Rate Alerts - how do they really work?

I posted my question a few months ago in


but it went un-noticed, so I am creating a dedicated thread.

I need to understand how alerts work, all the more so as I use also another exchange rate alert system from XE.com which does not seem to work exactly like the Revolut Alert system.

In Revolut, I set last year an alert for 1€ = 19 ZAR. The alert was triggered on 19 March 2020 at 04:13.

The live rate today is 1€ = 18,8 ZAR. If the rate in the future crosses the 19 ZAR exchange point again, will I get an alert?

What confuses me is that the 19 ZAR alert is greyed out in the Revolut app. The app says that the alert was triggered. It lets me think that Revolut treats the Alert once only, then it is archived.

I don’t want to have to re-create the same Alerts all the time. Is there a way to keep a permanent alert, ie when the price point gets reached, I ALWAYS get an alert.

I am aware that there may be some complication when the rate fluctuates around the value, which might trigger several annoying alerts in a very short period of time. However there are other workarounds for this problem that can be programmed, such as to limit the number of alerts per day.

Last question, do alerts work for fluctuations in both directions.
A movement in currency for 1€ from 18.99 ZAR to 19.01 ZAR would trigger the 19ZAR rate alert?

Would a movement in currency for 1€ from 19.01 ZAR to 18.99 ZAR also trigger the 19ZAR rate alert?

3 Likes

No, you have to set it again! At least I have found no way to make it sticky! Very annoying!

1 Like

Yes very annoying. I even had an active alert that did not really push a notification to my iPhone, I find these Alerts not to be reliable unfortunately.