Revolut latest update! WOW

[gus-lopez]

Am I reading Revolut terms correctly where if you want a large transaction then they charge 0.5% on the full value so £500 on £100,000 purchase?

& many spanish banks charge 0,4% of any cheque or online transaction regardless of amount.

 

[Minxy]

I have some spare tin foil for a hat if you need it

Nah, needs to go the whole hog and get a MH that's protected with tin foil insulation ... such as the Globecar that @Blue Knight has!

 

[Margaritaman]

Having had Revolut for a over 2 years now one of the features I and many put on the wish list has been added! You can now set a target conversion rate, the amount you want to convert and when it reaches the rate Revolut performs the transaction for you. So for example if you were watching the current Euro rate and decided that you would wait until the rate hit 1.16 to change £1000, you just set that, ensure you have a £1000 in your sterling Revolut account and sit back. If you used the alerts function it is now where that was/is only its now called actions. Click that and you have an option to set alerts or set exchange action.

Excellent in my view, unless you get enjoyment from logging into Revolut every hour!

Thanks @sallylillian ,
Got some US $ at 1.33 today without having to keep monitoring the exchange rate.

 

[sallylillian]

Thanks @sallylillian ,
Got some US $ at 1.33 today without having to keep monitoring the exchange rate.

Bought some more Euros myself automatically at 1.17. So it works great. Set another buy at 1.18. What would be good also is a "stop loss" type of setting so you can ensure that you dont miss a peak rate. So either a definitive exchange rate or a % below peak over a set period. But that's probably getting too professional.

 

[Cheshirecat57]

Didn't know it was such hard work to live on the continent
I would DEFINITELY call this a 1st-world problem

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

 

[gus-lopez]

Didn't know it was such hard work to live on the continent
I would DEFINITELY call this a 1st-world problem

Only brought about by failing to enter the euro @1,62€ back in 2002 when they should have gone in or fixed that rate for when they did.

 

[Camdoon]

Thought this was about its money laundering escapades. Behind Telegraph firewall but all you need to know in first few paragraphs
https://www.telegraph.co.uk/technology/2019/02/28/revolut-failed-block-suspicious-transactions/
Wonder how many Funsters got away with?

 

[Augusta08]

Thought this was about its money laundering escapades. Behind Telegraph firewall but all you need to know in first few paragraphs
https://www.telegraph.co.uk/technology/2019/02/28/revolut-failed-block-suspicious-transactions/
Wonder how many Funsters got away with?

I'm sure some funsters don't care.
The FCA is being paranoid.
Some people are only happy when they are worried.

 

[rrusty]

Tried Caxton then Revolut, but now use Currencies Direct

 

[Cheshirecat57]

I'm sure some funsters don't care.
The FCA is being paranoid.
Some people are only happy when they are worried.

That worries me

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

 

[The Lord Squid]

Another side of Revolut
https://www.wired.co.uk/article/revolut-trade-unions-labour-fintech-politics-storonsky

 

[funflair]

So a question for Revolut expert we are in Madeira with Revolut card loaded with € but very little actual cash “good planning eh” I understand I can draw cash straight from the € account but every ATM I try wants to convert from the £ account at a crap rate.

How do I get € straight from the card.

Please help before we starve

Martin

 

[sallylillian]

Martin, there will be an option on the ATM screen for conversion, say no to conversion. Read the screens carefully as they try to deceive.

 

[gwyntaxi]

Nice one ... do you think it'll ever convert if I set it at 1.30 though ...

Hi Minxy,
I think that once all the dust settles and B is all sorted out (if ever) I’m sure the rate will return to a more realistic level, it has risen slightly over the past few weeks 1.14€ at the moment at a local travel agency, I can remember €1.50 only 3years ago. So fingers crossed we might get back to that sort of level.

 

[maxi77]

I'm sure some funsters don't care.
The FCA is being paranoid.
Some people are only happy when they are worried.

Mind you the FCA is the regulator so their opinions carry weight, and it also transpires that the Revolut boss has resigned in the light of the FCA discoveries. I am keeping my revolut balance very low

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

 

[Jake Royd]

Hmm , first of negative comments about Revolut i've come across.
Like some here perhaps I'll keep my balance not quite as high as I had planned for my MH holiday in May.
To be fair, all has gone OK but i'm a beginner with it.
Had a few times it's failed to load money or won't convert it to Euros.

 

[funflair]

Martin, there will be an option on the ATM screen for conversion, say no to conversion. Read the screens carefully as they try to deceive.

Thanks Michael solvent again as you said just reject conversion it doesn’t say anything as simple as “use €account?” But we got money all the same.

Martin

 

[JJ]

Always press "NO" to conversion.

JJ

 

[ShiftZZ]

UK police probe Revolut over fraud claims
Broken Link Removed

 

[Minxy]

UK police probe Revolut over fraud claims
Broken Link Removed

Make sure you read the last few paragraphs as it looks like they need to check their sources before putting out an article as they've foud out themselves that apparently Revolut are NOT being 'probed'!

FinTech Futures contacted Revolut for its official comments about the FT report.

A spokesperson says: “This article relates to a payment of £73,515 from a non-Revolut customer to a Revolut customer. In this case the payment instructions that the non-Revolut customer provided were incorrect and so the funds never reached Revolut.

“On behalf of the customer, Revolut worked with its partners to investigate the misdirected payments to ensure the funds were returned, however, Revolut was never in control of the funds.

“We have spoken with the Met Police and they have confirmed that they are not investigating Revolut in any way and to say so is misleading and damaging to us.”​

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

 

[john lillie]

according to newspapers today, Revolut ARE being investigated for fraud and money laundering, Caveat emptor......

 

[john lillie]

and if it's in the papers, it must be true!!

 

[Minxy]

according to newspapers today, Revolut ARE being investigated for fraud and money laundering, Caveat emptor......

They probably picked up the story from the one linked to above ... obviously the chap from Revolut must by lying mustn't he.

Will be interesting to find out the truth about it all.

 

[Stealaway]

Revolut is at 1.1620 at the moment

Isn't that the exchange (bank) rate I would get using my Halifax credit card?

 

[gus-lopez]

Broken Link Removed

Thanks Michael solvent again as you said just reject conversion it doesn’t say anything as simple as “use €account?” But we got money all the same.

Martin

sometimes after pressing 'n0' it then throws up the same screen & you just press no again. As @sallylillian stated it is deceitful.

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

 

[Ninovan]

Isn't that the exchange (bank) rate I would get using my Halifax credit card?

5 minutes ago, Halifax were quoting 1.1122 euros to £1, Revolut was 1.1651., so no . It is only 5 cents to the pound, but soon adds up

 

[sallylillian]

5 minutes ago, Halifax were quoting 1.1122 euros to £1, Revolut was 1.1651., so no . It is only 5 cents to the pound, but soon adds up

Exactly, some can naively accept hype without actually checking. That is a 5% difference as you say, £5 for every £100.

 

[Stealaway]

5 minutes ago, Halifax were quoting 1.1122 euros to £1, Revolut was 1.1651., so no . It is only 5 cents to the pound, but soon adds up

Is that the tourist exchange rate for cash? Not the bank rate you always receive with payment by card. £1.1598 today

 

[Minxy]

Isn't that the exchange (bank) rate I would get using my Halifax credit card?

The difference is that with Revolut you get the rate showing at the time that you do the currency exchange (ie £ for € or vice-versa) and can do this when you choose so if the rates are good you can take advantage of them and know what you're getting whereas with your Halifax credit card you get the rate at the time you do the deed/purchase over which you have no control so if the rate's crap that's tough.

 

[spitfire]

Hi Minxy,
I think that once all the dust settles and B is all sorted out (if ever) I’m sure the rate will return to a more realistic level, it has risen slightly over the past few weeks 1.14€ at the moment at a local travel agency, I can remember €1.50 only 3years ago. So fingers crossed we might get back to that sort of level.

1.50 three years ago ? Must have been for a nano second ! Living in France for over 15 years it has consistently dropped from the 1.45 rate when we arrived !

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