Revolut - Ultracheap FX (prepaid Mastercard)

punisher5112

DareGod wrote: »

Hey guys. I don't have a Revolut account yet but I am considering it. I hope you can appreciate that there are almost 9,000 posts in this thread so rather than going through all posts to find an answer (answers for which searching online has failed me) I'm going to just ask here if that's okay.

1. Do direct debits tend to go through successfully without issue, like they do when using regular Irish bank accounts? Or have there been any unusual issues reported with DDs?
2. Can a Revolut account be used seemlessly as a UK bank account, including to receive salary from a UK employer/bank into? Or have there been any problems with this?

Thanks.

You get a bic and IBAN and under EU law this is adequate for money to be put in from employment etc.

There has been a few issues here and there but I use the card for a good bit especially buying online from UK.

masterboy123

Is there a way I could top up my Revolut account with 200 Pounds and use it as required in Pounds? My account is in Euros.

Given Euro to Pounds conversion is good at the moment.

Aquos76

Top up in euro and convert it to sterling in the app, and move it to a vault if you want to start saving it.

adam88

Aquos76 wrote: »

Top up in euro and convert it to sterling in the app, and move it to a vault if you want to start saving it.

Or just disable your sterling wallet

Wheety

masterboy123 wrote: »

Is there a way I could top up my Revolut account with 200 Pounds and use it as required in Pounds? My account is in Euros.

Given Euro to Pounds conversion is good at the moment.

Do you have a sterling account? Simple and free to set one up. Then just convert some Euro to Sterling. Is spending pounds, it'll come from your sterling account first, if there's enough in it.

TheChizler

Or just top up in the equivalent amount of euro and let Revolut do the conversion as you spend. No need to complicate things.

masterboy123

But exchange rate from Euro to Pounds is good at the moment. Pound may become stronger in future.

TheChizler wrote: »

Or just top up in the equivalent amount of euro and let Revolut do the conversion as you spend. No need to complicate things.

RoYoBo

masterboy123 wrote: »

But exchange rate from Euro to Pounds is good at the moment. Pound may become stronger in future.

All indications are that the opposite is more likely.

killbillvol2

masterboy123 wrote: »

But exchange rate from Euro to Pounds is good at the moment. Pound may become stronger in future.

Do you read the news?

I'm not going to get into currency speculation but the prospects for the pound in the short to medium term are not for it to strengthen.

Cheshire Cat

masterboy123 wrote: »

But exchange rate from Euro to Pounds is good at the moment. Pound may become stronger in future.

I don't think that will happen any day soon.

TheChizler

masterboy123 wrote: »

But exchange rate from Euro to Pounds is good at the moment. Pound may become stronger in future.

Maybe, I thought you were going to spend in the immediate future

eeloe

Dardania wrote: »

If you’re like me, and aren’t afraid to have a balance on Revolut with auto top up etc, it’s fine.

The problem occurs when people match their balance precisely to the transaction amount.

Is there really any risks to holding a balance on revolut? what are the negatives to this?

Wheety

eeloe wrote: »

Is there really any risks to holding a balance on revolut? what are the negatives to this?

I tend to top up with €80 a week and have a bit of a balance all the time. I think it's fine. I wouldn't keep thousands in it.

BettePorter

Wheety wrote: »

eeloe wrote: »

Is there really any risks to holding a balance on revolut? what are the negatives to this?

I wouldn't keep thousands in it.

Just out of interest why ??

eeloe

eeloe wrote: »

Is there really any risks to holding a balance on revolut? what are the negatives to this?

I see no reason to be afraid of having a balance, between vaults etc id often have 4 figures in Revolut.

There is a bit of needless fear out there from some about holding money in it.

markc1184

I'm trying to order a standard physical card on the revolut app but each time as soon as I get to the address confirmation page it says "Something has gone wrong try again later". This has happened a few times yesterday and today. Is there something I'm doing wrong or a way to get this sorted?

Wheety

BettePorter wrote: »

Just out of interest why ??

Just because they're still quite new and don't have their bank licence set up yet. I know the underlying account is Llyods so the money should be safe.

Also, I just don't have it to spare.

Proper savings are in KBC earning 1.75%. I do have a few hundred in a vault though.

RandomUsername

I got scammed of ~ €800 in unauthorised transactions on Revolut about 2 years ago. I spoke to them on the chat for 5 mins and it all got refunded within 2 weeks. Your money is safe !

masterboy123

I have used my AIB card to top up 100 pounds. But paid 110.90 euros.
Is this the cheapest way to top up Revolut?

Wheety

masterboy123 wrote: »

I have used my AIB card to top up 100 pounds. But paid 110.90 euros.
Is this the cheapest way to top up Revolut?

Why did you top up in pounds? I'd imagine AIB will charge you for that.

Just top up your Euro account and then exchange it, if you want Sterling.

masterboy123

Because I was going to purchase something from UK in pounds and it gave error insufficient funds.
But I suppose I should have topped up Euro account. Mistake made!

Wheety wrote: »

Why did you top up in pounds? I'd imagine AIB will charge you for that.

Just top up your Euro account and then exchange it, if you want Sterling.

TheChizler

masterboy123 wrote: »

I have used my AIB card to top up 100 pounds. But paid 110.90 euros.
Is this the cheapest way to top up Revolut?

The entire point of Revolut is that you avoid your bank's FX fees by topping up in your bank's currency and let Revolut do the FX. Top up in your bank's currency, spend in the shop's local currency.

killbillvol2

masterboy123 wrote: »

Because I was going to purchase something from UK in pounds and it gave error insufficient funds.
But I suppose I should have topped up Euro account. Mistake made!

Three people told you that you were wrong about sterling on this thread but, not only did you put sterling on your card, you did it in the most expensive way possible, completely negating any benefit of Revolut?

Wheety

masterboy123 wrote: »

Because I was going to purchase something from UK in pounds and it gave error insufficient funds.
But I suppose I should have topped up Euro account. Mistake made!

You need to have the amount fully covered by one of your currencies. It'll check the merchant's currency first Sterling in this case, then your home currency, Euro. Then any other. But it won't mix and match.

You can leave all your money in Euro and allow Revolut to do the exchange. Happens automatically, don't need to do anything in the app or exchange first.

masterboy123

I have misinterpreted due to shortage of funds in EUR Revolut account. Learned my lesson now.
Cheers

killbillvol2 wrote: »

Three people told you that you were wrong about sterling on this thread but, not only did you put sterling on your card, you did it in the most expensive way possible, completely negating any benefit of Revolut?

adam88

masterboy123 wrote: »

I have used my AIB card to top up 100 pounds. But paid 110.90 euros.
Is this the cheapest way to top up Revolut?

Let that be a lesson. Always top up in the currency your card is in. Irish bank card, top up in euros

The high horse brigade

adam88 wrote: »

Let that be a lesson. Always top up in the currency your card is in. Irish bank card, top up in euros

This. And leave it in Euro, let Revolut convert it to whatever currency at the daily exchange rate

masterboy123

Good stuff. It's clear now.

Thanks a mill

punisher5112

It's easy to be caught out if you used the sterling vault for example last....
It will try and let you top up in sterling... Be aware and always take a second look.

tringle

Got a message this morning about scheduled maintenance but deleted it before i read the time and date. Anyone know when it is?