Money from friend: no dynamic conversion?


#1

Hi,

I split a bill in GBP with my friend.
He received the request, in GBP, but he only had Euros in his account.

He couldn’t accept my request because of this. He had to manually convert the right amount from Euros to GBP, and then accept the request (which then worked).

Couldn’t you just convert on the fly? The same way you do it when we pay in a currency we don’t have?

Thanks


#2

Hey @quentinb :slight_smile:

When you’re spending in a currency you don’t hold, there’s an order (local,largest,remaining) order to decide which balance is used to do the conversion.

I also find this pretty annoying (having to go inside, activate the currency, exchange and then deactivate again), so… do you have any proposal on how should :r: potentially decide which currency is the incoming transfer converted to? :smile:


#3

I don’t :smile:
But here my friend had only Euros (and never had anything else) - which is his local/source currency, so I think the “source” was pretty obvious.
Why not apply the same rules as for payments? :slight_smile:


#4

Hey @quentinb :slight_smile:

I mean, I have an EUR, PLN and USD account, and you send me GBP. Which balance should it go to? :thinking:

EDIT: I didn’t understand the suggestion in full in the first place


#5

well, if I send you GBP, it should just go to your GBP (open it if it doesn’t exist).
My problem is the other way around:

  • you don’t have GBP
  • I request GBP from you
  • you have enough EUR/PLN/USD/whatever to cover the payment

#6

@Juliopp Also, I found in the FAQ in which order they choose from which currency to take money from:
1 The local currency of the merchant/ATM e.g. if you are in Spain, it will deduct funds from your Euro balance.
2 Your base currency - i.e. if you used a UK address to sign-up, your base currency will be GBP.
3 Your largest balance.

They could easily apply the same rule when accepting a request :slight_smile:


#7

Since this is a little bit different from a customer’s point of view, I would implement it differently than a payment: whenever a money request in a currency one does not hold comes in, the app should ask which funds should be used and should show the live rates if one would accept the request.

Payments need to be implemented in a way that they can happen without user interaction in the app, like choosing a certain wallet at a given time. Requests always need interaction, they need to be accepted. It is not an extra step to choose a wallet.

To me it looks like Revolut just did not spend much time perfecting this feature. They focused on other things …