Revolut - Ultracheap FX (prepaid Mastercard)

pleasant Co.

thewheel2.0 wrote: »

Do people really bother to go to these lengths to avoid the €5 charge?

It's €5 over the course of a year, of all taxes to complain about...

It'd be a bit strange to find someone posting in this thread in a disgruntled manner regarding motor tax wouldn't it, as that'd be well and truly unrelated to the thread topic.

Yggr of Asgard

Delta2113 wrote: »

It's only a few month's away - they really should update their terms and conditions. I've been using the card to withdraw cash as a possible way around the 12 cent charge. If they look for €5 I might just close the account like I did with N26.

I don't think they are going to charge 5€, if so they would need to change their T&C and you would have the right to cancel.

However using any card that uses your Irish address at an ATM in Ireland is liable for the ATM Stamp Duty, independent where the issuing bank sits. The tax is on residents even if the bank sits outside Ireland.

So they very well can charge you the 12 cent per withdraw up to 5€.

For example my German bank when questioned informed me that they pay revenue the tax but have no ability to charge me (system problem) so I'm fine with that one. But in theory they have to charge me the ATM charge and in case of my credit card also the 30€.

And with the attention Revolut is getting you can be sure that if they don't make the return in time, that Revenue is going to ask them for a return. If they than charge you or take the hit is a different story.

yoshimitsu

emmetkenny wrote: »

Has Revolut even been around two years?

Apologies went by memory. I signed up when the BA first came out here, felt longer than that. The rest of the story is accurate, can post screenshots of the chat conversation if it helps.
Was just meant as a heads-up for others. Will continue to use it as I value the currency conversion rates and inherent security of having a limited balance on it. But will be a lot more vigilant with regards to debit/credit going fwd.

2 asides if I may:
1. keeping limited balance to sleep well at night is a good idea but part of the attractiveness of the card (IMO) was also to take advantage of big FX swings to get good rates. Case in point these days the GBP is under renewed stress due to Brexit speculation/uncertainty. Would've be nice to have a trustworthy way of converting €500 today at a good rate and using it in the future for travel or as you find (useless) things to purchase on Amazon et al.
2. does anybody know if they will be shipping out contactless cards anytime soon? I tried asking support a while back and they were still on back order. Would be useful to pay for the Tube in London

Cortina_MK_IV

@yoshimitsu - I've had my contactless card since June.

yoshimitsu

Cortina_MK_IV wrote: »

@yoshimitsu - I've had my contactless card since June.

cheers, will try my luck again with support (after having abused them on the chat!!)

EagererBeaver

yoshimitsu wrote: »

cheers, will try my luck again with support (after having abused them on the chat!!)

They said they'd push them out to existing customers in due course, presumably free of charge. If urgent, you can pay for one as a replacement card.

Cortina_MK_IV

I should point out that my knowledge of finance is somewhere between ballet dancing and the mating habits of the duck-billed platypus. I am sailing close to the wind this month but I was thinking of lobbing a few hundred into Revolut today to change to Sterling (currently £100 = €111.360) instead of topping up by CC. This will take me into my overdraft till the 15th when I get paid. So better off dipping into overdraft instead of CC?

noel100

Cortina_MK_IV wrote: »

I should point out that my knowledge of finance is somewhere between ballet dancing and the mating habits of the duck-billed platypus. I am sailing close to the wind this month but I was thinking of lobbing a few hundred into Revolut today to change to Sterling (currently £100 = €111.360) instead of topping up by CC. This will take me into my overdraft till the 15th when I get paid. So better off dipping into overdraft instead of CC?

The trend is further weakness in pound so you might lock yourself in and lose on the down trend while paying interest for doing so.
Pound has hit 94p against euro in flash crash and I'd expect it to test this again.

Shane732

How much can you have on the card at any time?

Yggr of Asgard

Shane732 wrote: »

How much can you have on the card at any time?

I suggest you check the FAQ because this info changes periodically.

https://revolut.com/faq/gettingstarted.php?faq_question=Are+there+limits+to+my+Revolut+account%3F

Please remember that the money is not insured in case of failure of either Revolut, Paysafe or Barclays.

The Ayatolla

Yggr of Asgard wrote: »

Please remember that the money is not insured in case of failure of either Revolut, Paysafe or Barclays.

Oh you better believe I'd be chasing my bank for a charge-back.

ShaneU

Question: if I want to buy something online in a currency that is not EUR, USD or GBP....How does it work? Does it just take it from one of my 3 balances?

skippy2

it just does the conversion itself at a very good rate much the same as xe exchange and adjusts your balance accordingly in whatever currency you have on the card. You will be able to see the rate used etc

Mervyn Skidmore

I'm travelling to Thailand, Malaysia, and China over Christmas. Without reading through 197 pages, can I assume that this type of card will be very useful?

The Ayatolla

Mervyn Skidmore wrote: »

I'm travelling to Thailand, Malaysia, and China over Christmas. Without reading through 197 pages, can I assume that this type of card will be very useful?

In short, yes. Everyone should have one.

BorneTobyWilde

Can you transfer euros on to card from bank account and then transfer same money once converted to Sterling from card and into a sterling account without actually buying anything /?

OldMrBrennan83

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leck

Can this card be used on deskop/laptop with a webapp? I have a Windows phone and there is no app for that.

OldMrBrennan83

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BorneTobyWilde

Patww79 wrote: »

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9 a month. Is that not a lot .
Who do you have account with, is it in Ireland. Is it a personal account .

OldMrBrennan83

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sweetie

So my debit card is out of date and the replacement got lost in the post and is being sent out again tomorrow but I'm going to london on friday. AIB wont let me transfer money online without debit card/code machine but can I walk into an AIB branch with cash and transfer it to Revolut in the UK and if so is there any charges? cheers

Quackster

sweetie wrote: »

So my debit card is out of date and the replacement got lost in the post and is being sent out again tomorrow but I'm going to london on friday. AIB wont let me transfer money online without debit card/code machine but can I walk into an AIB branch with cash and transfer it to Revolut in the UK and if so is there any charges? cheers

Do you know anybody else with a Revolut account who could top theirs up and then transfer to your Revolut account?

Or even somebody who doesn't currently have a Revolut account but would set one up just to top it up and transfer the credit to you?

sweetie

Quackster wrote: »

Do you know anybody else with a Revolut account who could top theirs up and then transfer to your Revolut account?

Or even somebody who doesn't currently have a Revolut account but would set one up just to top it up and transfer the credit to you?

My wife could set one up but would they allow us to have her card as my topup card, if I get what you mean? cheers

TitianGerm

sweetie wrote: »

My wife could set one up but would they allow us to have her card as my topup card, if I get what you mean? cheers

Your wife sets up her own Revolut with her own bank card.

If you need €1000, she tops up €1000 and transfers that amount to you. You pay her back when you go and withdraw money from your account.

Quackster

sweetie wrote: »

My wife could set one up but would they allow us to have her card as my topup card, if I get what you mean? cheers

Part of the Revolut functionality is the ability to instantly send credit from one Revolut account to another for free.

So once your wife sets up and tops up her Revolut account she can then log in to the app on her phone, click on the 'send' button and select you from her list of contacts, and then tap in however much she wants to send you.

The amount she can top up by and send you will be limited though unless/until she verifies her own account.

Even if you could top up your own account, it makes so much sense that you both have Revolut accounts so you wouldn't be stuck if you ever lost your own Revolut card, especially while on holidays.

BorneTobyWilde

What is best option to open a sterling account.

Yggr of Asgard

BorneTobyWilde wrote: »

What is best option to open a sterling account.

Depends on what you need from the account.

If you don't need direct debits etc have a look at monese. Account setup in minutes via an App and you get a Visa Debit Card. However it costs 4.95£ charge a month.

With the new basic account right (as long as the UK is still in the EU) and if you can travel to the UK, have a look at the nationwide flex basic account. Full of functions (like Apple / Android Pay) and free of charge.

The Ayatolla

Yggr of Asgard wrote: »

With the new basic account right (as long as the UK is still in the EU) and if you can travel to the UK, have a look at the nationwide flex basic account. Full of functions (like Apple / Android Pay) and free of charge.

Ah handy! Heading to the UK in a few weeks, might sort this out.

sweetie

emmetkenny wrote:

Your wife sets up her own Revolut with her own bank card
.

Quackster wrote:

Part of the Revolut functionality is the ability to instantly send credit from one Revolut account to another for free.

Worked a treat, cheers guys