Revolut question

[Nojustice]

Hi,

Want some clarification on how to use my revolut card, i intend topping up from my UK account on a regular basis during my holiday so..

From what I gather from Santander if i top up my revolut in USD i get charged about £1.50 per transaction , what is everyones process

I was just thinking , top-up revolut with GBP (possibly no charge) then immediately convert to USD in app?

So confused here...

[Guest]

Top up with GBP then leave as GBP, when you buy in USD it will get converted there and then at the best Mastercard rate, or you can convert as soon as you top up to lock in the rate at the time. Choice is yours but yes top up in GBP.

[amarooney]

You load your revolut card with GBP via your linked debit card. You then convert this to dollars at whatever is the going rate. You do not have to convert all of the pounds into dollars. This involves no charge. Transactions using the card are free, you can withdraw £200 worth of dollars per month from an ATM for free (although most ATMS incur a cost for using them. Those at Disney cost two dollars). If you have any remaining dollars left on your card you can convert these back to GBP at whatever is the going rate and then transfer this back to your debit card for no cost.

[CinemaMan]

I top up from my Santander account in GB Pounds and then exchange to dollars no bank fees at all.

[Forkbeard]

When the exchange rates are favourable (difficult I know) then transfer pounds to the Revolut, within their app, and convert those pounds to dollars, also within their app.

That's it.

You can do this as many times as you like. You may prefer to spread the cost over lots of payments or go for one large payment in order to grab the best rate. Obviously no one knows when the best rate will happen, so it's a bit of a gamble really.

Right now rates are around the 1.3 mark, and a month ago we were hoping for a climb up to 1.35 before we go. We let slide the 1.32 and of course it dropped to 1.28 soon after Fingers crossed.

[bighal]

A quick tip don't exchange one large amount as the rate will be slightly less than if you do several smaller ones. You will see what i mean when you put in the figures on the app. You dont need to have that actual amount in your Revolut account to see what you could get in theory.

[Forkbeard]

Originally Posted by bighal

A quick tip don't exchange one large amount as the rate will be slightly less than if you do several smaller ones. You will see what i mean when you put in the figures on the app. You dont need to have that actual amount in your Revolut account to see what you could get in theory.

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I'm assuming that's the result of rounding. The rate has four decimal places I believe?!?

[Nojustice]

Thanks all for your help appreciated

[eeyoremad]

definitely only ever top up in gbp

[bighal]

Originally Posted by Forkbeard

I'm assuming that's the result of rounding. The rate has four decimal places I believe?!?

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Just did a quick check £1000 gave $1291 and £10000 gave $12890 which in theory should have been $12910...