Revolut

[hwmook]

I’m surprised that even with the 0.3% markup by YouTrip compared to Revolut on a weekday, I got SGD1 = MYR3.060 for YouTrip and SGD1 = MYR3.061 for Revolut last Friday. Is the reason because one uses the interbank rate and the other MasterCard rate?

There is no markup. Youtrip just use Mastercard rate and revolut use visa rate. Interbank rate is only for those currencies inside the revolut app, myr is not a freely traded currency so its definitely using Visa rate for revolut.

 

[banana10]

Hi guys.
I subbed and requested the premium card yesterday and the card timeline is posted on 22nd and to be delivered on 24th.
But today I checked again there is no tracking number updated yet.
So my question is:
1. How long does it take? I am flying off on 25th night and was hoping to receive the card by then.
2. Is signature required to receive the card? Or will they put inside the mailbox? I can’t change the delivery address to my office for the first card as it’s their way of confirming my home address.
3. Which courier service did they use to deliver the card for the premium plan?

 

[vegavega25]

How does one receive USD into a Revolut account from the US?

I believe Transferwise can 'pick up' funds from a US bank account using ACH. Can Revolut do the same?

Assuming that there is a way, I guess these funds can be either held as USD in Revolut for future expenses, or converted within Revolut to SGD and then transferred out to a local SG bank account. Can they also be transferred out as USD to a multi currency account in Singapore?

 

[fairylord]

There is no markup. Youtrip just use Mastercard rate and revolut use visa rate. Interbank rate is only for those currencies inside the revolut app, myr is not a freely traded currency so its definitely using Visa rate for revolut.

This is more convincing logic.

But refer to https://www.revolut.com/en-SG/help/getting-started/exchanging-currencies/what-foreign-exchange-rate-will-i-get, Revolut use the term "mark up", I'll just follow.

The 1% mark up (on visa rate) comes up during weekend on MYR. I suppose even withdrawal also charged 1% mark up on weekend (Sat 8am to Mon 8am)?

 

[ahhian]

Anyone experience this. If you buy something online and for whatever reasons the transaction got declined. The amount that you paid for will only be credited back after 5 to 7 days.

Happened to me twice already. Very frustrating as the cash is stuck somewhere and the only way to get it back is to wait

 

[ahhian]

For anyone who does regular international transfer and wants the other party to receive it fast, it might be worth getting the premium plan.

There's 3 kind of transfer:
1) Turbo transfer (receive next day but cost $9 per transfer)
2) Revolut Premium Turbo transfer (same as 1 but free)
3) Regular transfer (3 to 5 days to receive but free)

 

[fr33d0m]

Anyone experience this. If you buy something online and for whatever reasons the transaction got declined. The amount that you paid for will only be credited back after 5 to 7 days.

Happened to me twice already. Very frustrating as the cash is stuck somewhere and the only way to get it back is to wait

The only option is to wait. When the merchant does not claim the money, the money will be refunded.

 

[bringit]

Anyone experience this. If you buy something online and for whatever reasons the transaction got declined. The amount that you paid for will only be credited back after 5 to 7 days.

Happened to me twice already. Very frustrating as the cash is stuck somewhere and the only way to get it back is to wait

Try contacting support. I got it reversed in about 2 hours.

 

[arctician]

if i go japan is it ok to withdraw from airport bank atm? i assume for amt lower than $350 its at dynamic spot rate with no fees, better than changing than arcade raffles place?

 

[hwmook]

if i go japan is it ok to withdraw from airport bank atm? i assume for amt lower than $350 its at dynamic spot rate with no fees, better than changing than arcade raffles place?

Sure, why not? But some atms charge fees for withdrawal. I only tried their post office atm, charge extra 216 yen. 7-11 atms no extra charges so just take note.

 

[Reborn]

GPMC works, that is also prepaid debit.

I tried matchmove before, didn't work. Have you tried Dash since GPMC works? What about from youtrip to revolut? Youtrip doesn't accept all prepaids, even GPMC right?

 

[banana10]

Hi guys.
I subbed and requested the premium card yesterday and the card timeline is posted on 22nd and to be delivered on 24th.
But today I checked again there is no tracking number updated yet.
So my question is:
1. How long does it take? I am flying off on 25th night and was hoping to receive the card by then.
2. Is signature required to receive the card? Or will they put inside the mailbox? I can’t change the delivery address to my office for the first card as it’s their way of confirming my home address.
3. Which courier service did they use to deliver the card for the premium plan?

anyone can share regarding this?

 

[AlvinDj]

There is no markup. Youtrip just use Mastercard rate and revolut use visa rate. Interbank rate is only for those currencies inside the revolut app, myr is not a freely traded currency so its definitely using Visa rate for revolut.

So, is it safe and confirm to say that, if we do any 'point of sales' through vendor terminal with the card, do a direct sales conversion from SGD to MYR, it will be using visa rate instead of interbank rate listed in app?

Unless only when we change the funds and lock-in the rates internally via the app like USD / GBR / JPY to name a few, only then we get to enjoy the interbank rates listed in the app?

If that's really the case, then for Malaysia / Ringgit usage, using youtrip or revo wont make much of a diff... at most 0.01%+/- difference since it's just visa competing mastercard's rate..

 

[gravityz3r0]

So, is it safe and confirm to say that, if we do any 'point of sales' through vendor terminal with the card, do a direct sales conversion from SGD to MYR, it will be using visa rate instead of interbank rate listed in app?

Unless only when we change the funds and lock-in the rates internally via the app like USD / GBR / JPY to name a few, only then we get to enjoy the interbank rates listed in the app?

If that's really the case, then for Malaysia / Ringgit usage, using youtrip or revo wont make much of a diff... at most 0.01%+/- difference since it's just visa competing mastercard's rate..

You are right, but it's good if you want to withdraw cash though !

 

[fantas1a]

There're lots of assumptions here.

1) There's a distinction in in the kind of exchange rate (interbank vs visa) between Point of Sales vs App exchange vs ATM withdrawal

2) Interbank rates are only enjoyed by the major currencies, the rest of not so major currencies go through Visa

I'm not so certain about all the above, to my knowledge, because it isn't stated anywhere by Revolut that it's using Visa rate. The inference to visa rate, is probably because we are issued a visa card. Whereas it's stated explicitly by Revolut that it uses interbank rates and with little or no mention of visa/master rate. The language is obvious if we contrast it with Youtrip's.

If we read the Revolut legal terms and conditions, they use the same phrase "our Exchange Rate" for all kinds of currency exchanges, whether major minor currencies, point of sales, ATM, international transfer.... etc

It could just be marketing speak though. Interbank is marketing speak for interbank + visa.

Another reason why I tend to think only interbank rates (with or without markup) are used for all currencies and all mode of transaction, is because of their weekend mark up due to banks/markets closure.... if some transaction/currencies are using visa and others interbank rates, then there I think they will differentiate which currencies are subjected to the markup (those using interbank) and which aren't (those using visa). Because, to my understanding visa don't practice this weekend markup, at least not on the surface.

I may be wrong though.

But I think at a practical level, in the context of Revolut, interbank is better than mastercard/visa rate on most days, except maybe on weekends. And I would add, for all currencies.

So, is it safe and confirm to say that, if we do any 'point of sales' through vendor terminal with the card, do a direct sales conversion from SGD to MYR, it will be using visa rate instead of interbank rate listed in app?

Unless only when we change the funds and lock-in the rates internally via the app like USD / GBR / JPY to name a few, only then we get to enjoy the interbank rates listed in the app?

If that's really the case, then for Malaysia / Ringgit usage, using youtrip or revo wont make much of a diff... at most 0.01%+/- difference since it's just visa competing mastercard's rate..

 

[Joseph99]

can i transfer SGD from revolut account to interactive broker account . and from IB , convert USD to buy shares ?

 

[AlvinDj]

I chance upon this while I was playing around with the app after my first transaction 2 days ago..

Maybe could further shed some light..

 

[fr33d0m]

There're lots of assumptions here.

1) There's a distinction in in the kind of exchange rate (interbank vs visa) between Point of Sales vs App exchange vs ATM withdrawal

2) Interbank rates are only enjoyed by the major currencies, the rest of not so major currencies go through Visa

I'm not so certain about all the above, to my knowledge, because it isn't stated anywhere by Revolut that it's using Visa rate. The inference to visa rate, is probably because we are issued a visa card. Whereas it's stated explicitly by Revolut that it uses interbank rates and with little or no mention of visa/master rate. The language is obvious if we contrast it with Youtrip's.

If we read the Revolut legal terms and conditions, they use the same phrase "our Exchange Rate" for all kinds of currency exchanges, whether major minor currencies, point of sales, ATM, international transfer.... etc

It could just be marketing speak though. Interbank is marketing speak for interbank + visa.

Another reason why I tend to think only interbank rates (with or without markup) are used for all currencies and all mode of transaction, is because of their weekend mark up due to banks/markets closure.... if some transaction/currencies are using visa and others interbank rates, then there I think they will differentiate which currencies are subjected to the markup (those using interbank) and which aren't (those using visa). Because, to my understanding visa don't practice this weekend markup, at least not on the surface.

I may be wrong though.

But I think at a practical level, in the context of Revolut, interbank is better than mastercard/visa rate on most days, except maybe on weekends. And I would add, for all currencies.

Or you can think Revolut provides you a DCC rate which is much more competitive than you normally receive from other merchants.

 

[iduncheckmail]

I tried matchmove before, didn't work. Have you tried Dash since GPMC works? What about from youtrip to revolut? Youtrip doesn't accept all prepaids, even GPMC right?

GPMC works for me, so I need not try dash or YouTrip.

 

[Urbanchap]

Just got my Revolut card.
For 1st transaction, suppose to use pin. But when i flash card at reader, it doesn't prompt for PIN and transaction failed. Issit have to slot card into reader for PIN prompt?