I’m using Revolut for a while and was very happy with it until today. After making a few purchases with my Revolut Visa, I noticed that the exchange rate between EUR and my local currency BGN was just terrible. There is a currency board between EUR and BGN with a fixed rate of 1.9558. Until now Revolut’s rate was very close to this, however today this rate was 1.92, which is in fact the worst rate I have ever seen. I read on forums that Revolut apply 0.5-1% fee during weekends when Forex markets are close to protect against losses. However, first of all the difference between 1.95 and 1.92 is more than 1% and second this is absolutely unnecesary, because the rate of 1.9558 is fixed and it will never change.
ECB’s currency rate graph looks like a dead man’s pulse:
What bugs me the most here is that Revolut is being advertised as having the best possible rates, this is written on the main page, however this is actually the worst rate I’ve seen. I can basically get a better rate anywhere, even PayPal’s rate is better.