Revolut when the chips are down! (1 Viewer)

[sallylillian]

On Saturday we went cycling from Turiscampo, it was hot and I forgot to put factor one zillion on my nose which always goes red even with the rest of me nicely tanned, so we stopped and Sally got her lip salve out for a quick smudge over as a stop gap. After lunch at the van we were going out shopping and Sally could not find her purse and after an in depth search we realised that as it had been in her bag on the back of the bike all morning the only place it could be was on the roadside where we stopped in the morning. Panic set in, her Revolut card, another bank CC, a debit card, Driving Licence, Euro health card and E200 were in there. Needless to say an intensive search was fruitless after a time delay of 3 hours.
So we set about cancelling her Saga card, they said we can only send a replacement to home, so that was ordered but now useless to us, her N&P debit card could not even be sent to home once they understood we were in Portugal we would have to wait until we are home, which of course we had already mentioned!! Revolut, a totally different affair, all done through the app. Blocked and cancelled the card and ordered a replacement to Turiscampo, £19 for 2 business day delivery, all ordered on the Saturday. Arrived 13:00 today, Wednesday, at reception from Fed Ex!

This card is fast becoming our main Euro travelling card, use an ATM and before the money is in my hand I get a beep on the phone with a notification of the withdrawal, buy a meal, same beep on the phone. No worries about fraudulent use, The ability to run your own currency exchange worked well for me as I sunk a lot of £s into Euros on the card at 1.35 or so, so my trip is still funded at that rate. With this sort of card replacement service it is hard to rely on other cards, it is the Swiss army knife of cards!
Michael

 

[Just smiffy]

Been using it for sometime now... had to verify my identity a while back which was easy, it's all we take now..

 

[gus-lopez]

Good to know.

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[Sheddy]

Lost mine last year in Benidorm, replacement was posted to campsite by mail which cost £5 and was received 6 days later, excellent product with good service.
Cheers
Ed

 

[hilldweller]

So, as far as I can see this is like CaxtonFX but the currency conversion takes place at the time of use. Effectively we lend them some money and they repay us on demand.

With the Halifax card we get the same conversion but we get billed later in the month.

 

[keith]

CaxtonFX today €1.08
Revolut today €1.10

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[Sheddy]

So, as far as I can see this is like CaxtonFX but the currency conversion takes place at the time of use. Effectively we lend them some money and they repay us on demand.

With the Halifax card we get the same conversion but we get billed later in the month.

When we got the revolut card I transferred sterling onto the card, then waited until the exchange rate with the Euro was good, went into the app, watched the live rate on my phone and pressed the exchange button at the best rate as it fluctuated, that transfer is now on my account as euros and I withdraw them as euros from the ATMS in euroland being careful not to allow the atm to try and charge me for the conversion.
If I want to I can convert them back to sterling and get the current exchange rate. You can hold currency in Euros, Sterling and Dollars all at the same time, making payments or withdrawals in each of them where ever you are.
Cheers
Ed

 

[hilldweller]

went into the app, watched the live rate on my phone and pressed the exchange button at the best rate as it fluctuated
Ed

Ed the currency trader !

I think CaxtonFX can do something similar now but I've not paid much attention to that part of app because it does not interest me.

 

[keith]

CaxtonFX today €1.08
Revolut today €1.10

Halifax today €1.0581

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[Techno]

So, as far as I can see this is like CaxtonFX but the currency conversion takes place at the time of use. Effectively we lend them some money and they repay us on demand.

With the Halifax card we get the same conversion but we get billed later in the month.

No you can change sterling to Euros at anytime you like and spend it later. You can also instantly turn euro back to sterling. I bought my euros at 1:40 and changed them back at 1:18, little did I know that it would continue to fall.
Revolut give the "interbank rate" so always higher than other offerings from Catshit oh sorry Caxton

 

[Deleted member 29692]

So, as far as I can see this is like CaxtonFX but the currency conversion takes place at the time of use. Effectively we lend them some money and they repay us on demand.

With the Halifax card we get the same conversion but we get billed later in the month.

Nope and nope.

You load your Revolut card with Sterling, can hold it on the card as Sterling and can exchange it whenever you want unlike Caxton which has to be exchanged at the time of loading.

Revolut use the interbank spot rate which updates every few seconds. Halifax use the MasterCard daily rate which is updated every 24 hours. This is usually at least a couple of cents worse than the spot rate. Caxton use some other daily rate. Not sure which one.

 

[Techno]

Also with revolut you have a virtual card within the app so even if you misplace it you can still shop online.

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[hilldweller]

It may me a bit early in the companie's life to trust it with too much cash............

Russian-born Storonsky had the idea when working as a derivatives trader, first at Lehman Brothers then at Credit Suisse. He told BI: "I was a very frequent traveller. One of my problems was I spent a lot of money on FX fees so I decided to create a product that dealt with my personal pain."

Since launching last July, Revolut has signed up 160,000 customers, Storonsky said. "We're already, I think, the fastest growing fintech company in Europe," he told BI. "We are getting about 1,500 new customers a day."

 

[Techno]

They don't hold the cash

 

[Techno]

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[carolyn]

We have one and love it, encouraged daughter to get one and she has just used it in Peru and Bolivia with no problems.