Revolut - Ultracheap FX (prepaid Mastercard)

tuff1

Satriale wrote: »

Is it because the revolut card is registering as a credit card not a debit card?

That's what I was thinking alright.

BOI charge 3.5% FX fees, so it's cheaper to take out smaller amounts on the debit card, and then hammer the large withdrawals onto the Revolut. Not sure if it's happening to anybody else, but just something to look out for if you're abroad!

Quackster

Satriale wrote: »

Is it because the revolut card is registering as a credit card not a debit card?

Yep, some countries' ATMs apply a surcharge to withdrawals using a credit card. Seems to be fairly common in Latin America.

Prezatch

Has anyone had issues trying to transfer money onto the card using the iPhone app? I'm using my AIB Visa Debit card and it brings me through to the 'verified by Visa' screen where I enter some digits to my password (which I know is correct). That seems to be successful so it goes back into the app and then says 'unknown error occurred'

Allyall

Do I have to order a new card for my new bank account?

I was under the impression that I didn't, but it's been causing me a headache for nearly two weeks now.
What I thought would be straight forward doesn't seem to be.

I think it'll be way easier to just order a new card.

physioman

tuff1 wrote: »

Not sure if this is happening to anyone else, but it's something to keep an eye on. I'm living in Puerto Rico at the moment and I've been using Revolut for the past few weeks.

When I withdraw cash from an ATM with my Revolut card it always charges me 3-5 dollars, but withdrawing cash from the same ATM with my BOI Visa Debit is free, but of course you're hit with FX fees. POS transactions remain free with the revolut card.

Was on holidays in Puerto Rico a month ago. All the banks charged 3 dollars. In us ,Philadelphia airporr there was no charge. You can use it in supermarkets, bars and restaurants in Puerto Rico for free. Do that or take out large amount in one go and get charged the 3 dollars

irishgeo

i verified with the new licence on the app with no issues

Arbie

tuff1 wrote: »

Not sure if this is happening to anyone else, but it's something to keep an eye on. I'm living in Puerto Rico at the moment and I've been using Revolut for the past few weeks.

When I withdraw cash from an ATM with my Revolut card it always charges me 3-5 dollars, but withdrawing cash from the same ATM with my BOI Visa Debit is free, but of course you're hit with FX fees. POS transactions remain free with the revolut card.

I withdrew cash several times at different machines in PR a few weeks ago and wasn't charged any fees.

bitethebullet

I'm having an issue on paypal where If i pay for goods and services say to the value of 400 euro it gives me a conversion rate from sterling on paypal. It's as if it thinks paypal now thinks my local currency is in sterling???

bitethebullet

I rang paypal and they say the issue is with the card provider

MiskyBoyy

Probably because the card is British...

Amouar

Did anyone else notice a lower FX rate for ATM withdrawals compared to POS transactions?

Corholio

Would people think this would be a good card to give as a gift card of a certain amount to spend online/withdraw from ATM if they so wish?

Any drawbacks to using it as this?

irishgeo

Corholio wrote: »

Would people think this would be a good card to give as a gift card of a certain amount to spend online/withdraw from ATM if they so wish?

Any drawbacks to using it as this?

if its a one time gift yes, otherwise they wont be able to topup it up as its tied to your phone.

MiskyBoyy

Corholio wrote: »

Would people think this would be a good card to give as a gift card of a certain amount to spend online/withdraw from ATM if they so wish?

Any drawbacks to using it as this?

It would be perfect as "pocket money" kind of thing for kids who want to buy games from xbox playstation etc. if you don't want your own card details on the systems.

mossy464

Just signed up and ordered a card. I'm heading to the UK for a weekend soon will I save a bit on the exchange by using this card?

Jayop

mossy464 wrote: »

Just signed up and ordered a card. I'm heading to the UK for a weekend soon will I save a bit on the exchange by using this card?

A little on the exchange rates, a lot on the ATM charges.

What I love about it is that you don't have to pull out a full wad when you first arrive and carry it with you for fear of being stung by the ATM several times. I was up the north last weekend, exchanged over to the penny in Euro what gave me the sterling I needed, converted it in the app and went to the ATM and withdrew it. Needed some more so I topped up again in the App from my current account, went to the ATM and pulled out more. No charges and a slightly better exchange rate.

One thing I will say is that your actual card will not work until you use it in an ATM so top it up twenty euro and withdraw it in Ireland first. Your PIN is found in the APP and can be changed from there.

Quackster

bitethebullet wrote: »

I'm having an issue on paypal where If i pay for goods and services say to the value of 400 euro it gives me a conversion rate from sterling on paypal. It's as if it thinks paypal now thinks my local currency is in sterling???

In PayPal you can have your payment card(s) setup to be either charged to in the currency of the transaction or have PayPal do the currency conversion (at a bumped-up exchange rate) and charge you in the currency of the card. PayPal obviously thinks your card is sterling as it's a UK card and is therefore trying to charge to it in sterling.

You need to turn off PayPal currency-conversion for your Revolut card and then it will be charged to in Euro (or whatever the transaction currency is).

Jayop

Quackster wrote: »

In Paypal you can have your payment card(s) setup to be either charged to in the currency of the transaction or have Paypal do the currency conversion (at a bumped-up exchange rate) and charge you in the currency of the card. Paypal obviously thinks your card is sterling as it's a UK card and is therefore trying to charge to it in sterling.

You need to turn off Paypal currency-conversion for your Revolut card and then it will be charged to in Euro (or whatever the transaction currency is).

Would it not be better to convert the money to sterlin in the app and then have them charge the card in Sterling. That way you know exactly what it's going to be before hand.

I did that for an Ebay sale a few days ago. Worked ok.

Quackster

Jayop wrote: »

Would it not be better to convert the money to sterlin in the app and then have them charge the card in Sterling. That way you know exactly what it's going to be before hand.

I did that for an Ebay sale a few days ago. Worked ok.

Yeah, if the transaction is in sterling but in the poster's case, the transaction is in Euro. Either way, PayPal currency-conversion must be switched off for Revolut to work properly with PayPal. The same goes for Amazon.

Jayop

Quackster wrote: »

Yeah, if the transaction is in sterling but in the poster's case, the transaction is in Euro. Either way, PayPal currency-conversion must be switched off for Revolut to work properly with PayPal. The same goes for Amazon.

Ah sorry, didn't spot the currency of the original thing was in Euro. I've only ever used PP to pay in Sterling so I jumped to that conclusion.

Aquos76

bitethebullet wrote: »

I'm having an issue on paypal where If i pay for goods and services say to the value of 400 euro it gives me a conversion rate from sterling on paypal. It's as if it thinks paypal now thinks my local currency is in sterling???

I had the very same problem and a phone call to paypal sorted out the issue for me. Just get them to set the card up to be charged in the currency of the seller.

Tar.Aldarion

Seems like we have a new contender, with a whole bank account for free.

Fintech start-up Number26, which has developed a current account specifically for the smartphone, will be available in Ireland from today.
The Berlin-based company is aiming to create a “borderless banking experience across Europe” and will launch its mobile-first bank account to Irish consumers today.
Signing up for an account takes place online via video chat in just eight minutes, and users can send money to friends via text message or email with just a few clicks.
The account is linked with a MasterCard that can be used worldwide to make purchases or receive cash at ATMs without incurring fees, or foreign transaction fees.
Number26 chief financial officer Maximilian Tayenthal said Ireland was chosen as the latest market to expand into as “the problems affecting banks in Europe, such as bureaucracy, outdated technology and inefficient structures, are well present” in the country.
“The markets we chose to enter now are perfect examples of a bad user experience and overpriced retail banking products,” he said.
Number26 chief executive Valentin Stalf said the expansion brings the total number of countries where Number26 is active to eight, following its initial launch in Germany and Austria earlier this year. The company is also launching in France, Greece, Italy, Slovakia and Spain today.
“Our vision from the start has been to build Europe‘s first bank account for the smartphone…we see traditional banks as having failed to adapt to the demands of the digital generation,” he said.
He added that all funds are protected under the German Deposit Protection Fund.
In just under a year, Number26 has become one of the most successful Berlin start-ups with more than 80,000 clients in Germany and Austria.
In April, the company raised a €10 million Series A round from Paypal founder Peter Thiel’s Valar Ventures, with Daniel S. Aegerter and existing investors Earlybird and Redalpine also participating.

http://www.irishtimes.com/business/financial-services/number26-to-launch-mobile-first-bank-account-in-ireland-1.2452262
https://number26.eu/bank-account/

Yggr of Asgard

Tar.Aldarion wrote: »

Seems like we have a new contender, with a whole bank account for free.


http://www.irishtimes.com/business/financial-services/number26-to-launch-mobile-first-bank-account-in-ireland-1.2452262
https://number26.eu/bank-account/

Number26 has the advantage of a full bank account behind it with it's own IBAN number rather than a debit card upload/bank transfer with reference number as with revolut.

They don't charge a currency fee for paying in any currency but as far as I know they use the Mastercard exchange rate as shown on
https://www.mastercard.com/global/currencyconversion/index.html

So for today they will have 0.714259 £ for 1€ and revolut offers 0.7191 £, so revolut is slightly better for larger orders plus the rate can change at any time.

However number26 has the advantage of being in the german bank protection scheme, so your money is safe, while with revolut it's just in a ring fenced account.

Number26 definitely makes sense for those looking for a free bank account with no foreign currency charges that they can manage online.

But for high rollers, there are spending limits on number26 like 4000€ maximum card usage online per month.

Plus the number26 just looks better as a card.

I just like the “The markets we chose to enter now are perfect examples of a bad user experience and overpriced retail banking products,” that the number26 guy said about Ireland.

Quackster

Yggr of Asgard wrote: »

Number26 has the advantage of a full bank account behind it with it's own IBAN number rather than a debit card upload/bank transfer with reference number as with revolut.

They don't charge a currency fee for paying in any currency but as far as I know they use the Mastercard exchange rate as shown on
https://www.mastercard.com/global/currencyconversion/index.html

So for today they will have 0.714259 £ for 1€ and revolut offers 0.7191 £, so revolut is slightly better for larger orders plus the rate can change at any time.

However number26 has the advantage of being in the german bank protection scheme, so your money is safe, while with revolut it's just in a ring fenced account.

Number26 definitely makes sense for those looking for a free bank account with no foreign currency charges that they can manage online.

But for high rollers, there are spending limits on number26 like 4000€ maximum card usage online per month.

Plus the number26 just looks better as a card.

I just like the “The markets we chose to enter now are perfect examples of a bad user experience and overpriced retail banking products,” that the number26 guy said about Ireland.

I notice the Number26 card is also contactless but I wonder does MasterCard support contactless in this country as as far as I'm aware, no Irish bank offers a contactless MasterCard.

But I guess there's only one way to find out. Signed up! 😁

Allyall

Quackster wrote: »

But I guess there's only one way to find out. Signed up! 😁

I did too. Luckily nobody was walking around naked behind the phone..

I wasn't expecting her to switch camera. Especially not to do it so quickly.
I thought I would've done that


Anyone else doing it, put something freaky in the camera view :pac:

selfbuilder1

The new Bank of Ireland credit card is a contactless MasterCard. I have used it and it has worked the same as my contactless debit card.

Corholio

Signed up for the card a while ago and in 'My Card' section it says it will be posted on '30 Dec' and Expected on 'Jan 08' :eek:

I'll surely get it before then right? It's needed for Christmas as part of a gift.

irishgeo

Allyall wrote:

I wasn't expecting her to switch camera. Especially not to do it so quickly. I thought I would've done that

Allyall wrote:

I did too. Luckily nobody was walking around naked behind the phone..

Allyall wrote:

Anyone else doing it, put something freaky in the camera view

What do you need to have to hand before you start?

Yggr of Asgard

irishgeo wrote: »

What do you need to have to hand before you start?

There is a thread for number26 here:
http://www.boards.ie/vbulletin/showthread.php?t=2057531467

The app will tell you what you need, but essentially it's a good smartphone (2 camera's) and you passport.

OldMrBrennan83

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