Revolut rate

I have recently got a Revolut account, I did an application for an Irish passport for Mrs. Odd and forgot to use it,
2.7% charge and lousy exchange rate on my Tesco card :doh:
 
Yes the euro is struggling a little since the ECB reduced their interest rate last week
 
Brains said:
Just remember it's not a bank.

Starling offers the same things as Revolut, except its a Bank, it pays interest.

We looked into all of the Euro cards, Revelote did not make the top 5 best options, we went with Starling.
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I thank you for your interest in this matter.

I am fully aware of exactly what Revolut is.

I don't need it to be a bank... I have banks in Blighty and Portugal.

I have no interest in earning interest on my Revolut card.

The "Top Five" obviously came up with a solution for you... they would do nothing for me!

I am a hermit who lives a very simple and happy life in the wilds of central Portugal.

I have much more money than I need to to sustain my lifestyle.

Revolut does all the things I need a debit card to do and then some.

Remember we all have different needs and desires... ;)

As I mentioned before...

REVOLUT ROOLS

JJ :cool:
 
Brains said:
Just remember it's not a bank.

Starling offers the same things as Revolut, except its a Bank, it pays interest.

We looked into all of the Euro cards, Revelote did not make the top 5 best options, we went with Starling.
Click to expand...

Yes I’m with Starling too, for around six years now.

WRT 1.18, that’s the best we have seen for well over a year now. 1.20 was last seen in March ‘23. ✔️
 
Jim said:
Can you have different currency accounts with Starling that you can load when rates are good?
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Yes.

By default you have a GB£ account.
You then add a €uro account and put £1 in it to get you started
(other currencies are available)

As and when the €/£ is good (like at the moment) you transfer pounds into your Euro account (or whatever currency required) where it then sits.
It means you only pay a single conversion cost.

(Any site offering "free" conversion between currencies has to make money somewhere, otherwise there is no point in offering the service. The usual method is by not offering such a good rate)

When paying by card in the EU by default you pay in Euros from the Euro account, so no further conversion costs to pay
(and of course a much better rate if you converted at a high point!)

FYI:
If you keep over £5k in your Starling GBP£ account, they are paying the highest interest rate on the high street at the moment.
 
I wondered why I was struggling to find how to open one. From their site.

We’re not accepting applications for euro or US dollar accounts at the moment, but they’ll be available to apply for again soon.
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We tend to do our exchange conversions on our Revolut cards which allows each of us a £1000 monthly exchange limit without fees, but as there is also a monthly £200 ATM limit without charges, we then transfer some of the Emu's from Revolut to our Starling Emu account with no charges to use at ATMs as and when needed. (y)
 
Rates are pretty much standard across modern foreign use cards.

Alternatives with no charges are ...

Chase (includes 1% cashback on all spending so even better) debit card and a proper bank.

Barclaycard rewards is a credit card so better protection and 0.5% cashback. Also no interest charges in ATM withdrawals which is rare for a credit card.

I've said it before - I think these are better than revolut for general holiday spending.

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Jim said:
I wondered why I was struggling to find how to open one. From their site.
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You have to start with a £ account.
It's a bit of a process to go through
(That said, it's much the same for all the services)

You do it on your mobile.
They ask a load of questions, name address, DoB etc etc.
They then take a 10 second video of you saying your full name
They also take a photo of your passport

The £ account then takes a few days to become active and they send you a card in the post.

Once the £ account is active and you have a few quid in there, you can then set up the € account.

It's all a bit of faff to set up, but I don't think Starling is any different to any other similar service.
And obviously don't try to do it all the week before you are off!
 
I have a £ current account with them. They are not allowing creating of Euro accounts right now.
 
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What they have not added is IBAN numbers.
So you can pay and be paid in Euros by Bank transfer.

Only the Banks can offer this, so NOT Revolut, Monzo or First Direct.

Also some of the Euro cards either Limit the amount of cash you can get from at ATM &/or charge for ATM transactions.
I think Revolut limits it to €200 per month and Monzo charges.
 
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Brains said:
Interesting.
I guess it's to do with the rates.
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I just transferred next summer's holiday money from the Starling £ a/c to the Starling € a/c at £/€1.18
So if you have the account. it works.

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Jim said:
Can you have different currency accounts with Starling that you can load when rates are good?
Click to expand...

I certainly maintain a Euro account and load when rates are good! Not sure on USD or other currencies.
 
Brains said:
I just transferred next summer's holiday money from the Starling £ a/c to the Starling € a/c at £/€1.18
So if you have the account. it works.
Click to expand...
I've had a little used Starling account for a couple of years but didn't know I could load it with Euros, It was your post that made me investigate. It's certainly not as obvious as it is for the Revolut card. Then, trying to set it up, I come across the message they are not allowing EURO or USD accounts to be opened. However, I did take advantage of the rates morning with Revolut. They make it so easy with a dozen currencies (y)
 
Jim said:
Can you have different currency accounts with Starling that you can load when rates are good?
Click to expand...
Only one extra account, that is why I have retained my Revolut as I need multiple currencies.
 
Sheddy said:
Were there any transfer charges?
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see #12

As and when the €/£ is good (like at the moment) you transfer pounds into your Euro account (or whatever currency required) where it then sits.
It means you only pay a single conversion cost.

(Any site offering "free" conversion between currencies has to make money somewhere, otherwise there is no point in offering the service. The usual method is by not offering such a good rate)

When paying by card in the EU by default you pay in Euros from the Euro account, so no further conversion costs to pay
(and of course a much better rate if you converted at a high point!)

Subscribers  do not see these advertisements

 
Jim said:
I've had a little used Starling account for a couple of years but didn't know I could load it with Euros, It was your post that made me investigate. It's certainly not as obvious as it is for the Revolut card. Then, trying to set it up, I come across the message they are not allowing EURO or USD accounts to be opened. However, I did take advantage of the rates morning with Revolut. They make it so easy with a dozen currencies (y)
Click to expand...
Having to open an account for each currency sounds like a PIA, big advantage with Revolut is the ability to trade in almost any currency.
 
I have found today that Revolut only allowing up to £200 exchange fees free to Euros before starting to charge. On the standard (free) plan.
Also worth considering is that currently a reasonable interest rate on savings so maybe not worth holding lots of euros in an account with no interest. When the exchange rates were this good back a couple of years, the interest rates on sterling savings or even c/a were pants so seemed a better deal.
 
Brains said:
What they have not added is IBAN numbers.
So you can pay and be paid in Euros by Bank transfer.

Only the Banks can offer this, so NOT Revolut,
Click to expand...
I have Iban numbers on all my revolut accounts?
I use them for all the dad's and sons payable monthly and yearly.
 
This thread has reminded me to open a Revolut account for Mrs. Odd, I will get £50 and she will use the card when she goes to Ireland in a few weeks

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