Set the default currency if spending an unavailable currency

Ideas & Feedback
1

With the introduction of more currency accounts I believe that you should rethink the concept from which account the money spent is deducted.
If the currency spent corresponds with an available currency it is an easy one and can stay as it is.
If the currency is not available I think it is not a good idea to take the money from the account with the highest balance but that the “default currency” should be taken. For most people this will be the currency the get paid with. In my case I would set the default currency to CHF (or EUR).
If the default account is empty, then the concept could be the same as today: the money is taken from the account with the highest balance.
Thanks for considering this simple improvement!

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2

Hey @Bauli, I don’t think the account with the highest balance is selected. I think the order is like this:

1st: local currency
2nd: base currency
3rd: other currencies

The base currency for UK customers is GBP, for most other customers EUR. That is how I understand the related FAQ post.

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3

I found that explanation in a post:

Your Revolut account can hold a balance in EUR, GBP and USD. The card selects which balance to use in the following order:

The local currency of the merchant/ATM e.g. if you are in the U.K. it will use GBP,
your base currency (for a UK resident this would be GBP, if you are within the Eurozone this will be EUR and anywhere else will be USD).
You need to have sufficient funds in one single balance in order to make a transaction. If you don’t have enough funds in the balance of the local currency, it will default to your next largest balance and so on.

Why is it not possible to set the base currency? The existing system is not adequate with 5 supported currencies and with more to come the situation will not improve.
Please consider a change!

4

Hey @Bauli, I agree, it would be an improvement if one could set a base currency.

I just wanted to point out that the fallback (2nd currency in the order) would not be the one with the highest amount but a customer’s base currency, depending on a customer’s residency.

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