Currency converter showing strange results


#1

When using the in-app currency converter, I find it’s use quite confusing and actually quite difficult to use in the field. At this point I’m not sure whether what I’ve observed is a bug or a feature…

Let me give a simple example of what I have observed: I walk to a shop in Korea and see an item I’d like to purchase priced 1994 KRW. I wonder how much is that in EUR.

I open Revolut, go to the converter, add KRW to the list of currencies and type 1994 on the KRW line. Then I’d expect to see 1.61 EUR written on the EUR line. Guess what? Revolut displays 1.40 EUR!

Here are some screenshots to illustrate:

What Revolut Displays when entering “1,61 EUR”:

What Revolut displays when entering “1994 KRW”:

Note: at the time of writing 1 EUR ~ 1240 KRW.

For having experienced this myself I know that if I were to pay for that item with my Revolut card, the charge would actually be 1,61 EUR and not 1,4 EUR!

Could you guys look into this?


#2

Hello @millow,

Thank you for your time to provide your feedback. We’re now investigating this for you, and we’ll keep you posted.


#3

I was going to say the same thing. I believe it is backwards, basically it is showing you the exchange rate if you were receiving money in the target currency, rather than exchange that you would be paying if you were paying with the target currency.

So basically, in your example if you had an account in KRW and you were to exchange those into EUR, then you’d get the 1.4. However, I think we agree in that that it is not what we want to know. We would like to know how much we would pay in EUR, not how much you would receive. The typical case use of the converter is to be in a foreign country and wandering how much is a certain item.

If you want to get the correct amount, then you have to play around with the amount in Euros, so in the KRW field it appears the amount that you spent.

@AndreasK can you confirm if my assumption is correct?