Revolut

[BrummieDave]

I have just applied for and received a Revolut Card having been looking for the optimum (cheapest and convenient) way spend money abroad. My research over several weeks concluded in Revolut being the one to try.

Anyone got experience of Revolut and therefore things that have worked well/worked badly, recommendations/pitfalls to avoid etc.?

For anyone not familiar with Revolut, they are a London based start-up (but not new), offering a pre-paid travel card that has (currently) no fees, uses the MasterCard global network, and converts both cash withdrawals and payments at the interbank rate, with virtually all currencies supported. It's app based (and the app is good) and the only downside I see so far is the monthly limit on ATM cash withdrawals prior to a 2% fee being applied. That said, I'm yet to use it.

(no affiliation, no introductory fees being fished)

[paulnumbers]

I have one and it's always worked fine for me.

I also carry Halifax clarity when abroad. Always good to have options.

[BrummieDave]

Thanks, and without being too nosey (and feel free to ignore the question) have you used it much in Asia/Pacific Rim? One of the reasons I went for Revolut over Monzo is that as well as being contactless and chip & pin, the card has a mag stripe. Important at ATMs in some countries, particular in that region.

[Instep]

It looks tempting. I might get one as an alternative. £200 ATM limit per month might be a bit restrictive. Thinking of using this in southern Africa, including Zimbabwe. Are there ATMS in Zim?

[BrummieDave]

Not one of my regular haunts (yet).

I wasn't put off by the £200 ATM withdrawal per month limit as it's not a limit of course, just the threshold beyond which they levy a 2% charge. As the next best card I could find was FairFX which charges a flat 1.4% above Mastercard rate, the 2% above interbank for ATM withdrawals above £200 per month doesn't seem a showstopper.

I have a feeling this is all too good to be true and charges will creep in in time, or Revolut is just seeking to capture custom (a la Amazon in the early days) to subsequently promote and sell other chargeable products to later. Time will tell...and for anyone who visits several countries rather than just the Eurozone or US, it currently looks a good option. And I'm impressed with the app.

[paulnumbers]

Thanks, and without being too nosey (and feel free to ignore the question) have you used it much in Asia/Pacific Rim? One of the reasons I went for Revolut over Monzo is that as well as being contactless and chip & pin, the card has a mag stripe. Important at ATMs in some countries, particular in that region.

I used it in Thailand just fine (although you do get a local charge added for any foreign card including revolut).

I didnt mention but I also carry an N&P card, but I understand they dont offer the foreign fee free one any more. Revolut is now my 2nd backup when i'm abroad, I dont like having to worry about their limits.