Revolut

[fone]

You can withdraw unspent balance to your bank account, get multiple physical card to share with family, have granular security control (disable contactless/swipe/online payment/cash withdrawal) and have live chat with their CSO just to name a few.

Multiple cards to share, only useful at places where they do not check your card name vs your ID name. IIRC, all in account holder name?

Live chat is a hit and miss. If you can get the first CSO to resolve issue immediately, then ok. Otherwise, now is like 3 weeks+ of waiting for CSO.

 

[Elon Jobs]

With the prevalence of ApplePay and GooglePay, I honestly cannot remember when was the last time I was asked to verify the name on my card which is saved in my phone, especially given the current Covid19 situation where contact minimisation is recommended.

Multiple cards to share, only useful at places where they do not check your card name vs your ID name. IIRC, all in account holder name?

Live chat is a hit and miss. If you can get the first CSO to resolve issue immediately, then ok. Otherwise, now is like 3 weeks+ of waiting for CSO.

 

[fone]

With the prevalence of ApplePay and GooglePay, I honestly cannot remember when was the last time I was asked to verify the name on my card which is saved in my phone, especially given the current Covid19 situation where contact minimisation is recommended.

Not in Singapore, that is. You get Revolut to spend in SG?

 

[fone]

Just did transfer to local account yesterday, today got fast transfer in today already. Different incoming "name" as last time. If payment now arrive in SG in 1 day, like if I transfer to US, this is would be fantastic. Rather than the previous 5 to 8 days.

Previously, my transfers all arrive Thursday/Friday too, may be that case.

 

[nekoarc]

Just did transfer to local account yesterday, today got fast transfer in today already. Different incoming "name" as last time. If payment now arrive in SG in 1 day, like if I transfer to US, this is would be fantastic. Rather than the previous 5 to 8 days.

Previously, my transfers all arrive Thursday/Friday too, may be that case.

I transfer to US account every month. Usually cash is in the next day. Bank is Discover

 

[sacredrays]

when transfer to bank account, will write your name or anything in the entry of your recipient account?

 

[fone]

when transfer to bank account, will write your name or anything in the entry of your recipient account?

Last time no, now it writes the person who transferred the money.

 

[assiak71]

Just did transfer to local account yesterday, today got fast transfer in today already. Different incoming "name" as last time. If payment now arrive in SG in 1 day, like if I transfer to US, this is would be fantastic. Rather than the previous 5 to 8 days.

Previously, my transfers all arrive Thursday/Friday too, may be that case.

Transfer to own or others' local account?

 

[fone]

How would I know, if it is other's account?

 

[assiak71]

Recent transfers to local acc (be it own or others) no longer get flagged by revolut? Thought some people say acc got locked

 

[fone]

Recent transfers to local acc (be it own or others) no longer get flagged by revolut? Thought some people say acc got locked

Not sure, I'm doing a mixture of local and overseas transfers.

 

[assiak71]

For the monthly limit, does it follow calendar month?

 

[coloumbiaGames]

For the monthly limit, does it follow calendar month?

Rolling month.
Can check from account details.

 

[assiak71]

Rolling month.
Can check from account details.

Saw it under Price plan thanks

 

[nexusRAGER]

anyone get this error before?

trying to withdraw money to my dbs account, it keep says that my bank account number is incomplete or invalid

anyone know a fix for this?

Thanks in advance

 

[assiak71]

Revolut gonna comply with MAS

Does topping up constitute to the 30k?

 

[fone]

Revolut gonna comply with MAS

Does topping up constitute to the 30k?

I see no mention of the $30k in the notification.

 

[Tiger9119]

Email from Revolut:

We have an important update for you. We are introducing new limits on your Revolut account. This means that if you are based in Singapore, you will be able to hold up to S$5,000 (or equivalent in other currencies) at the end of the day Singapore time. These limits will vary depending on whether or not you have set up your External Account with us.



Why is there a cap on the account?
Revolut is regulated by the Monetary Authority of Singapore and under the new Payment Services Act, there’s a limit to how much you can hold and spend with local e-wallets.


What is an External Account?
An External Account is a personal deposit account held with a bank in Singapore. We will notify you when you can set up your External Account in your Revolut App.


With an External Account, you’ll be able to:

Top up or receive more than S$5,000 in your Revolut account throughout the day
Automatically transfer any balance in excess of S$5,000 to your External Account every night

Is there a spending limit?
As required by regulations, your transaction limit will be S$30,000 per year. This annual limit is calculated on a 12-month rolling basis.

Transactions that are not part of the S$30,000 limit:

Transfers to your External Account
Local and international transfers to a your personal account
Local transfers to another person’s personal account
What if I have not set up an External Account?
You can hold up to S$4,800 or foreign currency equivalent in your Revolut account
If you hold more than S$4,800 or foreign currency equivalent, you will not be able to top-up or receive money until your balance is reduced or you set up an External Account

 

[assiak71]

Sounds like no limit to topping up?

 

[Trazora]

Sounds like no limit to topping up?

Indirectly limited by how much it can hold