Yes true. But you should complain to the issuer of your card to get the fees back and not to Revolut. The MCC they have to use is not up to them to define but given by the rules of the brand’s.
True, it would be good to define in the service description what they have to use, that would help customers to decide what to use.
At least one issuer in Switzerland agreed and communicated that top-up to Revolut is still free, even if correctly defined as being in the money transfer category. Cembra Money Bank if it’s of interest. Swiss users might confirm if there are more.
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And thats the point.
It looks like, banks change the way on how to use the MCC without any information to the users.
This makes the users impossible to decide what to do.
And of course i wrote to my issuer too. Not only to Revolut.
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Which MCC code is Visa and Mastercard using for Revolut today? Still 4829? or is it back to what it was. Want to top up using a credit card, but don’t want a cash advance fee!
Anyone had any experience today or yesterday?..
I asked Revolut in the chat for the MCC they use, but i didn’t get an answer to this for now.
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In earlier days, banks changed their fees based on their T&Cs totally independent from Revolut‘s MCCs. They learned about Revolut‘s business model, considered it a cash advance or money transfer service (which it obviously is) and charged their customers accordingly, only based on their terms. Some banks made this change independently from MCCs, only based on the actual nature of the service and in alignment with their T&Cs that allowed them this. This happened more than once in 2016.
The only way to be sure is by asking your issuer. They might or might not base it on MCC or Revolut as such.
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Yes, they’re using 4829.
It seems to be different from issuer to issuer on how top-ups are being handled. due to your information that MCC has changed again i tried it now with my platinum mastercard again and now there is no need for turning on cash-advance on my card and top up is working without fees. it still shows the cash-advance icon on the booking list, so the behaviour seems to be very individual.
cheers,
Just to throw it out there - Revolut is a cash transaction and your credit card issuers most likely have terms and conditions allowing them to charge you for cash transactions. They’re not going to refund you or even feel bad about it.
You should really be using a debit card/purchasing directly with the credit card/transferring by bank. Credit cards weren’t meant for withdrawing cash. They weren’t meant for sending cash. They weren’t meant for point cycling. They were meant for buying things directly and spreading the cost (and because countries didn’t want people with debt for no reason) they became a way to gain extra protections, too.
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Last time (few days go) when I topped-up from VISA credit card MCC was 6012.
But im sure, a bank can’t take fees in a month, when they didn’t take fees the month before and the terms didn’t change in the meantime.
They can if their terms already included cash transactions, which topping up Revolut would come under
UPDATE for Cembra Mastercard
I can top-up Revolut up to my cash withdrawal limit (mine is 1000 CHF).
No fees should incur according to Mr. Lang from the Cembra call centre.
Let’s is know at the time you get your next invoice, please!
Just got charged for visa top up with MCC 4829, for Revolut in Singapore. Please check if this is the norm or here to stay?
Hi there, unfortunately, we can no longer top up from credit card to Revolut accounts for free. I got charged as well in November last year when I travel abroad. There is no notification from Revolut, I spotted it from my credit card statement and phoned them to clarify and also chat with a Revolut agent. They confirmed it. Luckily it wasn’t much. Hope you didn’t get charged much. Perhaps you could even ask Revolut for a remedy.
the charge come from the bank not Revolut right?? So why Revolut should inform you about fee from other banks?? And actually there is warning in Revolut about some banks can charge you a fee. So yeah…
P.S. here in my bank I don’t have fee for top up revolut from credit card! So I CAN top up from credit card to Revolut for free.
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Scotiabank, PC Financial, and RBC do not treat topups as Cash Advances.
AFAIK, Revolut is utilizing People’s Trust Company in Canada with
Institution: 621
Transit: 16001
Account Number: 2000XXXXXXXX
—>Direct Deposit ONLY. NO DIRECT DEBITS.(FYI, direct debit capable details start with 1000XXXXXXXX [K@@o])
Also beta PC Financial [(Redacted) Coming Fall 2020] card works.