Free Revolut physical card (normally €6)

Morby

Just wondering if any of you more experienced users could advise me on this please.

Have topped up my account with Euro and going to England over the weekend. Just wondering should I convert to sterling now or just leave my balance in Euro and let Revolut do the converting at the time of each transaction?

Just wondering as to which would be better or is it much of a muchness either way?

Think I read on here that the conversion rates/fees go up at the weekend?

TheChizler

They go ever so slightly up (is it 1 %age point?) so you can convert in advance if you want but it won't make a huge difference

namloc1980

Opened two accounts one for myself and one for the missus. Ordered a free card on each but mine is a MasterCard and hers is a Visa! That's a bit random. Would prefer a Visa myself.

OmegaGene

namloc1980 wrote: »

Opened two accounts one for myself and one for the missus. Ordered a free card on each but mine is a MasterCard and hers is a Visa! That's a bit random. Would prefer a Visa myself.

Swap cards lol
MasterCard is alright really I’ve only had it refused at AN POST while trying to pay for postage

namloc1980

OmegaGene wrote: »

Swap cards lol
MasterCard is alright really I’ve only had it refused at AN POST while trying to pay for postage

That's weird setting as how their post smart current account card is MasterCard! :pac:

OmegaGene

That is a weird one but it was declined twice and the fella said it was because it was a MasterCard
Maybe it’s becasue their card is a debit card

Quackster

OmegaGene wrote: »

That is a weird one but it was declined twice and the fella said it was because it was a MasterCard
Maybe it’s becasue their card is a debit card

An Post only accepts debit cards. Credit cards, including prepaid ones like Revolut, aren't accepted.

muckbrien

When I get the card can I use it everywhere?

Shops, online the lot?

What's the best way to work it, transfer most of the money to revolut when u get paid and do everything off revolut?

Will that cut right down on fees?

wotzgoingon

Quackster wrote: »

An Post only accepts debit cards. Credit cards, including prepaid ones like Revolut, aren't accepted.

You are right as a few times I tried to use a credit card in the post office and was refused.

TheChizler

Quackster wrote: »

An Post only accepts debit cards. Credit cards, including prepaid ones like Revolut, aren't accepted.

Revolut is a prepaid debit card though, not credit.

wotzgoingon

TheChizler wrote: »

Revolut is a prepaid debit card though, not credit.

There is probably a correct name for them but I don't know it but it is not like a traditional debit card though.

Aquos76

TheChizler wrote: »

Revolut is a prepaid debit card though, not credit.

Still gets rejected in post office though, regardless as to whether it’s a visa or MasterCard one.

TheChizler

Aquos76 wrote: »

Still gets rejected in post office though, regardless as to whether it’s a visa or MasterCard one.

Yup. Just pointing out it's not a credit card.

cojomo2

muckbrien wrote: »

When I get the card can I use it everywhere?

Shops, online the lot?

What's the best way to work it, transfer most of the money to revolut when u get paid and do everything off revolut?

Will that cut right down on fees?

Hmm, I wouldn't have large sums sitting in it..what happens if revolut folds? They aren't a Bank so I'd just top it up when you know you're going to spend it.

OmegaGene

cojomo2 wrote: »

Hmm, I wouldn't have large sums sitting in it..what happens if revolut folds? They aren't a Bank so I'd just top it up when you know you're going to spend it.

The money isn’t taken by Revolut it’s held in a separate account with either Lloyd’s or Barclays so if Revolut does fold you can claim your money back

Wages can be paid straight into the account also

client funds are stored under a segregated account at Lloyd’s or Barclays, depending on the type of account you hold. As an FCA authorised institution, your funds are safeguarded as per FCA requirements, the Electronic Money Regulations 2011 and the Payment Services Regulations 2009. In the event of an insolvency, you will be able to claim your funds from this segregated account and your claim will be paid above all other creditors.

PeterDuggan

OmegaGene wrote: »

The money isn’t taken by Revolut it’s held in a separate account with either Lloyd’s or Barclays so if Revolut does fold you can claim your money back

Wages can be paid straight into the account also

client funds are stored under a segregated account at Lloyd’s or Barclays, depending on the type of account you hold. As an FCA authorised institution, your funds are safeguarded as per FCA requirements, the Electronic Money Regulations 2011 and the Payment Services Regulations 2009. In the event of an insolvency, you will be able to claim your funds from this segregated account and your claim will be paid above all other creditors.

This is very important and the assurance you express sounds good. Is that stated clearly on their website somewhere?
Also does the FCA guarantee apply to us since we're (1) not UK citizens and (2) not afaik direct customers of Lloyds or Barcleys? Revolut provide each of us with a BIC and IBAN for our Euro accounts and a sort code and account number for our Sterling accounts. Does this mean that all of us have two personal Lloyds' accounts which we could recover through the FCA? And then what about dollars, etc?
Sorry for all the questions but you sound like you know what you're talking about OmegaGene.

OmegaGene

PeterDuggan wrote: »

This is very important and the assurance you express sounds good. Is that stated clearly on their website somewhere?
Also does the FCA guarantee apply to us since we're (1) not UK citizens and (2) not afaik direct customers of Lloyds or Barcleys? Revolut provide each of us with a BIC and IBAN for our Euro accounts and a sort code and account number for our Sterling accounts. Does this mean that all of us have two personal Lloyds' accounts which we could recover through the FCA? And then what about dollars, etc?
Sorry for all the questions but you sound like you know what you're talking about OmegaGene.

I was reading about the card and company before I signed up and just googled
Is Revolut safe and the last paragraph in my previous is copy and pasted from a Revolut reply on the community forum
The forum is a good read

I’ve read a few statements from people where Revolut didn’t work for them when sending money to another persons bank account but the problem has always been human error
Euro sent to a uk bank account and another was the wrong iban for example

I was very skeptical at first but it’s working well for me, I sent a few grand to my brother in the uk and the money was in his account in 3 days and saved me about €80 in bank charges

Lenny

TheChizler wrote: »

Revolut is a prepaid debit card though, not credit.

Its still classed as a credit card though, I tried to pay a credit card bill with my revolt cars and it was declined and they said it was a credit card...

OmegaGene

Lenny wrote: »

Its still classed as a credit card though, I tried to pay a credit card bill with my revolt cars and it was declined and they said it was a credit card...

Yes that’s a problem with the card, it’s a debit but comes up as a credit card in some situations like Uber for example

Yggr of Asgard

When Revolut folds your fund are held in a segregated accounts (that is segregated from Revolut's day to day business, not on an individual person basis), so you can apply to the FCA to your funds paid back to you if you can prove your balance and it's not instant like under the bank account guarantee.

You do not have an individual relationship with the bank that is providing Revolut with the virtual bank account numbers. Your relationship is with Revolut an electronic money provider. Even if your balance says "£", in reality, it's revolut electronic money to the value of that £.

When Revolut folds you have to apply to the FCA to get your funds released as part of the wind-down process and while your claim is higher than those of other creditors it's not going to be an instant process, it will take a while to process all of those claims.


Also as the fold down recently of another electronic money provider has shown this is a messy process so don't get fooled into believing your money is 100% save under a government guarantee. There is no government guarantee for electronic money.


I only keep as much money in the wallet that I know I will need, especially as top-ups via card are instant.

Lenny

I was seeing if I could fool the system.. Tope ed the revolt up with my credit card and then use the revolt to pay my credit card...
I plan on using the revolt for uber in the US, is there problems with uber and revolt?

OmegaGene

Lenny wrote: »

I was seeing if I could fool the system.. Tope ed the revolt up with my credit card and then use the revolt to pay my credit card...
I plan on using the revolt for uber in the US, is there problems with uber and revolt?

A few people in the uk had issues with Uber but it seems to have been resolved

Yggr of Asgard

OmegaGene wrote: »

Yes that’s a problem with the card, it’s a debit but comes up as a credit card in some situations like Uber for example

That is because those companies are not using the correct reference database or other reasons.

For example, the premium MasterCard clearly has the debit logo and the even the remark prepaid on it.

For example, the new visa card is coded as "visa debit prepaid".

The cards are issued as prepaid debit cards, but some merchant banks have problems identifying them as such because they other use outdated reference databases, don't check against the right issuer table or their system can't deal with the code that the card transmit to identify what it is.

Yggr of Asgard

Lenny wrote: »

I was seeing if I could fool the system.. Tope ed the revolt up with my credit card and then use the revolt to pay my credit card...

You might find that Revolut might suspend your account if you do that too often due to fears that you could engage in money laundering activities.

cojomo2

OmegaGene wrote: »

The money isn’t taken by Revolut it’s held in a separate account with either Lloyd’s or Barclays so if Revolut does fold you can claim your money back

Wages can be paid straight into the account also

client funds are stored under a segregated account at Lloyd’s or Barclays, depending on the type of account you hold. As an FCA authorised institution, your funds are safeguarded as per FCA requirements, the Electronic Money Regulations 2011 and the Payment Services Regulations 2009. In the event of an insolvency, you will be able to claim your funds from this segregated account and your claim will be paid above all other creditors.

Still...the funds are not guaranteed ..they are in a bank.
If Revolut folded, you are then a creditor and you have to put in a claim. If there isnt funds to meet your claim then you're out of luck.

donegal.

how long does it normally take to set up a revolut account?

I downloaded the app last Saturday and it said there was 104 people in front of me , seven days later theres still 97 people in front of me.

Lenny

Yggr of Asgard wrote: »

You might find that Revolut might suspend your account if you do that too often due to fears that you could engage in money laundering activities.

Its was a good once off really, just put 20euro on it to see if I could pay 20 euro to a credit card bill, it would be an easy way to get into series debt if you could!

muckbrien

cojomo2 wrote: »

Hmm, I wouldn't have large sums sitting in it..what happens if revolut folds? They aren't a Bank so I'd just top it up when you know you're going to spend it.

Ok I wouldn't have big sums in it ,but dont you get charged for topping up by your regular bank tranferring through money to revolut?

Does revolut have any charges at all?

OmegaGene

muckbrien wrote: »

Ok I wouldn't have big sums in it ,but dont you get charged for topping up by your regular bank tranferring through money to revolut?

Does revolut have any charges at all?

https://www.revolut.com/ie/faq

mel.b

donegal. wrote: »

how long does it normally take to set up a revolut account?

I downloaded the app last Saturday and it said there was 104 people in front of me , seven days later theres still 97 people in front of me.

Sounds like lots of people are using referrals to help jump the queue. When i got mine earlier in the year there were 700 people ahead of me and it took about a week.

somebody_else

mel.b wrote: »

Sounds like lots of people are using referrals to help jump the queue. When i got mine earlier in the year there were 700 people ahead of me and it took about a week.

It took under minute for me.

Downloaded app and put details, took picture of passport and selfie and it was done.
Then topped up and ordered card (will be shipped on Monday).

Used card already to top up my phone and all works.

Tom

TheDriver

I ordered card before verification. Queue took 10 mins, card came in 5 days and verification took 10 mins.

McMurphy

Folks am I missing something here?

Before I got.an actual physical card from revolut I was able to view my virtual card details in the app.

That seems to have gone now from the app, and I seem to have misplaced the physical card.

I want to purchase something of Amazon this morning using revolut.

Where do i find my card details from the app, or am I missing something blindingly obvious?


Edit - scratch that. All sorted.

wotzgoingon

I want to send money to my brother in New York. I know I can exchange my euros to dollars in the app and then transfer to his revolut for free but what is the best/cheapest way for him to access the dollars as in have the cash in hand?

muckbrien

Can you lodge cash at a bank machine?

Or do u have to transfer?

TheChizler

wotzgoingon wrote: »

I want to send money to my brother in New York. I know I can exchange my euros to dollars in the app and then transfer to his revolut for free but what is the best/cheapest way for him to access the dollars as in have the cash in hand?

Why not transfer him Euro and let him decide on the conversion?

You'd have to ask him what the cheapest method is. Most ATMs in the US charge a withdrawal fee in my experience. Once you've transferred via Revolut it's really up to him.

OmegaGene

wotzgoingon wrote: »

I want to send money to my brother in New York. I know I can exchange my euros to dollars in the app and then transfer to his revolut for free but what is the best/cheapest way for him to access the dollars as in have the cash in hand?

When I send money to family in the uk I put in the amount in euro into my Revolut account and send gbp/sterling to the relevant bank account and Revolut isn’t involved on the other side
Money in the bank in 2 to 3 days to do as they wish

If I was you I would send him dollars to his bank and he can withdraw it or spend as they wish

TanyGray

Looking to go on holidays in two weeks and this card would be handy.

How long does it take to get to the top of the waiting list on this card?
Mine doesnt seem to be moving.

I ordered a Curve card too and shock horror there were 40,000 others in front of me, so I decided to try revolut. It might be quicker.

TheDriver

I was at top of queue in minutes

TanyGray

TheDriver wrote: »

I was at top of queue in minutes

Great. I'll try it out so. That Curve card I ordered may never come at the rate their waitlist is going

muckbrien

I've checked the FAQ and have the card all setup ready to use

So theres no cash topup possible with the card?

Also the jist of the card is to use it as much as possible rather than the regular bank card( to avoid fees and exchange fees).is that it?

Anyone care to say how they make best use of the card for topping it up , payments and shopping etc?

Thanks

TheDriver

for foreign currency. no advantage to using it for euro. Also if you intend buying something in foreign currency at weekend, convert it during the week otherwise it charges a percentage.

long_b

muckbrien wrote: »

Can you lodge cash at a bank machine?

Or do u have to transfer?

Have to transfer

muckbrien

TheDriver wrote: »

for foreign currency. no advantage to using it for euro. Also if you intend buying something in foreign currency at weekend, convert it during the week otherwise it charges a percentage.

Hi

I'm going to be buying an item on Amazon for £300,(don't have to buy it at weekend)

Do I have to convert first?

I normally just pay in Sterling using the boi visa card

OmegaGene

muckbrien wrote: »

Hi

I'm going to be buying an item on Amazon for £300

Do I have to convert first?

I normally just pay in Sterling using the boi visa card

No Revolut does it for you

muckbrien

Topup the revolut card and do as many transactions with the revolut card as possible

Rather than the boi visa card

Is that the basic jist of saving money with revolut?

OmegaGene

TheDriver wrote: »

for foreign currency. no advantage to using it for euro. Also if you intend buying something in foreign currency at weekend, convert it during the week otherwise it charges a percentage.

As far as I know it’s not a percentage that’s charged for use at the weekend it’s the exchange rate that is different and if it’s a small purchase it’s not really much of a difference

OmegaGene

muckbrien wrote: »

Topup the revolut card and do as many transactions with the revolut card as possible

Rather than the boi visa card

Is that the basic jist of saving money with revolut?

Revolut is for all foreign currency transactions and if you have an excess on the card it can be used in Ireland the same as a normal bank card

muckbrien

OmegaGene wrote: »

Revolut is for all foreign currency transactions and if you have an excess on the card it can be used in Ireland the same as a normal bank card

But there's no transaction fees that you would have with boi cards?

Is that correct?

OmegaGene

muckbrien wrote: »

But there's no transaction fees that you would have with boi cards?

Is that correct?

No fees and you get the live exchange rate at the time of the transaction so it’s the best way to buy anything in another currency and best way to send money abroad