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Revolut pre-paid Mastercard

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I was wondering if anyone has used the Revolut pre-paid card that Martin recommends in this week's email? http://www.moneysavingexpert.com/credit-cards/prepaid-travel-cards?utm_source=MSE_Newsletter&utm_medium=hiya&utm_term=07-Jul-15-v1&utm_campaign=credit-cards&utm_content=4#revoluteuro

On paper it looks fantastic and something similar to the Travelex Supercard, which I unfortunately wasn't quick enough to get before they were all snapped up. What particularly appeals to me is the no fee ATM withdrawals as much as the perfect exchange rate.

Just looking for opinions/reviews from others?

Thanks,
BDA
«13456765

Comments

  • clidds
    clidds Posts: 6 Forumite
    I've had a Revolut card for the last 3 months, used it in various European countries and I've got no complaints! It's worked everywhere and the rate you get is the actual exchange rate, no hidden fees or catches that I have found so far!
  • Great - I've gone ahead and signed up for one. I hope it turns out as good for me. I'll been reading about a lot of problems with the Travelex Supercard so it may be a good thing that I did miss out on one of those.
  • also signed up to this - app is great functionality wise. Just one quick question - how does this work in practice when abroad - i.e. do you have to convert GBP to EUR before travel or when you use the card does it just automatically convert?
  • I think you have to convert before you withdraw but you can do that at any stage. I plan to do it before I go on holidays and you get the rate when you convert, although technically I think you could use the app and do the load/conversion just before withdrawal.
  • From what i've read, there is no need to convert before withdrawal, with it being a pre paid sterling card, you simply load money on in sterling/ euro/ USD and then withdraw anywhere in the world, Revolut does the conversion for you.
  • adindas
    adindas Posts: 6,856 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    angus1994 wrote: »
    From what i've read, there is no need to convert before withdrawal, with it being a pre paid sterling card, you simply load money on in sterling/ euro/ USD and then withdraw anywhere in the world, Revolut does the conversion for you.

    If you want to load it in Euro, say today. Will it be converted on today interbank exchange rate ??

    Also unlike Master/Visa global exchange rate, AFAIK interbank exchange rate used by Revolut is changing a few times in a day. Say I am loading it now, will it use the current real time Interbank Exchange rate or it will wait until the last working hours on the day ??

    IMHO This card is very good if you want to lock the exchange rate while they are in its peak.
  • I have just exchanged my £15 to euros and I got the €1.40 rate that was showing on the screen. Yesterday it was €1.38
    Don't sweat the small stuff ................It's all small stuff!

  • adindas
    adindas Posts: 6,856 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    In this link MSE has indicated good for one year. Anyone has seen any documents from Revolut which is specifically mentioning that this deal is only for one year ??

    thanks

    http://www.moneysavingexpert.com/credit-cards/prepaid-travel-cards?utm_source=MSE_Newsletter&utm_medium=hiya&ut %20%20m_term=07-Jul-15-v1&utm_campaign=credit-cards&utm_content=4&&_ga=1.131911305.782541970.138 6260648#revoluteuro
  • NiftyDigits
    NiftyDigits Posts: 10,459 Forumite
    I have just exchanged my £15 to euros and I got the €1.40 rate that was showing on the screen. Yesterday it was €1.38

    So not quite the "Interbank Spot Rate" that they claim.
  • adindas
    adindas Posts: 6,856 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 15 July 2015 at 10:29PM
    So not quite the "Interbank Spot Rate" that they claim.

    AFAIK, there are various versions of the Interbank Exchange rate. Also the Interbank Exchange rate might change in less than a second depending on demand and supply in which those currencies are traded. Here is example of an Interbank Exchange rate

    http://www.fxstreet.com/rates-charts/interbank-rates/

    "€1.40 rate that was showing on the screen. Yesterday it was €1.38 "

    The exchange rate on these date is quite right if we see the Visa/Master global exchange rate.

    As they are also regulated by FSA I think Revolut will be extremely careful if they claim they were using Interbank Exchange rate when in fact they did not.
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