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Understanding the Table:
The comparison table above helps you see the total cost of your Revolut currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
Standard (free) account holders can convert funds within the Revolut account, send money overseas and spend via the international debit card at the interbank exchange rate with no fees, subject to a transfer limit of £5,000 per month (that’s 5,000 British pounds or equivalent).
The ability to exchange funds at the interbank rate (the rate at which financial institutions swap currencies with one another) allows for massive savings over money transfers handled by banks. In the majority of cases, users save between 2% and 4% of the transacted amount by exchanging money at the interbank rate.
The exceptions to the no-fee rule are transfers into Thai baht, Russian rubles and Ukrainian hryvnia, for which Revolut charges 1% of the transacted amount.
Weekend transactions are subject to either a 0.5% or 1% charge depending on the liquidity of the currencies in question. For the baht, ruble and hryvnia, the weekend charge will be in addition to the aforementioned charge, for a total of 2.0%.
Revolut transfers might be subject to wire fees where the receiving bank is outside the EU and where sent funds are not in euros, because these transfers are sent via SWIFT. Beneficiary banks might also charge fees for receiving funds (anywhere from £5-£30, or local currency equivalent), but this is out of Revolut’s hands.
If you are a Standard account holder, for each monthly billing cycle (this begins on the day you opened the account, not the 1st of every month), a charge of 0.5% will be incurred on the total exchanged amount that exceeds £5,000.
If, for example, £9,000 was sent to a German (euro) bank account at an exchange rate of €1.16, Revolut would levy a charge worth €23.2 (0.5% 4,000 1.16), or £20.
This means that customers likely to exceed the £5,000 limit should seriously consider signing up for a £6.99 p/m Premium account, which comes with unlimited currency exchange.
The live Foreign Transfer comparison table on this page shows how much you could save on your next trip by using a Revolut card.
Customers likely to exchange more than £5,000 worth of currency per month should consider signing up for a £6.99 p/m Premium account, which comes with unlimited currency exchange. At £12.99 p/m, Metal accounts are also unlimited but are unnecessary for FX purposes (Metal account holders have Premium benefits plus cashback on card transactions).
Premium accounts come with many benefits, including priority customer service, and although you must sign up to a 12-month plan, paid monthly, this can be cancelled at any time by paying the £14 cancellation fee.
In the example of the pound-euro transaction, described under ‘Standard Account’ above, the month’s Premium payment of £6.99 would be easily offset by the £20 saving made from not paying the 0.5% transaction charge (most of the cancellation fee, if needed, is offset too). If you will regularly exceed the £5,000 monthly limit then the savings over time from being a Premium Revolut member are obvious—they are substantial.
With costs so low, we think that a Revolut Premium account offers tremendous value, though be aware that Premium account holders face the same weekend and illiquid-currency markups as Standard account holders.
With the Auto-Exchange feature, Revolut users can choose to convert their funds at improved exchange rates. Within the Revolut app, users can select a rate they’d prefer, and when (or if) the market reaches that level, Revolut will automatically convert funds at the same advantageous exchange rates described above.
Similar functionality has been offered before by payments specialists, but perhaps not so cheaply and conveniently as Revolut’s offering.
Sometimes known as “watch,” “firm” or “limit” orders, what Revolut offers is technically a “market if touched” order, which means that the achievement of an exchange rate will act as a trigger for a transaction; it is not a price guarantee. Since there is a slight delay between the trigger and the transaction taking place, transacted rates might differ from targeted ones when markets are moving rapidly. Revolut is aware of this and has added Auto-Exchange controls to ensure that customers do not change currencies at completely unexpected rates. If the exchange rate would differ by more than 0.75 percent from the targeted rate, Revolut will cancel the exchange and re-attempt the transaction if the market trades again at the targeted level.
By way of Revolut allowing users to configure targets that are both better and worse than current exchange rates (you can choose to sell a currency that has fallen in value or buy a currency after it has risen), Revolut has opened the door with this feature to currency speculation.
Users are allowed up to 30 automatic exchanges per day.
Revolut generally receives positive feedback from users, especially for its user-friendly app, competitive exchange rates, and low-cost international spending. Customers appreciate the ease of setting up an account, the ability to hold and exchange multiple currencies, and helpful budgeting features.
Pros highlighted in reviews:
Common complaints include:
Overall, Revolut is well-rated for day-to-day money management and travel, though users seeking traditional banking features or robust customer service may find limitations.
How much does it really cost to live, work, or travel in ? Here's what to expect for daily expenses and expat living.
Travel Guide to the European Union (ISO Code: EU)
For travelers planning a one-week mid-range stay in the European Union, it's advisable to budget around €900 to €1,200, which provides a comfortable range for exploring culture, dining, and accommodation. While expenses can vary widely depending on the specific country within the EU, you can expect typical daily expenses to be around:
In general, the EU can be considered an average to slightly expensive destination for visitors. Compared to the United States, travelers might find prices for dining and transportation in major cities like Paris or Berlin to be similar, although entertainment and attractions can be pricier. When stacked against the UK, one might notice that costs in London tend to be higher, particularly in accommodation and dining, whereas some Eastern European countries could offer better value for money.
Expat Guide to Living in the European Union
For expats moving to the EU, the typical monthly living costs can vary significantly based on location but generally range from €1,500 to €2,500. Major cities like Berlin or Barcelona might push the higher end of this range, while smaller towns can be more budget-friendly. Essential costs include rent, utilities, groceries, and transportation, all of which should be considered when planning a financial budget.
When it comes to banking and managing money, cashless transactions are widely accepted, and it's advisable to use a credit or debit card with no foreign transaction fees for convenience. While local exchanges are viable, opting for online transfer services like Wise or OFX can offer better rates and lower fees for sending/receiving money internationally, ensuring you retain more value from your funds. Always keep an eye on conversions to euro (EUR), as using the local currency often yields the best rates when settling bills.
View a full list of exchange rates by selecting your Base (from) currency:
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