Revolut pre-paid Mastercard

NiftyDigits

adindas wrote: »

Sigh ....You do not know what are you talking about.
Sensible people will only lock the currency at the best available exchange rate they believe (at that time) when they are about to use it in the near future. For instance Euro to be used for this summer Holiday.

It is only an idiot will ever think they will lock their money in a card for long term without earning any interest.

I am talking about the rest of £ people still have in the card they have not converted into foreign currency. Keep in Mind people might still £ in their card as they just want to load it in one go and use thi £ balance anytime they want to exchange to other currency any time in the near future.



Report it to FCA as it is what they claim. Looking forward to your report and make sure to keep posting it here. ...

Also there will be reasonable number of people apply for this card. Time will tell if revolut make a false claim there will be tons of complain to be filed to FCA for certain



I am not going to refrain what I know and what I believe. And you sir stop pretendng you have a good knowledge of foreign currecny.

Again...a lot of useless words.

I think the main advantage of this card is the possibility to lock the rate in Euros and US$ when the exchnage rate is at their peak.

So how that different from a product such a UKASH Travel Money? You lock in a rate and then you spend it....

Facts:

The exchange they offer does not correspond with the Mid-Market nor the Mastercard or VISA rate.
It certainly does not correspond with the Interbank rate within the link that you posted as a reference to Interbank rate pairs.

Post the rates they offer each day and we can compare them with the 'Interbank low' of that day.

If you are writing about people who keep their funds in Sterling until they are ready to spend...there are better products on the market for that scenario too.

As to reporting to the FCA, I don't hold an account with Revolut, so about what should I complain?

You just appear to jump on every bandwagon that comes along....

NiftyDigits

adindas wrote: »

Utter tosh, Useless ...It is only an idiot will ever think they will lock their money in a card for long term without earning any interest.

Also there will be reasonable number of people apply for this card. Time will tell if revolut make a false claim there will be tons of complain to be filed to FCA for certain.

Please gather all of that infos to analyse and pot it here and proof it if not yu were making a false accusation.

More empty words...


Allow me to reiterate. I do not hold an account with Revolut. You do.
So it makes sense that I would ask you to post a sample of their rates each day so that we can compare it with the fxstreet Interbank rate pair lows to which you have linked.

I cannot do this as I do not hold an account. The only figures to which I have access is from posters here who have revealed the rates that have been offered. The have not been a match for published Interbank rates.

So are you willing to post the rates offered on a daily basis by Revolut or not?

Let's stick to facts, as no one is interested in your flawed opinions.

adindas

Utter tosh
People could see from your previous post that you have made accusation Revolut does not do what they have claimed e.g using interbank exchange rate.

Your claim based on individual isolated case in which I have disputed. The link I posted previously never say that the Interbank exchange rate will ALWAYS better in many case than VISA/Master. In many cases yes but not always. How could it be always when interbank exchange rate could change every second, while Master/Visa will update their exchange rate in many cases, daily. If you take the avarage within one day period it might be. Think about a country in turbulance, trasition, major political turmoil, regime changing. Using Interbank exchange rate the exchange rate in morning could be significanlty different with that in the evening.

Your claim here
""As to research? Why? It either matches(or betters) the Interbank rates low that you have published or it does not. "

Please gather info to prove your accusation .....

NiftyDigits wrote: »

More empty words...


Allow me to reiterate. I do not hold an account with Revolut. You do.
So it makes sense that I would ask you to post a sample of their rates each day so that we can compare it with the fxstreet Interbank rate pair lows to which you have linked.

I cannot do this as I do not hold an account. The only figures to which I have access is from posters here who have revealed the rates that have been offered. The have not been a match for published Interbank rates.

So are you willing to post the rates offered on a daily basis by Revolut or not?

Let's stick to facts, as no one is interested in your flawed opinions.

NiftyDigits

adindas wrote: »

Utter tosh
People could see from your previous post that you have made accusation Revolut does not do what they have claimed e.g using interbank exchange rate.

Your claim based on individual isolated case in which I have disputed. The link I posted previously never say that the Interbank exchange rate will ALWAYS better in many case than VISA/Master. In many cases yes but not always. How could it be always when interbank exchange rate could change every second, while Master/Visa will update their exchange rate in many cases, daily. If you take the avarage within one day period it might be. Think about a country in turbulance, trasition, major politicak turmoil, regime chaning. Using Interbank exchange rate the exchange rate in morning could be significanlty different with that in the evening.

Your claim here
""As to research? Why? It either matches(or betters) the Interbank rates low that you have published or it does not. "

Please gather info to prove your accusation .....

So many words and It appears that you have missed the point completely


Allow me to help you once again.... this time read slowly and digest before replying.


Forget about VISA/Mastercard for the sake of argument for now and look only at Interbank for this instance.
Looking at the rate pairs for Interbank pairs within the link that you produced for comparison, we can take the GBP/USD pair for the sake of comparison.

You will note that there is a high figure, indicative of the highest point of the day and a low, indicative of the lowest point....

We can make a definitive comparison by using the low rate of the day. In other words the lowest point the rate went down to on that day.

So if Revolut offered the 'Interbank Spot Rate' it should theoretically never drop lower than the low figure of that day.
If it does...then it isn't the Interbank Spot Rate...is it?

The current low, according to your link is US$1.55587 to the £. So what is Revolut offering right now? Does it match to at least the lowest point of the Interbank rate or not? If it doesn't then which 'Interbank Spot Rate' can Revolut claim to use?
In this case we don't need a lot of data. A single comparison is enough to prove or disprove.

Get it now?

You are batting for the wrong side because you aren't thinking straight.

The VISA/Mastercard argument is completely separate. We can look at those later if you like.

adindas

Just to remind you we have been in this dispute because you have made an accusation that Revolut does not do what they have claimed e.g using interbank 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. How much future liability they will need to pay ?? Look at Libor case with UK banking .....

Again I invite you to gather evidence and proof your accusation ....

NiftyDigits wrote: »

So many words and It appears that you have missed the point completely


Allow me to help you once again.... this time read slowly and digest before replying.


Forget about VISA/Mastercard for the sake of argument for now and look only at Interbank for this instance.
Looking at the rate pairs for Interbank pairs within the link that you produced for comparison, we can take the GBP/USD pair for the sake of comparison.

You will note that there is a high figure, indicative of the highest point of the day and a low, indicative of the lowest point....

We can make a definitive comparison by using the low rate of the day. In other words the lowest point the rate went down to on that day.

So if Revolut offered the 'Interbank Spot Rate' it should theoretically never drop lower than the low figure of that day.
If it does...then it isn't the Interbank Spot Rate...is it?

The current low, according to your link is US$1.55587 to the £. So what is Revolut offering right now? Does it match to at least the lowest point of the Interbank rate or not? If it doesn't then which 'Interbank Spot Rate' can Revolut claim to use?
In this case we don't need a lot of data. A single comparison is enough to prove or disprove.

Get it now?

You are batting for the wrong side because you aren't thinking straight.

The VISA/Mastercard argument is completely separate. We can look at those later if you like.

NiftyDigits

adindas wrote: »

Just to remind you we have been in this dispute because you have made an accusation that Revolut does not do what they have claimed e.g using interbank 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. How much future liability they will need to pay ?? Look at Libor case with UK banking .....

Again I invite you to gather evidence and proof your accusation ....

Why don't you simply post their GBP/USD and GBP/Euro rates here on a daily basis, instead of continually posting nonsense and beating around the bush?
Do you have some kind of disorder?
Is there something stopping you from posting their offer here?

adindas

NiftyDigits wrote: »

Post the figures and we can check.....

It is only an idiot going to do that my time is worthy I am not an idiot why should I ??

I have nothing to proof you have something to proof. If you can not proof then you are making a wrong accusation .

NiftyDigits

adindas wrote: »

It is only an idiot going to do that my time is worthy I am not an idiot why should I ??

I have nothing to proof you have something to proof. If you can not proof then you are making a wrong accusation .

The word is prove. As to whether you are an idiot....the observers can decide.

I would guess that prospective customers would like to have it confirmed that the rates are the best they can get.
Since you make it your business to obtain as many of the fee free cards as you can, your comment of your time being "worthy" is disingenuous at best.

So if you want to help this forum in the way that it has helped you, post the figures.
If you want to play the fool....be your guest.
I maintain that the rates offered do not appear to always match posted Interbank rates.

adindas

FYI, I have almost all best cards that could be used to get foreign currencies. You name it there is a good Chance I have it and I have been using it to get multi currencies all over the world.

Let the people judge your pointless post and baseless accusation that Revolut is making a false claim of using inter bank exchange rate.

Looking into your pointless post and accusation if I was an idiot you must be a !!!!!! person.

NiftyDigits

adindas wrote: »

FYI, I have almost all best cards that could be used to get foreign currencies. You name it there is a good Chance I have it and I have been using it to get multi currencies all over the world.

Let the people judge your pointless post and baseless accusation that Revolut is making a false claim of using inter bank exchange rate.

Looking into your pointless post and accusation if I was an idiot you must been a !!!!!! person.

I know that English is not your first language, so I can excuse your obvious missteps.

I have already confirmed that you have applied for all of the fee free cards.

So perhaps you simply didn't understand.


As to the exchange rate; post #8 claims that the rate was 1.38 to the £ on the 13th. That is well below the Interbank low for that day.

Also another poster here reports a relatively low exchange rate.

What Revolut actually state is

Our rates mirror the Spot Interbank exchange rate....

Still waiting for your figures.

You appear to be happy to post here every few minutes, but strangely refuse to add sample rates within your posts. Why is that? Your time still too "worthy"?