Paying large sum via Revolut Card

S

Sweet Pea

Registered User
Messages
145
Hi

We're collecting and paying for a new car on Saturday. I have the money for the purchase in my Revolut account which I use infrequently. The loan funds were lodged to my BofI account and I transferred them to Revolut to avoid spending them!

I was going to pay for the car with my Revolut card (approx €30K) but my OH is freaking out in case it doesn't work. He doesn't understand the concept that you get a debit card with Revolut and present it to a retailer just as you would a Bank of Ireland debit card. He's afraid the card won't work.

I contacted Revolut via their chat earlier and informed them of this large purchase. They said 'With Revolut, you can make card payments of up to €30,000 per day so you should be able to pay the car dealer without any issues. However, please note that some merchants may have their own limits for card payments. I would recommend checking with the car dealer about their card payment limits to ensure a smooth transaction'.

So just enquiring has anyone had any issues before paying large sums via Revolut card?

Thanks
 
DannyBoyD said:
Why do you want to use Revolut? Whats wrong with bank transfer?
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Does bank transfer not take one business day? The funds are in my Revolut account. If I transfer them to my BoI account, they mightn't arrive by tomorrow and then they're 'in limbo' on Saturday when I need to pay..
 
You really should check with the dealer, they might not like that you want to pay 30K via a debit card, it's going to cost them a lot of money to accept that.

But in principle unless you have defined a spending limit for the card in the App and the AI has no problem with the vendor charging that much than you should be good BUT if for example the merchant acquirer decides the transaction is too risky and declines the transaction than you are going to have a problem because it might block the funds.

This kind of money via a card payment is always risky.
 
DannyBoyD said:
That would 100% worry me.

I wouldn't keep more than a few hundred in Revolut.

I'm struggling to see any good reason not to do bank transfer for such a large amount.
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Fully agree with Danny. Revolut will probably stop the transaction and you will have no idea why.

See if you can get it back into your bank account.

You do a bank transfer from a mainstream bank and when it goes through, you collect the car.

Brendan
 
If it’s a dealer pay by EFT. You can do this from your Revolut account and it will be no slower than using any other bank.

This will save the dealer their merchant fee on a card sale. 1% of a very big number is still a big saving for them.

If you are cheeky you could ask the dealer for a discount on this basis.
 
Thanks - do I just do a new payment from Revolut to a bank recipient?
 
OK - I've transferred from Revolut to Bank of Ireland. It's saying it'll arrive by tomorrow. I'll to an EFT tomorrow to the car dealer with the hope it'll hit their account by Saturday
 
@Sweet Pea - BOI have daily transfer limits imposed from their accounts (think it's €20K for current accounts). Also, if you are setting up a new payee from the account, i.e. to pay the garage, the limit is €1000 to that payee, for the first 24 hours.
 
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