Looks like Mastercard currency converter tool:
https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html
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If that is the case, I have to disagree. I would like to see screenshots of weekday overseas transactions when they are actually settled. I have compared Revolut on many occasions for weekday foreign transactions and they always provide slightly better rate.
Does it mean I would always use Revolut for foreign transactions to save pennies? No, as I have no trust in their ability to resolve any problems that might arise in those situations.
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As @Jackcrwhitney said, this is Mastercardās interbank rate that Monzo uses for their debit card transactions in different currencies.
Also no extra fees on weekend!
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Unfortunately, MasterCard rate is not interbank rate. The rate provided by MasterCard today is only indicative. The real rate is settled by MasterCard days later and from my experience is always worse that interbank rate used by Revolut, at least for major currencies. I will not dispute exotic currency pairs.
As for weekend, Revolut is just doing what they love doing which is avoiding transparency. They slap weekend fee on you and incorporate it into displayed exchange rate hoping nobody will noticeā¦I never use their card on weekend unless I have an option to convert to supported currency on weekday to avoid fees.
The rate can fluctuate in either direction before the transaction settles so unfortunately, you canāt compare them based on that by using a snapshot.
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Assuming that Monzoās (and they said on multiple occasions that their rate [when settling] equates to the Mastercardās) rate beats Revolutās 24/365, you can make an educated guess that whenever settling happens, it will also be better than Revolutās.
The only reason why you could have a better rate with Revolut is if they settled the transaction slightly before or after Monzo where the rates were more favourable. But if both banks settled their transactions simultaneously, Revoult would have never beaten Monzo.
Revolut settles their weekdays rates instantly. I am not here to defend Revolut or their rates but quote my observations which are confirmed by many online publications, including MSE:
Ultimately, everyone chooses payment method they trust. Would I trust Revolut with large payment only to save a couple of pounds? Hell no. Would I trust them to transfer large sum via SWIFT. No way.
But I compared rates for the same transactions, in the same outlets, carried out with Revolutās interbank rate and MasterCard or Visa rate and base my opinions on those results. Thatās all I have to say on this topic. Choose what you trust.
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Yeah thatās probably why youāve had a better rate from Revolut. Monzo only gives an estimate based on the current rate, but update it once it settles (as do most banks with no specialised offerings).
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Done that, they did well.
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These rates arenāt comparable. The rate you show for MasterCard is the rate for buying GBP (I make a Ā£1000 purchase, how many euros do I need to sell to cover it?), whilst the Revolut rate is for selling GBP. All the screenshots show is that there is a spread, not which rate is better
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I also , but before I heard all the horror stories, Iām lucky it didnāt flag and have to provide proof of funding etc.
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Hi - I am first time poster on Monzo. Trialled Revolut four months ago because because high street banks so wary about international transactions. I use TorFX for larger payments - they have been great - I saw Revolut as a way of avoiding the high forex and other charges on bank card. Unfortunately I was unable to activate cards because Revolut seemed unable to accept transfers from my bank - I see lots of people experience their systems not yet reliable. Being a small business owner I got very busy (never turn down work) and only return to retrial of Revolut after four months - discovered they are charging me Ā£25 per month for an inactive account. I asked how to cancel as unclear from control panel and was told I am contracted for a year and must pay Ā£300 to exit??? This seems to very wrong and certainly do not recall accepting such terms. At present customer support taking an hour to reply to online help - so I have to stretch this over days (I cannot afford to wait for such long roundtrip conversations). Am waiting on reply now - 30 mins on clock already. Any helpful advice appreciated.
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The only advice I can give you is posting on their forum and tagging @rafael_revolut. They have got slightly more reponsive to complaints about their business accounts in recent weeks so you might actually get prompt reply. If you start DMing with them, the charges might be waived, keeping it hidden from other forum users and the topic will be closed a few days later by stating that the issue was resolved.
Otherwise, you will need to chase them on FB and Twitter which is absolutely ridiculous, to say the least.
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Thank you. Still not reply from my query though client support chat - well over an hour.
I would not expect a reply from Revolutās in-app chat within reasonable time frame. The irony of their CS is that is faster to get reply from them by using FB or Twitter. 
Their community forum is like cementary peppered with tombstones of those who waited, waited, waited, waitedā¦
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Some interesting numbers in these articlesā¦
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Very much so,
Interesting to see the active user numbers, I wonder what they class as an active user? Someone who makes a purchase or opens the app ? 
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An active Revolut user is most likely not very active in the same sense as Monzo or Starling active users are. Why would they be as at least in the UK where half of their user base is, they donāt even provide direct debits for their GBP accounts or hold banking licence which might dscourage some risk averse clients.
What is unique about Revolut is that they broke even back in the February this year which sets them apart from other fintech start-up. I am not gonna lie, this fact alone is quite impressive. Judging from the hype surrounding Revolut in the eastern part of the EU, especially in those eastern member states which havenāt adopted EUR as a currency and are virtually fintech deserts, Revolut has a long way to go there.
It is worth mentioning that customers in many eastern EU states have slightly different perception of customer service offered by banks and as a result Revolutās poor CS standards might not be an immedite turn off for many users. Where else could they go in all honesty? TransferWise Borderless is literally the only option but due to their charges, less competitive than Revolut.
It will also be very interesting to watch how Revolut progresses as they will be soon expanding to USA, Singapore, Hong Kong, Australia, New Zealand, South Africa and God knows where elseā¦ oh, The Independent also mentions India, Brazil and UAE!
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Isnāt N26 popular too? I see it mentioned on and off on this forum and it seems pretty well liked. Monzo mentioned in their long term plan about expanding to Asia via Singapore, but if Revolut get in there first it would be honestly great for me. Might even change my mind about using it despite the bad CS.
I digress but this is so exciting- the banks there are due for a major shakeup because it is so damn inconvenient to pay with the exception of DBS Paylah (basically payment via QR code, mobile number or IC number) because normally you need a bank token to transfer money (and log in 
).
Theyāve been looking to Chinaās payment methods but if Europe fintech banks get there first I think it would pick up really quick. Singaporeans travel quite a lot so that would be a major draw too. Donāt think I know anyone who doesnāt own a passport
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I Revolut has already opened office in Singapore and they have been hiring staff for Singaporean operations for some time.
https://www.revolut.com/careers/location/singapore#regulatory-compliance-officer-singaporesingapore
N26 is only available in Eurozone countries and there are still several non-euro states in Eastern Europe, some of them with large populations.
True about Singaporeans without passports. Not travelling from Singapore is almost like living all your life in one city! I went to Singapore two months ago for the first time and loved open air food courts at night. I canāt remember their names but choice of food and atmosphere were something to die for.
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