Revolut - transferring back to GDP?

Glitter_Girl
Glitter_Girl Posts: 16 Forumite
in Flights, currency & car hire
Hi, this is probably a daft question and I probably already know the answer. We have $150 left on our revolut account from last years holiday to Florida. Is there a best way of transferring this back to GDP without losing out on too much money? Any tips or tricks? Or just a case of exchanging it back and losing the exchange rate?

My other thought on it was - is it possible for me to somehow withdraw the $150 from the account here in the UK and I could at least give it to someone I know who is going to the USA?

Just trying to get my moneys worth and not lose too much! Worst case scenario we just leave it in the account and hope we go back to USA over the next few years!

Thanks in advance!

Comments

  • photome
    photome Posts: 16,359 Forumite
    Name Dropper First Anniversary First Post Bake Off Boss!
    Just change it back to pounds in the app, you may even make some money
  • EveryWhere
    EveryWhere Posts: 3,249 Forumite
    But don't do it at a weekend if you can help it.
    That's the beauty of exchanging with Revolut. You can exchange at the best possible rate.
  • Davy_Jones_II
    Davy_Jones_II Posts: 491 Forumite
    Glitter_Girl wrote: »
    Hi, this is probably a daft question and I probably already know the answer. We have $150 left on our revolut account from last years holiday to Florida. Is there a best way of transferring this back to GDP without losing out on too much money? Any tips or tricks? Or just a case of exchanging it back and losing the exchange rate?

    My other thought on it was - is it possible for me to somehow withdraw the $150 from the account here in the UK and I could at least give it to someone I know who is going to the USA?

    Just trying to get my moneys worth and not lose too much! Worst case scenario we just leave it in the account and hope we go back to USA over the next few years!

    Thanks in advance!
    What do you mean by losing the exchange rate?
  • gettingtheresometime
    gettingtheresometime Posts: 6,911 Forumite
    First Anniversary Name Dropper First Post I've been Money Tipped!
    Just thinking out aloud but if they have a Revolut card can you transfer the $ over to their account?
  • eDicky
    eDicky Posts: 6,561 Forumite
    First Anniversary Name Dropper First Post
    You can exchange the USD to GBP at the perfect interbank rate at any time on a weekday. You will only 'lose out' if the pound is now worth more against the dollar than when you exchanged, which is unlikely.

    If you want to give the USD to your friend, he can open a Revolut account and you send them to him instantly without fee. Often there's a way to get the card free, referral link etc.
    Evolution, not revolution
  • Glitter_Girl
    Glitter_Girl Posts: 16 Forumite
    eDicky wrote: »
    You can exchange the USD to GBP at the perfect interbank rate at any time on a weekday. You will only 'lose out' if the pound is now worth more against the dollar than when you exchanged, which is unlikely.

    If you want to give the USD to your friend, he can open a Revolut account and you send them to him instantly without fee. Often there's a way to get the card free, referral link etc.

    Thanks, I’ll need to look into transferring between accounts, I wasn’t sure if that could be done.

    I think we’d lose money just now, bought at 1.25 GDP-USD. Although I don’t really understand exchange rates all that well!
  • Glitter_Girl
    Glitter_Girl Posts: 16 Forumite
    Davy_Jones_II wrote: »
    What do you mean by losing the exchange rate?

    I haven’t worded it very well - I basically mean we’d lose money exchanging it back. I’m trying to figure out if there’s a way to not lose money or not lose a lot of money.
  • Davy_Jones_II
    Davy_Jones_II Posts: 491 Forumite
    Glitter_Girl wrote: »
    I haven’t worded it very well - I basically mean we’d lose money exchanging it back. I’m trying to figure out if there’s a way to not lose money or not lose a lot of money.
    How would you lose money though? If you mean that the exchange rate has moved then you’ve already lost that money, so there’s nothing to be done about that.

    Is this what you mean, or are you thinking that there’s another way that you’ll lose money?
  • photome
    photome Posts: 16,359 Forumite
    Name Dropper First Anniversary First Post Bake Off Boss!
    edited 12 October 2019 at 11:17PM
    Glitter_Girl wrote: »
    I haven’t worded it very well - I basically mean we’d lose money exchanging it back. I’m trying to figure out if there’s a way to not lose money or not lose a lot of money.

    Why would you lose money changing it back, as I said in the very first reply , you may even make money.

    What rate did you change the pounds in to dollars and what rate is it now, it’s easy to see both of those in the app


    Just seen you bought at 1.25 , I can’t get in my Revolut app at mo but think the dollar rate is worse than that at mo so you would make a profit, but I don’t understand why you are asking in here rather than just looking in the app and seeing what the value is ( you can do that before you exchange it)
  • EveryWhere
    EveryWhere Posts: 3,249 Forumite
    Glitter_Girl wrote: »
    I haven’t worded it very well - I basically mean we’d lose money exchanging it back. I’m trying to figure out if there’s a way to not lose money or not lose a lot of money.

    You say you paid £120 for US$150.

    If you sell it now at US$1.265, you'll get £118.57

    You'll lose a massive £1.43! :money:
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