How to set base currency?


#1

I have both EUR and GBP in my account, and when travelling i want GBP account to be used. However, this is defaulted to EUR now. Is there a way to change this?
Without this, there’s really no point in using revolut i i cant use GBp


Buy currency before to take advantage of higher rate
#2

traveling where?
revolut tends to use the account where you have enough money to pay for that transaction.
also it defaults to your primary currency from the country you registered.


#3

Actually, travel is irrelevant here - i want to change my primary/base currency. Is this possible?


#4

contact support via chat or @AndreasK via PM
you will need to show proof of address


#5

Ok, thanks, will do. Not sure though what purpose proof of address serves - isnt that checked when the card is issued already? This could be a simple operation from the app


#6

if you want to change your country currency base, you will need to prove that’s your address.
just that


#7

Thats what Rita told as well - Revolut cant be configured to spend other currency by default unless you live in that country. What purpose does this rule serve? Some of my income is in GBP (EU single market), and i’d like to spend GBP, not eur first. I’d like to be able to use revolut the way i want.


#8

then convert all your money into pounds.
problem fixed


#9

Its really not. Because of changing exchange rates, i would lose money by keeping everything in GBP and changing on demand only. Just a few days ago GBP/EUR ratio was 1.15, now its closer to 1.17.
It would be easier to transfer converted euros out of revolut and use 2 cards instead.

The easiest solution would be to alloe to set which currency is primary. E.g. i need to pay in zloty, should EUR or GBP used for this transaction. A seting like this would solve issue.


#10

i dont get your problem…
you have 3 currency wallets: $ £ €

you can have money on either or all, you can transfer as much as you like between each, and you can use @revolut real time fx to pay in any currency.

it would seem you are over complicating the all matter.


#11

The last statement is not really true (“nd you can use @revolut real time fx to pay in any currency”). E.g. make a purchase in swedish krone/SEK, and revolut will deduct EUR instead of GBK from my account.


#12

@Darkcloud I have a similar issue. I used to live in a Eurozone country, but now I live in the UK. Even though I’ve updated my address in the app, my base currency is still set to EUR. I have contacted customer support twice during the last year and in both cases they told me that’s not possible. They actually suggested that I delete my account and create a new one (and pay for a new card) if I wanted to switch to GBP! Please share if you manage to find a solution.


#13

Hello @Darkcloud,

Unfortunately, it’s not possible to change the base currency of an account. Are you topping up with GBP or Euro?

Best,

Andreas K.


Digital nomad - many SIMs
#14

@AndreasK i top up in GBP.

Here’s another example to illustrate the issue. It is a different case, but nevertheless is in same area. Say i use my card to pay 200 THB bill. My revolut card has zero EUR (base currency), and then 100 of USD and 100 of GBP. Question: what currency will be deducted from my account, USD or GBP?

This is non-transparent now, i have no clue how revolut decides which account (GBP/USD) to use.


#15

Your Revolut account can hold a balance in EUR, GBP and USD. The card selects which balance to use in the following order:

The local currency of the merchant/ATM e.g. if you are in the U.K. it will use GBP, your base currency (for a UK resident this would be GBP, if you are within the Eurozone this will be EUR and anywhere else will be USD).

You need to have sufficient funds in one single balance in order to make a transaction. If you don’t have enough funds in the balance of the local currency, it will default to your next largest balance and so on.


#16

I wonder why Revolut is not allowed / able / willing to solve that issue.
Technically it is an easy one.


#17

What is the reason the “base currency” can not be set/changed?


#18

Hi

Why would like to change your base currency?


#19

Hello

There are several reasons:

  • when a currency has a good exchange rate compared to when the currency was bought. (e.g. I want to draw from my GBP account when spending money in Sri Lanka because the rate of the pound is higher than when I bought it)
  • when your income or savings do not correspond with the country’s currency you are living and spending in (e.g. pension in Poland, living in Thailand; studying in Sweden, scholarship in CHF; etc.)

With the introduction of additional base currencies (thanks for that!) the number of occasions when the selection of a base currency would be advantageous grow. Unfortunately there is no solution, yet.


#20

Thank you. Will share it with the team for internal discussion.