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06.02.2019, 10:39
| | Junior Member | | Join Date: Sep 2011 Location: Zurich
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| | | Re: Multi Currency Credit Card ["Revolut"]
| Quote: | |  | | | Just to be clear, that's not a fee; it's interest—perfectly normal when an institution lends you money for a period of time. | | | | | Yep, I meant interest  . Thanks for fixing it.
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06.02.2019, 10:53
| | Senior Member | | Join Date: Jan 2016 Location: Lugano
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| | | Re: Multi Currency Credit Card ["Revolut"]
| Quote: | | | | | Too many red flags came up after reading above article..
- Not officially a UK or European bank yet
- Deposits not insured
- With a UK IBAN we may see issues after Brexit
- Net Income 2017 ==> -14.8 M GBP
- Gross profit 2017 ==> -6.6 M GBP
So their basically a Start-up, not for me or my money... | | | | | IBAN = International Bank Account Number, so no issues after Brexit, as confirmed by both my UK, Swiss and other EU Banks.
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07.02.2019, 19:20
| | Member | | Join Date: Nov 2015 Location: Zug
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| | | Re: Multi Currency Credit Card ["Revolut"]
| Quote: | | | | | ...so no issues after Brexit, as confirmed by both my UK, Swiss and other EU Banks. | | | | |
Also confirmed by Revolut themselves:
"If you’re a UK Revolut user, it’s business as usual for the most part. For Non-UK Revolut customers, in the event of a no-deal, we will begin the process of transferring you to our European authorised subsidiary."
Source: Link
Frankly speaking I trust Revolut far more than many other banks I have dealt with... they are no longer exactly a "start up".
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07.02.2019, 21:24
| | Forum Veteran | | Join Date: Jan 2019 Location: close to the frontier
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| | | Re: Multi Currency Credit Card ["Revolut"]
| Quote: | | | | | Frankly speaking I trust Revolut far more than many other banks I have dealt with... they are no longer exactly a "start up". | | | | | It would be good to know how safe one's money is with Revolut though should anything major happen.
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07.02.2019, 22:11
| | Forum Veteran | | Join Date: Aug 2015 Location: Basel
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| | | Re: Multi Currency Credit Card ["Revolut"]
| Quote: | | | | | It would be good to know how safe one's money is with Revolut though should anything major happen. | | | | |
They have a UK banking licence now so deposits should be (at least) protected by the FSCS regulations, right?
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09.02.2019, 22:01
|  | Member | | Join Date: Nov 2010 Location: Zurich
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| | | Re: Multi Currency Credit Card ["Revolut"]
| Quote: | | | | | It would be good to know how safe one's money is with Revolut though should anything major happen. | | | | | There was a discussion last year. Someone said that there is no protection if Revolut goes bankrupt. I don't know much about this issue.
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09.02.2019, 22:03
| | Newbie | | Join Date: Jun 2018 Location: Zug
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| | | Re: Multi Currency Credit Card ["Revolut"]
| Quote: | | | | | There was a discussion last year. Someone said that there is no protection if Revolut goes bankrupt. I don't know much about this issue. | | | | | https://blog.revolut.com/we-got-a-banking-licence/
In the future, the acquired european banking license should prevent that. Afaik, the current accounts are unprotected though.
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09.02.2019, 22:05
|  | Forum Legend | | Join Date: May 2011 Location: Zurich
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| | | Re: Multi Currency Credit Card ["Revolut"]
| Quote: | | | | | They have a UK banking licence now so deposits should be (at least) protected by the FSCS regulations, right? | | | | | Some of the key benefits provided by a banking license is that customer funds will be protected under the European Deposit Protection Scheme (EDPS). This means up to €100,000 will be insured. https://www.crowdfundinsider.com/201...nsion-in-2019/
What happens after Brexit is another thing....
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10.02.2019, 20:31
| | Forum Veteran | | Join Date: Aug 2015 Location: Basel
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| | | Re: Multi Currency Credit Card ["Revolut"]
| Quote: | | | | | It looks like they removed the fees for topping up with a Credit Card (tried with UBS). Topped up 4000.- CHF and had 0 fees. I tried only topping up CHF.
Not bad! | | | | |
So one can top up with UBS credit card, aquire the UBS keyclub points, transfer the amount back to UBS account and repeat, all with no fee?
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10.02.2019, 20:50
| | Member | | Join Date: Dec 2015 Location: Zurich
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| | | Re: Multi Currency Credit Card ["Revolut"]
| Quote: | | | | | So one can top up with UBS credit card, aquire the UBS keyclub points, transfer the amount back to UBS account and repeat, all with no fee? | | | | | Well, they are two different companies, aren't they?
Would anything prevent you from sending money back and forth between an UBS and a Credit Suisse account?
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10.02.2019, 23:24
|  | Only in moderation | | Join Date: Jul 2009 Location: Basel-Land
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| | | Re: Multi Currency Credit Card ["Revolut"]
| Quote: | | | | | Well, they are two different companies, aren't they?
Would anything prevent you from sending money back and forth between an UBS and a Credit Suisse account? | | | | | No, but every time you paid money into the CS account using your UBS credit card, it would be treated by UBS as a cash advance, attracting fees and heavy interest charges. Apparently payments to Revolut are not treated as cash advances, but as purchases.
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18.02.2019, 00:31
|  | Junior Member | | Join Date: Jun 2015 Location: Zurich
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| | | Re: Multi Currency Credit Card ["Revolut"]
Has anyone tried topping up by bank transfer in CHF? Curious how long it takes to be processed.
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18.02.2019, 00:51
| | Member | | Join Date: Nov 2015 Location: Zug
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| | | Re: Multi Currency Credit Card ["Revolut"]
@soswiss
Sending from postfinance it’s next day, usually around midday after overnight processing I guess.
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18.02.2019, 07:06
| | Forum Legend | | Join Date: May 2011 Location: Zurich
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| | | Re: Multi Currency Credit Card ["Revolut"]
| Quote: | | | | | Has anyone tried topping up by bank transfer in CHF? Curious how long it takes to be processed. | | | | | Took 2 days with UBS
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18.02.2019, 08:08
| | Member | | Join Date: Jul 2011 Location: Zürich
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| | | Re: Multi Currency Credit Card ["Revolut"]
Similar here, took between 1-2 working days with Credit Suisse.
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Yesterday, 11:16
| | Forum Veteran | | Join Date: Oct 2014 Location: Nyon
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| | | Re: Multi Currency Credit Card ["Revolut"]
Where can one find this Swiss IBAN?
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Yesterday, 11:59
| | Forum Legend | | Join Date: May 2011 Location: Zurich
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| | | Re: Multi Currency Credit Card ["Revolut"]
| Quote: | | | | | Where can one find this Swiss IBAN? | | | | |
If you have the Revolut app? Go to the part on transfering money, choose CHF and it will show you the IBAN
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