Silly Question...

Hi I have a silly question, that must be really obvious to other Revolut users.

The Exchange function, where you convert a lump sum -what is the purpose/advantage of this? When you top up the card and use it abroad, it automatically converts anyway so what is the advantage of converting the currency beforehand? Is there a difference?

Thank you.

Maria

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Hey Maria

At the weekend there is a 0,5% markup added to the exchange rate because the Forex markets are closed. In this case it can be an advantage to exchange beforehand. Especially if you already have plans to spend money.

It can also make sense if the exchange rate is unusually low and you have plans to use that currency in the future.

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Hi Maria
As Henrik says it is gives you the option to fix the exchange rate if you want to. For example if you were taking a long holiday abroad and wanted to take advantage of what you considered to be a very favourable exchange rate at the time of planning it you have the option to fix it then.

Ah I see! That makes perfect sense!

Thank you so much. Il go and exchange some money now…

Dont forget - its basically a gamble on the rate - it may go the other way!

So, it’s this weekend fee still being applied?

I have tried to find official info about it in the “Help centre”, but I have found nothing.

https://www.revolut.com/help/getting-started/topping-up/exchange-rate-for-my-card-payment-is-wrong

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