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No Foreign Transaction Fees (i.e. Use Any Card & No Load Fees) + Unlimited Disposable Visa Cards ($11/Month) via Revolut

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No Foreign Transaction Fees (i.e. Use Any Card & No Load Fees) + Unlimited Disposable Visa Cards ($11/Month) via Revolut
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atymic on 02/02/2021 - 11:20 revolut.com (2652 clicks)
Last edited 02/02/2021 - 15:53 by 2 other users

I noticed a lot of the previous deals for these kind of card/service (like Divipay) were highly voted in the past.

With Revolut, you get no FX fees on weekdays (weekends is 0.5%), and you can load from any credit/debit card with no fees. There is a limit of $9000/month on the free plan.

Full fees list here. No charge for the physical card either. ID verification required.

As far as I know, they are the only ones that can be loaded from a different debit card with no fees. Looks like it get classed as a cash advance for credit cards, so not points and potential fees.

Also supports bank transfer loads if you prefer that.

In addition, they offer 1 time use disposable cards which are awesome for free trials/etc. You need to be on the premium plan ($11/month) for this or have signed up when it was waitlist based (and you'll be grandfathered onto it). I've used these countless times, great for dodgy merchants which you don't trust with your card details (looking at you chinese deal sites), and for free trials that you sign up to and forget to cancel.

It's worth noting that sometimes the authorization charge doesn't rotate the card, so if you don't use it for a different merchant before the month billing cycle you could still be billed. It's always best to cancel trials anyway in case they come after your since you contractually agreed to pay (even if they fail to get payment from the expired card)

You also get a virtual non-disposable card that can be changed 3 times per month (I think?) on the premium plan, as well as a physical card. Instant add to Google Pay and Apple Pay on signup as well while you are waiting for your card in the mail.

A free multi-use non-disposable Virtual Revolut Card is available on the free Standard plan.

Revolut also offers stop-loss and limit orders for foreign currency, so you can actually have it automatically convert when the currency conversion is most favourable.

Referral Links

Referral: random (173)

$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 Foreign Exchange Money Transfer VISA

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Comments

    • atymic on 02/02/2021 - 13:00

      Due to OzB rules can't mention it in the OP, but yes :)

    • amorn on 28/02/2021 - 16:20

      do you have to make purchases to qualify? signed up, bu no bonus yet

      • tajid on 28/02/2021 - 21:02

        Nothing for referee and they have changed to $30, need to order the card (charge delivery fee if not premium) and use it 3x. Too much work.

  • [Deactivated] on 02/02/2021 - 12:58

    zip works better for me as they have the same one time card thing (not sure about forex fee) and I can pay it off by any visa/master without fee

    • elecpurch on 02/02/2021 - 13:11
      +1

      Did they do a credit check for you?

      • atymic on 02/02/2021 - 13:15

        They did on me

    • umoddbro on 02/02/2021 - 13:38

      Is there a limit of how many times you can you use the one off card on zip?

  • TaurusHead on 02/02/2021 - 12:58

    This or Transferwise?

    • atymic on 02/02/2021 - 12:59
      +3

      This is cheaper :)

    • TaurusHead on 02/02/2021 - 13:22
      +1

      Is Virtual card enough to get my Turkey Netflix work or have to have Physical card for that?

      • atymic on 02/02/2021 - 13:29

        Virtual should be fine

        • anhtram222 on 02/02/2021 - 19:11

          my netflix turkish doesnt work with the visual card, no idea why

          • TaurusHead on 05/02/2021 - 12:02

            @anhtram222: Yeah not working for me either, anybody has any idea how to make this work?

      • [Deactivated] on 02/02/2021 - 14:13
        +1

        The card BIN is Australian, so Netflix will attempt to charge it in AUD. That doesn't matter though, since Netflix doesn't base the content library on the domicile of the payee, but on the geolocation of the IP address used to access it.

      • G-rig on 03/02/2021 - 09:29

        Would virtually have to pay it every month??
        plus need a turkish mobile number, that's when things get too hard
        Try brazil, a few bucks more ($8 stanard, $11-12 premium).
        better off using the card generator if it's just for a one-off test (verification)

    • mohan76 on 02/02/2021 - 13:48

      I use Transferwise
      No fee
      Instant credit (payid)
      no cash advance fee for lotto purchase
      you can withdraw money

      • Meovel on 02/02/2021 - 18:36
        +2

        There is fee with tranasferwise currency conversion isn't it?

        • DoctorCalculon on 03/02/2021 - 02:49

          Yes, there is. Transferwise charges a fixed amount to cover their costs for each foreign transaction.

    • packeteer on 03/02/2021 - 09:38

      Transferwise covers more countries

  • kehuehue on 02/02/2021 - 13:08

    No samsung pay? google pay sucks, couldnt get it work with my HSBC card (worked fine for Myki tho)

    • atymic on 02/02/2021 - 13:15

      Works fine for me, instant add to Gpay, give it a try?

      • [Deactivated] on 02/02/2021 - 14:14

        They said Samsung Pay. And no, no Samsung Pay. Only Google Pay.

  • vikvance on 02/02/2021 - 13:18
    +1

    It's worth noting that sometimes the authorization charge doesn't rotate the card, so if you don't use it for a different merchant before the month billing cycle you could still be billed.

    What does this mean in plain English, and is there any way to avoid this risk ?

    • atymic on 02/02/2021 - 13:28

      It's weird but sometimes they (a free tiral site) do a $1 auth but the card stays the same without changing. No idea why.

      • [Deactivated] on 02/02/2021 - 14:17

        Transactions are a two step process - authorise, acquire. When the transaction is authorised, that's simply the merchant saying "I want to charge $xx to this card. Is there sufficient funds? Is the card valid? Is it blocked or otherwise unavailable?"

        Typically, the issuer (your bank, credit union, or fintech) will then "hold" or "pend" that auth amount for 7-14 days. During that time, the merchant can then choose to acquire (charge it) which results in the actual payment happening, cancel it which would result in the funds becoming available again, or simply let it expire at which point the issuer will simply return the funds to available balance.

      • illumination on 02/02/2021 - 16:34
        +1

        This is not my experience with Revolut disposable cards. Mine is such that as soon as there is an authorisation request, the disposable card gets destroyed, even if (as per Kyanar's elaboration) the authorisation doesn't go through to being actually charged

  • nfr on 02/02/2021 - 13:30
    +1

    So the main benefit of free plan is no FX fees? How is it different from Citiplus and 28 Degrees?

    • [Deactivated] on 02/02/2021 - 14:18
      +1

      Citi and 28 degrees use the Mastercard rate. Revolut uses the interbank rate, and makes the payment in the actual currency of the merchant.

    • netjock on 02/02/2021 - 14:41
      +1

      You can send money to foreign accounts FX fee and bank charge free (depends on country).

      I send amounts to my friends UK bank account without having to go through CurrencyFair, XE or Transferwise that have a slight loading or withdrawal fees.

    • G-rig on 03/02/2021 - 09:32

      true, don't see any point if you have those

  • Koipanda on 02/02/2021 - 13:48

    Is anyone getting the signup SMS?

    • arctan on 02/02/2021 - 14:17

      I got it in 2 seconds

  • highwind on 02/02/2021 - 14:14

    If there's no margin, then can this be used to effectively do Forex trading without fees? (up to $9k per rolling month)

    • [Deactivated] on 02/02/2021 - 14:24

      Yes. They even offer limit and stop order types for foreign exchange. But forex moves in such tiny amounts that unless you're leveraged, that $9000 AUD limit makes it pointless.

      • netjock on 02/02/2021 - 14:40

        It is OzBargain, we make a million 50c at a time.

  • arctan on 02/02/2021 - 14:17

    Cant seem to order a new card for free. It's asking for 9.99 delivery fee and app crashed.

    • bohn on 02/02/2021 - 14:21

      yeah, they're saying the card is free but delivery of the damn card is $9.99 ;)

      • netjock on 02/02/2021 - 14:39
        +2

        Like eBay item: $0.01. Delivery $9.99. Then comes in an envelope with a 50c stamp.

    • burningrage on 02/02/2021 - 14:52

      Like they always say, "The Delivery Kills It".

    • Benjkmv on 02/02/2021 - 14:56

      Better to add it as apple or google pay than ordering physical card

  • Maxxjet on 02/02/2021 - 15:08

    Just be aware their back office ( IT set up) can drive you nuts and mental… They view everyone like criminal until proven innocent….I don't recommend them as the only advantage for their FX is if you need lots of FX cash. If you use your Master/Visa cards ( these without FX fees) there is no difference ( better as they are credit cards). If you need some petty cash, the savings you get from them doesn't justify the hassles.

  • creditcardguy on 02/02/2021 - 16:27
    +1

    can i transfer money from AUD to INR through Revolut without any transaction Fees ? So it is same as Transferwise minus transfer fees?

  • tpup1 on 02/02/2021 - 17:15

    Other than international transfers, is there any benefit to using this vs just using a no forex fees debit card (e.g. Ubank)? For example, if you just want to pay for something overseas or withdraw cash from an overseas ATM.

    • bohn on 03/02/2021 - 06:46
      +1

      more benefit using the bank.. cos it is actually a bank.
      this doesn't have a banking licence.

  • OneTonneRodeo on 02/02/2021 - 17:37

    I used this to transfer USD currency into Schwab for US stock market trading. Arrived basically 1-2 business days, not a single fee along the whole process.

    Will use again, but have also read some reports that there is an unpublished threshold ($ value) that determines whether a transfer is initiated as wire or ACH deposit. No official details on that though, just anecdotal accounts online where some transfers have then been bocked/charged at the receiving end. Not sure if also impacted in any way by the fact Revolut UK/EUR might be different.

    • Meovel on 02/02/2021 - 18:43

      I thought broker account only accepts incoming transfers with sender name as yours?

      • OneTonneRodeo on 02/02/2021 - 19:32

        Can't speak for every broker, but with Schwab, if you use the details under "Direct Deposit and sending money to a Schwab account", then it accepts its as these details are intended for third parties such as employer payroll and "other payors" to pay directly into your account - in this case, be it from Revolut or TW for that matter. Just the threshold with Revolut I'm not sure about that might trigger it as a wire instead and get blocked.

        • Meovel on 02/02/2021 - 19:40

          Thanks, does Schwab provide service to NRA?

    • AntifaBriggs on 12/02/2021 - 13:35

      Do you have any more information about this?

      I saw in the fees structure it is free for both ACH and wire deposits.

      It's only $25 for outgoing wire transfers.

      • OneTonneRodeo on 12/02/2021 - 13:51

        What would you specifically like to know? I've made a few transfers, made into the direct deposit details shown in Schwab - it's for third party payers to typically pay into, but still works for outside third party fx providers. Small transfers for now, each has been fee-free to send/receive. Largest one was over $3k aud.

        I don't have any conclusive info on it, but some rough research suggested transfers that were in the vicinity of $6k or so were starting to potentially go through Revolut system as wire transfers rather than ACH. And in that process, I believe some people reported intermediaries or Revolut or receiving bank were taking a small cut. But this whole issue is related to Revolut and separate to Schwab, so can't really clarify what would happen there, or proper details nor can I guarantee the details around thresholds, etc - sorry. Might not even go through given if Revolut tries to send as wire into account that is intended for direct deposits, not sure, hence keep my transfers small. Also a risk Revolut halts you in general, others have reported this when they want to verify activity, and I've heard this is a potential nightmare to navigate.

        Yes, I believe there is a $25 (usd) outgoing wire transfer, or $15 if it's done through the Schwab online portal.

  • Bubbleshark on 02/02/2021 - 17:44

    What would be the point in getting a credit card if the debit card does the same? (sorry for noob question)

    As we are in the middle of an economical crisis, anyone knows who they are backed up by? I wouldn't want to wake up one morning and get myself in a Lehman's brothers situation. I planned to get this or N26, if anyone has any insight it would be welcomed

  • Rollymaan on 02/02/2021 - 17:56

    Woeful customer service. I had my account locked with funds in it . Due to my I'd expired.
    Never again. And the only way to get in touch is in the app.
    Shady business model.

    Never had any issues with transferwise

  • sub102 on 02/02/2021 - 19:19

    Is this a good for sending money from USA to here (Australia)?

  • KintaroOe on 02/02/2021 - 19:38

    Also Customer Support is basically non-existent.
    That's an important thing to remember.

  • No ONE on 02/02/2021 - 20:32

    Also gotta plan what would happen in the event seller refund your money and the card no longer exists.

  • DoctorCalculon on 03/02/2021 - 02:47
    +1

    According to Revolut:

    Currently the following currencies are supported for holding and exchange: AED, AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, MXN, NOK, NZD, PLN, QAR, RON, SAR, SEK, SGD, THB, TRY, USD, ZAR
    More currencies are coming so stay tuned!

    In terms of currency coverage, Transferwise clearly wins the round.

    • oswade on 06/02/2021 - 22:07

      I think they support more than that for sending currency. You just can't store certain currencies.

      For example
      https://blog.revolut.com/you-can-now-transfer-locally-in-idr…

      • DoctorCalculon on 08/02/2021 - 00:01

        I think they support more than that for sending currency.

        Thank you for your comment. This is good to know.

        So, these are just examples: { IDR, INR, MYR, PHP }?
        Where can I find the exhaustive list of countries where you can forex funds via Revolut in addition to the 27 mentioned above?

  • ely on 03/02/2021 - 06:40

    Zip also does single use cards, and payments (for me, from ANZ, YMMV) via credit card are not treated as cash advances.

    I have this feature grandfathered on my Revolut account too, but don't really use it (or Revolut, tbh, just got on the waitlist way back out of curiosity).

    This is still a good deal, and Revolut is a pretty decent product, but I tend do to all my spending via cards that earn points so Revolut's debit cards aren't all that useful. They have brought in some sort of points / rewards system that I haven't looked into yet though.

    • Anonymous User on 06/05/2023 - 12:23

      I did the ANZ to Revolut one too many times. They cancelled my account.

  • packeteer on 03/02/2021 - 09:40
    -1

    Revolut doesn't cover the countries I transact with, and they've started sending me ads

    big downvote from me!

  • tajid on 03/02/2021 - 21:29

    Can you use Zip to pay Revolut via Apple Pay? Any fee?

    How long does it take generally until payment is received overseas?

  • samehada on 04/02/2021 - 22:50

    Can anyone tell me how to initiate the chat with them? My account is blocked and it ask me to Live Chat to them but when I clicked on it it has "New Chat" option but it just open the High Volumes windows with 2 options "Got It" and it go to FAQ page or "Chat to us" and it just go back to the previous "Live Chat" page…

    I don't even see any waiting option so how can I initiate a chat with them???

    • bohn on 05/02/2021 - 10:15

      I don't even see any waiting option so how can I initiate a chat with them???

      anyone in your family have an account?
      try getting them to login and see if you can initiate a chat in their account

      • dn4hc on 05/02/2021 - 12:33

        Never do that, both of you will get locked out and then get stuck in limbo. Features are good but communications are abysmal.

        • bohn on 05/02/2021 - 12:42

          doesn't seem worth the hassle to use them.
          at least not for any significant amount.

      • samehada on 05/02/2021 - 14:49

        so how does the chat work? Will it get to the waiting screen if you press "New Chat"? They should have at least got the email option.

        • Maxxjet on 05/02/2021 - 19:36

          They don't have anyone in AU so all serviced from Eastern European countries.

  • bohn on 23/03/2021 - 11:52
    +1

    New fees coming in for sending funds to overseas bank accounts.

    The minimum fee will be A$0.30 and the maximum fee is capped at A$8.
    Premium users will receive one international bank transfer per month at no charge.

    https://assets.revolut.com/legal/terms/International_Transfe…

    • tajid on 23/03/2021 - 13:55

      Not sure if this is applicable to using the card for international transaction.

      • oswade on 24/03/2021 - 18:43

        Believe it's just transfers, not purchases/transactions

        • tajid on 25/03/2021 - 22:38

          Yup chat confirmed.

          • bohn on 26/03/2021 - 09:49

            @tajid: yeah it's just transfers, but a few people have commented in this thread about using it for that purpose so thought I would mention it.

  • zenzen on 02/04/2021 - 10:27

    Some say transferwise is cheaper some say Revolt.
    I tried to get actual cuculation on Revolt page but doesn't seem to have a quick calculation page unless you sign up and install app?

    Can anyone give me a quick total amount comparison of the recipient to receive if A$1000 is sent to US bank account? Vs Transferwise? I suppose they both use interbank rate.

    • tajid on 02/04/2021 - 20:40

      Revolut is better for under $9k (or platinum) as it's at interbank rate with no fee, while wise is interbank with fee.

  • activeight8 on 20/08/2021 - 22:36

    Can someone pls explain the disposable card situation. I understand that the feature is currently part of the premium plan.
    However if you just use one virtual card. Can you regularly remove and recreate it on the free plan ?
    Thanks

  • Yuppieshrink on 03/04/2024 - 01:58

    Still has the awesome referral bonus

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