Only if you top up by debit card, SEPA transfers are free. Hence I was wondering if SEPA transfers are instant. Otherwise you would need to leave money in the account but that might be a bit risky given the lack of deposit insurance.And charges if you top up more than €100?
Cashback is 3% on EU/EEA purchases in EUR both online and in-stores. Max 120 EUR per month.
High top up fees over 100 EUR per month.
OK but once customers have signed up what's the business model then? Even if they reduce cashback to 1% they will pay out 0.8% on every transaction since what they can charge retailers is capped EU-wide at 0.2%.I would guess that their business model is to use the cashback as a way to entice new customers to sign up
OK but once customers have signed up what's the business model then? Even if they reduce cashback to 1% they will pay out 0.8% on every transaction since what they can charge retailers is capped EU-wide at 0.2%.
Not a great start. Registered a couple of days ago, then was notified that my application has gone to "manual review" which would "need some clarification." A few days later I messaged their "Conscierge" to ask what clarification they need. After a few hours (not minutes as promised in the app) "Conscierge" replied that they would clarify and get back to me, but no clarification on the needed clarification so far. Catchy app design though!But give it a shot and let us know how you get on.
Did they ask you to upload a bank statement or utility bill as proof of address? They just got back to me asking for that.i signed up for this last night, was setup and verifiied in minutes, done a SEPA transfer to the account for €6 to pay the postage for the card.
i signed up for this last night, was setup and verifiied in minutes, done a SEPA transfer to the account for €6 to pay the postage for the card.
I'm guessing it's probably only worth doing with my discretionary spending due to the lack of deposit protection. Does it cost anything to withdraw money out of a W1TTY account?@PoundMan - Clever!! Interesting move to top up your Revolut account via your AIB credit card and then get 0.5% cashback. If that works, and then if you do a free bank transfer, you will then get a further 3% cashback on your expenditure provided it is EUR expenditure inside the EU and below the threshold.
I'm guessing it's probably only worth doing with my discretionary spending due to the lack of deposit protection. Does it cost anything to withdraw money out of a W1TTY account?