Currency Deposits


#1

Since many of us withdraw cash while abroad and usually leave some of it unspent I had an idea.

Why doesn’t revolut set up small booths or atms that allow you to deposit money of any currency to your account.


#2

I am afraid that the costs would somewhat outweigh the expected benefits.


#3

Yes, it is easy to see what benefit customers would get from this - we all have annoying tiny amounts of currency left over from a country we are never likely to visit again. I don’t see a benefit for Revolut though because it sounds expensive to deploy all these currency-eating machines.


#4

Nice idea but there’s no ATM in the entire world which accepts more than 4 currencies as cash in (and those would be Local+USD, EUR and maybe GBP).

More, it’s realy utopian idea. Extremely expensive and risky


#5

I’d rather keep these small amounts as souvenir or better yet give it to friends and relative going there one day…


#6

Yeah. Souvenirs :joy: haha.


#7

That’s what I’m talking about!! :pray: :clap:


#8

Available in London https://www.fourex.co.uk/


#9

That’s a bad joke :joy:

Tried to simulate some. They flgive you half of the value (for notes!).
Ex. 20000 iraqi dinars are approx $16 while those Londoner thieves will give you $8 :joy: what a scam…

Philippino Peso the same situation

Not to say that their website is not secure.


#10

Thats not what I was thinking tho, the deposits in the “ideal” scenario would mean that the leftovers would be directly deposited without conversion (if possible) in the users revolut account


#11

How should they make money?
Iraqi rates will go up and down extreem compared with pound/euro rate and they should make some money too as you should understand.


#12

Actually that’s wrong. Since I went in Iraq is quite the same: 1200 dinars for one dollar. It’s a quite fixed rate actually as both dollar and dinars are used.
Like in Lebanon, 1500 fixed liras (fixed for 20 years, never changes) for a dollar.

What about the philippino peso? For a 100$ in value they’re giving 50… also. PHP is quite stable.