Cashback on Credit Cards


#21

If they have Czech account number to top up I would use that however they don’t have so I use my card to top-up.


#22

Revolut would be fine if local transfers existed for all their currencies.


#23

Even then it still has zero incentive, it´s crazy really that if i deposit using a CC i make money just by moving money from cc to revolut and then paying the cc bill from my regular bank account. Granted its very small amounts but it adds up quickly if many people do it.

Sure, i dislike SEPA aswell - it takes about 3-5 banking days for them to appear if i send from my swedish account.


#24

Doesn’t Sweden use SEK, not EUR? Would be nice if the UK did what Sweden did and ensure prices are kept the same for transferring EUR and the national currency (GBP in the case of UK)


#25

Yes, member countries can decide to treat transfers in own currencies the same as with SEPA and the swedish government has done exactly that, so i can transfer using a swift to revolut in SEK without cost, that takes 3-5 days.

I have another IBAN account in malta and when i use SEPA to transfer to/from revolut that also takes 3-5 days before i see the funds. Using the CC is instant and i get a small cash back - hmmm hard to decide what to use :nerd_face:


#26

It’s a shame to be honest. I wish Britain would adopt the euro so I can use my national banks, instead of having to keep my money abroad.


#27

To be honest i look at it the other way around. Sweden is a small country - why have all my money in a single small country? I shop and travel enough to warrant having a bit of savings in EURO so i’m hoping for revolut savings accounts in the future. Currently i have a euro savings in ferratum bank based in malta instead.

In the long run revolut probably has to do what monzo already seem to have done, ban cc top ups.


#28

Here it’s a little different. UK economy is very large, so the chance of my bank going under isn’t very large, and I can spread it across multiple banks to ensure if one goes under I have another.

I have Revolut for storage of € and Starling and N26 are working on it also. I also think eventually Metro will be introducing them, as they’ll probably see the use of country expansion.

As long as the pound keeps its value anyways, I can just spend in that and rely on my strong currency to buy things. (N26, Revolut, Starling, Metro (in the EU), Nationwide (in some accounts))

Edit: Note that I’d rather just directly earn € in the Frist place (assuming SEPA Instant becomes widely adopted) and that we remain in the EU. I like my EU friends and not having to rely on exchange rates.


#29

Actually i think we should all have a bit of funds in more than one country/currency. I see no downsides to it and view it basically as an insurance against S… hitting the fan :grinning:
Reason i use ferratum for EURO savings is they have 0.6% interest while :r: has 0%.

On the other hand i dont trust governments at all and also think all of us should act like the central banks and build our own small gold reserv :balance_scale:


#30

A common currency is very important because it lowers the barriers of a country. This is the purpose of the European Union and European Free Trade Area (where freedom of movement of goods, people and money exists).

You should be able to walk from Poland to Austria and act as if it’s a single country. Then you should be able to walk to Finland and into Estonia, again as if it’s the same country. This is the beauty of the idea of the “single state”.

It also helps businesses as they can sell to many more markets


#31

Absolutely, and it does work that way, i have driven from sweden to hungary without showing my passport or even get stopped once! That is somewhere in the region of 5 or 6 bordercrossings.

Common currency however i´m not so sure about. Part of sweden get through 2008 crisis the way we did was the fact that we had own currency and own central bank who could act. For a while ECB had low interest trying to control Greece on one hand and the Celtic tiger on the other hand - Greece would have wanted low interest, Ireland high. It will always be compromises.


#32

This is what I love about the EU. Truly a place for everyone to live.

I’m sure about it, I’ll explain after responding to the rest (or during response to the rest, not decided yet)

Yep. Greek financial minister was pitied by the British one, who said he would have never wanted the job of trying to work to fix their economy when not in control of their own currency.

To combat this we implement rapid investment into Eastern European countries like Romania, we move them to the euro along with other countries like Poland and then in EU Parliament, we pass common monetary policy. With common monetary policy we don’t need to worry about anything because all our interests are from the perspective of “European Union” not “Sweden” “Greece” “Ireland” “UK” et al.


#33

The problem is that we all talk EU when everything is fine and dandy. This kind of discussions should be negotiated during a burning crisis.

Then we wouldnt have Germans accusing Greeks for beeing lazy etc. As soon as the finances go down people tend to become extremly nationalistic, hard if not impossible to stop i guess.

And the bordercrossings - all was fine, not so sure now that we had our share of terror acts. Öresundbridge has police stopping anyone trying to enter sweden since about 2 years now.


#34

Yeah nationalism is stupid though, surely people should just chase their best future.

Yeah London is like this, they have police that can be there in minutes now and I’m pretty sure they’ve stopped going after people smoking pot in favour of funding actual issues due to not having resources to do both. Money is getting tighter but resources are needed more than ever, partially because terrorists are making the police have to work harder