Hello,
I will go in Seychelles in few days.
I check the exchange rate in the app and its very bad.
Revolut : 1€ for ~15 SCR.
The market : 1€ for ~16 SCR
This is more than 6% fee!
Can you explain why you charge so much fee?
Weekend mark-up possibly?
You’re best off changing cash with local residents on the black market. You’ll get 50% to 100% more SCR for your money. Don’t change on the street, but instead with employees or owners of local businesses, e.g. hotel workers, as they won’t give you fake SCR banknotes.
@capital : no, i check on week days and it’s the same
@NFH : thanks for the tip, but i still looking for a Revolut explain
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Are you viewing the rate correctly in the app? Please reach out to us on support chat so we can see the specific transaction and obtain further details!
Hello,
After some chat with support, now i know why exchange rate is so poor for SCR with Revolut.
They use this rate https://www.investing.com/currencies/eur-scr
Right now Bid/Ask: 14.9850 / 16.9850
Revolut use the Bid rate.
For many currency the difference between Bid and Ask is very small.
For SCR is amazing!
For exemple Mastercard look like to use the mid range rate, so around 16 SCR right now.
If you go to Seychelles, you must use a bank than use Mastercard (or Visa) rate instead of your Revolut Card, you will save a lot of money (be careful about exchange fee of your bank, but in this case Revolut is more than 6%).
Regards
