Revolut pre-paid Mastercard

eDicky

NiftyDigits wrote: »

I think there may have been a deviation from the wholesale exchange rate shown for when it comes to Australia. Is this still the case?

Yes, according to Sim42's report above there is a spread of 0.5% even on weekdays. I haven't got around to checking it, which should be possible using rates shown on the app compared to interbank. Perhaps Revolut need to be confronted about this.

NiftyDigits

eDicky wrote: »

Yes, according to Sim42's report above there is a spread of 0.5% even on weekdays. I haven't got around to checking it, which should be possible using rates shown on the app compared to interbank. Perhaps Revolut need to be confronted about this.

I've all but abandoned my Revolut account, as there is almost always a better option. It may still have it's uses, but not as an everyday travel card for me. A few too many hoops have appeared.

Bermond

eDicky wrote: »

After using my card worldwide for nearly a year, it failed for the first time last week at a Tesco checkout here in UK. In literally less than two minutes the in-app chat staff was able to check and confirm that there was a connection error between the Tesco terminal and the server at that moment, and I should have no further problem, which I haven't. So, what can I say... Try your card to pay next time you shop in the supermarket or somewhere, and if it works you may have more confidence. No card is totally reliable, but at least you have a Clarity and perhaps others for backup.

Thanks that is very helpful. I will load some sterling on and give it a try.

Peribanu

Bermond wrote: »

I want to use it to partially pay for a hotel room prebooked in Spain which has to be paid on arrival. I see on the mse information page a warning that some people have had problems using it abroad. So my question is whether this is usually just at atm's or is it also using it as a credit card? Would I be safer doing a money transfer before I arrive? I don't want to be in a position where the card puts a hold on the money but the payment doesn't go through.

I used my Revolut card in Argentina with no problems at all, both for purchases and for cash withdrawals. I've also used it for Web purchases. If I were you, I'd go to your local ATM and withdraw the minimum amount in cash (say £20) just to be sure that your PIN works and is properly registered. You could also use it for a small purchase next time you go to a supermarket. If that's all working, you should be fine, barring any network problems on the day you pay in Spain. Note that it is possible to do a bank transfer within the Revolut app, and you don't pay any fees for this, so if you did want to send Euros to the hotel in advance, you can do that with Revolut too. However, my experience is that it'll just work and it shouldn't be necessary for you to do a transfer.

Peribanu

hidden_sacrifice wrote: »

... and if I needed to reload or withdraw the balance when I got home, how much would this cost me?

You can withdraw the balance anywhere in the world, and the cost will be the same: if you are withdrawing more than £500 in a month IN CASH, you'll pay 2% of the amount *above* £500. If you have time, why not withdraw it over two months? Or even better, help Revolut, and use the card for spending back in the UK (e.g. a supermarket shop), in which case there are no fees for you at all. Revolut makes money on merchant fees for cards, and loses money on every cash withdrawal. So, if you want to be able to continue using Revolut in the future, it's a good idea to get into the habit of using the card for shopping rather than always withdrawing cash, and you can use it this way in the UK too.

thurgood

My experience personally experienced is that Revolut does give something like 0.5% lower than the going rate. Case in point: (for a 1000 € exchange) at this moment on XE.com the dollar /euro rate is 1,1113 $ per euro. Revolut's current rate is 1,106 per $. At Transferwise I get 1.115 $ per euro. 5 euros more. However, they do take 5 dollars (0,5% commission as announced), thus it comes out exactly the same, still one comes out 0.5% lower than actual rates.

photome

My son has just tried to check his balance In an atm it's the first time he has used it in any atm,but he put the wrong pin in a few times before he remembered. His account is now saying you have tried too many pins.

Other than getting in touch with Revolut chat on the app is there any other way of getting it unblocked, we travel tomorrow

eDicky

photome wrote: »

Other than getting in touch with Revolut chat on the app is there any other way of getting it unblocked, we travel tomorrow

I don't see a phone number on their website any more, but it has been mentioned back in this thread somewhere. Why not use the in-app chat, they can respond very quickly nowadays. There is only a half hour left today, but it can be done wherever you have WiFi or data tomorrow. Have details of your last top up ready to give them, for verification.

eDicky

thurgood wrote: »

My experience personally experienced is that Revolut does give something like 0.5% lower than the going rate. Case in point: (for a 1000 € exchange) at this moment on XE.com the dollar /euro rate is 1,1113 $ per euro. Revolut's current rate is 1,106 per $. At Transferwise I get 1.115 $ per euro. 5 euros more. However, they do take 5 dollars (0,5% commission as announced), thus it comes out exactly the same, still one comes out 0.5% lower than actual rates.

Revolut's rates are always about 0.5% off the mid rate on weekends when the forex markets are closed.

thurgood

eDicky wrote: »

Revolut's rates are always about 0.5% off the mid rate on weekends when the forex markets are closed.

Ok, thank you.