Hi. I am a new customer with a big doubt. I am traveling to South Africa. In order to do ATM withdrawals, would it be better to exchange my EUR first to the local currency (within Revolut) or go directly to the ATM there to obtain the local currency ? I am sorry if the question was posted before. Thank you
Hi @rvarela! It’s exactly the same. So you can do without exchanging your Euros, just make sure to withdraw using the local currency when you’re in South Africa!
Only exception: week-end. During week-ends, Revolut takes a fee (I think 0.5%, but check in the FAQ).
To be on the safe side, I would exchange currency before going. Plus, depending on how much time you have left before your trip, I would watch how the ZAR is doing and maybe exchange the money while it’s cheaper.
You could for example define a price alert in the app
Why is it safer to exchange currency before going?
Also, how does one tell that a particular exchange rate is good, in the sense of being better than it will be tomorrow or next week?
Thanks Michael for your answer and the useful tip.
Thank you! I checked the FAQ and i depends on the region, form nothing to 1%.
I believe he thinks it is “safer" in the sense you will be able to have money available during holidays or weekends (not to expend more in the exchange during those days). Also you could analyse the historic trend and choose a good rate based on that, if you are inclined to do that.
Yes that’s what I meant.