Account in RUB would be nice

For traveling to Russia it could be very useful

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You can’t yet exchange or receive RUB within the app, but you can load card in GBP/USD/EUR & spend in Russia with the interbank exchange rate :ok_hand:t2:

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Yes, I know. And it’s awesome. In was just saying that exchanging RUB within so would be even better

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I confirm it works very well there, never had any issue with ATMs or in stores :muscle:

RUB could be a nice addition indeed :clap:

AndreasKTeam Revolut

Jan '18

You can’t yet exchange or receive RUB within the app, but you can load card in GBP/USD/EUR & spend in Russia with the interbank exchange rate :ok_hand:t2:

What about 1% comission? Please correct me if I am wrong - you always add on 1-2% to the interbank rate when spending in RUB. Thanks

RUB were added with one of the recent app updates!


Is this markup still up to date?
I have a monthly fee to pay in RUB for a streaming service, I may move the payment to my Revolut (at the moment I use a competitor card at the Mastercard rate)

See here

According to this page you pay extra 1-2 % for RUB, that’s why I reacted to Andreas’s statement above. He works for Revolut so I believe he must be certain about the rates.

MasterCard rate seems to be in average 0.25% worse than Interbank rate, but with 1% it becomes more beneficial to use MasterCard rate , even on weekdays.

On the other hand, with Revolut you can set up autoexchange in such way that it will buy some RUB for you every time when the rate fluctuates down. But it requires some time and energy to calculate and set up accordingly, and a risk of losing money of course .

Thank you for your reply. Actually I only need 199 RUB per month, so I guess the extra 1 or 2% will not make much difference. 2.77€ or 2.79€ instead of 2.74€, économies de bouts de chandelles as we say in France :sweat_smile:

I agree. But I would still ask the Revolut representative in this thread to correct himself or confirm the statement about “spending with Interbank rate” in Russia.

I agree; this is definitely a currency that Revolut should do more work on. I acknowledge that this is probably a lot more challenging to roll out because of compliance and operational issues. However, competitors like Transferwise are already offering it.

Apologies for maybe basic question as I am really new to Revolut. Does it mean I could send RUB from Russia to Revolut IBAN account (I guess via SWIFT) ? I was planning to bring some money from Russia without being charged excessive amount in fx fees so I hope that is possible now with Revolut ?

Basically, when you make a payment of the kind that you are contemplating, you need to be aware of the following issues:

  1. Remitting Bank Transfer fees: this would be levied by the Russian bank, as they are the ones sending the SWIFT message to transfer your funds. This can vary enormously between banks, account types etc, so it is very important to check with the remitting bank first. It could be free, and it could be as much as 2-3% of the amount transferred.

  2. Recipient Bank fees: as far as I am aware, Revolut does not charge these.

  3. FX conversion: your Revolut bank a/c will not be denominated in RUB, so either the remitting bank or Revolut will have to do the FX conversion. Your payment instruction will specify the currency of the payment you are making from your Russian bank to Revolut. If you are sending RUB from a RUB account, then there is nothing for your Russian bank to convert, and Revolut will do the FX conversion for you. If, however, you are sending GBP from a RUB account, then your Russian bank will do the FX conversion, and Revolut will simply accept the final GBP amount into your account. Each party involved may have different policies and fees associated with FX, so it is best to check both sides before making a decision on what makes the most financial sense. As far as I am aware, Revolut will add 1-2% to the FX rate that they are able to obtain for you. It is best to confirm this with customer services directly, rather than here. Your Russian bank will be able to advise you on their exchange rates and fees if you choose to instruct them to send the money in GBP.

  4. Currency Control: frequently overlooked yet very important. Russia has tight currency control laws that regulate who is able to take how much money out of the country. The legislation is quite complex; I recommend you take a close look at it to ensure that you are not inadvertently in contravention of it. You may also consult your Russian bank of course who tend to be well-informed on these matters; however, the ultimate responsibility for complying with these laws will be on you.

I do not think you can do it, because you need a correspondent bank based in Russian Federation which works with RUB and Revolut.

I could not find any bank in Russia which could send RUB to IBAN accounts via SWIFT so far. I guess RUB is limited to local transfers only unless bank has a special or extended licence.
Do you know any such bank?