LegalNerd29
Registered User
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- 4
I am currently looking into setting up an international bank account. At the moment I am currently comparing N26 and Revolut. I have a few question that I would like some clarity on.
First, what rate is the best option when converting the converted rate, i.e. Pound Sterling, back to Euros - N26's MasterCard rate or Revolut's Inter-bank rate (during the weekdays)? I recently read a comment, which was left on a a comparison site's social media account, where the individual wanted to see how much he would save should he convert the equivalent of £3,000 back into Euros. He discovered that he only saved €7.50 when opting for the N26/MasterCard options, whereas he would have saved a further €98.50, i.e. €106 in total, if he had opted for the Revolut/Inter-bank rate. While I would benefit some clarity regarding this, does it stand true that the Inter-bank rate offers the better return?
Secondly, are the foreign cash withdrawal charges applicable to eurozone countries too, i.e. the 1.7% charge on N26 withdrawals and the 2% charge on Revolut withdrawals (after the "free-cap" of €200)?
Thirdly, are they any fees incurred when using the contactless payment option for either Revolut or N26 in a non-eurozone country, or even outside Ireland for that matter?
Fourthly, do Revolut charge for replacement cards? N26 charges €10 for a replacement card. However, I am unsure if that encompasses a new card being issued upon the expiry of the current card.
Finally, are they any other international banks that you are aware of who are just as competitive, if not more?
Your advice will be much appreciated.
First, what rate is the best option when converting the converted rate, i.e. Pound Sterling, back to Euros - N26's MasterCard rate or Revolut's Inter-bank rate (during the weekdays)? I recently read a comment, which was left on a a comparison site's social media account, where the individual wanted to see how much he would save should he convert the equivalent of £3,000 back into Euros. He discovered that he only saved €7.50 when opting for the N26/MasterCard options, whereas he would have saved a further €98.50, i.e. €106 in total, if he had opted for the Revolut/Inter-bank rate. While I would benefit some clarity regarding this, does it stand true that the Inter-bank rate offers the better return?
Secondly, are the foreign cash withdrawal charges applicable to eurozone countries too, i.e. the 1.7% charge on N26 withdrawals and the 2% charge on Revolut withdrawals (after the "free-cap" of €200)?
Thirdly, are they any fees incurred when using the contactless payment option for either Revolut or N26 in a non-eurozone country, or even outside Ireland for that matter?
Fourthly, do Revolut charge for replacement cards? N26 charges €10 for a replacement card. However, I am unsure if that encompasses a new card being issued upon the expiry of the current card.
Finally, are they any other international banks that you are aware of who are just as competitive, if not more?
Your advice will be much appreciated.
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