Revolut - Ultracheap FX (prepaid Mastercard)

ppn

I'm a little confused by the functionality of Revolut tbh. Information overload from reading the start of the thread I think.
Anyway, I will be using the app for online purchases from the UK so; a) if I just top up by Euro, I assume I can pay in STG and Revolut will then apply their exchange rate?, and b) if I add the Revolut virtual card to my PayPal, will the same procedure apply here as long as I bypass the exchange rate from PayPal?

Hope that makes sense. Any help would be greatly appreciated!

Marhay70

listermint wrote: »

Op you have to press specific currency option on the machine.

This is nothing to do with revolut it's on you.

You did it wrong. Same as the guy in Italy above.

I was presented with a chip and pin machine the same way as I would be in Tesco., The currency quoted on the machine was Euros, the currency of the country I am currently staying in is Euros. Why the fcuk would Sterling enter the equation.?

Lucas Hood

You don't seem confused at all.

That is exactly what revolut is good for.

antodeco

Marhay70 wrote: »

I was presented with a chip and pin machine the same way as I would be in Tesco., The currency quoted on the machine was Euros, the currency of the country I am currently staying in is Euros. Why the fcuk would Sterling enter the equation.?

Just to check, is your euro or sterling balance that's positive in your account?

ppn

Lucas Hood wrote: »

You don't seem confused at all.

That is exactly what revolut is good for.

Ok, well if that's the way it works, then perfect. Seems straightforward enough! Just the app threw me a bit when you have the option to have a GBP or € account... Thanks

OmegaGene

ppn wrote: »

Ok, well if that's the way it works, then perfect. Seems straightforward enough! Just the app threw me a bit when you have the option to have a GBP or € account... Thanks

Just an option to have several currencies at once is all, let Revolut do the hard work and just buy buy buy

ppn

OmegaGene wrote: »

Just an option to have several currencies at once is all, let Revolut do the hard work and just buy buy buy

Maybe a stupid question(s); do you have to top up say a GBP or USD account in those currencies or can you use Euro and convert or transfer within app?

Nigel Fairservice

ppn wrote: »

Maybe a stupid question(s); do you have to top up say a GBP or USD account in those currencies or can you use Euro and convert or transfer within app?

Just top up in €. Let Revolut do the conversion.

Marhay70

antodeco wrote: »

Just to check, is your euro or sterling balance that's positive in your account?

Euro, Sterling and Dollar balances are all positive with there being more of Sterling.
I know what you're thinking, they picked the currency with the most balance but that doesn't make sense when the Revolut card is linked to my bank account which has a substantially higher balance and doesn't require a currency conversion. If you were to follow that to its logical conclusion, I'd be paying in Sterling in Aldi.

OmegaGene

ppn wrote: »

Maybe a stupid question(s); do you have to top up say a GBP or USD account in those currencies or can you use Euro and convert or transfer within app?

You load up with euro and Revolut will convert into whatever currency you spend automatically.
The option to exchange currency is there if you want to take advantage in a dip in foreign currency for example the lira dropped a while back and I bought some to take advantage of it forturkish Netflix

duffman13

Marhay70 wrote: »

Euro, Sterling and Dollar balances are all positive with there being more of Sterling.
I know what you're thinking, they picked the currency with the most balance but that doesn't make sense when the Revolut card is linked to my bank account which has a substantially higher balance and doesn't require a currency conversion. If you were to follow that to its logical conclusion, I'd be paying in Sterling in Aldi.

Might have already answered this but did your euro balance have enough to cover the entire transaction?

I was in Portugal the weekend and it prompted a sterling conversion on atm withdrawals which was weird when my only balance was euros

Jeff2

Selah Chilly Teflon wrote: »

Very disappointed with Revolut after all of the good things I have heard. Can't add international beneficiaries for Bank Transfers. It is a known issue that has been around for over a year and has not been resolved.

https://community.revolut.com/t/cannot-add-a-new-beneficiary-in-android-app/29902

You can't to do that with AIB as far as I know.

Jeff2

ppn wrote: »

Maybe a stupid question(s); do you have to top up say a GBP or USD account in those currencies or can you use Euro and convert or transfer within app?

Confusing.
You top in € and choose what currency to convert to in app.

On the weekend it cost you.

OmegaGene

Jeff2 wrote: »

Confusing.
You top in € and choose what currency to convert to in app.

You don’t have to convert at all, Revolut does it all for you

Jeff2

OmegaGene wrote: »

You don’t have to convert at all, Revolut does it all for you

So I buy something an amazon UK and pay in GBP Revolut does the transaction from euro to GBP rather than Amazon.?

Marhay70

duffman13 wrote: »

Might have already answered this but did your euro balance have enough to cover the entire transaction?

I was in Portugal the weekend and it prompted a sterling conversion on atm withdrawals which was weird when my only balance was euros

No, the Euro balance on the card would not have covered e purchase but I was in a Euro country and the Revolut card is linked to my current account. If you were to follow that logic then every time yo u made a purchase. in your local Tesco which exceeded your Euro balance, it would be paid for in whichever currency had the highest balance in your account.
If that is indeed what happened then I think it's at very least an act of bad faith on the part of Revolut and would make me reconsider my use of the service, but of course finding out if that is the case is my problem at the moment.

thehamo

Marhay70 wrote: »

No, the Euro balance on the card would not have covered e purchase but I was in a Euro country and the Revolut card is linked to my current account. If you were to follow that logic then every time yo u made a purchase. in your local Tesco which exceeded your Euro balance, it would be paid for in whichever currency had the highest balance in your account.
If that is indeed what happened then I think it's at very least an act of bad faith on the part of Revolut and would make me reconsider my use of the service, but of course finding out if that is the case is my problem at the moment.

If you didn't have enough euro balance to pay the goods what way would you have it, decline the card?

The way I see it, you have money in your account albeit in different currencies. The currency you wanted to use was insufficient so they went to the next best available source of money which was your sterling balance.

Jeff2

I know they're busy because of latest news but in app I'm asked to verify my email and can't get an email after going through the process.

I went through ask community in app but mod needs to allow you post first.

I took the money out and nothing going until sorted.

What if my email address is not verified and I'v money there.?

Wheety

Jeff2 wrote: »

So I buy something an amazon UK and pay in GBP Revolut does the transaction from euro to GBP rather than Amazon.?

Yes. Pay in sterling on Amazon. They don't need to know you only have Euro on your Revolut account.

When I added my Revolut card to my Amazon account I was able to mark it as 'This card is in sterling'.

MarkY91

Selah Chilly Teflon wrote: »

Very disappointed with Revolut after all of the good things I have heard. Can't add international beneficiaries for Bank Transfers. It is a known issue that has been around for over a year and has not been resolved.

https://community.revolut.com/t/cannot-add-a-new-beneficiary-in-android-app/29902

I added one no problem before

Wheety

Marhay70 wrote: »

the Revolut card is linked to my current account.

What do you mean by this? Auto top up?

OmegaGene

Jeff2 wrote: »

So I buy something an amazon UK and pay in GBP Revolut does the transaction from euro to GBP rather than Amazon.?

Select pay in gbp and Revolut does all the work for you it’s that easy

Marhay70

Wheety wrote: »

What do you mean by this? Auto top up?

No, but if I make purchases in Euros in Ireland, no matter what value, using my Revolut card, and I often do, then the balance on the card is never touched, the amount is paid straight from my account. The Euro balance on my account hasn't changed in years and when I think of it now it does seem an odd thing. If only I could get in touch with Revolut to find out how. which is why I asked the question in the first place.😀
I think I'm seeing a whole other problem now and the Sterling conversion doesn't seem to be the biggest now.
At the very outset, if my memory serves, there were all sorts of incentives to join Revolut including linking a bank a/c. I've had several cards since then and it just doesn't make sense that my balance wouldn't have changed.
Thank you guys for asking the intelligent questions and getting my lazy brain off its parse and working. I'm going to have to ferret around a little bit more to solve this.

Wheety

I've never heard of that. I top up first before I can buy anything.

ted1

Happened me inthecdpar oppisite Connolly station.
The machines pick up the card is issued by Lloyd’s and assumes it’s a sterling card

shanec1928

Marhay70 wrote: »

I was presented with a chip and pin machine the same way as I would be in Tesco., The currency quoted on the machine was Euros, the currency of the country I am currently staying in is Euros. Why the fcuk would Sterling enter the equation.?

Cause the card is sterling based. Revolut are a uk based company that’s why

Phileas Frog

ted1 wrote: »

Happened me inthecdpar oppisite Connolly station.
The machines pick up the card is issued by Lloyd’s and assumes it’s a sterling card

This

RiseToMe

Marhay70 wrote: »

No, but if I make purchases in Euros in Ireland, no matter what value, using my Revolut card, and I often do, then the balance on the card is never touched, the amount is paid straight from my account. The Euro balance on my account hasn't changed in years and when I think of it now it does seem an odd thing. If only I could get in touch with Revolut to find out how. which is why I asked the question in the first place.😀
I think I'm seeing a whole other problem now and the Sterling conversion doesn't seem to be the biggest now.
At the very outset, if my memory serves, there were all sorts of incentives to join Revolut including linking a bank a/c. I've had several cards since then and it just doesn't make sense that my balance wouldn't have changed.
Thank you guys for asking the intelligent questions and getting my lazy brain off its parse and working. I'm going to have to ferret around a little bit more to solve this.

I've been with Revolut since the very very start and accounts linked etc however it has always been a "prepay" card, ie it needs to be topped up beforehand. The way the card works is it will "seek" the value of the item (eg. €80) from the appropriate wallet on the card, in this Euro wallet, if you don't have enough there it will go to the next available currency, in your case sterling. Or visa versa.

I know you've said you've never topped up and it comes directly from your current account (I presume aib, ptsb etc account) however this is NOT how Revolut is designed to work so you have a much larger issue here.

troyzer

We.
Need.
A.
Sticky.
FAQ.

OmegaGene

FAQ is already on Revolut app but people are lazy

Open Revolut app, select help, select explore Revolut
If the answer isn’t there then hop onto chat the staff are very helpful