Transfer NOK to EUR

Ideas & Feedback Feedback
1

I have a Norwegian bank account with NOK. I want to send some of that, as cheaply as possible, to EUR. If I transfer to the Revolut account in NOK, I will pay a fee at my Norwegian bank (as I transfer money abroad - NOK 150, so EUR 15, so quite a lot) and revolut will then convert to EUR at the interbank rate. I could also transfer the money from my Norwegian account to the Revolut account in EUR, the charge of my Norwegian bank is then lower (NOK 35) but I then use my banks not so favorable exchange rate so then I dont use the Revolute exchange rate…

Is there a way to avoid the charge by my Norwegian bank? E.g. can I transfer from my Norwegian account in NOK to a norwegian account of Revolut and then exchange to EUR?

2

Revolut does not have any local Norwegian accounts AFAIK.

What you probably could do is to top-up via a credit or debit card in NOK.

3

That would indeed be an option, however then Revolut also charges 1%… Right?

4

There might be a fee, yes, since Norwegian is not a EU country. Or maybe there isn’t, since Norwegian is indeed a EEA country. And this is what the prices page says about this:

Please note that if you top up with a card that has not been issued within the EEA (e.g. a US based card) or you top up with a commercial card then we may charge a small fee just to cover our costs.

So, if Revolut does not confuse EU with EEA here, there should be no fee. I would give it a try, with a small amount.

5

Thanks guys! Will do as you say and see what happens!

6

Also have in mind that Revolut sometimes wrongly charges a fee. Their system recognizes a card as a business card and not as a personal card. So even if you’re seeing a fee, I would talk with support about it. They can adapt their system if you can proof that the card is indeed a personal card, with a bank statement or a letter from the bank or something like this.

7

No fee for Norwegian debit or credit cards. Just top-up with your card and exchange within revolut and transfer to an Euro account. Have done almost the same several times (just to a Danish account instead of an Euro) and no fee so long.