Revolut pre-paid Mastercard

eDicky

MiCol wrote: »

I cannot find out how to change the debit card number on the app ! ......

Delete your old card on the app (touch it). Enter the new one.

makima

is the invite code MSE still available?
and would it work if i top up Euros instead of Pounds?

eDicky

makima wrote: »

is the invite code MSE still available?
and would it work if i top up Euros instead of Pounds?

http://www.moneysavingexpert.com/credit-cards/prepaid-travel-cards

According to the current article it is still available, but I think it may only apply for customers with a UK address. The top up currency probably doesn't matter, I'm not sure - give it a try and let us know.

makima

Revolut started to apply fees if topping up US Dollars, 3%.

Yolina

I see in the FAQ it now says "Revolut offers the interbank exchange rate and applies no charges or fees subject to our fair usage policy."

And said fair usage policy:

ATM Withdrawals
Fair ATM usage is defined as £500 / €650 / $700 (or equivalent) a month, after which there will be a 2% fee. For example, if you withdrew £550 in one month, this would only cost you £1. We have to pass on these costs as Revolut doesn't own the ATMs...yet!

USD Debit Card Top-Ups
Supporting debit card top-ups in USD is expensive for us. We are working to bring these costs down. Until then, we have to pass on our costs, which are 3% per USD top-up. In this case it might be cheaper for you to top up via bank transfer.

Illiquid Currencies
For most currencies we provide you with the interbank rate...Awesome! However there are some illiquid currencies such as Thai Baht and Russian Ruble which are difficult for us to trade. For these currencies we will give you the best rate we can. You can check all these rates within the app.

makima

so what happened to their "Revolut offers the very best exchange rate available and applies no charges or fees. We guarantee this for the first 12 months of being a Revolut customer." statement.
it should be remained with no fees, for the EXISTING customers and new rules for the new customers..

but..

Luten

So the 12 month no-fee guarantee was a lie? What a surprise...

eDicky

makima wrote: »

so what happened to their "Revolut offers the very best exchange rate available and applies no charges or fees. We guarantee this for the first 12 months of being a Revolut customer." statement.
it should be remained with no fees, for the EXISTING customers and new rules for the new customers..

Yes, that statement seems to have disappeared from their website. Their guarantee was invalid and they have disguised the new charges as the "fair usage policy", without actually mentioning these exceptions from everything being free and at interbank rates anywhere else in their info.

The information about Revolut on the MSE Prepaid Travel Cards page is no longer accurate.

I just checked making a top up with my USD debit card and I was shown the 3% fee. I am only about halfway through my 'guaranteed' year of zero charges.

I already noticed an apparent variation from the interbank rate in Thailand last month, but I wasn't sure it was not just time lag with the GBP value jumping at that moment. Last week in Nepal the rate with Revolut was spot on the interbank.

UK customers will be affected mainly by the monthly fee-free ATM withdrawal limit of £500, and the variation from interbank rates in some currencies, although this variation is comparatively minor and so still a lot better than many alternatives. I think Revolut should come clean and list their 'illiquid' currencies, as well as their weekend variation from the interbank rate in all currencies.

Perhaps the providers of recent additional investment, needed to fund expansion of their CS facilities, stipulated that these cost-savings would have to be made. But it's a big surprise to me that USD debit cards charge the payee 3%..!?

Yolina

eDicky wrote: »

UK customers will be affected mainly by the monthly fee-free ATM withdrawal limit of £500, and the variation from interbank rates in some currencies, although this variation is comparatively minor and so still a lot better than many alternatives. I think Revolut should come clean and list their 'illiquid' currencies, as well as their weekend variation from the interbank rate in all currencies.

Yes and it's really nice of them to not bother telling customers about the new charges being introduced with no notice period. Even just an in-app message would do.

armistice

eDicky wrote: »

UK customers will be affected mainly by the monthly fee-free ATM withdrawal limit of £500, snip

Thats the bit that annoys me the most. Like most I will only use the card while travelling abroad maybe twice or three times a year being subject to a monthly quota on card withdrawals means I will most likely exceed the limit each time I travel. Could they not have an annual limit on free withdrawals (12 * £500 ~ £6000) instead of monthly. The maximum cost to them would be the same, but I doubt anyone would quibble with £6k as a fair use limit.
(* leaving to one side for now the promise of being fee free*)