how to use the card in south america?


#1

Hitting Argentina, Chile, Bolivia, Peru, Ecuador & Colombia. Has anyone any experience or tips with the card in these countries.
I believe only certain banks are free ATM transactions. Is this true?


#2

Payments in Panama work great.
Tried ATM at Banco Popular and wanted to charge me US$ 5 fixed amount, so I refused…
Will try other ATM’s shortly


#3

I think you get 2 freebie ATM transaction a month. I’ve been paying local bank fees in Argentina, Chile, Bolivia, Peru so far. Not much and best rate going so it still gets a thumbs up.


#4

Hello, I did some payments in Argentina with no fees. But I’ve been charged in a ATM Banco se la Nacion about 4%.


#5

So we are travelling to Chile and Argentina shortly and I am new to Revolut. I see that I cannot load my card with Chilean or Argentinian Pesos via the exchange facility on the App, but is it still cheaper to use the Revolut card than traditional Mastercard? I would be very grateful for any hints or tips on this (I understand I can withdraw up to £200 worth of local currency from certain ATMs free of charge).
many thanks


#6

That depends on three factors:

  • Whether or not your MasterCard charges a fee for transactions in a different currency from the billing currency.
  • Whether the market rate moves in your favour in the day or two following your transaction, given that Revolut uses a live market rate, whereas other cards use a daily MasterCard rate a day or two later.
  • Whether you transact at the weekend. As there’s no market rate at the weekend, Revolut uses Friday’s closing rate plus a markup of 1% to protect itself against movement in its disfavour before Monday morning.