Revolut vs AIB, EUR to GBP FX rates

A

ATC110

Registered User
Messages
427
I purchased £1000 GBP today via Revolut, at cost of €1193.19 EUR.

I then mistakenly added £1000 GBP from my AIB EUR account (rather than €1000 EUR) and it cost €1190.85 EUR.

I checked with AIB that no additional fees will be levied.

Has anyone else experienced a preferential FX rate from a high street bank versus Revolut?
 
The standard revelut account (free) charges 1% fee for transactions above €1000 on exchanges. This probably has a bearing on the rate you paid as oppose to the AIB one.

Edit: According to here.
 
ATC110 said:
Has anyone else experienced a preferential FX rate from a high street bank versus Revolut?
Click to expand...
The Revolut rate is live during business hours. You can see it change if you hesitate before making the conversion.

Not sure how AIB do it but it could have been an artefact of currency moves during the day.
 
Seems strange as both rates look like they are within 0.4% or less of mid market rates at different points today.

You may find AIB do have a fee that will appear separately on a fees statement and the person you talked to may not have seen this.
 
peemac said:
You may find AIB do have a fee that will appear separately on a fees statement and the person you talked to may not have seen this
Click to expand...
This is what my wife sees in her AIB account when she doesn't use revolut
 
To clarify, I added the funds via the Revolut app using Apple Pay, effectively "pulling" the transfer from AIB. I have always selected EUR as the denomination but this time it was GBP.

I am assuming the FX conversion would be carried out by AIB, however, perhaps this is done by Revolut?
 
The conversion would be calculated by Revolut. They will take the euro amount required from AIB to add the sterling amount to your Revolut.
 
You must log in or register to reply here.
Back
Top