Revolut - Commision free FX and International debit card

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A new app based 'bank' has been set up called Revolut.

Revolut say they offer:
  • Commission free FX with no FX margins.
  • International debit and ATM card with no fees.
  • EUR, GBP and USD online app based cash accounts.
  • No FX fees when the card is used abroad.
  • 5 GBP sign up bonus when using the code "MSE".
  • Free withdrawals and top ups.
  • No fees guaranteed for first 12 months.
Revolut say they make money from the charges to retailers when the card is used. Difficult to see how their offer is long term sustainable.

I have been playing with the account for the last few weeks, good app, no issues getting and using the card and FX service does seem to be commission free and margin free. Only issue was the wire to the account took a few days for Revolut to apply.
 
Glad to see a specific thread for Revolut. I joined a few weeks back. I've used PTSB debit card to lodge money and it happens in real time.

I withdrew to my PTSB current account and it takes a good few days. I've withdrawn at a ATM and changed my PIN.

One or 2 minor issues e.g. Energia don't seem to recognise it.
 
I can also highly recommend - have been using online for USD and GBP purchases and tested (successfully) withdrawing money from and ATM in Ireland. Look forward to using when next in UK/USA
 
CiaranT, nice tip. Signed up, just waiting on my physical card, have successfully used the "app" version to order online. Looking forward to using it abroad. I also like the ability to block it using the app. I'm going to use mine online and in other less secure locations to help prevent the debit card attached to my current account from being compromised. Thanks again.
 
Marks & Spencers wouldn't take it. I have used it in Supervalu no problem. They are working on bringing out a contactless card. It will be at least another few months. They have aprox. 50,000 active users.
 
I have used the physical card to withdraw from ATMs in Norway, and to make purchases in Sweden. I've also used it on paypal and amazon with no problems at all.
 
theresa1 said:
Marks & Spencers wouldn't take it. I have used it in Supervalu no problem. They are working on bringing out a contactless card. It will be at least another few months. They have aprox. 50,000 active users.
Click to expand...
I have used in M&S Grafton Street with no problem
 
I've read about someone using Bluestacks an android emulator on a pc. It could get messy, not sure.
 
Seriously impressed with this Revolut card. Used mine a few hours ago to rent a car at Boston's Logan Airport. Just got groceries at Stop & Shop. Got €1=$1.0668 with Revolut while oanda.com is quoting €1=$1.06502. Very, very close, and no debit card fees :)
 
TLO - was it generally accepted in Boston? Did you get any declines? You would think if retailer/merchant has the mastercard symbol, it would be accepted.
 
Revolut had a 'payment authorisation' problem on Wednesday/Thursday and people had problems like not being able to withdraw cash at ATM and point of sale being declined.

It's a fantastic product but always have a plan B e.g. another debit card, bit of local cash on hand as a back up.

AIB, PTSB, BOI etc. also have issues from time to time.
 
I've had 100% acceptance at retailers (Stop & Shop, Bed Bath & Beyond, Christmas Tree Shops (twice)). I just say credit when asked, "credit or debit?" Interestingly, ATMs at smaller banks, and non-bank ATMs may have trouble with it. I was declined at the ATM beside the food court in the Cape Cod Mall and at an ATM at a branch of Rockland Trust. But at a Bank of America ATM I took out $260, no fees, and a rate of €1=$1.0642, in other words €244.
 
According to https://revolut.com/faq the Vietnamese Dong is a supported currency, along with 90+ others, so the card should work in Vietnamese establishments that accept MasterCard. But as theresa1 points out above, make sure you have a backup debit card and local cash.
 
Hi Ciaran, you said it took a few days for the transfer to be applied, I sent a sepa transfer on the 8th Dec and 8 later it has still not been applied, how long does it normally take?

Thanks
 
G7979 said:
Hi Ciaran, you said it took a few days for the transfer to be applied, I sent a sepa transfer on the 8th Dec and 8 later it has still not been applied, how long does it normally take?

Thanks
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SEPA transfers should arrive on the next business day at the latest. My transfer came a lot sooner than 8 days.

I suggest you contact Revolut with the details.
 
I've signed up for this and downloaded the app but it's come a bit too soon for me I'm afraid as I leave for the US on Saturday and the card will not have arrived before then.

Is there anything that can be done with the app when paying for things in shops, etc? I guess you'd have to manually put in the card info??
 
Yorky said:
You'd need the card for chip & pin purchases
Click to expand...

But they don;t use chip & pin in the US. I guess there is no proximity payment option (or whatever it's called)? So, unfortunately this is basically useless to me for this trip?? :(
 
A lot of larger US retailers now have chip & pin terminals. Those that don't will swipe the card and ask for your signature. Deano, on the off-chance that the card does arrive before Saturday make sure that it works in an Irish ATM before trying it abroad. It's easier to sort out any glitches while still at home.
 
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