Revolut - another low fee FX provider launches in Australia

[DeKa]

Revolut, another low cost FX provider has launched in beta in Australia.

This one is a bit different to TransferWise in that they seem to want to become your transactional bank account.

One thing that’s different - for $20 a month or $200 a year you get a metal Debit Card - much cheaper than the Qantas Titanium or other “metal” cards!

Use my referral link to sign up and you can expect:

See where your money is going See how much you are spending each month on things like restaurants, groceries and transport in real time. Set up monthly budgets Set up monthly spending budgets for things like groceries and restaurants, and we’ll help you stay on track. Round up your payments and save With Vaults, you can round up your card payments to the nearest dollar and put away your spare change. Send and request money from friends Send and request money from your friends and family instantly and for free. You can even send them GIFs and Emojis to spice things up. Spend and transfer money globally Spend and transfer money globally with the real exchange rate, without hidden fees.​

 

[Robert K]

not sure $20 a month is worth it for a plain metal card, with what is a rather Web 2.0 logo.

 

[moa999]

And the standard account only lets you withdraw $350/month before they start charging 2%.

And $11/month gets you $700 limit.

Retail Compare Plans AU | Revolut Australia

Compare Revolut plans: Standard, Plus, Premium, and Metal

www.revolut.com

Other options better for travel imho

 

[AisleSeat]

not sure $20 a month is worth it for a plain metal card, with what is a rather Web 2.0 logo.

Literally web 2.0 (from Top 10 Remarkable web 2.0 Logo Designs Tutorial)

 

[penegal]

For those wondering, I have a referral for revolut.

PM for the link

 

[daft009]

anyone tried loading funds with a CC?
cash advance?
amex possible?

 

[wxxnxs]

I even can't get my account opened, got a email says I'm on the waiting list, and there are 2031 people ahead of me.

 

[DeKa]

I’ve tried Revolut once but it’s not worth it.
TransferWise is as cheap, the Mastercard works well, and the virtual bank accounts they offer are very useful.

 

[blacksultan]

I’ve tried Revolut once but it’s not worth it.
TransferWise is as cheap, the Mastercard works well, and the virtual bank accounts they offer are very useful.

Do you know if the US virtual account can be used to pay a US amex card? Is it a regular US checking account?

 

[blacksultan]

Here is my referral link for revolut :Better than your bank account

 

[coolstepslg]

I am a customer and can vouch for them. It was easy to open account for us using Australian mobile phone and topping up $10 with google pay using ING card. wife used her Australian passport and uk visa i just used my EU id card but had to put down a EU address both got 10 pounds and i got 10 euro refer credits and free basic cards but not sure if they still are doing that. I think they stopped issuing cards to Australian addresses so best put down a EU address. they have a free local rewards programs too now. i would like to throw in my referral link too . Managing your money would be so much easier if you had Revolut. Sign up with my link click here .

 

[PPS_SYD]

anyone tried loading funds with a CC?
cash advance?
amex possible?

Seems like this was never answered. Would love to know if anyone has the answer.

 

[yojohnny]

Seems like this was never answered. Would love to know if anyone has the answer.

I just tried and didn't get charged a cash advance fee.

 

[blacksultan]

I just tried and didn't get charged a cash advance fee.

Which bank ?

 

[coolstepslg]

yes Which bank ?

anyone tried loading funds with a CC? no ive only tried debit card so far.
cash advance? no
amex possible? no

 

[blacksultan]

yes Which bank ?

anyone tried loading funds with a CC? no ive only tried debit card so far.
cash advance? no
amex possible? no

Try vi / Mc thru Apple wallet .

 

[Spazmos]

Seems like this was never answered. Would love to know if anyone has the answer.

tried it with my commbank cc, anz cc, and bank of melb cc all with about $5k each back in september, wasn't charged a cash advance fee.... tried my commbank cc again just recently and was charged as a cash advance.... go figure

 

[blacksultan]

tried it with my commbank cc, anz cc, and bank of melb cc all with about $5k each back in september, wasn't charged a cash advance fee.... tried my commbank cc again just recently and was charged as a cash advance.... go figure

Westpac has also now recently changed to process it as a cash advance through Apple Pay

 

[vetrade]

FWIW, I haven't been charged any cash advance fees using my NAB VISA CC when transferring to Revolut and the money appears in my account instantaneously.
Easy to deposit $AUD in your Revolut account where you can convert ("exchange") it to $USD, Euro or virtually any currency you want at very good exchange rates.
I particularly like using Revolut's single use disposable virtual Visa cards which eliminates the security risk of a standard CC being compromised.
I can exchange $AUD for $USD and transfer funds to my Skrill account with total costs of 2.5% whereas there used to be a cash advance fee for the CC transaction plus 3.99% Skrill charged.

 

[Spazmos]

Just been flagged to "Verify Source of Income"... anyone else had this? I've read a few other DPs where they have had their accounts frozen whilst going through the verification process. So I immediately transferred out all available funds as to not have it locked in.