Monzo vs Revolut abroad

Having been an avid Revolut user who used it solely when abroad I thought I would spend solely from Monzo this time and what a joy it’s been. Being able to pay (using Apple Pay) directly from a pot was so much better for me and not once did I have an issue. Yes, you can buy currency with Revolut but do the majority of us need to, no. Goodbye Revolut as Monzo, pots and Apple Pay have me covered now, especially with a premium account and the features that offers. Love this bank!!!

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You don’t need to as revolut generally has lower conversion rates from gbp than others, except weekends having a % markup which doesn’t make a huge difference unless you’re paying out thousands.

Agree on the pay from pots though, wish could do that with revolut via pockets.

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For cash withdrawals in the Eurozone the answer to this is more than likely to be yes going forwards - even Revolut might not be able to prevent ATM charges with a uk BIN. Fineco, Cynergy or Bankera might be the better options for cash in the Eurozone soon.

It’s funny how Revolut get slated for this 1% uplift - other providers just use the Mastercard etc rate and you’ll end up paying a worse weekend exchange rate anyway, whilst no one checks the rate as soon as it becomes a fee people get irate…

Important for large purchases to convert in advance at a preferential rate - Revolut are the best for this under 1k. Fineco rates for EUR are worse but fee free (this is a different/higher fee to the weekend one with Revolut and will actually make it non cost effective) on a much higher limit.

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Agreed, still works out better that other rates :sweat_smile: I’ve no issue with it tbh.

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It’s worse than the MasterCard rate right now as a spot check when compare to euro and that’s without the fee.

I think people think rev is just all that better when I find it’s not a lot of the time or marginal but also has a fee at weekends making it worse.

It’s hardly old legacy bank terrible though.


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I have little need to use it now. Monzo and Apple Pay where I can pay from pots is good enough for me.

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Is this a free feature?

Better than Lloyds.

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Needs monzo plus virtual cards linked to a pot.

Not better than monzo though. I would hope it’s better than legacy banks but Rev doesn’t have much of a great rate vs MasterCard when ever I check AND it has an extra charge on top that applies to every purchase and cash at the weekend.

I know when they started they were better but now Rev rates are now special over fintechs so I don’t think they deserve this status of being the best rates, such good rates that it offsets the weekend charge as well as it’s not really very true.

Having the cash in the currency is nice and it’s better than travel cards at least but I usually only get a little cash and use card abroad all the time.

Where is the monzo rate? The transfer rate showed a fee

Got it.

? Monzo is the MasterCard rate, no fee.

The fee as shown in the Rev shot of £10 as it was a £1000 example but that didn’t affect the £1 = € rate which was poorer with rev as well as the fee.

The MasterCard rate would give me over an extra €5 and then on top Rev would take £10 as well.

I’m guessing the rate for revolut there includes the markup as it’s the weekend, so possibly different Tuesday.

I could be wrong though.

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Could be, either way it’s a poorer rate and even if it includes the fee in the exchange rate it shows that it’s poorer to use rev at weekends abroad due to the fee. If it isn’t factoring the £10 fee then it’s really bad.
I just don’t think it deserves this rep of being so good when it has bollocks like weekend fees and rates that may or may not be better than MasterCard and as shown now worse rates it better.

You have rev so try it in app, try sending £100 or exchanging and see what it says it will take out of your account.

Sometimes visa has a better rate than MasterCard and no doubt sometimes it will be Rev but the fee and hassle makes it poorer.
Use rev but on weekends move the money to another fintech to get a better rate then move it back on Monday or just get a great rate without the hassle and charges on a normal fintech I guess.

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If you’re getting cash from EU ATMs, the rate is becoming increasingly irrelevant. In the Czech Republic, they were charging just under £7 per withdrawal for a UK issued card (which includes Revolut for us) Vs nothing for Fineco and Bankera (Italian and Lithuanian issued cards).

I find being able to convert to Euros etc throughout the year useful as it takes out the risk of getting hit with a bad exchange rate if the pound falls over my holidays.

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I mean Brexit so there is that…
Likewise the rate might get poorer but it might get better so it’s splitting hairs

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It’s not splitting hairs if you’re paying for your holiday in Euros. If, say, the rate changes from 1.20 to 1.10 then on a £2000 holiday you could be looking at needing an extra £200. Buying the Euros monthly averages out the exchange rate so reduces the risk.

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What ever floats your boat I guess.

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