Revolut or Clarity or both?!

moneytroll

Trying to get a feel for the rate differences between Clarity and Monzo (or Revolut cards).
Any idea what the saving is roughly on exchange rates, using a prepaid card instead of Clarity? (in %)

I have the Clarity and travel abroad quite a lot and maybe spend about 5-10k in foreign currency abroad. Thinking of also applying for Monzo or Revolut cards.
Has anyone done a calculation what the rate differences are for the likes of Monzo/Revolut vs Halifax Clarity?
I am at a loss of how to quantify the saving and whether the hassle of preloading cash is worth it or not.

Thanks, moneytroll

moneytroll

PS: I may have worked it out by looking at my statement at comparing historical exchange rate:

Clarity exchange rate seems 0.89% worse than spot rate or in other words you pay around £1.53 for every £100.

Not sure it is worth it getting a prepaid card for such a small difference.
Thoughts?

NoodleDoodleMan

Halifax Clarity is a very good credit card for foreign travel - there are other options if you are in a position to settle the full balance when the monthly statement appears after you get home.

The Barclaycard Platinum Travel Card is fee free for ATM use until 31st August 2022 - that's a great deal for the next 4 + years.

https://www.barclaycard.co.uk/personal/credit-cards/platinum-travel-credit-card

Monzo was ATM fee free abroad until quite recently it announced changes - now both the travel card and debit card incur fees after taking £200 within a 30 day period.

https://www.moneysavingexpert.com/news/banking/2017/10/monzo-reveals-new-overseas-atm-fees

I'm not even sure Monzo still offer the travel card as they move to current accounts with debit cards.

Starling debit cards remains fee free - a better choice in my view. I have one and have had no issues.

Tried the Revolut card then dumped it - rather like the curate's egg, good in parts, however there are better options.

moneytroll

NoodleDoodleMan wrote: »

Halifax Clarity is a very good credit card for foreign travel - there are other options if you are in a position to settle the full balance when the monthly statement appears after you get home.

The Barclaycard Platinum Travel Card is fee free for ATM use until 31st August 2022 - that's a great deal for the next 4 + years.

https://www.barclaycard.co.uk/personal/credit-cards/platinum-travel-credit-card

Monzo was ATM fee free abroad until quite recently it announced changes - now both the travel card and debit card incur fees after taking £200 within a 30 day period.

https://www.moneysavingexpert.com/news/banking/2017/10/monzo-reveals-new-overseas-atm-fees

I'm not even sure Monzo still offer the travel card as they move to current accounts with debit cards.

Starling debit cards remains fee free - a better choice in my view. I have one and have had no issues.

Tried the Revolut card then dumped it - rather like the curate's egg, good in parts, however there are better options.

What did you not like about the Revolut card? I was about to sign up with them!

NoodleDoodleMan

Read several reports of people having issues.

Type problems with revolut card into Google.

worried_jim

I have and use both Revolut and Monzo. I have used them in Turkey and the U.S. Happy to travel with both.

eDicky

Issues with Revolut that people report here are nearly always caused by themselves, through misuse/abuse or going over the limits allowed before verification, etc. The demands on their in-app chat customer services has been exacerbated by the 200,000 new Revolut users jumping in to the new cryptocurrency services without really knowing what they are doing and getting themselves in a mess. Unless you are prepared to avoid making mistakes by learning how to use the app correctly and fully verify your account identity, it's best to avoid Revolut and use Starling Bank or Loot.io instead.

Monzo prepaid is no longer available and there's a waiting list for their bank account.

It's pointless trying to compare the daily MasterCard rate used by Clarity, Monzo, Loot etc, with the interbank rate used and updated every half second (weekdays) by Revolut - they are both as perfect as you can get.

Never travel without at least two sources of funds, preferably fee-free but also with your regular bank card, just in case the others all fail or are lost etc.