Revolut fair usage policy

[telsdog]

When did Revolut introduce there fair usage policy and start charging per transaction. I must have missed the email.

 

[Gellyneck]

and did those Funsters who use Revolut see the article on Rip off Britain yesterday?

 

[Al n Val]

and did those Funsters who use Revolut see the article on Rip off Britain yesterday?

Yes I did

 

[Lenny HB]

Link please.

 

[Two on Tour]

Link please.

On the iPlayer Lenny, start watching at 21 minutes in.

BBC One - Rip Off Britain, Series 14, Episode 11

A mother tries to wrestle back control of her late son’s social media accounts.

www.bbc.co.uk

Those of you with a Revolut account REALLY needs to watch this article.

^{_{Subscribers  do not see these advertisements}}

 

[Gellyneck]

On the iPlayer Lenny, start watching at 21 minutes in.

BBC One - Rip Off Britain, Series 14, Episode 11

A mother tries to wrestle back control of her late son’s social media accounts.

www.bbc.co.uk

Those of you with a Revolut account REALLY needs to watch this article.

and the other three "challenger banks" mentioned, Monzo, Monese and Starling.

 

[Langtoftlad]

Mentioned - but no criticism of Starling Bank

I have quite a few bank accounts - never been advised by any of them about the 159 fraud hotline

 

[Gellyneck]

Mentioned - but no criticism of Starling Bank

I have quite a few bank accounts - never been advised by any of them about the 159 fraud hotline

To be fair they were the "better" of the bunch but was there not some criticism around dedicated fraud line contact? Can't remember so could be wrong.

 

[SM0129]

I have been using Revolut from day 1 and have never had any problems. I suppose it depends what you use it for- I used to use it when travelling and would top up a few hundred pounds, convert it to whatever currency I needed. Once that was spent I would then top up a bit more etc. I now have a house in France and have a French bank account- I top up my Revolut, convert to Euros and immediately transfer it to my French bank account.

The cases on Rip Of Britain- one person transferred their life savings to Revolut- I certainly wouldn't do that and the other case was someone phoned her up and asked her if she would help catch scammers- I certainly wouldn't do that / I would not entertain the idea of an approach like that over the phone

Regarding the OP- I wasn't aware of a fair usage policy (I will research that now) but I was aware that they had slipped in fees when topping up/ converting currency at weekends

 

[Littlewheels]

I have been using Revolut from day 1 and have never had any problems. I suppose it depends what you use it for- I used to use it when travelling and would top up a few hundred pounds, convert it to whatever currency I needed. Once that was spent I would then top up a bit more etc. I now have a house in France and have a French bank account- I top up my Revolut, convert to Euros and immediately transfer it to my French bank account.

The cases on Rip Of Britain- one person transferred their life savings to Revolut- I certainly wouldn't do that and the other case was someone phoned her up and asked her if she would help catch scammers- I certainly wouldn't do that / I would not entertain the idea of an approach like that over the phone

Regarding the OP- I wasn't aware of a fair usage policy (I will research that now) but I was aware that they had slipped in fees when topping up/ converting currency at weekends

For those of us that didn’t watch it thanks for putting this information forward and in perspective.

^{_{Subscribers  do not see these advertisements}}

 

[funflair]

She put all her savings ino Revolut why?

 

[Gellyneck]

The cases on Rip Of Britain- one person transferred their life savings to Revolut- I certainly wouldn't do that and the other case was someone phoned her up and asked her if she would help catch scammers- I certainly wouldn't do that / I would not entertain the idea of an approach like that over the phone

Agree with they were stupid however the main take for me, and the program, was the absolute lack of support from the institution including no fraud helpline, not signatories to the new voluntary refund mechanism, etc.

 

[Bailey58]

I use Clarity and Revolut for overseas but only ever keep £100 or so in the latter which gets topped up as and when. Alarming to see the delay in response to the young girl but, like all scams, it's up to the individual to be aware.

 

[gus-lopez]

She put all her savings ino Revolut why?

Similar to when there was a run on Northern Rock in the crisis & one woman interviewed had £750,000 held with them?

I use revolut for most of the house dd's & so's. I send £'s to revolut changte to €'s as & when & get around the 200€/cash/month by sending €'s to another account ,N26, which allows cash withdrawals foc of 3 x month up to 3k in total.

 

[Langtoftlad]

To be fair they were the "better" of the bunch but was there not some criticism around dedicated fraud line contact? Can't remember so could be wrong.

Respectfully - you are wrong.

^{_{Subscribers  do not see these advertisements}}

 

[Just smiffy]

Does this kind of fraud not happen with other high street banks..?

 

[telsdog]

Regarding the OP- I wasn't aware of a fair usage policy (I will research that now) but I was aware that they had slipped in fees when topping up/ converting currency at weekends

Away in France and noticed I was being charged a fee for each transaction. This is what appears whin I tap info.

 

[Two on Tour]

Does this kind of fraud not happen with other high street banks..?

Yes, but they have dedicated fraud phone lines to contact your high st bank and you can talk to a human.

 

[jongood]

Away in France and noticed I was being charged a fee for each transaction. This is what appears whin I tap info. View attachment 673209

I still think it's a better deal than most other methods. I'm still using my Euros i bought at €1.19.

 

[SM0129]

Away in France and noticed I was being charged a fee for each transaction. This is what appears whin I tap info. View attachment 673209

Thanks for highlighting this. It is the time of year where I have to pay the 2 elements of French "council tax" plus I am undertaking a kitchen refurb- I will ensure I keep my transfers within this limit

^{_{Subscribers  do not see these advertisements}}

 

[Manic]

and did those Funsters who use Revolut see the article on Rip off Britain yesterday?

Well I think if I’m rang and said transfer my money, I would be suspicious, but she did get her money back.
I will continue using my Revolut but I only have a couple of hundred it at any time.

 

[Stewart J]

Presently touring Spain so can’t watch the program on iPlayer on my freebie vpn so thanks all for the info. I top up my Revolut card when rates are favourable and use it for shopping, site fees etc. Have about 1000 euro on it much of the time and haven’t noticed any underhand fees.

 

[Manic]

haven’t noticed any underhand fees.

I wonder if the op is talking about ATM withdrawals, Revolut limit that.

 

[Bailey58]

I wonder if the op is talking about ATM withdrawals, Revolut limit that.

Maybe so, I've never withdrawn cash but I seem to remember there was always a monthly limit on cash withdrawals, for the free card that is.

 

[telsdog]

I wonder if the op is talking about ATM withdrawals, Revolut limit that.

No , not ATM. This is a charge I think,for changing more than £1000 into other currency in one month.

^{_{Subscribers  do not see these advertisements}}

 

[bobnick]

I was seriously considering opening a Revolut acct, not now going to. I'm not bothered in saving 3p? on a transaction or the risk associated.
I cannot see what substantial benifits it provides over my bricks and mortar DCs and CCs.
The 159 fraud # was informative.
Thanks for the link.

 

[Coastal Cruiser.]

Only have my Revolut card to use and it gets used for everything, have even set up Mrs CC with it on her phone
Never been charged and I did also buy my new motorhome from Germany with it the first time I used it.
That was a bit worrying as big chunk of money in an account I had just opened but it was fine and saved a fair few thousand pounds by going with them.

 

[Manic]

No , not ATM. This is a charge I think,for changing more than £1000 into other currency in one month.

That ok then would affect me.

 

[Shrimp]

I only put small amounts onto my Revolut card when we are going to or in France.
Had Revolut for years now and not had any problems, it’s as safe as any of these cards and banks!
The scams and fraud are the same with any bank, if you’re dumb enough to listen to them……!

 

[Lenny HB]

I was seriously considering opening a Revolut acct, not now going to. I'm not bothered in saving 3p? on a transaction or the risk associated.
I cannot see what substantial benifits it provides over my bricks and mortar DCs and CCs.
The 159 fraud # was informative.
Thanks for the link.

Main advantage is buying currency at the right price. As long as you are sensible how you use them, they are fine.

Last time we changed Motorhomes we used Revolut to pay the difference which was only €10,000 by using both our accounts to stay in the free transaction limit and buying the currency a couple of months before we saved £400.

We had one transaction in Belgium that went through twice, contacted them via their chat and was refunded in minutes.

The only thing I don't like is that you can only contact them via chat.

^{_{Subscribers  do not see these advertisements}}