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Trip Planning Florida Florida Holiday Planning Questions, Suggestions and Tips. |
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22 Jun 17, 10:58 PM |
#1
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Earning My Ears
Join Date: Jan 17
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Revolut questions
I've done plenty of searching on here about Revolut and the other pre pay cards but still have some questions which I'll try and keep simple!
1. If I load one up gradually with pounds as a means of saving for next years spending money, can I convert part or all of it to dollars if I see a rate I like then leave it on there in dollars, or do you just load it in gbp and it auto converts at the day rate at the time of any transacations? 2. I believe the money is ring fenced if Revolut went belly up, but is there any other security if it was skimmed / hacked? I've read the tips about not using them in restaurants or saving tips in cash to avoid ghost transactions but worry about having a lot on there and it getting hacked. I know you can activate / freeze the card instantly on the app but surely as soon as you reactivate it, any previous skim attempts could then go through if the skimmer kept trying? Any tips / solutions? I don't want to use a credit card but don't want huge amounts of cash on me either. I was thinking of transferring bits at a time from my banking app to Revolut whilst in Florida but then you miss out on potentially better rates if they're better between now and when we go. |
23 Jun 17, 07:48 AM |
#2
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Imagineer
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I can answer part 1
Yes you can load £s on and just change part of balance into $ I've still got $ and € on mine as well as £ As for security I'm not 100% sure but I'm sure someone will come along with answers I do know if you have blocked your card on app and try to use it the app tells you (DW forgot to unblock hers last year and tried to use it)
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23 Jun 17, 10:08 AM |
#3
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Very Serious Dibber
Join Date: Jan 17
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The easiest way to secure your money is to not have it in the Revolut account. I only move money from my regular account to Revolut when I need it. It's one downfall is that it isn't guaranteed to be ringfenced
However if you have it disabled, or even have any of the settings turned off, you are notified if something tries to charge the account So if you get one of these, I'd notify Revolut and your account won't lose the money
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23 Jun 17, 11:38 AM |
#4
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Imagineer
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don't forget that whichever device you use the app on has to be with you ie phone, ipad etc in the USA (not necessarily on your person all the time) otherwise the app will think your card has been stolen and block the card
There are limits on how much you can withdraw from and ATM per month fee free as well but most cards of this type charge some sort of fee nowadays
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She is much more intelligent than me |
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23 Jun 17, 11:45 AM |
#5
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Very Serious Dibber
Join Date: Jan 17
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You can, and should, turn off location based security when travelling
There's just too many variables (network connection, payment routers etc). That will mean you don't have to have the app near you
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23 Jun 17, 02:40 PM |
#6
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Excited about Disney
Join Date: Jan 15
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I've used Revolut in US and across Europe and really like it. I only load money onto it when I need it as exchange rates don't change too dramatically (apart from when we vote leave) and the load is instant. I've had the card for 4 years but don't leave money on there in case anything happens to the company or the card.
The only thing I'm not so keen on now is the limit on free withdrawals. I got mine when there wasn't a limit and it made it so much more flexible. I've now got a Halifax Clarity card but will still be taking the Revolut as a backup. |
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25 Jun 17, 06:08 PM |
#7
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Thread Starter
Earning My Ears
Join Date: Jan 17
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Thanks all. I'd have liked to transfer into dollars as and when the rate looks good but to be honest, even a few points each way isn't a great saving unless your changing thousands at a time
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25 Jun 17, 07:52 PM |
#8
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Apprentice Imagineer
Join Date: Oct 07
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Personally, I'd prefer to go with the current rate on the day. So would only load up with £'s as and when needed.
The odd 3-5 cents shift in the exchange rate ain't going to cost that much more on a two week holiday. You'll spend more on tips (15%, 17%, 20%). |
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25 Jun 17, 08:12 PM |
#9
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Serious Dibber
Join Date: May 16
Location: Somerset, UK
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These prepaid cards are the same as having cash. Security is pretty minimal so I wouldn't rely on getting your money back in any timely manner/if at all should the worst happen. Customer services are known to be slow/unuseful in times of emergency. IE 7 days to get something sorted. If all/majority of your holiday money is on there then you are screwed.
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25 Jun 17, 09:17 PM |
#10
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Very Serious Dibber
Join Date: Jan 17
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If any card is skimmed, and all your holiday money is coming from it, you're screwed. You might eventually get it back with CC or bank debit cards but you're unlikely to get it back while you're away
Take usual precautions and have a couple of means and you'll be fine
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