We’ve got some good news for all our users in Spain. We’ll soon start issuing Spanish cards if you are a Spanish resident and you order your card there. What does it mean for you?
Some Spanish banks (e.g. Santander, Sabadell, etc.) began to charge ATM withdrawal fees on foreign-issued cards last summer (these are on top of the fees they typically charge and those we take care of and pay for on our end). From what we understand, only a handful of banks do this at present but as we strive to provide the best possible service in Spain, we thought it was important to fix this. Given that cards will now be issued in Spain, you will be sure not to be charged these sneaky fees ever again.
When paying with your Revolut card, some merchants (depending the bank issuing the POS card terminal) will offer you the possibility of paying in local currency (EUR) or in GBP - even if you don’t have a balance in GBP, just because their terminals pick up that it’s a foreign-issued card. This does not happen often and, at present, if you select local currency on the terminal (in this case EUR) you’re sure not to get charged any extra fees. But sometimes you’re in a rush or the merchant just presses the buttons quickly without you noticing. So you may get charged in GBP and the conversion happens from your EUR balance at the processing bank’s exchange rate (which is not, by any means, as favourable as Revolut’s).
We’re very committed to continuing to improve our users’ experience in Spain and will be introducing more fixes, new features and other cool stuff soon. Stay tuned!