Revolut - Ultracheap FX (prepaid Mastercard)

troyzer

The statement from Revolut makes it clear that the CFO resigning also had nothing to do with the compliance issues. They claim nothing illegal happened and everything was in compliance.

If that's true, then it looks like incredibly unfortunate timing.

Dardania

troyzer wrote: »

The statement from Revolut makes it clear that the CFO resigning also had nothing to do with the compliance issues. They claim nothing illegal happened and everything was in compliance.

If that's true, then it looks like incredibly unfortunate timing.

If it’s true.

What’s not addressed is the working people to death topic, which is topical at the moment also

J_A_F_A

Dardania wrote: »

N26 for an account. Maybe Monese too.

For a good simple card (sans account) have a look at Curve

https://transferwise.com/ie is another option.

cmac2009

troyzer wrote: »

The statement from Revolut makes it clear that the CFO resigning also had nothing to do with the compliance issues. They claim nothing illegal happened and everything was in compliance.

If that's true, then it looks like incredibly unfortunate timing.

A PR statement - would you expect anything different. Of course they would deny any link.

troyzer

Dardania wrote: »

If it’s true.

What’s not addressed is the working people to death topic, which is topical at the moment also

It's awful but at the same time, this is fin tech in general. Do you think N26, Monese or fire are any better?

jakdublin

Dardania wrote: »

If it’s true.

What’s not addressed is the working people to death topic, which is topical at the moment also

In fairness, you could say the same about other tech companies including Apple as well as several high-end fashion brands. Seems to be the price of 21st century capitalism.

listermint

Dardania wrote: »

If it’s true.

What’s not addressed is the working people to death topic, which is topical at the moment also

Without being dramatic...

The world of fintech is known for throwing out outrageous salaries to grab talented IT candidates. It happens here too. It something i run up against in my role.

If people are duped by these huge salaries and think they are not going to be asked to work their absolute arses off then more fool them. Its not slavery, its a job. I wouldnt take one of those roles. But if people are complaining about the hours perhaps they should have opened their eyes in the first place and considering asking what the atmosphere was like to go with their wild salary offers.....

Amirani

troyzer wrote: »

It's awful but at the same time, this is fin tech in general. Do you think N26, Monese or fire are any better?

Fire are definitely better, speaking from personal experience.

By all accounts Monzo are pretty good. But that's just 2nd hand internet information.

troyzer

Amirani wrote: »

Fire are definitely better, speaking from personal experience.

By all accounts Monzo are pretty good. But that's just 2nd hand internet information.

Interesting that you're talking about Fire from personal experience.....so am I.....

Wheety

J_A_F_A wrote: »

https://transferwise.com/ie is another option.

Do they offer more than a money transfer function? Do you get a contactless card? A current account? Spaces or vault or pot or any other name for a separate place to store money away from the main account?

J_A_F_A

Wheety wrote: »

Do they offer more than a money transfer function? Do you get a contactless card? A current account? Spaces or vault or pot or any other name for a separate place to store money away from the main account?

If you follow the link provided and RTFM you can figure it all out for yourself. What do you expect me to do? Spell it out slowly for you?

Wheety

J_A_F_A wrote: »

If you follow the link provided and RTFM you can figure it all out for yourself. What do you expect me to do? Spell it out slowly for you?

Jaysus. I'm just wondering why you're recommending it

Dardania

J_A_F_A wrote: »

If you follow the link provided and RTFM you can figure it all out for yourself. What do you expect me to do? Spell it out slowly for you?

There's a few openings in Revolut for middle management positions - you should stick a CV in!

To OP: I personally wouldn't go for TransferWise as there are fees for FX and any transfers. Also the UI isn't where you expect if you're coming from revolut. There are a few reviews online you can check out.

With this FIRE one, is this the Irish account? Haven't encountered it myself but probably isn't available to non residents.

J_A_F_A

Wheety wrote: »

Jaysus. I'm just wondering why you're recommending it

Ahem. OK, sorry. I'm just offering it up as an alternative to Revolut. (I have an account and a contactless card but not used it much.)

Wheety

J_A_F_A wrote: »

Ahem. OK, sorry. I'm just offering it up as an alternative to Revolut. (I have an account and a contactless card but not used it much.)

I have Revolut and N26. I thought transferwise was just for sending money.

Looks like you might get a slightly better rate but there's a charge if you're sending money to another currency. So depending on the amount one or the other(Revolut) could be better.

jakdublin

Wheety wrote: »

I have Revolut and N26.

Love to know your thoughts on N26. Which one would you think is better?

Wheety

jakdublin wrote: »

Love to know your thoughts on N26. Which one would you think is better?

I prefer N26. Although I have been using Revolut as my main card for day to day spending as I like the spare change vault. Revolut app is better though and offers crypto currency if you're interested.

N26 has their full European banking licence so are a bit ahead of Revolut in that respect. It accepts direct debits although you may need to fill in a physical signed mandate for some suppliers.

Both have areas to save money, vaults in Revolut and spaces in N26 (restricted to 2 on the free account).

While Revolut allow you to withdraw €200 a month in atms for free, N26 allow 5 withdrawals. I don't know of a limit for each withdrawal or a total limit for the month.

Any specific questions?

5star02707

jakdublin wrote: »

Love to know your thoughts on N26. Which one would you think is better?

For holding multiple currencies esp if you main GBP - Revolut

If main account is Euro i would stick with N26. They use the Mastercard exchange rates. Apparently Revolut add a 0.5% markup to the interbank rate at weekends on 14 major currencies and a 1% markup for all others.

both are great to have but i usually use N26 between the two due to 5 monthly free withdrawals (resets monthly)

Revolut has a limit of 200 euro per month of withdrawals (resets monthly)

troyzer

jakdublin wrote: »

Love to know your thoughts on N26. Which one would you think is better?

Revolut has way more features and to be honest, is a completely different product.

N26 is basically a bank but less convenient albeit cheaper exchange rates.

Wheety

N26 also has a 1.7% markup for withdrawals in foreign currency.

N26 issues a proper Mastercard debit card which you can use with Apple and Google pay.

Revolut issue a prepaid debit card (as they are not yet a proper current account). They are issuing Visa cards to free accounts now and they are not currently supported by Apple or Google pay.

5star02707

Revolut CFO resigns as the company deals with money laundering reports


https://blog.revolut.com/let-me-sec-the-record-straight/

long_b

jakdublin wrote: »

Love to know your thoughts on N26. Which one would you think is better?

I use both - you can't use debit card to top up N26 account so I've to wait about half a working day for bank transfer from my main PTSB account to hit N26.

Feels awfully slow after instant Revolut top up

Wheety

long_b wrote: »

I use both - you can't use debit card to top up N26 account so I've to wait about half a working day for bank transfer from my main PTSB account to hit N26.

Feels awfully slow after instant Revolut top up

I moved money from Revolut to N26 this morning and it arrived in the afternoon too. It's a different product though and as with any Irish current account, bank transfers to them won't be instant.

With Revolut, you're just topping up a pre-paid debit card really. So it's the same as topping up any other reloadable pre-paid card. Although with an app with loads of functionality.

EagererBeaver

Wheety wrote: »

N26 also has a 1.7% markup for withdrawals in foreign currency.

N26 issues a proper Mastercard debit card which you can use with Apple and Google pay.

Revolut issue a prepaid debit card (as they are not yet a proper current account). They are issuing Visa cards to free accounts now and they are not currently supported by Apple or Google pay.

Revolut's MasterCard works with both.

Wheety

EagererBeaver wrote: »

Revolut's MasterCard works with both.

Yes, I have a Mastercard one but new users are being issued with the Visa on the free account.

EagererBeaver

Wheety wrote: »

Yes, I have a Mastercard one but new users are being issued with the Visa on the free account.

Interesting. I started with a MasterCard, then they gave me a visa. Then when the MasterCard expired they replaced it with another MasterCard.

Wheety

EagererBeaver wrote: »

Interesting. I started with a MasterCard, then they gave me a visa. Then when the MasterCard expired they replaced it with another MasterCard.

All on a free account? Maybe they've switch back to Mastercard.

I started with Mastercard and then they sent me a Visa one for free as apparently the Mastercard one wasn't working properly in London Underground so I have both.

ted1

jakdublin wrote: »

Love to know your thoughts on N26. Which one would you think is better?

I have both. I prefer Revolut apps much better especially for foreign currency

ted1

troyzer wrote: »

Revolut has way more features and to be honest, is a completely different product.

N26 is basically a bank but less convenient albeit cheaper exchange rates.

Revolut offers better exchange rates

troyzer

ted1 wrote: »

troyzer wrote: »

Revolut has way more features and to be honest, is a completely different product.

N26 is basically a bank but less convenient albeit cheaper exchange rates.

Revolut offers better exchange rates

The better exchange rates was compared to banks.