Ok so I understand that you can withdraw £200 or the local equivalent from a ATM free of charge (PER MONTH) a 2% fee applies thereafter. But how is this calculated? I want to withdraw £200 worth of TRY. I changed £500 on the app at 5.5328. But I have been told that it’s calculated by the rate at the time of the ATM withdrawal. Not at the rate that you converted the currency via the app? Has anyone had any experience with this?
That’s correct, the limit is £200/€200/Fr200/800zl or equivalent for non premium users (400 otherwise).
For the conversion rate, it all depends on what you have in your Revolut account.
- if you have only British Pounds, and you withdraw Euros at an ATM in Europe, then the conversion will happen when withdrawing the money, using the GBP/EUR rate at that time.
- If you withdraw Euros, and already hold Euros in your account, then no conversion will happen at that time.
- Whenever you convert one currency into another in the app (through the Exchange button), it will use the exchange rate at that time.