New Bank Transfer Fees


#1

Hey there. Would just like to share some feedback with the Revolut team with regards to new fees being implemented into the platform.

I’ve been successfully sending SWIFT transfers on the platform in EUR fee free since I’ve been using the app until today where for the first time Revolut are now charing to send my app to the same bank account I’ve been sending to since I started using Revolut.

Previously where a transfer was free Revolut is now charging 11% of the total funds to be sent, disclosing this prior to sending which I am happy they did, however this makes the app completely uncompetitive versus the current competition in the market.

A transfer of 250 would cost 27 to send where as comparatively with regular high street banks the most expensive cost is 25 with santander and that’s with rather exceptional circumstance. Even they have fees starting at 15. Cheapest is only 4.

I’ve been sharing Revolut with my friends, so far 4 have downloaded and been using it rather happily due to fee free transfers, which is something still promoted in app and on the website yet it’s not accurate anymore and has made the app for us redundant especially as we began to expore other features.

If fees for transfer are neccessary that’s understandable but they should be fixed like every other high street bank to at least be competitive otherwise what’s the point.


#2

Perhaps you do something wrong?
If I do a banktransfer to another EU IBAN it is completely free of charge


#3

Was this a transfer from/to Australia or Canada?


#4

Do you know if there’s a link to a page that discusses the fees you’re talking about, @JGore88?

On the Pricing page, it simply says Free bank transfers in 25 currencies.

The FAQ page confirms the same.

This is definitely news to me.