Too high exchange rate charged


Hi all

why is the exchange rate of Botswana pula different in Revolut than online (XE). Revolut 1 euro = 11.76 Botswana pula and XE 1 euro = 11.93 Botswana




XE is not exactly FX.

On XE for Filipino Peso is 1€ P 62.05 and in Revolut is 61.86
Google is 62.02
TransferWise 62.07
My Bank is 60.83



62.06 now for PHP

Seems there’s a small delay :slight_smile:


Hi there.

The reason why you feel like you are getting extra percentage points charged is because in some cases (usually rare cases) the difference between the mid-market rate (as shown on XE) and the interbank bid rate can be slightly larger than expected.

What people see online is the mid-market rate, i.e. the average between the bid and offer rate. This is because when you go to search up a currency pair the website doesn’t know whether you’re looking to buy or sell that currency so it just gives the middle.
These interbank bid rates are usually quite hard to find online as they are mainly used by the largest mutual and hedge funds in the world as well as large multinational corporations who have millions (if not billions) of dollars. But Revolut is able to pass on this rate to you with no markup except for what is stated on our FAQs.


But wouldn’t it be simpler to use the mid market rate? It seems to be the widely available rate and used by other services.


I’ve never seen anyone exchange at the mid market rates, they’d lose money! Maybe the MasterCard exchange rate but that is always a little more expensive than mid market rates


Still better than Revolut on most days


Geta card like Monzo or Loot when spending in more exotic countries, you’ll save a bundle compared to Revolut.
Revolut is only good in major countries with liquid, much-traded currencies. Elsewhere you are far better off with the normal MasterCard rate.