Incorrect UAH markup- or is it?


Not sure if that’s a feedback or a bug, but my calculation has consistently been showing 2-3% of markup on UAH recently.
It’s usually more than 2% on the weekdays, increasing to almost 3% on the weekends.

That’s not what you guys describe in the FAQ. UAH markup should be around 1%, so lower than for THB, for instance.

I’m looking at the currency rate/converter functionality and using them the same way I do for EUR, USD etc. - these show correct, almost FX rates.
I’m comparing against PLN FX rates, but pretty sure it’ll come up the same for EUR/USD.

Somewhat ironically, the widely-criticized THB rate does come up a lot better against PLN percent-wise.

What’s going on?

PS- Just got back from Ukraine and can only say I’m more and more disappointed with Revolut, but happy to see Alior Kantor work flawlessly and provide awesome rates for the USD card, based on Mastercard.
You guys- unfortunately- stand no chance against Alior Kantor so far… :frowning:


Hmm yes there should only be a slight mark up on the weekends. Have you contacted us on the support chat so we can obtain more details about these transactions and take a look?


Witaj Larysa :slight_smile:

I did not perform any transaction- I was periodically checking for exchange rates in the converter / rates option, both on the weekdays and weekends. Couldn’t get anything better than 2% difference weekdays and 3% difference weekends.

I assume that’s the rate I’d get if I actually made a transaction at a given point, right?

You can probably check for yourself and compare against FX- just divide the higher number (FX) by the lower (Revolut). You will get 1-2% (maximum!) for THB, so lower than declared, but you’ll get insane difference for UAH.

Well anyway- I’m much more better off with MC exchange rates. No weekend markups at all and oh well… more reliable. Sorry. I really am, b/c I’d just love to use Revolut instead.


Unfortunately this is not the case. The rate that applies to card transactions is a different one, and it can only be seen if you make a transaction (or at least attempt it).


WHHHH-AAAAT? You kidding?

So the exchange rate we actually see there in the converter / rate has nothing to do with CARD transactions???
Even for the major currencies? I thought they would- especially that for major currencies, markups and rates normally match what’s there on Forex.

If so- why do we get access to other currency rates at all, if there’s no value in these rates?
So I know we don’t have charting, history etc. but at the same time I thought the rate / converter is there for a reason.


I was also surprised by this after signing up for Revolut, and only after some effort did I manage to get things clarified, to an extent:

What the app shows are mid-market rates (i.e. there is only one for each currency pair). These rates apply to exchanges you do within the app (only available for the 5 supported currencies now), and also to outgoing transfers I think (not sure as I haven’t done any).

Card transactions are converted at an “interbank” bid rate (i.e. one that already includes some markup). Neither current nor historical rates are available to customers. All we know is they are provided to Revolut by Morningstar.

In short, the rate you get for card transactions won’t be as good as the one you see in the app although perhaps the bid/ask spread can be negligible for very liquid currencies.


OK, so the take-home message is that Revolut doesn’t make ANY sense in Poland, when you know how to use Alior Kantor… So sad, and I do mean it.

But to keep stuff to the point- if what you’re saying is true and card rates are usually or at least should be worse than the ones from the converter, why did Larissa wonder about them and mention they should be better?
After all, according to FAQ, I’m expecting 1-2% markup on UAH, and can see 1% point more in the converter.

So hypothetically, would I have seen the card rates worse or better to the ones of the converter?


Yeah, I would expect the transaction (any type of) would get EXACTLY same exchange rate as shown in converter if virtually done in the same second, no matter if its done during week, weekend, liquid or non-liquid currency.

@revofan what about Monzo card comparing to Alior Kantor? I assume they both works on Mastercard exchange rate so they should be the same in reg of currency exchange? Other thing about Monzo is the transaction is not 100% stored during transaction, but it “settle” after 2-3 days and actual exchange rate is different than in the moment of doing transaction. Is this the case in Alior Kantor? Account is not debited instantly with known rate but after few days which is basically a lottery?


@revofan what about Monzo card comparing to Alior Kantor? I assume they both works on Mastercard exchange rate so they should be the same in reg of currency exchange?

With Alior Kantor, you can get 3 cards (and that’s a drawback- not huge, but still three cards instead of one)- they’re absolutely free as long as you make 1 transaction of any type in 6 months after having been issued them. So, practically, free.

You get 1 free ATM withdrawal of any amount per card per month. Subsequent withdrawals of any amount are 9PLN each, deducted from PLN account. So guess what? FLAT RATE + 1st withdrawal free. So much better than Revolut right now, huh?

So- you got EUR, GBP and USD cards. Each of them has its own current account. You also get a PLN account, obviously. No card to it, you just use it for buying/selling currency.

EUR and GBP cards make sense only in EUR and GBP “zones” respectively. If the transaction currency is different than EUR or GBP, you’ll be charged a huuuge commission.

USD card is a different animal; use it all over the world apart from EUR and GBP and the card will use Mastercard rates to convert to USD. This gives you an excellent rate. - you get to buy USD from Kantor directly. Spread is really really low.

Hope you’re still following; So basically, here’s the deal:

  • Want to pay in EUR? Buy EUR and use EUR card. No MC rates involved, you pay directly from your EUR account.
  • Want to pay in GBP? Buy GBP and use the GBP card. Likewise for rates.
  • Want to pay in USD and any other currency? Buy USD and use USD card. For USD, you pay directly, for any other, MC rates apply.

Exchange rates for these currencies are really good, as I said. They are worse on the weekend, but you can buy and keep and it won’t affect your weekend card transactions- unlike Revolut.

This one omits MC rates completely and on the weekend, you are at the mercy of Revolut weekend markups.

OK, I’m done. Hope this was helpful to Polish people out there… Really, Revolut can’t stand the competition here- sadly… :confused: