Revolut Megathread.

Probably the most straightforward way is you convert €1000 each in your main accounts then transfer that (plus the balance which will incur a fee) to a Sterling joint account

That was you can do the actual payment with one card and not worry about trying to figure out the exact amount to charge each card

Make sure to do the conversion on a weekday to avoid extra charges

a local atm will charge regardless of your mthly atm limit.

If you scroll up this sounds identical to the AIB issue where AIB expect the reference in the end2end field and since revolut moved to Irish ibans they now send NOTPROVIDED for it and as a result recipients that depend on the field are rejecting and returning the funds to revolut. It's been ongoing since last year. I'm hounding revolut customer service on it but they are mostly unqualified copy and paste from transcripts and don't know what to do when it's not a simple query.

As I say this worked for AIB before the iban change for AIB to put your reference as your card number and since they moved to irish ibans they don't seem to be sending the data correctly.

Here is an extract from their response to my formal complaint:

"You then notified us with this information on the 29th of April 2023, after which the case was escalated for further investigation with our Tech team. With this additional information, our Tech team was indeed able to determine that the End-to-End IDs for the transactions were not being correctly assigned. This did not trigger errors on our end, which is why the Payments team previously stated that the issues were not on our side, however now our specialists are aware of the problem and are working on implementing a fix"

Pretty handy before the summer season with a few uk networks adding roaming charges back again.

Hopefully gets introduced for other users, eSim’s are incredibly useful. So easy to switch back and forth. Would probably use it if it’s an option

There are local ATM charges regardless of your monthly limit.A foreign bank/ATM owner is not going to give free service to a foreigner

edit: problem is with my bank

Is that only in foreign countries? I've used Euronet ATMs in Ireland and not been charged for withdrawing cash with Revolut

So I've received over €10k into my account for similar reasons. They will likely flag the payment for a day or two to verify it, and you'll probably be asked to verify your source of income due to anti money laundering reasons

If you do get flagged for income verification, basically Revolut will spit out how much money has gone into your account in the past year and you need to say what came from where. Be prepared to upload some transfer statements and payslips if you get your salary into your account

You don't have to verify everything, but you'll probably have to explain the main sources of income

EDIT: Also, just to add, they didn't freeze my account during any of this. It took me over a month to do all the verification and I still had access to everything

Can't remember if it was mentioned here before, but USD transfers from e trade are working again

I used 2 of them at weekend and wasn't with an AIB debit card (not mine).

That's good to know.Used B of I atm last year and was charged 20c.Was in Spain recently and withdrawal charges were from e1.80 to e4.70 for a sample e100.Was in a city and 4 major banks all within sight of each other.Tried each in turn for curiousity.

Yes,Off Topic but of concern as using a Revolut card

There's actually a savings account option already which advertises 2.5% interest, but if you click into it you just get a blank screen for now

It's under the wealth where you can see the balance of all your accounts

It'd be nice if they brought in some fixed term savings products, could do something like Raisin and partner with a bunch of European banks

EDIT: Actually I just clicked into it there and it seems to work now, advertising 3.56% APY instant access. Seems like an alright deal

I don't ever recall being charged for withdrawing cash from UK atms (always used a branded bank one HSBC etc). In the US I found some that would charge and some that were free - even varied by state/branch from what I could see but not all charge is the main point.

Okay, so it looks like savings accounts are now available to Irish customers, or Revolut have made a big mistake giving me one 😂

So quick summary, it's a mixed monetary investment fund, as in the investment is mostly low risk cash and bonds, no stocks or shares

However because it isn't a savings account per se, it's only covered up to €22k against Revolut going insolvent. So don't put your life savings into it

Interest is calculated daily, DIRT tax is withheld automatically and there's a daily service fee

Annual interest after all that was 1.91% for me, not great but better than 0%

Functionally it works the same as a vault, setup was instant and you can add or remove money instantly. You can also set a recurring transfer

Best answer is it depends 😉

Assuming you're below your limits for ATM withdrawals and currency exchanges, then you should be able to avoid most fees

Make sure to exchange currency before you go to avoid the weekend surcharge and any declined transactions because you didn't have enough in your account

The ATM provider could still charge fees, it's up to each provider

You might be asked if you want to be charged in dollars or euros, always select dollars

Last time I was in the US (admittedly nearly 9 years ago) a lot of places still hadn't a clue about chip and pin. Make sure you've Swipe payments enabled on your card, and also sign the card on the 1% chance someone bothers to check the signature matches

You might also want to disable location based security before you take off. I've had issues once or twice where the phone location takes ages to update and will block transactions

But just to confirm - it's charged at source by Revolut and you don't need to piss about with revenue at end of the year?

the_amazing_raisin posted (#5983) above ...

Who ponies up the €22K if Revolut goes insolvent?

Yes you're right, it's Exit tax not DIRT

I forgor 😁

The fund is managed by Fidelity and they'll pay the 41% tax to Revenue on your behalf. I imagine you'll need to ensure your Form 12 has the correct income amounts and taxes paid

Yeah it should be there

Try tapping Accounts and then Add New

The second option should be savings accounts

Yeah I did pretty much the same thing, figure in January I'll skim the excess due to interest and be able to afford a coffee

Maybe even stretch to a sandwich if rates stay where they are

It’s far worse than that. The service fee is .5% of the amount invested, which is 12.5% of the interest.

Your numbers make no sense. Care to share the source?

Edit: Ah you are talking about the lower tier plans.

I'm Metal so couldn't understand where .5 was coming from I see in the pdf on standard it's 0.47 (revolut) + 0.03 (fidelity).

On metal its .12 + .03

It's not hugely competitive but when you already have a Marrow account and Trade Republic maxed out its better than leaving it in a slush fund pocket making absolutely 0.

If you think this is a poor offering for easy access deposit rates don't go looking at the regular brick banks.

Fees below:

Metal fees: