" section select "Profile" then click on "Price Plan" Its a good reference place for charges.

So basically you'll find the €200 per month "limit" only applies to ATM withdrawals, card transactions are free (tap and go / chip & pin etc) and you have €6k per month of FX transactions before incurring a 0.5% fee.

So it is still a lot cheaper than your BOI card.

makeorbrake

Have not been using Revolut for many months but now have a use case again. Have 2 new cards (new as in unused but have been gathering dust for months).


Is the deal that I have to use the APP PIN with them to activate first time round - or I use the card PIN?

Do i have to use via a chip and pin purchase to start off with before they will work in a cash machine?

Tried cash machine with both - and no dice.

igCorcaigh

makeorbrake wrote: »

Have not been using Revolut for many months but now have a use case again. Have 2 new cards (new as in unused but have been gathering dust for months).


Is the deal that I have to use the APP PIN with them to activate first time round - or I use the card PIN?

Do i have to use via a chip and pin purchase to start off with before they will work in a cash machine?

Tried cash machine with both - and no dice.

Download the app and register the card and then either cash withdrawal or chip and pin. Review security settings in the app. E.g. Contactless might be disabled by default.

makeorbrake

igCorcaigh wrote: »

Download the app and register the card and then either cash withdrawal or chip and pin. Review security settings in the app. E.g. Contactless might be disabled by default.

Cash withdrawal not working. I'll try an different bank/machine and failing that, I'll try a chip and pin purchase rather than ATM.

-=al=-

I think even changing the pin number from an atm might work

makeorbrake

-=al=- wrote: »

I think even changing the pin number from an atm might work

I'm not sure if it was the first bank/atm or fiddling around with the app - but tried it in another atm/bank and followed up with a chip and pin transaction also - up and running again.

mel123

mel123 wrote: »

Lads, i cant read through the whole thread.
When this thread started i jumped on the bandwagon. Now im going on holidays, i said i better check all is in order.
So i discover that to take money out, anything after €200 a month abroad, there is a 2% fee on. Sure i might as well use my BOI card which is 3% the difference will be pretty minimal and for the hassle of doing transfers.
Then 'if you make a cross-currency transfer you'll be charged 0.5% on any amount exceeding your free foreign exhange allowance'.

So, Revoult for dummies (me), all my online shopping in difference currencies, im actually getting charged by revolut, is that correct? Once ive gone over 200€ in a month, i then start getting charged in the background?!?

Sorry for stupidity just want to make sure i have it right.

Firstly BOIs fee is 3.5% and there is a min charge of 3.17 euro.

It takes about 5 seconds to top up the card in the app, your card details are saved and all so its hardly hassle. Also you could just transfer over plenty of money so you are covered for a few days or even your entire trip if you dont want to do regular top ups.

I'd rather pay nothing for the first 200 and then keep 1.5% in my pocket for higher withdrawals . You will also likely get a worse exchange rate on your BOI card so you will be worse off again. It very much adds up, 7 euro for every 200 euro withdrawal on your BOI card.

Best thing to do is use debit card everywhere and try to only take out 200 euro in cash thus maximising savings.

Fanny Wank

I've used the "current account" facility to withdraw from TopCashBack. Now trying to get UK share dividends paid. Think is I'm being asked for the name of the bank (appears to be Barclays) and an address (haven't a notion)

Anyone any ideas?

Yggr of Asgard

Fanny **** wrote: »

I've used the "current account" facility to withdraw from TopCashBack. Now trying to get UK share dividends paid. Think is I'm being asked for the name of the bank (appears to be Barclays) and an address (haven't a notion)

Anyone any ideas?

Try https://www.sortcodes.co.uk/ which gives you all the details.

The individual account number is no longer Barclays, they are now prepay technology services numbers.

Fanny Wank

Yggr of Asgard wrote: »

Try https://www.sortcodes.co.uk/ which gives you all the details.

The individual account number is no longer Barclays, they are now prepay technology services numbers.

Brilliant that worked. Thanks

MickH503

Fanny **** wrote: »

Brilliant that worked. Thanks

How do you decode your Sort Code from the IBAN? I thought it was the 6 digits after REVO, but it comes up as invalid in that website.

MickH503

Has anyone successfully completed a transfer from a US financial institution to their Revolut account? The US banks don't seem to like using IBAN/BIC in the instructions.

Arbie

MickH503 wrote: »

Has anyone successfully completed a transfer from a US financial institution to their Revolut account? The US banks don't seem to like using IBAN/BIC in the instructions.

EDIT: Sorry, I misread your question. No, I have not been able to do it FROM US bank to Revolut.

Last week for the 1st time I was able to transfer from Revolut to Bank of America. BofA has several different types of incoming wire transfer code and I had to use the ACH code, which was a bit trickier to find, but it worked perfectly, arrived within 2 days.

Bizarrely I wasn't charged any fees by BofA. Usually they charge $16.

The Ayatolla

MickH503 wrote: »

Has anyone successfully completed a transfer from a US financial institution to their Revolut account? The US banks don't seem to like using IBAN/BIC in the instructions.

No joy, and Revolut support have no answer either.

Yggr of Asgard

Arbie wrote: »

Bizarrely I wasn't charged any fees by BofA. Usually they charge $16.

You used the ACH system which is usually free. The 16$ is the BofA fee for incoming wire transfers. Revolut does use the ACH method which is why you needed that ABA instead of the Wire transfer ABA.

Yggr of Asgard

MickH503 wrote: »

Has anyone successfully completed a transfer from a US financial institution to their Revolut account? The US banks don't seem to like using IBAN/BIC in the instructions.

It depends on your US Bank, if they are a member of swift you should not have an issue to arrange an international wire transfer with the IBAN/BIC combination.

If your bank is not part of swift they usually require intermediary banking details which do not exist for Revolut.

So you need to talk to your bank as to how to do an international wire transfer.

Yggr of Asgard

MickH503 wrote: »

Fanny **** wrote: »

Brilliant that worked. Thanks

How do you decode your Sort Code from the IBAN? I thought it was the 6 digits after REVO, but it comes up as invalid in that website.

It depends on which Iban you mean.

But in any case there should not be a need for you to do so as the only country still using sort codes would be the UK and for £ payments you get a local account number and sort code show in the app. The £ Iban is only for non UK payers and requires a reference number.

Fanny Wank

MickH503 wrote: »

How do you decode your Sort Code from the IBAN? I thought it was the 6 digits after REVO, but it comes up as invalid in that website.

Sort code is 23-69-72 for me. I believe it is for all Revolut accounts. I can see both account number and sort code when I go to "accounts"

J_A_F_A

Fanny **** wrote: »

Sort code is 23-69-72 for me. I believe it is for all Revolut accounts. I can see both account number and sort code when I go to "accounts"

That's only for your Sterling acc.

noel100

MickH503 wrote:

How do you decode your Sort Code from the IBAN? I thought it was the 6 digits after REVO, but it comes up as invalid in that website.

Last 8 digits is account no.
6 digits before last 8 is sort code

noel100

MickH503 wrote:

Has anyone successfully completed a transfer from a US financial institution to their Revolut account? The US banks don't seem to like using IBAN/BIC in the instructions.

Tried a transfer from brokerage firm wouldn't allow me as iban and have c were referring UK and was referring to Ireland.

MickH503

Fanny **** wrote: »

Sort code is 23-69-72 for me. I believe it is for all Revolut accounts. I can see both account number and sort code when I go to "accounts"

Thanks. i don't see Sort code ... under "Local" I see IBAN and BIC only and under "Swift" I see the reference (account number) and a different IBAN and BIC and address for Lloyds Bank in London.

MickH503

noel100 wrote: »

Tried a transfer from brokerage firm wouldn't allow me as iban and have c were referring UK and was referring to Ireland.

That's exactly what I want to do!

Wheety

MickH503 wrote: »

Thanks. i don't see Sort code ... under "Local" I see IBAN and BIC only and under "Swift" I see the reference (account number) and a different IBAN and BIC and address for Lloyds Bank in London.

As said above, the last 8 digits of an IBAN are the account number and the 6 before that are the sort code.

Lukker-

What do people put down for Bank Name and Bank Branch when doing things with UK accounts? Usually account number and sort code are enough but some require more info.

Dardania

Lukker- wrote: »

What do people put down for Bank Name and Bank Branch when doing things with UK accounts? Usually account number and sort code are enough but some require more info.

I usually put Revolut, and their address in Canary Wharf (although I've a feeling they've moved since last time I had to put down an address)

TheChizler

Lukker- wrote: »

What do people put down for Bank Name and Bank Branch when doing things with UK accounts? Usually account number and sort code are enough but some require more info.

You can get all the details here.

https://www.boards.ie/vbulletin/showpost.php?p=108270007&postcount=6201

NabyLadistheman

How do people transfer to the card? I topped up using Apple Pay on my phone & it said the fee was €0. Will AIB charge me a banking fee?

Sorry for the noob questions, I've read through the thread to get a better understanding. Do you transfer a large portion of your wages to the card then just use that for the month?