Which currency is debited for transactions in a currency not held?

Hi all,

I read that the largest currency balance is debited first, when you pay in a currency that you do not hold, or you do not have enough funds in the transaction currency to pay the full amount.

This was not the case for some of my transactions.

I am paid in Euros, and Euros was my highest currency balance, but when I used my card in Denmark for a DKK transaction, my GBP balance was debited.

How do I ensure that my Euro balance is debited instead of my GBP balance?
Is there a setting that needs to be changed, or do I inform Revolut of my preferred/default currency?

I now transfer from my Euro account to a DKK account before travelling and spending in Denmark.

Sounds like your base currency is GBP.

This is how it should work:

1st: local
2nd: base currency
3rd: currency with largest deposit


Are you sure that the transaction was in DKK ?

Hi Frank,

That’s possible - I am a relatively new Revolut customer. I was not aware of a base currency.
I will ask Support how to change the base currency.

The base currency depends on your residency. If you‘ve registered with a UK address, it is GBP. I think it can’t be changed without changing residency address.

Hi Spoon,
Yes, my transactions on my GBP account show Dkr amounts that were debited.
I always choose the local currency for payments because I am aware of the rip-offs that merchants charge for currency exchange.

I’ve just pinged Support and it said that Base Currency cannot be changed at present :frowning:

My workaround is to transfer Euros to the currency I am spending before I use my Revolut card.

But hopefully the function to change base currency will be implemented soon.

Strange, I’ve changed the main currency. At the beginning PLN wasn’t available, so my main currency was EUR, then I’ve changed it to PLN (I’ve asked support for this to be honest :grin:)