Manual Auto Exchange rate cannot be input for large rate differences (eg. >100:1)

Right now auto exchange can’t really be used for exchanges where the target worth is many hundred times more than the source, since there is not enough numerical digits to input.

Say, for example, the exchange rate EUR→HUF is between 313 and 327, where the reverse rates would result 0.003105 and 0.003067.

First, it is almost impossible to get that info from :r: app since it shows “exchange rate between 0.0031 and 0.0031, which is not really informative.

Second, the input field can’t accept more than 4 fractional digits, so… obviosuly not pretty useful.

As UI wise I would say the easiest and natural would be for me to input HUF and input EUR and the app could calculate the exchange rate, it may offer a verification step (button) but otherwise it’s not really needed, and it could internally calculate it to precise digits.

The most extreme example (not supported by :r: but for the sake of possibilities and UI planning) and thus the required precision in our current world) would be to exchange from Iranian Rial (IRR) to Kuwaiti Dinar (KWD) which has 138575:1 exchange rate so 0.00000721627 is the current rate. (Visibly entering rates in so small fractions is not easy for humans, but that’s nother philosophical question: whether xchange rate input shall be enabled in reverse notation or not.)

(A more realistic example is HUF→GBP where the rate is between 0.00268096 and 0.00279329 for the last month, which is 1/358 to 1/373.)

Would be nice if the app UI would help a bit more regarding such exchanges. Thanks!

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@grinapo, I have reported the same issue at:

Revolut doesn’t support KWD or IRR as balance currencies. That’s why I used the example of GBP/HUF, which is Revolut’s strongest supported currency against its weakest supported currency.

Can I be curious and ask how did you determine the weakest supported currency? :slight_smile: Have you created all accounts, or all rate displays?

Is HUF really the weakest supported one? That’s amazing. :grin:

I am an FX consultant and former FX trader. I can look at any list of widely-traded currencies and immediately know which ones are the strongest and weakest. You can see Revolut’s list of supported balance currencies in the app.

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Judging by your original bug report it seems FX traders have lot of sense. :wink:

I :slight_smile: can’t :slight_smile: see why :slight_smile: they don’t use fractions. :smile:

Still the IRR-KWD fraction looks majestic, don’t you think? Wouldn’t fit even in the number of digits you mentioned.

Best wishes from :hungary:

An inverted IRR/KWD rate would still follow the same rule of having 6 significant figures with an even number of decimal places. So the rate you quoted would comply with this.

Thank you for your feedback. The team is currently working on a fix. I will keep you posted.

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Hello,
A bit new to the community although I have been using Revolut for around a year.

This post looked like the closest one related to something I was curious about, (I wanted to write a new post but not sure how its done)

My issue is with the exchange (bearing in mind I think the bank and app have been all positive for me in the main), I have been using the GBP EUR exchange facility and over the last year I have noticed that the exchange I have been getting has changed from exactly the rate at which the app itself shows, to now where I exchange and it regularly in the case of GBP as an example adds at least 3 pips on to the rate and even 4 pips, I realise it fluctuates every second but I can see this difference because as soon as I make the exchange I check the apps own rate, and its always adding.

Is this something you have found yourselves ?

While I have been very happy with the company and the service I thought I would want to bring it up for not wanting this to be a creeping change with the bank and app as one of its biggest appeals and the way it advertises is its offering of interbank rates.

Yesterday I went to a cashier in Brighton, and I wanted to get 10 £, but at the end of the transaction I didn’t want to take money out of the ATM, and I selected the cancellation button, then I checked my statement and saw that the ATM and I took off -10£ try to talk he said he doesn’t take care of the ATM, I need to know what happened and how they can fix it. Today when I opened the app tells me that I need to check a statement , I do not know what to do help ! He won’t let me see my account.

I am holding my breath!