[SOLVED] Moneycorp ATM withdrawal at Stansted airport

All so, I have been told by revolut that some ATMs can just decline your request and just carry on like a with conversion without saying or offering you any other facts, it is how the ATM is programmed, to decline any without conversion requests and to maximize larger profit’s, I have all the time in the world, I will follow this to as far as I can go, FCA, ombudsman, MasterCard, TV programs, the moneycorp ATM took my money, revolut is going to do a chargeback, if that don’t work , then I will find other ways to complain , so in reality, be careful where you withdraw cash,

May be so, I ask for euros, the ATM asked revolut to be paid in pounds so there was no sterling in my account so revolut took my euros out of the euros account, , I can see what has happened, it said in pounds that it was £223 something, but taken was €256.69. , but as there was no sterling, transaction should had been cancelled by revolut, that’s how I see it,

Thats not how it works, the very idea of Revolut is to accept any currency and convert it at the official rate to what funds you have. That is not the problem though. The problem is that Moneycorp managed to charge 56 euro in some way and it would be interesting to know how that happened. Without more information it is unfortunately impossible to say.

What you can do is check what the currency the transaction lists in the application. Can you post a screenshot of it?

How do I do a screen shot

Are you on iOS or Android?

Android how do I do it on Android

It might depend on the Android version and the manufacturer but sometimes long-pressing the off button displays a popup dialog where you can take a screenshot.

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Can not find where to upload photo , this is to confusing for me

Loveablebuilder sent me a copy of the receipts and they do show a GBP/EUR rate of 0.8957 instead of 1.16.

Apart from being an insanely “unfavourable” rate (basically switching the values of the two currencies) it does seem he was charged in GBP, as it does refer to GBP 223 being the transaction amount.

My guess at this point is that - given the the UK does not use euro - a euro withdrawal in the UK is always converted to sterling (being the default currency) and only for that sterling withdrawal one gets the option to have it converted to euro or have it charged in the original currency (which is what Loveablebuilder chose and which was properly applied).

The problem seems to originate from the seemingly mandatory first conversion to sterling at that insane exchange rate.

Hi I did not chose to do this, what I done is without conversion, which I have done loads of times at 3 different airports, and had no problem what so ever getting euros, they had a euro button on the ATM, then when you press without conversion, it should not convert my request

Three different airports in the UK?

Yes Gatwick, Luton and another ATM at Stansted, have have no problem what so ever, but if you read revolut what to do , money exchanged like traveled will convert no matter what request you ask

Then it might be a Moneycorp thing to convert euro withdrawals forcibly into the local currency and only then to ask you if you want to have this sterling withdrawal converted into your local currency or - alternatively - being charged in sterling to your account. You chose the latter and so they did, but only after the first conversion already took place.

This is just speculation at this point but seems to me the most likely thing that happened.

It is not a Revolut issue though. That is solely on Moneycorp.

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As I have stated, I choses without conversion, ATM them said processing request, not at any time did it give me opion to cancel, it just done the rest it’s self, I should of had the right to cancel, but was NEVER given the chance to do so, moneycorp, revolut , who is to blame, I followed everythink to the letter which revolut says to do when with drawing cash from atm

I am not saying it was your fault. Again, without details it is hard to impossible to say what actually happened and all I wrote was mere speculation, even if it is the most likely explanation.

Judging from what we (believe to) know so far I’d say your point for a complaint should be Moneycorp as it was supposedly them who converted to sterling without your consent. Revolut simply received a withdrawal of GBP 223 and correctly converted that to EUR 256.

You know, all I done was go to ATM to get cash , as I have said before, I can not do any more, but if a ATM can do this, how many other people have had the same trouble, go on trustpilot , they are others in the same boat, one person had £80 taken for a £400 withdrawal, but it all stinks, been taken for a mug, that’s how I see it

I understand the issue but nobody will be able to help here. Moneycorp is the right contact to explain such a ludicrious exchange rate. And if they refuse assistance you will need to take this further as you outlined earlier.

I’d really love to have an explanation for the exchange rate though.

The receipt shows a GBP/EUR rate of 0.8957 (when the interbank rate was actually 1.14726 at the time of the transaction) which would make the euro a stronger currency than sterling - they might already be in anticipation of the UK leaving the EU :wink:

EUR 200 would have been at that point GBP 174. With an unfavourable exchange rate maybe 180. 190 tops. Never 223 though.

The only remote (non-defrauding) explanation I could have is a technical glitch and they swapped exchange rates as the EUR/GBP exchange rate actually was 0.87164 and by that quite close to what they printed - GBP 200 were in fact EUR 229.

I have found how they done it, I enter for euros with out conversion, they decline my request and ask revolut for £223 plus , revolut gave them £223 and then moneycorp done they exchange rate on the £223 which worked out at 0.87 = €256 plus euros, so they cause this by there greed , does that sound rigth
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That is precisely what I wrote earlier. Who is “they” though?