Do I need to exchange to GBP if I want to pay in GBP?


#1

Hi all,
Soon I’m going to travel to London. Do I need to exchange from EUR to GBP if I want to pay in GBP
I mean I’ve got my Revolut account in EUR. When I use my Revolut card in London, Should I exchange from EUR to GBP before the payment?

Thank you in advance.


#2

Hello, this is a very valid question.

Your main currency is EUR and you added GBP as a foreign currency.

In case you did not exchange any GBP and you pay in GBP while you travel, what happens is that it will convert your GBP to EUR with the spot rate (Revolut takes no commission on a week day).

In case you have a Revolut GBP balance, when you pay in GBP it will deduct from your GBP balance (assuming you have enough balance).

Which one is better? Well you can never predict the exchange rate, so you never can tell.

However, there is one major benefit of exchanging EUR to GBP in advance is that you can avoid the 0.5% Revolut charge during week-ends, so it is better to use on the week-end some GBP exchanged on the previous Friday (assuming no exchange rate fluctuation between Friday and Saturday/Sunday).


#3

No, it is a question posed a gazillion times.

However, you are totally right. By now I’d change the amount I would expect to spend during holidays into local currency – as long as it is supported.


#4

unfortunately there are too many supported currencies we cannot pre-exchange :frowning:


#5

Yup. I need Indonesian Rupee but GBP are in, as far as I know. :joy:


#6

Thank you all, for the answers, especially to @pprt .
You are right @Laurenz_L, the question is recurrent. I should have read before the forum. There are many similar questions. Anyway thank you.
Regards.


#7

Never mind. :slight_smile:
A lot of them are. Often it doesn’t fit your needs :100:% but sometimes it does.