Hidden commission on currency exchange?


At some point last Dec I noticed that the currency rate given as the current “market rate” is not quite the same as the Interbank rate. It even differs from the in-app chart. Like right now, for example, GBP/EUR exchange rate is 1.1976577 according to 1 GBP to EUR - British Pounds to Euros Exchange Rate and the in-app chart, but when you actually try to do the exchange the rate offered is 1.1973.

The difference seems to be consistent, it’s a normal working day and I’m not over the monthly exchange limit.

Does anyone have a similar experience? It would also be nice to hear from Revolut. The website still claims there are no mark-ups (What foreign exchange rate will I get? | Revolut Help Centre | Revolut)


You want to buy or to sell GBP? Because it is a difference between them.
I made a test in Revolut app:
If I buy now in Revolut 100 GPB, I will pay 119.97 euro (exchange rate is 1.1997)
If I sell now in Revolut 100 GPB, I will receive 119.86 euro (exchange rate is 1.1986).

My understanding of Interbank rate is that there should be no spread between buy and sell prices.
But even if I’m wrong, I’m comparing Interbank rate for selling GBP (on xe.com and on Revolut chart which seems to agree with xe.com) with the actual price offered by Revolut for the same operation, and there is a difference (small, but consistent). I don’t think it was there before last Dec.
They claim to offer Interbank exchange rates, but it appears not to be the case now.

I have not used Revolut in a while due to covid crises etc. About 2 yrs back I was a big fan of the company and it’s service.
However after my experience today I will close the account.
It all started with me wanting to change some money from GBP into EUR during the day and not on a weekend. And you are right, it is not the normal interbanking fx level anymore like it used to be. Revolut seems to make some extra money now apart from the official charges they charge above 1000gbp and on weekends. But another story made me really angry. My transfer seemed to have not worked due to - the app said internet connectivity issues - and I tried again. However suddenly the transfer appeared twice - once with the additional charges of 0.5%. I instantly contacted Revolut and there was absolutely no help - even the fix went in Revolut’s favor.
This is not a partner I want to bank with in future. I am closing my account.
There are much cheaper and better ways meanwhile to transfer money and to bank as with Revolut.

i bought yesterday some russian currencies Roubles…but the amount for 200 euros was of 21000 in place of 27000…can you tell me Why?