Revolut

[revhappy]

Yah but payment terms for CC is usually 30 days, so how much bank interest can you earn in 30 days?

Technically, you can do revolving credit, lets say credit limit is 30k, you take cash advance of 30k and then keeping paying it off every 30 days and then taking a new one again, so you can perpetually earn interest on 30k.

 

[revhappy]

How does one add money to a Revolut card? Is transferring funds from a SG bank account to Revolut considered funds transfer to a foreign bank account?

You can do it using credit card. I did it using spree card, no fees.

 

[kjtdkjtd]

I don't think they support ATM withdrawals at the moment? Not sure when that will be coming to SG

You have to top up $20 first into the account, and then you can request for the standard card to be send to you for free.

You need the physical card for ATM withdrawals, they won't even give you a virtual card until you have done in-store purchase using the physical card.

 

[nekoarc]

I don't think they support ATM withdrawals at the moment? Not sure when that will be coming to SG

Tried on a bunch of local ATMs, both current and savings account withdrawal with the card will just show 'error'. Ended up just buying sweets from NTUC. Remember to enable contactless in the app before purchasing.

 

[fantas1a]

This is a Singapore issued card. Just key in the bin code(the first 6 digits) of the card, into any bin code checker that can be found online. It shows a Singapore issued card. My revolut bin code is 453 256

My only question is, whether this will be considered a Singapore issued card or not. It matters for simplygo, since simplygi has admin fees for foreign issued cards.

 

[blurpandasg2014]

How's the exchange rate as compared to youtrip

 

[assiak71]

Is the main difference between youtrip and revolut being revolut can withdraw the money?

 

[fr33d0m]

Is the main difference between youtrip and revolut being revolut can withdraw the money?

Youtrip can withdraw, but not in SG.

Not sure about Revolut.

But Revolut can do bank transfer, too. Not sure how expensive it is.

 

[fantas1a]

Is the main difference between youtrip and revolut being revolut can withdraw the money?

Revolut is a lot more advanced in its product offerings. It can do everything youtrip does, but better.

A few key differences

1) Analytics to monitor spending

2) Offer cross border intentional transfer

3) Make recurring payments and request payments

4) Both Revolut and Youtrip both can withdraw money overseas. But Revolut is free.

5) The overall customer experience is a lot more polished with Revolut. Youtrip feels basic and was unreliable for quite few months, but reliability has since improved.

6) Also Revolut has use once and dispose virtual cards, different tiers of card with cash back.


The way I look at it, youtrip is just a basic no frills card which main target is overseas travellers. Its app is also no frills. I think if youtrip doesn't beefed up its attractiveness, think it'll be overtaken soon.

It's like going to heartland masssage parlour vs going to a full fledged spa.

 

[nekoarc]

Is the main difference between youtrip and revolut being revolut can withdraw the money?

How's the exchange rate as compared to youtrip

Revolut is a UK unicorn (valued at over $1 billion) company that is popular with travellers in Europe.

YouTrip is a local company that uses EZ-Link and Fevo as part of their backend infrastructure.

The past few times I checked (once a day for 3 days), Revolut had a better exchange rate than Youtrip for all currencies that both support.

E.g. right now for S$1
Revolut YouTrip
US$0.7251 US$0.7229
EUR0.6565 EUR0.6548
A$1.0692 A$1.065

But don't forget that Revolut charges % fees for exchange beyond 'market hours' and if you change 'high frequency' whatever that means. https://www.revolut.com/legal/fees/#exchange

I just ordered the Transferwise debit card, and await the AirAsia debit card more competition will hopefully bring back the early days of Deliveroo/UberEats/Honestbee/Food Panda or Uber/Grab fighting for market share.

 

[confused]

Tried on a bunch of local ATMs, both current and savings account withdrawal with the card will just show 'error'. Ended up just buying sweets from NTUC. Remember to enable contactless in the app before purchasing.

Have you tried withdrawing from the ATM using the VISA/Mastercard option? It will invite fees I suppose.

 

[confused]

Technically, you can do revolving credit, lets say credit limit is 30k, you take cash advance of 30k and then keeping paying it off every 30 days and then taking a new one again, so you can perpetually earn interest on 30k.

Have you tried to withdraw funds to your local bank account? I am curious to know if there are any fees and also how long it will take.

 

[boiboi123]

I referred friends and am #1 now but I still get a message saying let me know when I’m at the top? I can’t create an account yet, why is that?

 

[nekoarc]

I referred friends and am #1 now but I still get a message saying let me know when I’m at the top? I can’t create an account yet, why is that?

I speculate that account creation is done during their working hours (UK company), and that someone actually needs to run the script to activate X number of accounts, since they'd probably want to limit the number of people in Beta to test water first.

 

[x_men_naruto96]

Tried on a bunch of local ATMs, both current and savings account withdrawal with the card will just show 'error'. Ended up just buying sweets from NTUC. Remember to enable contactless in the app before purchasing.

Looks like cannot withdraw locally as per their tnc. https://www.revolut.com/en-SG/legal/fees

ATM Withdrawals
Withdrawals at international ATMs (ATMs outside of Singapore) at up to S$350 are free. ATM withdrawals are not permitted in Singapore. Anything over the above limits is charged at 2% of value of ATM Withdrawal.

 

[jagr]

whats the max amount top up you guys have tried? i'm limited at 600 for now

 

[hq83]

whats the max amount top up you guys have tried? i'm limited at 600 for now

$400 max for me..

 

[ohmyglob]

Received the invitation. Ordered a physical card, but there is no way to enter preferred name on card?

Is name printed on card? The image in the app doesn’t have any name

 

[linuskltan]

Received the invitation. Ordered a physical card, but there is no way to enter preferred name on card?

Is name printed on card? The image in the app doesn’t have any name

Yes the name printed is your Full Name as per your account details. I had to request the in-app help to change my account name to my Preferred Name and they cancelled my ordered (but not shipped) card and had the card re-ordered in order to ensure my Preferred Name is the one that printed.

 

[fairylord]

Looks like cannot withdraw locally as per their tnc. https://www.revolut.com/en-SG/legal/fees

ATM Withdrawals
Withdrawals at international ATMs (ATMs outside of Singapore) at up to S$350 are free. ATM withdrawals are not permitted in Singapore. Anything over the above limits is charged at 2% of value of ATM Withdrawal.

So if I were to withdraw USD at USA during weekend (ie outside forex market hours) will be charged 0.5% as well?