Topping up Revolut card with Credit Card

eDicky

cbrookes wrote: »

Thank you, how do the rates compare to Revolut? And do you top them up with the app like you do Revolut? Sorry for the questions!

Monzo and Loot are app-based cards for general UK use that apply no loading to the straight MasterCard rate when used overseas. They are less sophisticated and versatile than Revolut's multi-currency capabilities, but just as good value for overseas use. Top-up methods are similar to Revolut.

[Deleted User]

Will I be charged for topping up by card?
Topping up via debit or credit card in GBP, EUR, USD, PLN, DKK, SEK, NOK, RON, and CHF is completely free.

If you top up with a card that was not issued within the European Economic Area (a US-issued card for example) or with a commercial card, we may charge you a small fee to cover our costs. In these cases, it might be cheaper for you to top up by bank transfer.

adindas

Deleted_User wrote: »

Will I be charged for topping up by card?
Topping up via debit or credit card in GBP, EUR, USD, PLN, DKK, SEK, NOK, RON, and CHF is completely free.

If you top up with a card that was not issued within the European Economic Area (a US-issued card for example) or with a commercial card, we may charge you a small fee to cover our costs. In these cases, it might be cheaper for you to top up by bank transfer.

Revolut, Starling, Monzo, Loot issued in the UK is a UK based account / Cards. So the home currency is £. Using another currency will involve conversion.

So people with common sense will be topping up these cards using UK debit card or UK Bank Account. Why would anyone rational top it up using US Bank to be spent in Europe in foreign currency (say EU) loosing coneversion twice.

It is a completely make up scenario. Why US$ In this scenario why not used african bank where a lot of fraud have been found.

eDicky

adindas wrote: »

Why would anyone rational top it up using US Bank to be spent in Europe in foreign currency (say EU) loosing coneversion twice.

It is a completely make up scenario. Why US$ In this scenario why not used african bank where a lot of fraud have been found.

The scenario is actually a quote from Revolut's FAQs (the purpose for quoting is unclear).

There is no 'Conversion twice', Revolut doesn't work like that. Once the USD is added to your account it can be converted/used in any other currency at the interbank rate (within limits). This of course can be very useful, even with the fee for loading funds by non-EEA card.

adindas

eDicky wrote: »

The scenario is actually a quote from Revolut's FAQs (the purpose for quoting is unclear).

There is no 'Conversion twice', Revolut doesn't work like that. Once the USD is added to your account it can be converted/used in any other currency at the interbank rate (within limits). This of course can be very useful, even with the fee for loading funds by non-EEA card.

I understand Revolut Home currency issued in the UK is £ and they allow to keep the US$ and EUR currency but it will need at least one conversion for them to make money.

So if you top up using UK debit card it will still need to be converted to to US$.

For the card issued in the UK, I do not think they will allow you to top up directly to US$currency using US bank account. So it will need to be topped up to £ first and then converted to US$.

Given US debit card is used to topped up to £ and then to be spent in other currencies (other than $ and £), it will involve double conversion.

eDicky

adindas wrote: »

I understand Revolut Home currency issued in the UK is £ and they allow to keep the US$ and EUR currency but it will need at least one conversion for them to make money.

So if you top up using UK debit card it will still need to be converted to to US$.

For the card issued in the UK, I do not think they will allow you to top up directly to US$currency using US bank account. So it will need to be topped up to £ first and then converted to US$.

Given US debit card is used to topped up to £ and then to be spent in other currencies (other than $ and £), it will involve double conversion.

Instead of theorising mistakenly, better to check how Revolut actually works if you're interested, see their FAQs etc.

UrbanAdventurer

faddy wrote: »

I've just loaded my card with £10 from a Nationwide credit card, and my CC available balance has gone down by £10.10 so evidently the 1% is added to the charge to the CC, not deducted from the amount loaded.

If Nationwide was treating this as a cash transaction, does anyone know if it would have been reduced the available balance at the same time as the transaction or if it's only charged once the transaction shows on the account?

I've not seen this using my Nationwide Credit Card, never been charged a fee either by Revolut or Nationwide< I think they have changed their fee model

UrbanAdventurer

faddy wrote: »

You are aware of the 1% Revolut charges for credit card top ups, irrespective of what the credit card may or may not charge?

Again, I've not seen this using my Nationwide Credit Card, never been charged a fee either by Revolut or Nationwide, I think they have changed their fee model