Revolut - Ultracheap FX (prepaid Mastercard)

OldMrBrennan83

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OldMrBrennan83

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Digiby

Can anyone edit their address in the profile page anymore with the latest version on Android?
I tap on the address or name but nothing happens.
Tapping on contact number or email will bring me to a page to edit those though. I hope this is a bug.

OldMrBrennan83

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OU812

Digiby wrote: »

Can anyone edit their address in the profile page anymore with the latest version on Android?
I tap on the address or name but nothing happens.
Tapping on contact number or email will bring me to a page to edit those though. I hope this is a bug.

I don't think you can edit the address. Money Laundering laws dictate there must be a valid address attached to any account. You probably have to contact them to do it, rather than being able to do it yourself all the time.

Patww79 wrote: »

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Delete the app & re-install. the issue is obviously with you. I did a top up last night no problems.

loopymum

I set up an account last night and topped up, very simple to use. Thanks op

maximoose

Preferred the old UI, this one looks washed out and clunky IMO. Fonts way too big.

show me the money.1

verify my identity is processing since Monday and the support section doesn't seem to be working for me!

Yggr of Asgard

maximoose wrote: »

Preferred the old UI, this one looks washed out and clunky IMO. Fonts way too big.

Agreed and this big "send" button in the lower menu is horrible, I know some people use this as money transfer app but clearly most people use this as multi currency card, they are trying to push their "send" to much on me with this update.

maximoose

Ugh. Went to pay for my lunch there and payments were declined.

Went into the app, went to "My Card" and the update appears to have deleted my card details and unlinked my account. Trying to link my card now and just keep getting "unknown error occurred".

Made a right balls of this they have.

Bummer1234

show me the money.1 wrote: »

support section doesn't seem to be working for me!

I raised a question with them monday,About errors im getting about "unknown error occurred" on screen when trying to top up and money that hasn't been transferred over. Then yesterday at 3 they got backed to me saying "have you cleared cache and data of the app"...I am on ios if anyone can inform me how i do that....

Anyway...I replied back to them on asking them how and nothing since, I have asked them last night for a update and again this morning but nothing....

Looks like the support section on the app is next to useless....

GreatDefector

2nd update on play store now...

Looks like there must be issues if they've released 2 updates in 24hrs

Edit: 4 updates excluding the initial 2.0 release

oinkely

Quick question on this one.

Just purchased something on amazon for £14.99 using my revolut card number. My balance is all in . Do I need to transfer to £ or do revolut just take it from my € balance?

thanks

maximoose

It will deduct from your € balance

whatawaster

We do a fair bit of buying and selling of FX in work, and we use a firm in London to handle these trades. I was talking to one of their managers yesterday and we were chatting away and I mentioned I was heading to the States next week.

He asked me had I bought my dollars yet. I said no, and explained about Revolut. He hadn't heard of it. I logged on to my app and told him the current Euro/Dollar rate available.

When he heard it, there was deathly silence.

He said "My company couldn't get that rate for a multi-million dollar trade, let alone pass it on to a customer, no matter how big."

These guys are much much cheaper than any of the banks.

Goes to show what a fantastic product this is. Hopefully it lasts!

thewheel2.0

whatawaster wrote: »

We do a fair bit of buying and selling of FX in work, and we use a firm in London to handle these trades. I was talking to one of their managers yesterday and we were chatting away and I mentioned I was heading to the States next week.

He asked me had I bought my dollars yet. I said no, and explained about Revolut. He hadn't heard of it. I logged on to my app and told him the current Euro/Dollar rate available.

When he heard it, there was deathly silence.

He said "My company couldn't get that rate for a multi-million dollar trade, let alone pass it on to a customer, no matter how big."

These guys are much much cheaper than any of the banks.

Goes to show what a fantastic product this is. Hopefully it lasts!

I love Revolut, but I wonder is it a start-up type thing that will implode.

OldMrBrennan83

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Allyall

It's just after taking off in France.

How do they make money?

The cards and posting them must cost a small fortune alone.

Is it just having everyones money, gaining interest?

..and investing it?

Amouar

Allyall wrote: »

It's just after taking off in France.

How do they make money?

The cards and posting them must cost a small fortune alone.

Is it just having everyones money, gaining interest?

..and investing it?

How does Revolut make money?
We earn a nominal fee paid to us by merchants every time you use Revolut Card.

We reserve the right to review our pricing structure after the first 12 months of your use of the Revolut service. We do not anticipate any significant changes. Revolut was launched to offer a fair and transparent service. It has been designed to offer the best value and the best user experience. There are no hidden fees to our users.

Yggr of Asgard

Amouar wrote: »

Allyall wrote: »

It's just after taking off in France.

How do they make money?

The cards and posting them must cost a small fortune alone.

Is it just having everyones money, gaining interest?

..and investing it?

How does Revolut make money?
We earn a nominal fee paid to us by merchants every time you use Revolut Card.

We reserve the right to review our pricing structure after the first 12 months of your use of the Revolut service. We do not anticipate any significant changes. Revolut was launched to offer a fair and transparent service. It has been designed to offer the best value and the best user experience. There are no hidden fees to our users.

That was before the EU capped the interchange fee at 0.3%.

It's one thing to start this with 1.9% or even higher but to keep it alive with the new low fee is a completely different story. I am only keeping what I intend to spend on the card, even with segregation of funds better safe than sorry.

Sooner or later they need to introduce spreads or fees to survive.

Jayop

I'd image they make a fair whack on interest too. I would normally have around €50 sitting on my revolut card, if everyone did that then they would be earning a lot of interest on that money. They have very little overheads compared to a traditional bank, low staffing, no local offices, no bad debts to write down. The interest as well as the merchant fee will probably earn them a nice amount.

Yggr of Asgard

Jayop wrote: »

I'd image they make a fair whack on interest too. I would normally have around €50 sitting on my revolut card, if everyone did that then they would be earning a lot of interest on that money. They have very little overheads compared to a traditional bank, low staffing, no local offices, no bad debts to write down. The interest as well as the merchant fee will probably earn them a nice amount.

In times of negative interest rates I seriously don't think that having money in segregated account with Natwest is earning them anything.

Jayop

Yggr of Asgard wrote: »

In times of negative interest rates I seriously don't think that having money in segregated account with Natwest is earning them anything.

Maybe not. I don't really know and was only speculating.

djmarkus

Anyone got the "verify my identity" piece to work?

Sono

djmarkus wrote: »

Anyone got the "verify my identity" piece to work?

Yep, had awful problems a few weeks ago, all corners went green just nothing happened, then I tried it this week and it took 2 seconds

Crann na Beatha

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GreatDefector

JT26 wrote: »

Hi guys, I live in Canada, is this app worth it for us over here?

Even if you live on the Galapagos Islands it's more than worth it...

Crann na Beatha

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insullation

JT26 wrote: »

Will work with Canadian bank accounts/ cards?

Probably but could cost you a lot to transfer money to the revolut card from Canadian bank account...your canada bank would probably apply a big Swift charge as it would be an international transfer...so ask your bank how much it cost

Johnny_Fontane

Yggr of Asgard wrote: »

That was before the EU capped the interchange fee at 0.3%.

It's one thing to start this with 1.9% or even higher but to keep it alive with the new low fee is a completely different story. I am only keeping what I intend to spend on the card, even with segregation of funds better safe than sorry.

Sooner or later they need to introduce spreads or fees to survive.

This is a company that is heavily backed by a leading venture capital company. Think of it. If they any sort of traction in this market (which I believe they may have) and become one of the leading money cards, they will be bought for hundreds of millions. Everybody always thinks, how can they make money, but you're thinking of it the wrong way. Its all about the subscribers at this stage, big revenues will come later.