Possibility to choose which account to pay from, put the control in my hands

Hi,

Recently I realized that my basic Euro account is not anymore my basic account. This is due to the fact that my country of origin is not in the Euro region.

As a result, when I’m traveling out of Europe my basic account is charged constantly instead of my Euro or USD accounts. This resulted my local currency account depleted. Evenmore with very bad exchange rates.

Example: I’m in Uganda and hypotheticaly my basic account is HRK. I cannot use my USD nor Euro accounts which are better exchanged. Instead Revolut has decided to pay directly from my HRK account. I cannot deactivate my basic account so it goes until I have no HRK left. Only then USD or Euro will be used.

Therefore, I only have one option: not to keep any money on my basic account. It’s the easiest way but not the most ideal. Especially, when I still would like to keep money there, and use the exchange of Euro or USD to HRK when the rates are preferable to me.

Let’s be clear, I would like to be the one who decides which account to be charged.

Please Revolut allow this feature for the clients. It’s my money so it should be my decision. Even if I would like to spend CZK in Poland, or PLZ in Kenya, or ROM in Russia.

Thank you.

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Isn’t that stated in the T&Cs clearly? Also it is a basic feature of :r: to smoothly convert foreign currency into your base account’s currency. It the EUR has better exchange rates, it probably is an advantage to be EEA member?!

Don’t get me wrong. I understand your point but that’s just not the product they offer.

Edit: What’s the base account? I thought it is £&€ only?!

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It’s coming, though. During the latest event in London, they suggested that they might allow control over the order of accounts used for funding payments that involve FX. No ETA.

(A workaround is to empty the base currency wallet and lock funds away in a vault.)

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:joy: I can already hear the users that like to point out that :r: soon is a little like the Italian domani.

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not even a soon. this will probably not happen x)

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Hi @Laurenz_L

Maybe I wasn’t clear enough. Regardless, I top up always in Euros, and most of my spendings are in Asia and in Africa (non of those currencies are supported) my basic account was set by Revolut to my country of origin’s currency. This is my problem.

As a result when I’m traveling and working in Africa and in Asia instead of spending from my Euro or USD account as I would naturally opt for, because the conversion is always better for these two outside of Europe due to Revolut’s newest upgrade I’m spending from my country of origin’s currency. That’s not OK.

I wish I can be the one who can decide what accounts I prefer to use. At the end it’s about money. And my preference…

That would be really nice.

I’m happy with Revolut most of the cases yet I wish to exercise control over my money and the way how I wish to spend it.

As a workaround, you could move all money from your base currency into a vault temporarily.

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Was just about to say this also, its what I’ve done.

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Thanks. Good idea.

Yet it would be nice if Revolut made the option for the clients to choose.

What if you put those currencies in vault(except USD account) ?

@Big-B I hear you brother! It’s actually totally weird, why the heck can’t we chouse our own spending account?

I wanted to start a new topic regarding this, but since I’m a newbie, I just can’t. But what I can do is c/p the intended text right here, in hopes that someone might hear us!

Here it is:

So basically everything is perfectly explained under this article:

https://www.revolut.com/en-NO/help/exploring-revolut/spending/which-currency-balance-will-be-deducted-for-spending

While I totally agree with A (You should first be deducted the paying currency if account with that currency and sufficient funds available because … common sense)

However, I’m not fully happy with B! The next available option of paying in base currency might not be an optimal one!

Let me give you a perfect example, which is my case here! I live in Norway and therefore NOK is my base currency. I need and have funds on my NOK account as well as my EUR account. If I pay with NOK or EUR it’s perfect, these exact accounts are charged! However, if I pay in any other currencies it deducts from the NOK account, which is due to very poor current NOK -> EUR conversion far from optimal! When for example in Denmark and paying with my card in DKK I want my EUR account to be charged, not the NOK! The only way now to actually force EUR is to transfer all (or enough) of my NOK temporarily to account in some another norwegian bank and transfer it back. You can imagine how far away from practical this is! And there is no option to temporary freeze/block the base (NOK) account for the purpose of forcing EUR. This would be much better but still not a real solution! I was in contact with customer services and got confirmed that this is how it is for now.

What I did, just for testing, was changing the account order, by putting the EUR on the very top, over the base NOK account just to see if this might work, and as expected, NOK was still charged when paying in DKK or any other … However, this might be the very simple, effective and intuitive solution for “fixing” this in some future version. I don’t know if there is a critical mass of users that would like to see this feature in the future updates, but being a software engineer myself, I know that everything is more or less already in place, and all it takes is a few changes in code for doing so, something quite trivial. So I hope you will seriously consider doing so! :slight_smile:

Thank you for the fantastic product and users, if you might benefit from introducing this enchanced flexibility for card (and maybe even bank) payments, please back me up!

Cheers!

Kunjila

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you don’t have to transfer it, you can lock it away in a vault.

+1 on topic. it’s pretty common to work in another country than where you live and with all the different currencies in Europe it can be unfavourable

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Hi, I did that already. Now my basic account has no money. All are in the vault.

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Thanks for sharing your experience here. The more we raise concerns the more chances we’ll have to have it changed.

That’s why it’s important to give feedback so Revolut will know the direction of the development. Unfortunately, this idea to lock the bade currency isn’t good.

Also I’ve just found out that my basic account was used for paying for my monthly fees (I’m on the metal plan). Which is again absurd. I top-up always in Euros. So I expect the advertised fee to be paid in Euros rather than a converted amount to the currency of my basic account since the exchange rate is quite volatile.

I kindly ask Revolut to change it back to Euros as it was done for several months everyone I joined Revolut and was happy with it. Thank you.

PS: I understand Revolut wishes to reach out for clients in various countries. That’s the reason of also added several language options. But to lock the language of the app to the country’s of origin is not a good idea. For new clients who don’t speak English or prefer their national language it might be beneficial. However let’s not forget those who got used to English already and would prefer to decide on that too. I just added this as the concept seems the same. “Let’s please the masses.” Yet sometimes by doing so Revolut might potentially lose those clients who were happy for long time but due to the newer policy of “quantity before quality” might affect their approach and would decide to close their Revolut account and move on to other competitors offering similar products.

It’s one thing to gain more clients but it’s equally important to retain the old ones. That’s the success of growth.

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Yes, just figured that out, and I saw it mentioned here in the topic.

Nice workaround in any case, but exactly that, a workaround. Let’s hope for an actual solution soon! :slight_smile:

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I agree with the original post I would VERY MUCH like to see the feature implemented that you can pick from which account deductions would go if you do not have a currency. But I understand that the company is relatively new and it might take some time to implement it. However I would say this is an important feature to give people the flexibility that Revolut is all about!

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This is something I’m yet to try but just to get it straight in my head how this works.

I live in the UK and regularly travel to Portugal.

If I top up my Euro account the payment will still be taken from my UK account if there are enough funds in the UK account to cover the transaction. Meaning I could possibly be getting a worse exchange rate (or better) compared to the rate I may have got when switching money to the Euro account?

If there are only enough funds in my euro account it will default to taking payment from there instead?

Thanks
Jamie

Looks like I’m still considered to be a newbie, so every post I publish needs to be approved by moderator first, this can take up to a day, making a fluid discussion imposible. Hope this absurd and real PITA obstruction will be raised soon so I can actually reply in real-time …

No! If there are sufficient funds available, a payment is debited from that walled directly without exchange.