After saving for this trip for two long years I was determined to find a cash card that wouldn’t rob me of my hard earned cash in the form of ATM fees. In the same position? Look no further…
In Revolut’s own words:
“Revolut is working to build a fair and frictionless platform to use and manage money around the world. Revolut brings freedom to your money with our multi-currency card and mobile app. With Revolut you can now send, spend and exchange money with intuitive ease and no hidden fees.
Using the Revolut App you can set up an account in 30 seconds, enabling you to instantly transfer money globally through SMS, WhatsApp and social media using the best possible exchange rates, the spot interbank rates.
Once you’ve topped up your Revolut account you can use your Revolut MasterCard® at millions of locations worldwide whilst paying no fees on transactions or cash withdrawals. The card automatically converts into the local currency at the perfect interbank rate so you don’t have to worry about it.”
Sound too good to be true? That’s what I thought at first… I found out about Revolut when I was searching on MoneySavingExpert for cash cards. The Revolut card ranks as one of their ‘Top Picks’.
Still not convinced I did some more research, checked out their website and read reviews from people who have already used the card. Feeling reassured I downloaded the app and ordered my card (which may I add arrived in less than 5 days). I verified my account (you need to do this if you want to load over £1000) and was good to go.
Some of you may still not be convinced so you should definitely head over to their website and check out the FAQ page – there will literally be an answer to every question you have. (My instant questions were ‘What if the card gets lost/stolen?’ ‘What currencies are supported’ and ‘How does it work?!?!?’ They really do have answer for everything so head over there NOW!)
Here are some Stats and Key Questions about Revolut (Provided by MoneySavingExpert):
- Application fee: None | Monthly fee: None
- Exchange rate: perfect interbank rate
- ATM withdrawal fee: None
- Loadable currencies: Pounds/euros/dollars | Spendable currencies: euros, dollars & 84 others
- Top up: Free via bank transfer or debit card
- Replacement charge: Yes. The amount depends on where you live
- Fee for spending in different currency (eg, in dollars on a card loaded with euros): N/A (all exchanges are done at the interbank rate)
- Any freebies? £5 of currency added when you load £10+
- How good is Revolut’s exchange rate? Revolut’s exchange rate is the best you can get, as it uses interbank rates, which tend to be slightly higher than Mastercard’s or Visa’s rates. However, note that Revolut reserves the right to begin charging a 1% exchange fee (or a small, fixed fee) after a year.
- What am I charged for cash withdrawals? Nothing. You pay no fees anywhere in the world (unless the machine itself charges a fee)
Thank me later xo