Travelex Supercard trial to end

blink18

callum9999 wrote: »

Provide a link to prove that the true interchange rates aren't used on all currencies? I think you'll agree with the analysis from this chap:

http://forums.moneysavingexpert.com/showpost.php?p=70293257&postcount=9

please don't twist my request, you said fees were charged, they are not, its a completely baseless false statement on your behalf.

a slightly different rate on a currency that is extremely hard to trade, in the way that revolu does and is generally not available anywhere at interbank rates isn't a 'fee' whichever way you try to twist it.

Please provide links to where revolut charges fees for any card spending in any transaction and any currency.

darkidoe

Is the new travelex card going to be free? Looking forward to its launch!

callum9999

blink18 wrote: »

please don't twist my request, you said fees were charged, they are not, its a completely baseless false statement on your behalf.

a slightly different rate on a currency that is extremely hard to trade, in the way that revolu does and is generally not available anywhere at interbank rates isn't a 'fee' whichever way you try to twist it.

Please provide links to where revolut charges fees for any card spending in any transaction and any currency.

How absurd. I take it you believe that the post office is commission free with no fees then? Loading the exchange rate IS a fee, period. It is indeed available elsewhere at interbank rates - Halifax Clarity, Lloyds Amex, Nationwide Select, Nationwide Flexplus, N&P debit card, PO credit card and soon, the topic of this thread, the Supercard.

You keeping banging on about "how difficult the currency is to trade" - completely irrelevant. It makes their position reasonable, it doesn't change the fact that it's a fee.

callum9999

blink18 wrote: »

you may also like to compare in context, the mastercard rates displayed aren't rates in which a transaction will be settled for anyone, whether that's a consumer or a card issuer.

MasterCard will calculate rates when the transaction is settled, this can be a day, a week or up to 60 days after the transaction took place, it will never be on the day of the transaction.

"The exchange rate that is applied to a transaction is the exchange rate as of the day of settlement which is the day that MasterCard determines the settlement amount to be exchanged between the acquirer and the issuer. The settlement date is therefore typically different from the date of the actual transaction"

You wont EVER get the MasterCard rates displayed as the rate on the day of the transaction, in any currency processed via MasterCard, that's any transaction EVER, its an impossibility.

The very first transaction I just compared to the rate quoted on the Mastercard website gave me the same rate on settlement (the day after) as I would have gotten on the day...

Though if you insist on "comparing in context", they can't be compared at all. One gives live rates, the other makes you top up in advance. Both have their advantages and disadvantages (if the rate is dropping Revolut's method is better, if it's rising Clarity's method is better). EDIT: Though I see that only works with Euros and US Dollars, so it would be comparable.

adindas

johnrulesokhere wrote: »

I heard that this was going to end and was very sad

You mean Supercard will end soon ??
Where did you get this info from ? thanks

tykesi

Ignore him, he's a spammer.

megaginge

It's relaunching in the summer. As I missed out last time I'm looking forward to it

johnrulesokhere

good, i am glad it will be back

dj1471

blink18 wrote: »

but exchange on some of the best rates currently available.

Disagree. When I sampled the THB rate it was 1.29% higher than the Mastercard rate. That is a like-for-like comparison for transactions settled on that day, the fact that Revolut settle at the time of the transaction and Mastercard some time later isn't really relevant.

In fact the Revolut THB rates have been consistently lower than the Mastercard THB rate over the last 3 days (my Clarity transactions are typically settled 2 days after the transaction). The Revolut THB rates are beatable.

blink18 wrote: »

an extremely hard to trade currency.

I don't really buy that as a reason (maybe for RUB, but not for THB). Why is it harder to trade than, for example, Vietnamese Dong?

Anyway, while I understand that Revolut offer interbank exchange rates for all other currencies that doesn't mean that their card is always the best option. To illustrate this I made two imaginary purchases two days ago and noted the Revolut rates that would have applied. I compared these to the Mastercard rates for today, when Mastercard purchases would typically be settled.

On a 200 USD purchase I would have paid £1.27 more on the Revolut card, as the exchange rate has increased over the two days.

On a 200 EUR purchase I would have paid 22p more on the Revolut card, despite the exchange rate having dropped over the two days. I must have got a low interbank rate.

The only point I'm really making here is that the Revolut card is not providing any real advantage over a load-free Mastercard - at any given time it's a gamble which will work out cheapest and the difference is going to be small. Given the extra hassle of having to load the card, the lack of protection for fraudulent use and the lack of S75 protection, I think I'll stick with my Clarity with the Creation as backup.

A_T

The Revolut card does not offer good rates for THB and RUB. On their website it states they are unable to get the interchange rate and only offer the best they can get.

For any other currencies though IMO it's a good solution for travel money.