I’m a recent revolut premium member. I’m going to Italy soon and need to get things straight. I’ve read everything, but also read other threads where people say the opposite.
Please correct me if I’m wrong :
I top up my Revolut card from my UK bank in GBP, then convert to local currency which is Euros.
I can then make card payments in shops or to buy anything for free?
I have a £400 ATM withdrawal limit monthly, does this include withdrawing rom any Bank cash machine? Are they classed as ATM’s?
I can make free bank transfers from my revolut account to european bank accounts
I read in other threads people debating about what transactions were actually free using your Revolut card. Are all transactions free apart from ATM withdrawals?
Yes. Actually you do not need to convert it first, Revolut will do it on the fly for you at Interbank rate. Just remember there is a weekend surcharge.
I read somewhere else people saying to exchange into the local currency first, but you say there is no need? I dont want to do something that ends up in charges!
There is no need - other than possibly to avoid the weekend exchange markup.
If you force the app to convert currency because you have no local currency in one of your Revolut accounts, and this occurs at weeknd when the markets are closed, you will get a poorer rate than normal. If you change funds you anticpipate spending over the weeknd to the local currency PRIOR to the markets closing you will not suffer this penalty.
I read this in another thread : No type of cash advance is supported (be it at the bank counter or grocery stores)
Is this referring to using your card in a card machine at the grocery store? I thought using your card in any card machine was free. Sorry for the silly questions!
AS opposed to using ATM’s, I would think this refers to drawing cash over a bank counter or asking for cash advance as part of a purchase transaction at a store.
Also remember to ensure you pay in LOCAL CURRENCY and refuse to allow the merchants bank to use their own conversion rate - which will inevitably be much worse. I would have given you the link to the Revolut Help section on this but the server appears to be down at the moment.