I bought some crypto (ETH) using Revolut a few days ago. I spent X and immediately after the purchase my portfolio had a value of 0.95X, an effective fee of 5%. I’d like to emphasize that there was no market volatility or any other reason for this to happen. The bid-ask spread on ETH on Bitstamp (Revolut’s partner) was 1/16th of a percent at the time.
Revolut advertize their fee as 1.5%, which is quite high compared to exchanges, but as it’s stated up front I have no objections about it. But 5% is quite a different matter and is either a bug or, if intentional, false advertising.
I’ve now been stuck in chat support limbo for days waiting for my case to be looked at. I’ve asked them to revert the transaction, keep their ETH and refund me my fiat.
I just want to warn people that something is seriously wrong and that I recommend avoiding the purchase of ETH through the app.