Revolut converts every transaction to USD. Frustrating and costing me money.


#1

I have a Revolut card that I have loaded with over £1000 which I then converted to MAD as I will be spending some time in Morocco.
However, I have used the card in 7 different retailers in Morocco and each time the Revolut card has changed the transaction from MAD to USD.
I have and have never had nor will I ever want transactions in USD. I have no USD in my card, but Revolut charged me 725 MAD for a 699 MAD transaction in Morocco made in MAD because they have converted it to USD.
Has anybody else had the problem. Revolut keep saying they can only process the transaction in the currency that the merchant authorises, but this is rubbish and I am fed up of hearing it.
I have used SEVEN different Merchants and each time Revolut converts the transaction to USD and then blames the merchant.
I have another MasterCard that I have used in the same merchants and every transaction processed via Santander in in MAD.
Revolut just keep trotting out the same rubbish saying it’s the merchant.
Obviously not every merchant that processes a transaction via Revolut tells me that the transaction is in MAD and then puts it through as USD, but that it what Revolut support keep telling me. Help please!
Any suggestions? I have over £1000 worth of MAD that I just cannot use as Revolut convert all transactions to USD and USD is very weak at the moment.


#2

You can search this forum, this has been discussed here before :wink:

When I remember correctly, the bottom line is that this is due to Mastercard’s way of handling MAD payments. They show up as USD (pending), but once processed (completed), they revert backt to MAD.


#3

Sorry, but it’s nothing to do with MasterCard as I have a Santander MasterCard and all transactions show up as MAD.
I have 16,000 MAD loaded on my card.
Revolut are supposed to use this money first, not convert MAD to USD at a very poor rate losing me 3-5% on each transaction.
USD should not come into it at all.


#4

Have you searched this forum?

The other thread has reports of users seeing the exact same thing with a N26 Mastercard for example. Users with the Revolut Visa also do not see this. The tread also explains that only authorization is in USD, final settlement reverts back to MAD eventually. Therefore, no loss due to exchanges.

(Has your Santander card live notifications that show you all details of authorizations? So do you know what is happening behind the scenes before a payment shows up on your credit card bill?)


#5

I know that I can check my Santander card 3 hrs later and the transaction is made in MAD and converted to GBP at the bank rate.
I also know that when I only have MAD on my card, Revolut takes an extra 3-5 % because they make the transaction in USD. 3 days later I have had the money refunded, but why does Revolut do this? Their support team say it’s because the merchant processes the transaction in USD which is rubbish as this error has now occured with at least 7 different Merchants. I am also told that Revolut can only process a transaction in the currency agreed with the Merchant and therefore, by their own admission they must be breaking the law.
Why should I have to wait up to 10 days for Revolut to give me back the additional money they have taken from me? Plus, the onus is on me to check/complain/take screen shots and photos of receipts to try to keep a track on how much Revolut owe me.
It’s just not right…is it?


#6

My guess is that this is a payment processing problem, because other Mastercards from other banks are affected (like other users have reported in the other thread). Also, users that have a Revolut Visa card seem not to be affected. So my naive conclusion is that the problem is located somewhere outside of Revolut’s allocation of payments to a certain wallet.


#7

Deactivate the USD balance and keep the £ balance empty. This will force all transactions to be taken from your MAD balance and will be correctly settled in MAD on settlement date.


#8

… or your respective base currency.


#9

I do not have a USD account to empty or deactivate. I have no £ on the card, only over 16,000 MAD.
Revolut still processes all my Moroccan transactions in USD.
Nobody seems able to help with this issue.
A 699 MAD transaction is converted to USD and costs 725 MAD even though I have over 16,000 MAD in the card.
This has happened with 7 different Merchants.


#10

Hey @doug2uk :slight_smile:

Check this:


#11

Wait a few days and it will be back to 699 MAD.


#12

Maybe it will be credited back 3, 5, 7 or 10 days later. But as I usually spend 5000 MAD per month, Revolut could take an extra 250 MAD before they sort it and put the money back in my account.
Would you agree to pay an extra 5% on all purchases if your credit card company or bank agreed to reimburse you 7 days later?
Would that even be legal?


#13

This is not an agreement but a technical process. You’re not “paying extra”. You’re paying the amount stated on a settled payment. It’s not strange (even with a Santander card) for the amount held to be finally smaller or higher than that of the final transaction. And, yes, it’s most probably legal.

However, 250 MAD monthly is a maximum retention of €5 in a week’s period. This looks quite bearable.


#14

Use Revolut Visa next time and you won’t have this problem.


#15

I used both my Croatian MasterCard and Revolut MasterCard for spending in Morocco last year, opted to be charged in MAD both times but the transaction was nonetheless authorized in USD and got reverted to MAD at the time of the settlement.

When I used my Revolut MasterCard for ATM withdrawals in Morocco, the transaction was immediately authorized and settled in MAD.

I would say that is the way Mastercard processes card payments in Morocco. Some people suggest using a Revolut Visa card would solve this problem, have any of you guys tried this?


#16

Have the same issue but with different currency pair. Merchant bills me in local citrency - MOP, Revolut charges my Revolut account on GBP, converts in EUR; while I expect directly beeing charged in EUR!


#17

I did :slight_smile:


#18

Sorry, but how do I get a Revolut VISA card? I was not given an option, they sent a MasterCard.


#19

Hey @Doug2uk :slight_smile:

There’s currently no option to choose one over the other. You will get either a MC or a Visa, but you can’t choose which one as of now :wink: