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Free Multi-Currency Visa Card @ Revolut

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Free Multi-Currency Visa Card @ Revolut
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AssociatedLmakeshift on 30/10/2019 - 17:34 revolut.com (735 clicks)
Last edited 30/10/2019 - 17:57 by 1 other user

Free multi-currency card from Revolut which is relatively new in Australia. They have paid tiers but the base product is free.

I saw a post about Transferwise and haven't seen one about Revolut so wanted to share.

I’ve been using it for about 2 months now and have a pretty good experience in terms of day to day transactions overseas. It's still missing the ability to generate account numbers and you can only add money to the card by another debit or credit card (although I only use debit as I assume the credit card might be treated as a cash advance?). Other than that it has been pretty good for my travel purposes.

https://www.revolut.com/

Worth checking out if you are doing any travel or perhaps making online purchases in other currencies.

  • Spend in over 110 currencies at the interbank exchange rate
  • No fee exchange in 15 fiat currencies up to A$9,000 per month
  • No fee ATM withdrawals up to A$350 per month

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Referral: random (169)

$50-$110 for the referrer only. Referee gets $0. Each referrer can refer up to 5 sign-ups. Three minimum $10 purchases by referee required.

Financial Credit Card Currency Exchange VISA

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Comments

  • mbck on 30/10/2019 - 18:00
    +6

    Travel with ease

    SPEND ABROAD

    We don’t believe in financial borders, so it’s only fair that we let you spend abroad in over 110 currencies with the interbank exchange rate, with a small 0.5% fee for anything above A$9,000 each month. A flat mark-up on weekends and on certain currencies may apply.

    WITHDRAW MONEY ABROAD

    Although ATM withdrawals cost us money, we give you A$350 a month in international ATM withdrawals for free. Anything over A$350 attracts a small 2% fee to help us cover our costs.

    No thanks

  • i7-2600k on 30/10/2019 - 18:15
    +11

    Imagine what you can do with 350 dollars on a holiday. Exciting.

    Then sign up to a Citibank debit

    • iMagoo on 30/10/2019 - 18:43

      Unless you're in an underdeveloped country / country with lack of EFTPOS adoption, who actually carries cash beyond a couple hundred?

      • cynicor on 30/10/2019 - 18:53
        +1

        Japan for one. I do in Singapore. Generally have around $1k on me in both. But regardless, that makes even more reason to want more than $350 as you'll be withdrawing a few times if you don't want too much cash

        • walaj on 30/10/2019 - 20:07

          +1 on Japan - is strange - you can pay for nearly everything with plastic. Except the Toyko metro. And some cabs.

          • [Deactivated] on 30/10/2019 - 21:06

            @walaj: Japanese credit card adoption rate is extremely poor. Unless you are talking about suika payment, which is not everyone's cup of tea.

        • Ryk on 03/11/2019 - 10:26
          +1

          I've just spent two weeks in Japan, didnt use an ATM at all. Revolut card was great, so was up and ing. Everything on debit cards, major stores and chains, combinis. The only issue is contactless is not widespread so its insert card and mostly signature.

          But most people will need some cash, take a fee free debit card from ING, up, Macquarie, citibank or bankwest platinum credit card.

          • walaj on 06/11/2019 - 08:43

            @Ryk: my point was more that the metro generally doens't let you buy or topup your suika card via credit - you can (generally) only use cash

      • GeneralKeen on 30/10/2019 - 21:26

        What about China?

  • alenpln on 30/10/2019 - 18:28
    +1

    Transferwise has same features, and it does have currency conversion fee, but its exchange rate generally better so even with the fee it is still better than Revolute without fee.

    • IsTops on 30/10/2019 - 18:45

      Thanks, this information is actually very crucial

    • cynicor on 30/10/2019 - 18:52
      +2

      I'd be surprised if their fx rate was better than the interbank rate. Esp if they have a fee on top.

    • Its4me on 30/10/2019 - 19:16
      +3

      I have both Transferwise and Revolut and the fee Transferwise charges has always made it worse than Revolut whenever I've exchanged currency; Transferwise also has an unavoidable fee to transfer out to a bank account even if you don't exchange currency which Revolut doesn't.

      Very useful for bank transfers; I've only used the card a couple of times.

      • cubiq4 on 30/10/2019 - 19:31

        I've used Transferwise a number of times, it's always been cheapest for the amounts I've transferred but on smaller or larger amounts it may not work out to be, it really depends.

        As for a trasfer out fee, I've never paid on for GBP to AUD or back, but then I do have accounts in both countries. These transactions even complete in less than an hour typically.

  • cynicor on 30/10/2019 - 18:55
    +2

    I understand the need for this card in other markets, but just can't see why it would be that valuable in AU where we have ING, Citibank debit, Mac bank and Ubank all for fx fee free ATM withdrawals overseas, and ING who even rebate the owner fee, if any.
    Its main attraction is locking in rates which is just a gamble because you lose interest (esp if you would have kept it in an offset) and get screwed if the $ appreciates.

  • nicrankin on 30/10/2019 - 20:22

    No sure if i'd call it free as you need to deposit a minimum of AU$25 before they send the card. Maybe update the title with the required deposit.

    • wisdomtooth on 31/08/2020 - 21:05

      A deposit is not a cost. Free means no annual fee.

  • arctan on 30/10/2019 - 20:25

    So how does credit card top up work on revolt? If it's free then it's good for earning credit card reward points.

    • cynix on 30/10/2019 - 20:41
      +1

      I’ve had mixed experiences with credit card top-ups. It seems sometimes they randomly put the transaction through as cash advance. I’ve been charged a cash advance fee twice so far, even though earlier top-ups via the same card were processed as purchases.

      • arctan on 30/10/2019 - 21:00

        Did all of those top ups from the same credit card or multiple credit cards?

      • MitchBoss on 31/10/2019 - 18:03

        What bank is your credit card?

      • setsuna on 10/12/2019 - 15:54

        Started happening to me too, starting from Dec. All prior top-ups are treated as purchased. I have ANZ credit card.

  • chyawala on 30/10/2019 - 20:57
    -1

    Tough crowd here going over it with a fine tooth comb, and compared to other products it's a tough sell. How well can you polish a turd?

  • toobzy on 30/10/2019 - 22:19

    Can anyone confirm if you load value on any of these services with a credit card that it counts as a cash advance?

  • ramboando on 31/10/2019 - 15:19

    How do I change my account from UK to Australia?

  • micemeat on 02/11/2019 - 05:52

    What does ref do? No bonus other than priority?

  • wisdomtooth on 31/08/2020 - 21:07

    Basic question: When transferring money, is the currency to be selected the one of origin or destination?

  • AussieMark on 26/01/2021 - 20:36

    Looks like I have to pay delivery fee for the card?

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