Uruguay UYU exchange rate markup? / general markup request

I just did some transactions and a ATM withdrawal in Uruguay in UYU.
Am I correct that there is a markup of around 1.5%? It is a Tuesday, so not a weekend.
I sincerely hope to see that markups like that on THB (and also UYU?) will disappear.

What I would appreciate is that during weekend Revolut would block the payment (incl a temporarily markup) and then use the real interbank rate of monday morning/sunday evening when the FX markets open again instead of applying a 0.5-1.5% weekend markup to finally settle the bill (I see that Visa and Amex do that being a credit card).

Hello @Etienne,

Thank you for you feedback.

I have double checked it for you and it seems you have received the best available rate at the time of your transactions.

Im comparing this rate with the rate you have received at your ATM withdrawal at 14.2.17.

Please let me know if you have further enquiry.

Best,

Andreas K.

I am travelling to Uruguay and Brazil in two weeks (Sept 2018). I would like to know the costs (conversion fees and exchange rate) when using my card for purchases and cash withdrawals outside the FX hours in those countries/currencies, please?

Please remind me the times for FX hours relating to time zones. I live in London, where my account is register.

Thanks in advance

Hello,
I can’t exactly recall if there was a fee every time I paid.
Revolut is surely cheaper than any other method, except perhaps N26 (they settle transactions during the week and not in the weekend with a markup of 1.5%). FX hours are from Sunday evening (2300UK?) until Friday evening (2300UK) non-stop.

Cash withdrawals are good with Revolut if you home bank card has a large fee. For me until like EUR 200 per withdrawal Revolut was good after that my local bank card was cheaper.
(The first EUR 200 withdrawal per month is without a fee anyway for Revolut, so the above is for amounts after that during a month)

Benefit of paying by card in Uruguay is that they recognize it is a foreign card and you will get a VAT refund automatically after a few days/week! You don’t have to do anything. Love that country :slight_smile:

Cheers

What things do we get the vat exception on? I thought it was only restaurants. Do we get the vat discount in supermarkets too?
Also just found out that redbrou only charge 100 pesos compared to banred when withdrawing pesos.
Thanks

As far as I can see I got refunds from restaurants, incl mcdonalds :slight_smile:
You pay it and get a refund a couple of days/weeks later.
Maybe in supermarkets if they register it as a foreign card, but in most countries VAT in supermarkets is either very low or non existent on food.

Great to know thanks. I’ll try that in Macs as it can get expensive here.

You’ll get a 22% refund (off the net) in restaurants but not in other places. But if they recognise it as a debit card in supermarkets/pharmacies there is a local discount of about 2-4% in a lot of places. BUT most POS machines recognise the card as a credit card automatically even if the employee chooses debit. Defaults to credit which is a bit annoying. My wife found one place that was able to process it as a debit card though and get a few % of the vat.

What I have noticed with the 2% debit card vat discount is that if you use your chip/pin method of payment the card is recognised as a credit card and no discount is given. If you use the swipe band method if available at the merchant it can be recognised as a debit card. So why is a prepaid debit card recognised as a credit card on the pos with chip/pin? Bit annoying as I’m missing out on quite a few discounts.

Merchants use 3rd party data providers for this kind of info. They are not always reliable.