This week I did a bank transfer from my Italian bank account to a friend’s IBAN in his Revolut account in UK.
I transferred 2650 euros into his account and he received £2352. If I take into consideration the exchange rate at the day he received the money he should have received £2408 instead.
I know that my bank does not charge me to transfer money up to 50,000 euro.
Why did he receive £56 less? Does Revolut keep any commission on bank transfers?
If anyone knows please let me know.
Thanks in advance.