Revolut

[bringit]

How can we check the rate for using the card oversea. Say Malaysia? Use the app convertor? Is it valid for weekend? Or just wait for Monday to confirm the real exchange rate?

There is a rates converter under the "Dashboard" tab. Rates shown on weekends already have markups applied.

 

[24thchromosome]

now the rate by youtrip after their own adjustment competitive with revolut why you need topup alipay? if for taobao you can pay in SGD using their taobao app for taobao

You are right, youtrip seemed more competitive.
taobao app can pay in sgd? Where can change in setting? Mine only show CNY even though address is in sgp.

 

[24thchromosome]

1) think if it's not written, means don't have mark up, unless is weekend.

2) have not tried yet. Good question, will like to know. You are referring to the recently released alipay for foreigner to use in China right?

OIC, thanks. Indeed, gotta be in GZ and SH next month so I thought prepare ahead first.

 

[efreelancer]

How can we check the rate for using the card oversea. Say Malaysia? Use the app convertor? Is it valid for weekend? Or just wait for Monday to confirm the real exchange rate?

Today I saw there are 2 rates in app. One is convertor rate at 3.06. another the currency pair rate is only 3. I changed at money exchange few days back is 3.05. Anyone tried in JB alr?

 

[revhappy]

Can this be used for public transport? Just add to TL SimplyGo?

Yes can be used for simplygo, after you do the 1st transaction using chip method. Remember to enable contactless payment in the revolut app settings.

 

[sellbuyboy]

There is a rates converter under the "Dashboard" tab. Rates shown on weekends already have markups applied.

Thanks. So is that the real exchange rate? Or just an indicative one?

 

[bringit]

Thanks. So is that the real exchange rate? Or just an indicative one?

Real, live rate. You will see it jumping on weekdays.

 

[sellbuyboy]

Real, live rate. You will see it jumping on weekdays.

I mean for weekend. Is the weekend rate the confirmed value?

 

[bringit]

I mean for weekend. Is the weekend rate the confirmed value?

On weekends, the market is closed. That's why the rate on weekends is fixed and not moving, with a markup applied to protect Revolut from making losses when the market opens on Monday.

Looking back on the historical rate via the watchlist, I note that the rate provided on 27th Oct Singapore time is 3.0370 for the Ringgit. I made a transaction on that day, and was charged 3.0366.

It doesn't make sense to use this card on the weekends. YouTrip is the preferred choice for me, which unfortunately, failed when I tried to make a transaction on this instance.

 

[24thchromosome]

It doesn't make sense to use this card on the weekends. YouTrip is the preferred choice for me, which unfortunately, failed when I tried to make a transaction on this instance.

Failed as in youtrip cannot be use on weekend or is it just a one time failed transaction?

 

[bringit]

Failed as in youtrip cannot be use on weekend or is it just a one time failed transaction?

TLDR: One off event, due to system outage according to YouTrip. However, YouTrip is known to have multiple technical issues in the past year.

Tried 4 times to make a transaction, but the cashier was showing me a "Do Not Honor" message on their card terminal. No choice but to use Revolut, which was successful. YouTrip card was accepted at other shops 30 mins later.

Received four push messages from YouTrip at 5am the following day saying that "Transaction was declined because the card used is suspended and no longer active. Please use the new replacement card instead.". Emailed support, which mentioned that they had some technical difficulties the previous morning, which was why the transaction was declined.

Good to have a backup card regardless of which card you're using, so that you can avoid awkward moments like these.

 

[sellbuyboy]

But revolut still better than normal cc during weekend? Right?

 

[manofsorrows]

Yes i agree. Had an outage on Saturday. Topped up money but stucked at pending. Awkward moment at the cashier. End up I had to use main credit card to settle the transaction. LL and accept whatever exhange rates plus fees the bank charges.

Swore to apply another card as standby. Applied Revolut on the very spot.

Friend had a top up pending last weekend too.

Youtrip too unreliable. But when it works its good.

TLDR: One off event, due to system outage according to YouTrip. However, YouTrip is known to have multiple technical issues in the past year.

Tried 4 times to make a transaction, but the cashier was showing me a "Do Not Honor" message on their card terminal. No choice but to use Revolut, which was successful. YouTrip card was accepted at other shops 30 mins later.

Received four push messages from YouTrip at 5am the following day saying that "Transaction was declined because the card used is suspended and no longer active. Please use the new replacement card instead.". Emailed support, which mentioned that they had some technical difficulties the previous morning, which was why the transaction was declined.

Good to have a backup card regardless of which card you're using, so that you can avoid awkward moments like these.

 

[sunnyjeremy]

Anyone withdrawn cash in Taipei recently? Any ATM which doesn't charge withdrawal fee? Get conflicting answers regarding taishin and Cathay united ATM when I googled.

 

[vegavega25]

Anyone withdrawn cash in Taipei recently? Any ATM which doesn't charge withdrawal fee? Get conflicting answers regarding taishin and Cathay united ATM when I googled.

I have not tried Revolut but only withdrawal from a CIMB StarSaver account. Mega Bank showed a fee. Bank of Taiwan didn't, or at least did not charge explicitly.

 

[Gamma~]

Has anyone used Revolut in Turkey? How is the experience and acceptance like?

 

[coloumbiaGames]

Anyone withdrawn cash in Taipei recently? Any ATM which doesn't charge withdrawal fee? Get conflicting answers regarding taishin and Cathay united ATM when I googled.

Bank of Taiwan
Chang Hwa comm

The above doesn't charge.

 

[awleong]

Quick check for Japan ATMs, are the 7-11 ATMs free for cash withdrawals? Anyone here know? Thanks.

 

[bringit]

U.K.-based fintech unicorn Revolut, which debuted in Singapore in October, will not contest for a digital banking license.

Revolut has said it is bowing out of the race to secure a digital banking license in Singapore, citing high capital requirements.

«Based on our initial analysis, it does not make sense to have a banking licence here because of the capital requirements,» said Revolut founder and CEO Nicholas Storonsky said to «The Business Times» (behind paywall) at the Singapore Fintech Festival on Tuesday.

The firm told the newspaper that it had been in talks with almost all potential digibank license applicants but the minimum paid-up capital – S$15 million at the restricted stage and S$1.5 billion within three to five years of commencement of business – was too restrictive.

Nium Exits Race

Revolut's move follows Singapore cross-border startup Nium, formerly known as InstaReM, which earlier this week said it would step out of the race for a digital wholesale banking license, preferring to focus on global business-to-business payments instead.

Source: https://www.finews.asia/finance/30176-revolut-withdraws-from-singapore-digital-banking-license-race

 

[vddgnd]

With or without digital bank license, what is the impact to us as account holder? Is it our fund in the account has no protection from Sg law or MAS?