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  #461  
Old 24.01.2018, 09:35
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Re: Multi Currency Credit Card ["Revolut"]

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Sure but there is no guarantee that Revolut won't start charging for that too. They were not charging for normal top-ups before
Agree. Luckily for me, I already had such card (M&M). But I would not bother to order it pay annual fee just for Revolut.

A friend of mine told me about Dukascopy - they recently launched new service of "mobile current account": www.dukascopy.bank They provide you with CH IBAN account, and for 6 CHF you can get a Virtual Prepaid Card, which you can connect to Apple Pay (because it is a product of Corner Bank). Then it is 1 CHF per month, I believe. The account opening is fully online, including video identification, you also can exchange currencies with them, and make investments in metals, oil, indexes and cryptocurrencies soon.

Could be a solution.
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  #462  
Old 24.01.2018, 09:41
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Re: Multi Currency Credit Card ["Revolut"]

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Agree. Luckily for me, I already had such card (M&M). But I would not bother to order it pay annual fee just for Revolut.

A friend of mine told me about Dukascopy - they recently launched new service of "mobile current account": www.dukascopy.bank They provide you with CH IBAN account, and for 6 CHF you can get a Virtual Prepaid Card, which you can connect to Apple Pay (because it is a product of Corner Bank). Then it is 1 CHF per month, I believe. The account opening is fully online, including video identification, you also can exchange currencies with them, and make investments in metals, oil, indexes and cryptocurrencies soon.

Could be a solution.
Their exchange rates are poorer compared to Revolut btw Thank you for sharing.
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  #463  
Old 24.01.2018, 09:46
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Re: Multi Currency Credit Card ["Revolut"]

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Their exchange rates are poorer compared to Revolut btw Thank you for sharing.
According to this page they have pretty good rates for swiss residents and frontaliers. But it seems that their offer is more for salary exchange, not for daily expenses like Revolut. They do not offer multi-currency card as Revolut does.
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  #464  
Old 24.01.2018, 09:48
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Re: Multi Currency Credit Card ["Revolut"]

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According to this page they have pretty good rates for swiss residents and frontaliers. But it seems that their offer is more for salary exchange, not for daily expenses like Revolut. They do not offer multi-currency card as Revolut does.
If you believe what people write on webpages and marketing materials, I have a bridge to sell.
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  #465  
Old 24.01.2018, 09:54
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Re: Multi Currency Credit Card ["Revolut"]

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If you believe what people write on webpages and marketing materials, I have a bridge to sell.
Well , it is worth to try if it's free. Not everything that is written on webpages is false.
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  #466  
Old 24.01.2018, 10:00
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Re: Multi Currency Credit Card ["Revolut"]

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Well , it is worth to try if it's free. Not everything that is written on webpages is false.
It's not really free is it? You have a card fees, a monthly fees, plus other fees.

For example of why not to believe them - Here - https://www.dukascopy.bank/swiss/fees-limits/ - They say the transfer within Dukascopy group is free. and in the FAQ - https://www.dukascopy.bank/swiss/faq/#faq05 - it says it costs 1%.
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  #467  
Old 24.01.2018, 10:14
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Re: Multi Currency Credit Card ["Revolut"]

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It's not really free is it? You have a card fees, a monthly fees, plus other fees.

For example of why not to believe them - Here - https://www.dukascopy.bank/swiss/fees-limits/ - They say the transfer within Dukascopy group is free. and in the FAQ - https://www.dukascopy.bank/swiss/faq/#faq05 - it says it costs 1%.
Card fee and monthly fees - they are only for card product (if you want to transfer to Revolut). If you do not order a card you do not pay them.

I asked my friend and he exchanges part of his CHF salary to EUR (works in Switzerland, lives in France). He says there are no fees to open/keep account, no deposit fees if you use bank transfer (CH IBAN). The only fee he pays is 2.5 EUR when he withdraws money to EUR account (SEPA bank). The exchange rate is the best he could find in Switzerland.
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  #468  
Old 24.01.2018, 10:15
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Re: Multi Currency Credit Card ["Revolut"]

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Card fee and monthly fees - they are only for card product (if you want to transfer to Revolut). If you do not order a card you do not pay them.

I asked my friend and he exchanges part of his CHF salary to EUR (works in Switzerland, lives in France). He says there are no fees to open/keep account, no deposit fees if you use bank transfer (CH IBAN). The only fee he pays is 2.5 EUR when he withdraws money to EUR account (SEPA bank). The exchange rate is the best he could find in Switzerland.
That's good to know. Thank you for checking with your friend.

you could top up Revolut with a bank account too, btw.
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  #469  
Old 16.03.2018, 12:30
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Re: Multi Currency Credit Card ["Revolut"]

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That's good to know. Thank you for checking with your friend.

you could top up Revolut with a bank account too, btw.

Was the problem fixed to Top UP your Revolut account with a Swiss Bank account?
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  #470  
Old 16.03.2018, 12:59
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Re: Multi Currency Credit Card ["Revolut"]

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Was the problem fixed to Top UP your Revolut account with a Swiss Bank account?
What problem?
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  #471  
Old 16.03.2018, 13:12
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Re: Multi Currency Credit Card ["Revolut"]

Fees Problems . Due to lack os support of Revolut in Switzerland.

Fees from Revolut + fees from Swiss bank.

How can you avoid these?
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  #472  
Old 17.03.2018, 01:35
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Re: Multi Currency Credit Card ["Revolut"]

Swiss bank to CurrencyFair (free), then currencyfair to Revolut (about 3chf)

Or

Open transferwise borderless account with debit card, transfer to it for free and then top up for free from the debit card

After trying several options, these 2 are the cheapest (1 is free!) and with no surprises
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  #473  
Old 17.03.2018, 09:31
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Re: Multi Currency Credit Card ["Revolut"]

@Poot:
Have you tried this with CHF or EUR?

Transferwise "core" currenecies for borderless accounts are USD, GBP, EUR and AUD.

Also they state:
- Free to receive money using your bank details in US, UK, Eurozone and Australia.

Thereís a fee to convert between currencies (e.g. 0.35% from GBP to EUR) in your account.
Thereís a fixed fee (e.g. 50p for GBP) to send or withdraw money from your Borderless Account to another bank account in the same currency.

Si it seems if you work in CHF you may be hgit sending CHF to your borderless account, and then hit again transferring it to Revolut even if it is in CHF, EUR or GBP.

This fee "might" be less than SEPA charge but seems convoluted....
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  #474  
Old 17.03.2018, 11:02
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Re: Multi Currency Credit Card ["Revolut"]

You can pay in and hold CHF as a core currency in all of Revolut, Transferwise and Currencyfair

No exchange needed, CHF all the way if you use CurrencyFair, or TransferWise with the borderless debit card.

The only annoying thing about TransferWise is that you can’t pay CHF to the Revolut CHF bank account by bank transfer (they restrict it as its domiciled in the UK). So if you don’t have or want the TransferWise debit card, then use CurrencyFair as they don’t restrict CHF to a CHF account in the UK.

So as I said, if you use any of the above methods then the max free you’ll ever pay is 3chf at Currencyfair. If you eventually want to switch currencies, do it at Revolut imo.
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  #475  
Old 17.03.2018, 13:22
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Re: Multi Currency Credit Card ["Revolut"]

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Fees Problems . Due to lack os support of Revolut in Switzerland.

Fees from Revolut + fees from Swiss bank.

How can you avoid these?
You can avoid these by doing the transfer correctly! Revolut will never charge you any fees if you transfer the money to the right bank account number and using the right currency.

I heard of stories where people transfer money from their Swiss account (namely post finance) where their bank in Switzerland automatically ďsuggestsĒ that they send the money in GBP because the Revolut IBAN starts with GBXXX. They then accept this and the funds are converted to GBP at a shitty rate by their bank and then further converted again to CHF by Revolutís bank when they arrive!!! This is madness! Simply transfer the money from your Swiss account to Revolutís pooled account in CHF and make sure of that!

I see a lot of confusing statements on this thread. There is absolutely no need to transfer money to currency fair or some other intermediary before it gets to Revolut. In fact I would strongly advise against it!!!!
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  #476  
Old 17.03.2018, 13:35
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Re: Multi Currency Credit Card ["Revolut"]

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Simply transfer the money from your Swiss account to Revolutís pooled account in CHF and make sure of that!
It's not that easy. From Postfinance, if you wire CHF to the Revolut CHF account with a GB IBAN, you get to pay a fee. Even if you don't convert currency.
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Old 17.03.2018, 15:57
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Re: Multi Currency Credit Card ["Revolut"]

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You can avoid these by doing the transfer correctly!!
As 'RoastedRhino' says that might be an oversimplification. It might happen by mistake for some users but not always.

Having just moved from UBS to PostFinance I confirm there is a charge. I tested sending exactly CHF200 (yes, in CHF) to Revolut CHF account. PF charged me CHF 2 and top up credited was CHF 194.

No currency conversion, cost me CHF8 so now I am trying TransferWise Borderless account.

FYI this transfer was done 13th March, so fees current as of then. I do know there have been changes to charges via various methods so I am always trying out new options until the much requested, permanently "coming soon" CHF IBAN's come to Revolut

Last edited by wheatism; 17.03.2018 at 15:59. Reason: Updated with dates
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  #478  
Old 17.03.2018, 22:01
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Re: Multi Currency Credit Card ["Revolut"]

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You can avoid these by doing the transfer correctly! Revolut will never charge you any fees if you transfer the money to the right bank account number and using the right currency.

I heard of stories where people transfer money from their Swiss account (namely post finance) where their bank in Switzerland automatically “suggests” that they send the money in GBP because the Revolut IBAN starts with GBXXX. They then accept this and the funds are converted to GBP at a shitty rate by their bank and then further converted again to CHF by Revolut’s bank when they arrive!!! This is madness! Simply transfer the money from your Swiss account to Revolut’s pooled account in CHF and make sure of that!

I see a lot of confusing statements on this thread. There is absolutely no need to transfer money to currency fair or some other intermediary before it gets to Revolut. In fact I would strongly advise against it!!!!
That’s bad advice, because the fact that Revolut doesn’t charge you, doesn’t mean you won’t pick up various other unexpected costs. Fact is, transferring from MOST Swiss banks can be unpredictable.

Most people’s gripes haven’t been about the mistake of changing currency at the same time as transferring, but the unexpected and intransparent fees of either their own bank or the UK intermediary. Eg. I’ve tried several methods via my own bank and also Swissquote, & been hit with various fees outside the control of my bank & Revolut.

This is the reason why places like Currencyfair are great! Hence if you use for example Currencyfair to load your Revolut it’s guaranteed to cost you a max of around 3chf & no nasty surprises.
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  #479  
Old 18.03.2018, 08:12
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Re: Multi Currency Credit Card ["Revolut"]

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Most peopleís gripes havenít been about the mistake of changing currency at the same time as transferring, but the unexpected and intransparent fees of either their own bank or the UK intermediary. Eg. Iíve tried several methods via my own bank and also Swissquote, & been hit with various fees outside the control of my bank & Revolut.

This is the reason why places like Currencyfair are great! Hence if you use for example Currencyfair to load your Revolut itís guaranteed to cost you a max of around 3chf & no nasty surprises.
Dunno, have transfered money several times and no suprise deductions or fees
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Old 18.03.2018, 10:13
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Re: Multi Currency Credit Card ["Revolut"]

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Fees Problems . Due to lack os support of Revolut in Switzerland.

Fees from Revolut + fees from Swiss bank.

How can you avoid these?
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That’s bad advice, because the fact that Revolut doesn’t charge you, doesn’t mean you won’t pick up various other unexpected costs. Fact is, transferring from MOST Swiss banks can be unpredictable.
My advice relates purely to the “Fees from Revolut” part of FILA’s post quoted above. (Which is not very clear to put it mildly)

I stand by that advice because if you’re using any third party provider like CurrencyFair to reduce “Revolut Fees” then you’re doing something unnecessary because Revolut does not charge fees for bank transfers.

Now if you are doing that to save fees from your bank or their intermediaries then that’s a different matter entirely. These fees are normally fixed and vary from bank to bank and also depend on what kind of package you have with them. For example for me with CS and their basic Silver package I pay zero fees for transfering CHF to Revolut. (I do pay indirectly because of the Silver package fees). Still it’s probably not worth doing to save CHF5.- depending on the amount you’re transfering but that’s entirely up to the individual to judge that.


Summary:

For transfers to Revolut from a Swiss bank account the fees are as follows (current understanding):

Total Fee = Transfer Fee Originating Bank (Client’s Bank) + Fee from Intermediary (ies) / Correspondent Bank(s) + Fee from Revolut’s Pooled account Bank

Assuming of course that the person doing the transfer chooses the correct account to transfer to and sends money in the same currency as the destination account. Otherwise they will incur further totally avoidable FX fees which defeat the purpose of the whole exercise.


I hope that this is useful for someone!
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