Prepaid Cards Guide Discussion Area

eskbanker

Carnmore wrote: »

I've been on to Revolut but they're claiming there's a weekend rate levy due to the markets being closed but I don't accept this

https://www.revolut.com/faq?lang=en#what-exchange-rate-will-i-get does indeed clarify:

At the weekend (Friday 23:59 - Sunday 23:59) we apply a small mark up on the spot rate as the Forex markets are closed. We take the rate from Friday 23:59 and apply a 0.5% mark up on major currencies and 1.0% on other currencies to protect the company from potential losses due to a large fluctuation in the rate. For illiquid currencies like Russian Ruble and Thai Baht, there is 1.5% mark up on weekend.

Carnmore

eskbanker wrote: »

https://www.revolut.com/faq?lang=en#what-exchange-rate-will-i-get does indeed clarify:

No it doesn't. Why did the Exchange not show the actual rate rather than a rate before additional charges / theoretical rate?

eskbanker

Carnmore wrote: »

No it doesn't. Why did the Exchange not show the actual rate rather than a rate before additional charges / theoretical rate?

No idea to be honest but, just to be clear, that wasn't the question I was answering - I was simply pointing out that their weekend rate levy (that you sceptically said they were 'claiming' was in place and that you didn't accept) is a published feature of their pricing, even if they don't actually apply it particularly transparently....

eDicky

Carnmore wrote: »

No it doesn't. Why did the Exchange not show the actual rate rather than a rate before additional charges / theoretical rate?

Why indeed - I've never seen this happen, although I haven't used my Revolut recently. So I'm going to check.

At 23:45 GMT Friday the rate shown on my Revolut app is 1€ = £0.8922. This corresponds exactly to the mid-market rate shown on XE.com, so it's showing the pure interbank rate on Revolut.

At a minute past midnight the rate on Revolut has changed to 1€ = £0.8877. Meanwhile XE.com is showing 1€ = £0.8921, so Revolut has put on their weekend margin as usual.

In your case I don't know what could have happened. With your transaction taking place on a Sunday when the weekend rate had been in place since Friday midnight GMT, it clearly could not have involved the midnight rollover. Perhaps your app had not updated the rates because of lack of connection, until you made the purchase..?

forgotmyname

Always had good rates of exchange with my Revolut card, actually getting the card was a PITA though.

With them asking for photo ID that i do not have. They said thats OK you can send us a copy of your photo id citizenship card.

!!!!!! is a citizenship card? Had to explain several times that we dont have those in the UK. Eventually they agreed to just let me deposit £20, except i couldnt because it said £20 was over my unverified accounts limit. Giant FACEPALM.

aife

Anthorn wrote: »

For a prepaid Debit card your options are limited. Probably Soldo which costs £2.00p per month after the introductory period. Most prepaid cards are prepaid Credit cards and you're spoilt for choice there. No real difference between a prepaid debit card and a prepaid credit card except when you want to use a prepaid credit card where credit cards are not accepted, for example at my local Lidl.

I don't understand . Surely if it's prepaid then it's not credit ?

aife

Does anyone know which prepaid cards can be used on bookmakers sites ?

Anthorn

aife wrote: »

I don't understand . Surely if it's prepaid then it's not credit ?

Prepaid cards are designated as debit or credit cards. That's why in some case they are called prepaid credit cards. Conversely some cards are not credit cards but they are prepaid credit cards. Confusing isn't it.

Anthorn

aife wrote: »

Does anyone know which prepaid cards can be used on bookmakers sites ?

Traditionally Neteller Net+ has been used for gambling and indeed discounts at certain bookmakers when the Net+ card is used may be offered from time to time. Neteller offers a plastic card which is charged a fee for and can be used at point of sale. They also offer virtual cards which may be used online and you get the first virtual card free and you pay for subsequent ones.
https://www.neteller.com/en/

You might want to avoid a link back to your bank account so avoid using your debit card when topping up Neteller. Neteller offers a range of topping up methods and my own personal take on that is to use Paysafecard and buy it for cash at a local shop.
https://www.paysafecard.com/en-gb/

aife

Anthorn wrote: »

Traditionally Neteller Net+ has been used for gambling and indeed discounts at certain bookmakers when the Net+ card is used may be offered from time to time. Neteller offers a plastic card which is charged a fee for and can be used at point of sale. They also offer virtual cards which may be used online and you get the first virtual card free and you pay for subsequent ones.
https://www.neteller.com/en/

You might want to avoid a link back to your bank account so avoid using your debit card when topping up Neteller. Neteller offers a range of topping up methods and my own personal take on that is to use Paysafecard and buy it for cash at a local shop.
https://www.paysafecard.com/en-gb/

Thanks for the reply.
Can I ask why you suggest not funding it from my bank account?
Is the concern about privacy or unauthorised debits ?