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Old 06.07.2017, 12:34
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Re: Multi Currency Credit Card ["Revolut"]

Some good news regarding Revolut. But does the availability of the CHF option change anything regarding CHF transfers from a Swiss CHF account to the Revolut account? What's the cheapest way?
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Old 06.07.2017, 12:56
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Re: Multi Currency Credit Card ["Revolut"]

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I had to call UBS and learned that this SWIFT code is not SEPA compliant so I could only send regular x-border payments to that SWIFT (extra expensive).
UBS is bullshitting you. I had no problems with SEPA transfer at Postfinance. Completely free, but took 2 days
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Old 06.07.2017, 13:33
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Re: Multi Currency Credit Card ["Revolut"]

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UBS is bullshitting you. I had no problems with SEPA transfer at Postfinance. Completely free, but took 2 days

Could well be. Have tried it now from my Commerzbank account.
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Old 06.07.2017, 18:55
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Re: Multi Currency Credit Card ["Revolut"]

This is all very interesting. I'm quite tempted to order one

There is further discussion on transfers from CH (and in particular UBS) here

https://community.revolut.com/t/best...up-in-chf/6977
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Old 07.07.2017, 11:52
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Re: Multi Currency Credit Card ["Revolut"]

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UBS is bullshitting you. I had no problems with SEPA transfer at Postfinance. Completely free, but took 2 days
From Postfinance, I was charged 2 CHF to transfer 300 CHF, and only 292 CHF arrived in my Revolut account.

What is your experience?
  #346  
Old 07.07.2017, 12:30
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Re: Multi Currency Credit Card ["Revolut"]

I had been charged 10 Fr in total for a CHF transfer from postfinance, too. Ripoff.

But EUR transfers through SEPA are completely free and faster, 1 day between debit and credit.
  #347  
Old 07.07.2017, 14:37
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Re: Multi Currency Credit Card ["Revolut"]

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From Postfinance, I was charged 2 CHF to transfer 300 CHF, and only 292 CHF arrived in my Revolut account.

What is your experience?
Well then it all works as expected. A while ago ivank posted the fee table, which I post below. Basically, PostFinance took 2 CHF and intermediary bank 6 CHF. You should have sent 2x150 CHF, then they would only charge you 2x2 CHF. Or if you sent 2000 CHF, then the fees would only eat up 0.4% of the transfer.

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Oh, there will be, they'll get you good. A while ago (not sure how up-to-date) they were quoting this fee schedule for transfers to Citibank in UK:

CHF 0.00 - CHF 150.00 = CHF 0.00
CHF 151.00 - CHF 10'000 = CHF 6.00
from CHF 10'001.00 = CHF 10.00
  #348  
Old 07.07.2017, 14:40
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Re: Multi Currency Credit Card ["Revolut"]

That table was quoted for Citibank. Revolut uses a different UK bank. I had 8 Fr stolen from me on a 1000 Fr transfer in addition to 2 Fr PF fee, for a 1% loss in total
  #349  
Old 08.07.2017, 12:46
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Re: Multi Currency Credit Card ["Revolut"]

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Some good news regarding Revolut. But does the availability of the CHF option change anything regarding CHF transfers from a Swiss CHF account to the Revolut account? What's the cheapest way?
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This is all very interesting. I'm quite tempted to order one

There is further discussion on transfers from CH (and in particular UBS) here

https://community.revolut.com/t/best...up-in-chf/6977
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From Postfinance, I was charged 2 CHF to transfer 300 CHF, and only 292 CHF arrived in my Revolut account.

What is your experience?
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I had been charged 10 Fr in total for a CHF transfer from postfinance, too. Ripoff.

But EUR transfers through SEPA are completely free and faster, 1 day between debit and credit.
I transfered CHF2000.- from CS account, no fee charged by CS and full amount received on the Revolut card on T+2. I have a bonviva package which might be why I didn't get charged. I also chose split fees (sender and receiver) when I transfered.
  #350  
Old 08.07.2017, 13:25
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Re: Multi Currency Credit Card ["Revolut"]

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I transfered CHF2000.- from CS account, no fee charged by CS and full amount received on the Revolut card on T+2. I have a bonviva package which might be why I didn't get charged. I also chose split fees (sender and receiver) when I transfered.
That is a bit strange, as by sharing the expenses you may have lower (or zero) expenses from your side, but Revolut's bank should charge the same. Anyway, for me it makes no sense to use Revolut until they open an account in Switzerland to receive payments.
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Old 08.07.2017, 14:39
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Re: Multi Currency Credit Card ["Revolut"]

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That is a bit strange, as by sharing the expenses you may have lower (or zero) expenses from your side, but Revolut's bank should charge the same. Anyway, for me it makes no sense to use Revolut until they open an account in Switzerland to receive payments.
Not really strange, this is the default setting. The sending bank charges something and the receiving bank charges something too. Normally the sender takes care of the sending fees and the receiver takes care of the receiving fees.

This is at least how I understood it. It would be useful to know how the others did it.
  #352  
Old 10.07.2017, 10:19
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Re: Multi Currency Credit Card ["Revolut"]

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Not really strange, this is the default setting. The sending bank charges something and the receiving bank charges something too. Normally the sender takes care of the sending fees and the receiver takes care of the receiving fees.

This is at least how I understood it. It would be useful to know how the others did it.
Exactly what I thought. So if we both used the "shared expenses" option, I don't understand why in my case I got a 2 CHF fee at my sending bank (Postfinance) and 8 CHF deducted by Revolut's bank, while in the other reported case, the person got a 0 CHF fee (fine, his bank offers a better deal) and 0 CHF deducted by Revolut's bank (?).
  #353  
Old 10.07.2017, 14:23
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Re: Multi Currency Credit Card ["Revolut"]

Interesting, after UBS tried to tell me the Revolut SWIFT address was not compliant for SEPA payments, I sent some EUR from Commerzbank and that arrived without any deduction.
  #354  
Old 10.07.2017, 14:49
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Re: Multi Currency Credit Card ["Revolut"]

This confusion is most probably due to misunderstandings within the maze of SEPA / SWIFT / PSD / whatever abbreviations.

  • SEPA is the technical standard, "Single European Payment Area". This has nothing to do with fees, all EU-countries + all EEA countries and also Switzerland (and some more...) are members of this arrangement. However, this merely standardises account numbers in a specific format and determines how banks clear between them.
  • SWIFT is the Belgian System which banks use to "exchange information" - one of the technical backgrounds SEPA relies on.
  • PSD - the "Payment Services Directive" is the one which determines that certain transfers may "not cost more than a comparable domestic transfer". Details of the PSD are tricky, but for Switzerland it's rather easy: It does not apply here! It's only applicable in EU+EEA.

As such CH-banks may determine what they want to charge, and on the receiving end EU/EEA banks may also charge to receive from Swiss banks.

Most banks, both in Switzerland and the EU/EEA, voluntarily pretend as if Switzerland applied the PSD in full, but they don't have to.

In short: Sending money from most EU/EEA countries to Revolut is currently free, while from Switzerland it's more patchy to predict.
  • I charge my Revolut from my German current account, it's been free ever since.
  • Since Revolut now offers individual UK-GBP-account numbers it might be possible to go via Currencyfair/Transferwise; i.e. CHF to CF/TW, swap into GBP with those guys, then in GBP to Revolut.
In short#2: Only when Revolut offers a Swiss account for charging will it be really beneficial for Swiss residents.


Competition, especially with Transferwise, will prove helpful: Transferwise plans to introduce a credit card. As Transferwise already has local accounts in place in many countries, that will be a real game changer. It's a bit of a gamble who will do what first:
  • Transferwise to offer a debit card, or
  • Revolut offering local accounts.
Somehow this cries for merger - we will see
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Old 10.07.2017, 15:44
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Re: Multi Currency Credit Card ["Revolut"]

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I had been charged 10 Fr in total for a CHF transfer from postfinance, too. Ripoff.

But EUR transfers through SEPA are completely free and faster, 1 day between debit and credit.
Does it always take full 24 hours or there is a cut-off, cut-in time limit (I guess it's not clear english)? In other words, if you ask for a SEPA transfer, let's say, at 3:00pm, will it be available on the destiny at 3:00pm on the next day or at noon, for example?

Thanks!
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Old 10.07.2017, 16:15
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Re: Multi Currency Credit Card ["Revolut"]

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Does it always take full 24 hours or there is a cut-off, cut-in time limit (I guess it's not clear english)? In other words, if you ask for a SEPA transfer, let's say, at 3:00pm, will it be available on the destiny at 3:00pm on the next day or at noon, for example?

Thanks!
Depends on your bank, some of my SEPA payments arrive same day/same day value.
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  #357  
Old 11.07.2017, 15:14
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Re: Multi Currency Credit Card ["Revolut"]

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UBS is bullshitting you. I had no problems with SEPA transfer at Postfinance. Completely free, but took 2 days
@ivank: could you please share with us how did you do the transfer? It seems that you are the only that managed not to pay any fees for it.
I assume the top was in CHF, from a CHF account, and with SHA (shared) payment instructions...anything else?

Thanks
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Old 11.07.2017, 15:39
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Re: Multi Currency Credit Card ["Revolut"]

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@ivank: could you please share with us how did you do the transfer? It seems that you are the only that managed not to pay any fees for it.
I assume the top was in CHF, from a CHF account, and with SHA (shared) payment instructions...anything else?

Thanks

SEPA is only for EUR payments, not CHF.
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Old 11.07.2017, 15:49
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Re: Multi Currency Credit Card ["Revolut"]

Anybody tried to top up with VPay debit card? Should also work fine I think and instant fee free top up!
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Old 11.07.2017, 16:02
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Re: Multi Currency Credit Card ["Revolut"]

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Anybody tried to top up with VPay debit card? Should also work fine I think and instant fee free top up!
I saw no way to enter VPAY card details (UBS) so gave up with VPAY and did the following:

Credit card top-up of CHF200 via UBS Mastercard, card was billed CHF 202, CHF200 credited to Revolut

For now I am sticking with CHF transfers to GBP UK-based account via Transferwise; then I top up for free from GBP into Revolut
 




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