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  #421  
Old 02.11.2017, 19:32
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Re: Multi Currency Credit Card ["Revolut"]

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And to make a SEPA transfer, you need Euro. How do you get Euro?
Friends, coworkers, IB...

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I heard that it's possible to use IB for this as well: send CHF to IB, exchange to EUR, then send to Revolut?
Yes it takes a few days but no wire fees and no ridiculous currency markups in this way.
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  #422  
Old 02.11.2017, 20:30
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Re: Multi Currency Credit Card ["Revolut"]

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Both UK & CH are part of SEPA, so it can be very cheap to transfer if done correctly.
Yes, they are part of SEPA, which means you can make cheap transfers of EUR! Jeez, what's with you guys?
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  #423  
Old 03.11.2017, 14:36
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Re: Multi Currency Credit Card ["Revolut"]

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Can you confirm what the card is called or provide a link to the UBS pre-paid card page?

I assume there are no costs to load the UBS pre-paid card right?
UBS Master Card pre-paid: https://www.ubs.com/ch/de/swissbank/...editkarte.html

No cost when loading the card, and it takes just a few seconds to have the money from your account into the card.
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  #424  
Old 03.11.2017, 15:14
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Re: Multi Currency Credit Card ["Revolut"]

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UBS Master Card pre-paid: https://www.ubs.com/ch/de/swissbank/...editkarte.html

No cost when loading the card, and it takes just a few seconds to have the money from your account into the card.
You mean this is an alternative for the Revolut? There is a CHF 50 annual fee for this prepaid card.
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  #425  
Old 03.11.2017, 15:34
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Re: Multi Currency Credit Card ["Revolut"]

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You mean this is an alternative for the Revolut? There is a CHF 50 annual fee for this prepaid card.
No, I meant that you can topup Revolut without any charge using this card.
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  #426  
Old 07.11.2017, 09:19
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Re: Multi Currency Credit Card ["Revolut"]

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And to make a SEPA transfer, you need Euro. How do you get Euro?

So far I've been making SWIFT transfers from my CHF account, which costs me, I think, 8 CHF.

I heard that it's possible to use IB for this as well: send CHF to IB, exchange to EUR, then send to Revolut?
When I tried with IB and chatted to them, they said it wasn't possible to send to Revolut iirc.......ah maybe this was before the EUR account in Revolut was activated (?), will check again
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  #427  
Old 07.11.2017, 09:35
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Re: Multi Currency Credit Card ["Revolut"]

I load Revolut in quite a complicated, but I guess cheap method:
  1. transfer CHF to currencyfair.com
  2. swap CHF to EUR with currencyfair using their marketplace function for best rates
  3. transfer EUR from currencyfair to dkb.de
  4. transfer EUR from dkb.de to Revolut

  • Considering I'm doing step 1 through 3 anyway to have EURs for the EUR-zone I guess adding step 4 isn't a big deal.
  • Setting this up only for Revolut would probably be a bit exaggerated.
  • Also I´m not sure if the additional detour via dkb is absolutely necessary. I seem to remember that currencyfair doesn't allow transferring directly to other e-money-services, so I never tried.
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  #428  
Old 07.11.2017, 11:04
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Re: Multi Currency Credit Card ["Revolut"]

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I load Revolut in quite a complicated, but I guess cheap method
Maybe it is specific to your bank; but I have a personal UBS account and I can make a SEPA transfer direct from it, in EUR, to my Revolut EUR IBAN.

Works a treat! I pay UBS a fee of 0.30 CHF

I last did this a week or so ago so it is current. I transferred €200 from UBS to the Revolut Euro account I activated (IBAN GB88 REVO 0099.....).
Next day €200 arrived in my Revolut € account and at the end of the month (October) UBS added a single eBanking SEPA charge of CHF 0.30.

Now that is easy AND cheap

Oh...I should add my UBS account is in CHF, but they allow EURO transfers. I have no idea if the currency exchange they do is good or bad...I will check next time
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  #429  
Old 07.11.2017, 11:11
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Re: Multi Currency Credit Card ["Revolut"]

Quick note, for UBS folk, apparently one can use their Prepaid card (which is free if you have one of their banking packages) to load Revolut for free

https://community.revolut.com/t/top-...erland/8660/34

Not tried it myself yet but at the rate I am spending with Revolut I will probably get one (even though it still means making two transfers each time)
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  #430  
Old 07.11.2017, 11:34
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Re: Multi Currency Credit Card ["Revolut"]

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Oh...I should add my UBS account is in CHF, but they allow EURO transfers. I have no idea if the currency exchange they do is good or bad...I will check next time
Well, yes, that's the catch, the exchange applied by UBS when converting from CHF to EUR is not the interbank rate but their own sell rate - typically you lose about 1.5% or more when you go this route. As said before, on the long term it is better to transfer directly large amounts of CHF via SWIFT (5chf a transfer).
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  #431  
Old 07.11.2017, 12:03
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Re: Multi Currency Credit Card ["Revolut"]

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I load Revolut in quite a complicated, but I guess cheap method:
  1. transfer CHF to currencyfair.com
  2. swap CHF to EUR with currencyfair using their marketplace function for best rates
  3. transfer EUR from currencyfair to dkb.de
  4. transfer EUR from dkb.de to Revolut

  • Considering I'm doing step 1 through 3 anyway to have EURs for the EUR-zone I guess adding step 4 isn't a big deal.
  • Setting this up only for Revolut would probably be a bit exaggerated.
  • Also I´m not sure if the additional detour via dkb is absolutely necessary. I seem to remember that currencyfair doesn't allow transferring directly to other e-money-services, so I never tried.
Hey, could you please throw some numbers? I am trying hard to understand how going through some many steps doesn't hurt your final value...
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  #432  
Old 07.11.2017, 12:55
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Re: Multi Currency Credit Card ["Revolut"]

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Quick note, for UBS folk, apparently one can use their Prepaid card (which is free if you have one of their banking packages) to load Revolut for free

https://community.revolut.com/t/top-...erland/8660/34

Not tried it myself yet but at the rate I am spending with Revolut I will probably get one (even though it still means making two transfers each time)
I already confirmed this method works, no extra costs so far (surprisingly).
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  #433  
Old 08.11.2017, 12:08
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Re: Multi Currency Credit Card ["Revolut"]

Hi there! Just to give you guys my personal experience with the Revolut card:

I subscrived Revolut in Dec.2016, received the card a few days later (very nice smart package!) and used it during a trip that I did to Myanmar later on the same month. It worked perfectly! As my account is in euros I just used the app on my phone to transfer the money, to see my account, etc.

Why I did it? to not pay the transactions fees and worked fine, for free!!

This year, in mid September, I used for the second time, in Singapore and Malasya, and worked more or less... they had an IT problem and my balance was not updated, so I couldn´t used it and it took a day or so to they fix the problem. I used the online chat to try to speak with them, it was an automatic robot, but after the "incident" they apologize me (via the same chat) and explained that was a temporary connection error related to the payment processor´s system.

I will definitely continue to used it (for now, as is for free) in foreign countries, I mean, with foreign currencies!
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  #434  
Old 08.11.2017, 14:41
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Re: Multi Currency Credit Card ["Revolut"]

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Hey, could you please throw some numbers? I am trying hard to understand how going through some many steps doesn't hurt your final value...
  1. transfer CHF to currencyfair.com
    • this is 1:1 in CHF, no fee
  2. swap CHF to EUR with currencyfair using their marketplace function for best rates
    • they apply very good fx-rates
  3. transfer EUR from currencyfair to dkb.de
    • 1:1 in EUR + a once-off fee for the transfer, easily offset by the very good rate (which can be ABOVE mean rate as you can be the supplier, but that's another story, google currencyfair in this regard)
  4. transfer EUR from dkb.de to Revolut
    • 1:1 in EUR, it's free
I'd say those using the "free" UBS card (which costs 50 yearly to start with) probably lose when converting CHF to EUR.


Example:
CHF 1000 would get me EUR 855.70 at this very moment (08Nov2017; 14:40)!


But this can never be compared in a forum, as you would have to compare what you get in both places exactly at the same time.
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  #435  
Old 08.11.2017, 14:51
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Re: Multi Currency Credit Card ["Revolut"]

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  1. transfer CHF to currencyfair.com
    • this is 1:1 in CHF, no fee
  2. swap CHF to EUR with currencyfair using their marketplace function for best rates
    • they apply very good fx-rates
  3. transfer EUR from currencyfair to dkb.de
    • 1:1 in EUR + a once-off fee for the transfer, easily offset by the very good rate (which can be ABOVE mean rate as you can be the supplier, but that's another story, google currencyfair in this regard)
  4. transfer EUR from dkb.de to Revolut
    • 1:1 in EUR, it's free
I'd say those using the "free" UBS card (which costs 50 yearly to start with) probably lose when converting CHF to EUR.


Example:
CHF 1000 would get me EUR 855.70 at this very moment (08Nov2017; 14:40)!


But this can never be compared in a forum, as you would have to compare what you get in both places exactly at the same time.
why not shortcut and transfer directly in CHF to revolut and convert in the revolut app?
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  #436  
Old 08.11.2017, 14:55
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Re: Multi Currency Credit Card ["Revolut"]

Because as of now there's charges for CHF transfers to the CHF-account in the UK.

If and when they offer, hopefully ever, local accountnumbers in Switzerland I shall go the direct route, which would obvisouly be preferable.

I would only recommend my strategy to everyone who has a local EUR-account anyway. I want to occasionally feed EURs into the German DKB-account. As I describe above I do stept 1-3 anyway, so adding step 4 is not much additional hassle.
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  #437  
Old 08.11.2017, 15:41
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Re: Multi Currency Credit Card ["Revolut"]

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Because as of now there's charges for CHF transfers to the CHF-account in the UK.

If and when they offer, hopefully ever, local accountnumbers in Switzerland I shall go the direct route, which would obvisouly be preferable.
Same here for me.
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  #438  
Old 08.11.2017, 15:57
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Re: Multi Currency Credit Card ["Revolut"]

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Because as of now there's charges for CHF transfers to the CHF-account in the UK.

If and when they offer, hopefully ever, local accountnumbers in Switzerland I shall go the direct route, which would obvisouly be preferable.

I would only recommend my strategy to everyone who has a local EUR-account anyway. I want to occasionally feed EURs into the German DKB-account. As I describe above I do stept 1-3 anyway, so adding step 4 is not much additional hassle.
but in your step 3 there is already a charge, so why not pay 5chf to UBS and skip the hassle instead of doing 3 steps and paying 5chf to currencyfair?
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  #439  
Old 08.11.2017, 15:58
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Re: Multi Currency Credit Card ["Revolut"]

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but in your step 3 there is already a charge, so why not pay 5chf to UBS and skip the hassle instead of doing 3 steps and paying 5chf to currencyfair?
Is it just 5 CHF? Hasn't there been complaints of money being lost due to "intermediary" banks?
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  #440  
Old 08.11.2017, 20:22
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Re: Multi Currency Credit Card ["Revolut"]

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but in your step 3 there is already a charge, so why not pay 5chf to UBS and skip the hassle instead of doing 3 steps and paying 5chf to currencyfair?
Currencyfair's "fee" is ZAR 25 = CHF 1.77

The minor difference of half-a-coffee between 5 and 1.77 isn't important, what's important is the difference in FX-rate, I assume the difference could be up to 3%, maybe more? I don't know how bad UBS's FX-rate actually is?

+ the gamble if intermediary banks will take a share. My strategy is guaranteed not to cause any additional fees of any kind. WYSIWYG.
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