Hello, I just arrived in Brazil, it is Saturday, knowing that during the weekend if I use the revolut standard Card, I shall have fee since the stock Exchange is closed during the weekend. Should I have to create a Brazilian account? For using it, to avoid paying fee? thank you for your feedback
There’s no stock exchange involved. The foreign exchange markets have no liquidity at the weekend, so Revolut doesn’t have a current rate. Therefore they use Friday’s closing rate with a 0.5% margin to protect them against movements before Monday morning.
You cannot have a BRL balance in Revolut, and it’s unlikely that BRL will be added for years, given that it is a restricted currency. You can spend in BRL only from one of the 25 supported balance currencies.
In case of BRL it is 1%.
Which eventually means you are stuck with aforementioned surcharge during the weekend.