This may not impact U.K. Users who’s home currency is sterling, but newer merchant terminals in India take the funds in rupees but if you are a Euro user like me, it converts first to sterling and then the sterling converts to taking funds from your euro balance. This means you pay two currency charges which on a transaction today that should have cost me €105 it actually cost me €112, which is worse then any credit card transaction fee. Even if the merchant puts it through as rupees you end up having to contact Revolut and asking them to process a refund that takes up to 46 days and even then you won’t remember what the rate should have been and if your getting sorted or not. This is a big issue and needs looking at further FBI Revolut
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If the merchant didn’t notify you about the conversion then we could raise a chargeback after the payment completed.
Please note that a chargeback procedure can take up to 45 days. This is a MasterCard policy to give the merchant who took your funds time to contest the chargeback.
I am new to here and I am sounding stupid! Simple query: I receive USD 4000 from my clients and I have an Indian savings account. Want to get rid of PayPal. Can Revolut help?
Are you planning to use Revolut for Business?
Ahmm…you can say yes.