I just transferred Rands to a South African account. R100 (about £5) less than I sent arrived in South Africa, even after allowing for Revolut’s charges and before the fees of the bank on the South African side.
Revolut, can you confirm if you are using a different bank to route payments to South Africa, and their charging structure? This really feels like I’m paying for something that no-one told me about. Transparency is very important if I’m going to consider different options to send money. Therefore answers that include words like “maybe” don’t work.
To be clear, I did the currency conversion in Revolut. I sent Rands to South Africa so there should be no currency conversion. I used the correct number and BIC for the South African bank account.