I’m finding the ATM limitation £500 per calendar month irritating.
I am lucky and live on a boat.I travel abroad frequently. In Holland this year I was often unable to pay by card as MasterCard is not widely accepted so often had to pay cash.
If it could be raised to either £750 or better still £1,000 per month that’d really help
Regards
Adam
I think the problem is not the amount. I would much rather see that the withdrawals would have the following structure of fees;
First 3 withdrawals in calendar month - free regardless of withdrawn amount
Every following withdrawal in calendar month - 1 to 1,50 EUR per withdrawal regardless of amount.
I think this would be fair and convenient.
It’s not really a limit, it is just that operation is expensive to Revolut so you get charged 2% which is still less than most of the banks.
The ATM limit is not just to avoid fraud or just to annoy customers ; actually asking money from an ATM costs a lot for the bank even though you pay nothing. That’s why the limit has been created recently. (After £500 it’s 2% of total money taken)
However, maybe we can consider an ATM Travel option you pay every month (imagine 1 or 2£) to allow you to increase the limit without paying the 2% fee.
Note: Sone other free online banks make their customers pay a lot more for ATM withdraws!!
There is no limit AFAIK, it’s just the point where they start charging you for it.
The costs for withdrawing from ATM machines is quite high, so it can cost them an awful lot of money to provide it for free at all.
Some free online banks do offer free unlimited ATM withdrawals. They then proceed to boot out anyone who does too many ATM transactions. This way they get rid of the costly customers and they can still market that their ATM withdrawals are free.
I would be very concerned if Revolut were offering an unlimited (or even very high) free ATM withdraw limit.
Number26 bank for example, recently kicked an enormous number of customers out for this exact reason. I’d much rather pay a fee than risk getting kicked off the service.
I agree completely with @ryanhellyer. ATM withdrawals are expensive transactions for Revolut, so I am glad they give me a hard limit for the free offer and not a unlimited offer that is too costly to maintain. The way N26 handled it was not very professional, because those customers were just using their services.
And there is totally no limit for ATM withdrawals as long as you are willing to pay the 2% fee. So @AB1707, just use your card as much as you like. For use in Holland I would recommend a Maestro card though. You can pay almost anywhere there with Maestro.
Thank you all for the information. Clearly not very popular idea.
Regards
Adam
well yeah. I know atms cost money to maintain. But my regular european bank charges me 1% for withdrawal, and when I travel to asia every two months, taking out a thousand euros still costs me 10 euro or more. With revolut it would be 20 euro. That is why, I would prefer to either have a fixed price for each withdrawal (after a reasonable 3 free withdrawals monthly), that would not impact my withdrawals that much. Or having a 1 to 2 euro monthly charge as a travel option, to choose for when I am on the go. That would be cooler then the fixed 2%.
Keep in mind that altho stocking atms with cash costs money, the actual cost of that is somewhere between 0,15 and 0,40 EUR, depending on where the atm is. 2% makes sense when you withdraw very small amounts, but when you withdraw 500, 1000, 2000, it becomes unreasonable.
Thanks for great service tho 
I think the current limit is reasonable. Someone who lives on a boat can afford the 2% costs which is still lower then fees of many competitors.
£500 wasn’t enough for us either so my wife also got a card and therefore we could withdraw £1000 per month. I checked with support and was told it is calendar month so if your trip spans 2 months you get a £1000 limit anyway.
as far as I know, the limit resets itself every 1st of the month. So if your trip expands over two months, you should be able to withdraw without fee two times the amount.
I do not think this is about the idea being popular or not. If you would ask, all customers would want a service with no fees and extra costs. I would jump at such an offer. But that is simply not realistic. Revolut earns money on card payments, but cash transactions are very expensive. They have to balance their earnings and the costs. Apparently 500GBP is the amount where they can still make a profit and limit the costs of ATM withdrawals.
And the current limit is already very generous. Most cards charge you from the start when you withdraw money abroad.
Please don’t make assumptions about me. You have no idea what I can or can’t afford. Thanks for the rest of your opinion.
What does cost less for Revolut to withdraw
1 x GBP 500.-, or
5 x GBP 100.-
and what about using this service outside the UK. I could imagine that this costs even a lot more.
I think multiple withdraws (so opt. 2) costs more to Revolut.
We should be forcing banks to re-assess their fees for accessing our own money rather than condoning it!
Revolut is doing a great job at bucking this monopoly, but the end goal should be free ATM withdrawals for all… especially if we have to endure those advertisements that are creeping into modern ATMs
There is no limit. yes there is a 2% fee for anything withdrawn over £500 (or equivalent) but there is no limit.
Really? €5 or €10 per month would really impact your lifestyle? I somehow doubt that.
My understanding of the Revolut business model is to keep fees as low as possible. Presumably the aim is to build up a large user base and spread the cost to the customer.
With this in mind my assumption is that the £500 fee free monthly withdrawal limit is the maximum that is cost effective for the company, and personally I have been content to pay the 2% fee above this limit. It is lower than the fee charged by the majority of other card providers and (unless huge amounts are withdrawn) if averaged over total monthly withdrawals is significantly lower.