How does revolut decide which currency to use?


#1

2 slightly similar questions

  1. If I have EUR/GBP and USD on my revolut card and am traveling in Europe, and I’m using the card to pay for something, I assume revolut uses up the euros in the account first but then which currency?

  2. Same question but if i’m traveling in Asia what is the order of preference for converting from my revolut eur, gbp, usd currencies into local currency?

Thanks so much


#2

a third question comes to mind

  1. If I’m traveling in Europe do people recommend moving money from GBP and USD on friday into Euros to cover weekend expenses to get around the 0.5% exchange rate fee Revolut charges at weekends?

#3

Here we go …

Your assumption is right, Revolut uses of course the wallet in the local currency first. Next your “base currency”.

But: Revolut does not split payments between wallets. It always uses a wallet that has sufficient funds for a specific payment. An example:

Your wallets:
EUR: 80
GBP: 100
USD: 1000

When you pay 90 EUR, it is going to be deducted from the GBP wallet. Or when you’re paying 300 EUR, it is going to be deducted from the USD wallet.

3rd question: yes, exchanging beforehand is indeed a good option to avoid the weekend markup and to “lock in” a rate.


#4

Hello!

  1. If you travel to Europe to the country which uses EUR as its currency, then first the EUR balance will be used. When there’s no EUR left, it will use your base account currency. If you’re going to a European country not using EUR currency, your base currency will be used first - please refer to the FAQ.

  2. That depends on your base account currency. Please refer to the FAQ.

  3. Yes, good point.

It would be a good idea to read the FAQ on the website, as it explains all of these.


#5

Good point. I am going to change my post.


#6

Thanks all, very helpful to know