Revolut increased foreign exchange markup

[tomdublin]

Revolut is increasing its foreign currency markup from 0.5% to 1% once users go over 1000 euro per month. This announcement is strategically buried in today's "update to t&cs" email underneath a lot of pointless drivel about updated app design. For those travelling a lot outside the eurozone this is potentially quite significant as Revolut is now only marginally more competitive than other providers. I fear the 1000 euro monthly allowance will soon disappear too.

 

[Slim]

I got the email today. Currency exchange is the 2nd item, large heading, not buried at all:

Currency exchange fees​

For Standard customers, currency exchange fees will remain the same up to a fair usage limit of €1,000 per month. For exchanges above this limit, our fees are increasing from 0.5% to 1%. Weekend rates aren't impacted by this change.

 

[NoRegretsCoyote]

For exchanges above this limit, our fees are increasing from 0.5% to 1%.

I don't think it's unreasonable given that there's no monthly fee for customers on the Standard contract.

I converted about €2,500 recently and avoided fees by doing it gradually over three months.

 

[Slim]

I don't think it's unreasonable given that there's no monthly fee for customers on the Standard contract.

I converted about €2,500 recently and avoided fees by doing it gradually over three months.

Yes, I've done the same this year, avoiding weekends too.

 

[tomdublin]

2nd item, large heading, not buried at all:

OK, it's underneath the first item

 

[tallpaul]

It's not remotely buried in the email!! And anyway I think it is fair enough. Once again there is pearl clutching when a financial institution tries to make money!

 

[Gordon Gekko]

If you travel a lot outside of Europe then maybe consider Revolut Metal?

1% cashback outside of Europe and 0.1% in Europe.

And no FX cap.

 

[NoRegretsCoyote]

I just got an email from them telling me their crypto trading fees were falling though