And what about all the other 150+ currencies? There is still no way to know your so-called “interbank” rates in advance for any of them.
Also, is the link to that website anywhere in your FAQ or are you just sharing it now for the first time? I’ve certainly never seen it mentioned anywhere before. How are we as your customers supposed to know about it? And why should we be expected to go to a third-party website to find out Revolut’s exchange rates? Shouldn’t that be one of the “cool” features in your “awesome” app?
If this is what you call being “completely transparent,” then I’m afraid one of us is in dire need of a dictionary.
All the information that came out to light in this thread should have been on your website in the first place, linked from your homepage, alongside your current and historical exchange rates for all currencies. Besides, it should be made clear that the exchange rates in your app are not the ones that apply to card transactions. Only then could you possibly be transparent, although still not necessarily competitive, as pointed out by @Geoffrey.
Please spare us the marketing mumbo-jumbo. Nobody signs up for Revolut for the “categorization.” If your only strong points are supposed to be with the app itself, then why don’t you just sell the code to some other company that has a better idea what to do with it?
You are free to charge whatever fees you decide to but, considering that on your homepage it says:
[quote]Spend without fees
When using the RevolutCard, you will get the real exchange rate and spending is always free.[/quote]
Can you really fault your customers for not being ecstatic once they find out what the real “real exchange rate” is?