Revolut pre-paid Mastercard

Revolut_Official

Hi alexcs,

Apologies for the inconvenience with your card. I can confirm we are not fraudulent in any sense. Please contact our in-App support chat again today and we will be able to look at the details and amend the issue.

alexcs wrote: »

Oh it's fixed OK, which is why I topped up my card by £100. But my bank refused the payment, according to the app

Lo and behold, this morning the £100 has been taken from my account. I am really worried that these guys aren't to be taken seriously, and their customer service are being as useful as a chocolate fireguard. I am tempted to contact my bank in case this is fraud....

christaitfife

It took about 10 days for me to receive mine. If you need to use it (online) before then, the numbers on the picture of the card in the 'my card' section are the actual numbers.

Revolut_Official

Hi adindas,

Firstly thank you for your comments about our rates. For the record we always use the spot interbank rates and pass these on to our users as we get them.

We've had a huge surge in orders and this has caused some delays on delivery, everything will be back to normal (2 day delivery for UK) after 28th July. If you need the card urgently let us know through the in-App support chat and we'll get you an emergency card sent out immediately.

adindas wrote: »

How long will it take to get the card ?

Revolut_Official

Hi joegreen1992,

If you lose your card whilst you are travelling you can block it in the App and then re-issue to an address you will be staying at.

In the unfortunate case that you lose both your phone and your card you can contact us and we will block the card and re-issue it for you. Alternatively you can log in via a friends phone and do this.

Contact information can be found here: https://revolut.com/contact

joegreen1992 wrote: »

Hi All,

I have been reading a lot of the reviews on the Revolut pre-paid mastercard and was wondering if people would recommend it for people like myself who are due to go travelling for a year? Does anyone know what would happen in situations such as losing my card in say Australia or Thailand? Is there a process in place to block my card and sending me out a new one?

Thanks

AndyEd1

I've just checked this out and it looks really convenient and good value. Even if the Resolut rate turns out not to be the perfect interbank spot rate, it's certainly a very good one and the option to hold euros is useful for locking in the current Euro rate ahead of my travels out there. I was initially planning on getting a Euro bank account but this is more convenient.

Whilst it all seems easy cheap and convenient my major concern is around how safe my money would be when held in this account. If Resolut were to go bust how safe is the money held in the Resolut account? Are there any circumstances in which any money held in this "wallet" would be lost?

Revolut_Official

Hi AndyEd1,

Great question on security of your money!

Revolut does not transact, take or keep any money from customers directly. All your money is held in ring-fenced client accounts at Barclays. That means if anything happens to Barclays or Revolut, your money is still safe.

AndyEd1 wrote: »

I've just checked this out and it looks really convenient and good value. Even if the Resolut rate turns out not to be the perfect interbank spot rate, it's certainly a very good one and the option to hold euros is useful for locking in the current Euro rate ahead of my travels out there. I was initially planning on getting a Euro bank account but this is more convenient.

Whilst it all seems easy cheap and convenient my major concern is around how safe my money would be when held in this account. If Resolut were to go bust how safe is the money held in the Resolut account? Are there any circumstances in which any money held in this "wallet" would be lost?

superhoop

Just signed up, deposited £10 and got my £5 bonus :T

Looks like a good product to me and am looking forward to using it when I go to the States in a few weeks time.

A question... Say I had £100, $100 and €100 in my Revolut pots.

Then I spend $50 on the Revolut Mastercard? Am I right in thinking it would come straight off the dollar total?

If in this scenario I instead spend $150, would this be funded by exchanging from the other currencies? How would it work? Or would the transaction be refused?

Revolut_Official

Hi superhoop,

Great question!

In the case you have £100, $100 and €100 then you withdraw $50 from an ATM in let's say New York, the $50 will be taken from your USD balance. If in the Eurozone from EUR and if in the UK then GBP. If, however, you are in Thailand then the money will taken firstly from GBP, if this is not possible due to insufficient funds then from the next highest balance of either EUR or USD.

In answer to your final question if you have balances of £100, $100 and €100 and withdraw $150 then at the moment (23/07/15 13:30 GMT(+1) £1 = £1.5604) therefore $150 = £96.13 so the amount will be deducted from your GBP balance. If you tried to withdraw $200 with balances of £100, $100 and €100 then the transaction would fail as there needs to be enough to cover the $200 in a single currency.

superhoop wrote: »

Just signed up, deposited £10 and got my £5 bonus :T

Looks like a good product to me and am looking forward to using it when I go to the States in a few weeks time.

A question... Say I had £100, $100 and €100 in my Revolut pots.

Then I spend $50 on the Revolut Mastercard? Am I right in thinking it would come straight off the dollar total?

If in this scenario I instead spend $150, would this be funded by exchanging from the other currencies? How would it work? Or would the transaction be refused?

superhoop

Thanks Revolut official for a good response. It all makes sense.

So from what you are saying, your currency pots are never combined to meet a transaction request?

In my scenario, spending $200, it wouldn't ever take $100 out of the USD account and then the remainder from one of the other currencies?

In other words you have to have enough in at least one pot to cover the entire transaction or it will be declined?

Thanks once again.

Revolut_Official

That is correct, we do not combine currency balances to meet transactions.

If you are trying to make a transaction that exceeds the value of all of your individual balances the transaction will fail, even if the combined balances is greater than the transaction value.

superhoop wrote: »

Thanks Revolut official for a good response. It all makes sense.

So from what you are saying, your currency pots are never combined to meet a transaction request?

In my scenario, spending $200, it wouldn't ever take $100 out of the USD account and then the remainder from one of the other currencies?

In other words you have to have enough in at least one pot to cover the entire transaction or it will be declined?

Thanks once again.