Earning money with travels and exchange rate


#1

Hi all!

I’ve been reading the FAQs and the community trying to find if anyone tried this, but I didn’t find nothing, so here’s my question/idea:

I travel a lot for work, but I know my calendar half a year or more in advance, so I know from October’17 that in August’18 I’ll be in the States. Knowing that, I can change now EUR->USD at 1,25 and spend them in August when (for example) EUR->USD=1,10, earning this 15 cents of every EUR I spend. If for example in August EUR->USD=1,40 then the idea is to use my EUR account in the States, converting money in real time and waiting to spend the USD account when USD goes up again.

So, long story short, is it possible? Can I “buy” 1000 USD now, and spend in August if it’s interesting for me instead of converting EUR to USD? And if yes, how can I decide to pay a bill with wich currency or account? Will the machine ask for what account I want to use? Should I open 2 accounts with revolut and have to separate cards?

Thanks!

Albert.


#2

Yes you can! (Looks familiar :joy:)
Decision will be done automatically- in US it always be USD. Of course if you’ll have enough money in USD wallet :wink:


#3

Thanks!

But, for example, if I convert now 1000€ to (for example) $1200 and in August the change is like using 1000€ = $1350, how can I tell the card to use the EUR account instead of the USD (already with $1200 in it)?

Albert.


#4

The only way which I know is just to make USD wallet empty (i.e. by sending USD to anybody - wife, girl, friend, mum etc. :wink:)


#5

Thanks!

Could be great to freeze the accounts like we can do with the cards in future :slight_smile:


#7

You can!

Just deactivate the account to make sure that certain accounts will not be charge for card transactions.

Deactivate on top right corner on main screen(accounts) then drag from right to left on the specific account then press deactivate. you can still transfer and receive money to the account.


#8

Awesome!!

Thanks mate!


#9

Alright, apologies for my incorrect information in this case.


#10

I’ve checked the description of deactivation account and looks that you’re right! I was sure that it only hides the account. Good to know that I’ve been mistaken, and I’m sorry for that.


#11

I recently learned this too :smile: :


#12

I am not sure that it is wise to use a pre-paid card as a savings account.


#13

And last, but not least- always deny DCC offer.


#14

It’s not a savings account, it’s just to have the money ready, when the change is good for me :slight_smile: