Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #661  
Old 12.12.2019, 13:20
Senior Member
 
Join Date: Jan 2014
Location: Lausanne
Posts: 479
Groaned at 43 Times in 24 Posts
Thanked 502 Times in 285 Posts
dandi has an excellent reputationdandi has an excellent reputationdandi has an excellent reputationdandi has an excellent reputation
Re: Multi Currency Credit Card ["Revolut"]

Quote:
View Post
Revolut recently changed their process for Swiss bank transfers (charging up your Revolut accout).

I've seen this about a month ago when I did my last transfer - the reference indicated in their app already includes all these details, and there is a warning note next to it. I always check the reference in the app before doing a transfer...
Reply With Quote
This user would like to thank dandi for this useful post:
  #662  
Old 12.12.2019, 13:26
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 13,632
Groaned at 269 Times in 175 Posts
Thanked 16,542 Times in 7,033 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: Multi Currency Credit Card ["Revolut"]

Quote:
View Post
Revolut recently changed their process for Swiss bank transfers (charging up your Revolut accout). It used to be enough to just use your unique reference number (in the desc field) when you did a transfer but now if you do that the payment will be auto-rejected and it could take a week for the money to be returned to your bank (UBS in my case).

What you now need to add to the description field of your transfer is:
  • Unique reference
  • The full beneficiary name
  • Country of residence

All on different lines. I found all this out through Revolut customer services , backed up by the Revolut forums. I'm really unimpressed with Revolut on this, Transferwise doesn't have this rule but then it could be how they structured their Swiss Bank accounts.
revolut sent a specific notification to warn on this via the app and also list the new reference in the app when you ask for transfer details. in effect your unique reference number has been made longer
Reply With Quote
  #663  
Old 12.12.2019, 13:26
Castro's Avatar
à la mod
 
Join Date: Nov 2007
Location: Basel-Land of Smiles
Posts: 5,315
Groaned at 106 Times in 84 Posts
Thanked 15,614 Times in 5,011 Posts
Castro has a reputation beyond reputeCastro has a reputation beyond reputeCastro has a reputation beyond reputeCastro has a reputation beyond reputeCastro has a reputation beyond reputeCastro has a reputation beyond repute
Re: Multi Currency Credit Card ["Revolut"]

Quote:
View Post
I've seen this about a month ago when I did my last transfer - the reference indicated in their app already includes all these details, and there is a warning note next to it. I always check the reference in the app before doing a transfer...
Indeed, but I had a recurring payment set up from UBS so only found out when the money didn't arrive a week later. An email or push notification would have been more useful.
Reply With Quote
  #664  
Old 12.12.2019, 13:52
Senior Member
 
Join Date: Jan 2014
Location: Lausanne
Posts: 479
Groaned at 43 Times in 24 Posts
Thanked 502 Times in 285 Posts
dandi has an excellent reputationdandi has an excellent reputationdandi has an excellent reputationdandi has an excellent reputation
Re: Multi Currency Credit Card ["Revolut"]

Quote:
View Post
An email or push notification would have been more useful.

I think there was a notification - but their "notifications management" is a bit wanting IMHO. At least on my Android when I get a notifications and I must read it in the notification bar, otherwise if I tap on it an open the app it's gone forever.


I agree there still are many things that could be improved...
Reply With Quote
  #665  
Old 01.01.2020, 17:43
Newbie
 
Join Date: Oct 2016
Location: Basel
Posts: 4
Groaned at 0 Times in 0 Posts
Thanked 1 Time in 1 Post
caodatou has no particular reputation at present
Re: Multi Currency Credit Card ["Revolut"]

Just an update - as of Dec 18th 2019, there is Swiss IBAN (by Credit Suisse) supported by Revolut, therefore we could direct transfer CHF to Revolut without hassle.
Reply With Quote
  #666  
Old 01.01.2020, 17:56
Member
 
Join Date: Nov 2015
Location: Zug
Posts: 172
Groaned at 2 Times in 1 Post
Thanked 59 Times in 35 Posts
wheatism has made some interesting contributions
Re: Multi Currency Credit Card ["Revolut"]

Quote:
View Post
... there is Swiss IBAN (by Credit Suisse) supported by Revolut....
Where do you see that info? If I look at my CHF account the IBAN is the UK GB88 one and it states only SWIFT transfers are accepted.

It could be dependant on your base currency defined by your "Home address". If you're defined as based in Switzerland maybe your lucky... My base currency is GBP/UK.

But I hope I'm wrong and you are right, although it's only a minor hassle going via Transferwise for freee CHF transfers to Revolut it's a step I'd like to avoid if possible :-)
Reply With Quote
  #667  
Old 06.01.2020, 09:36
Newbie
 
Join Date: Oct 2016
Location: Basel
Posts: 4
Groaned at 0 Times in 0 Posts
Thanked 1 Time in 1 Post
caodatou has no particular reputation at present
Re: Multi Currency Credit Card ["Revolut"]

Quote:
View Post
Where do you see that info? If I look at my CHF account the IBAN is the UK GB88 one and it states only SWIFT transfers are accepted.

It could be dependant on your base currency defined by your "Home address". If you're defined as based in Switzerland maybe your lucky... My base currency is GBP/UK.

But I hope I'm wrong and you are right, although it's only a minor hassle going via Transferwise for freee CHF transfers to Revolut it's a step I'd like to avoid if possible :-)
Yes my base country is Switzerland. I can see the CHF account showing Swiss IBAN CH37.
Reply With Quote
This user would like to thank caodatou for this useful post:
  #668  
Old 06.01.2020, 10:01
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 13,632
Groaned at 269 Times in 175 Posts
Thanked 16,542 Times in 7,033 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: Multi Currency Credit Card ["Revolut"]

I remember specifically asking for my base currency to be switched to CHF. I have a Swiss IBAN to make deposits (and have had this for a long time).
Reply With Quote
This user would like to thank Phil_MCR for this useful post:
  #669  
Old 06.01.2020, 15:13
Member
 
Join Date: Nov 2015
Location: Zug
Posts: 172
Groaned at 2 Times in 1 Post
Thanked 59 Times in 35 Posts
wheatism has made some interesting contributions
Re: Multi Currency Credit Card ["Revolut"]

Quote:
View Post
Yes my base country is Switzerland....

Thanks, I "switched" to GBP so I could use the Trading feature but may switch back to CHF again in the future. Thanks for confirming.
Reply With Quote
  #670  
Old 11.06.2020, 12:02
Junior Member
 
Join Date: Jul 2015
Location: Zurich
Posts: 91
Groaned at 4 Times in 3 Posts
Thanked 53 Times in 29 Posts
RoastedRhino has earned some respectRoastedRhino has earned some respect
Revolut lowered the limit for 0 foreign transactions fees... now what?

I just received a notice by Revolut that the monthly limit for free conversion to foreign currency has been lowered to CHF 1250. After that is 0.5%



Anybody has a better solution?
Zero transaction fees credit cards at a reasonable price?
FX services (I have an EUR account that I could fund in advance if needed, but still...)


Thanks!
Reply With Quote
This user would like to thank RoastedRhino for this useful post:
  #671  
Old 11.06.2020, 12:33
Dack Rambo's Avatar
Forum Legend
 
Join Date: Mar 2010
Location: Switzerland
Posts: 2,851
Groaned at 189 Times in 116 Posts
Thanked 1,828 Times in 899 Posts
Dack Rambo has an excellent reputationDack Rambo has an excellent reputationDack Rambo has an excellent reputationDack Rambo has an excellent reputation
Re: Revolut lowered the limit for 0 foreign transactions fees... now what?

Quote:
View Post
I just received a notice by Revolut that the monthly limit for free conversion to foreign currency has been lowered to CHF 1250. After that is 0.5%



Anybody has a better solution?
Zero transaction fees credit cards at a reasonable price?
FX services (I have an EUR account that I could fund in advance if needed, but still...)


Thanks!

Transferwise?
Reply With Quote
This user would like to thank Dack Rambo for this useful post:
  #672  
Old 11.06.2020, 12:46
taduncombe's Avatar
Junior Member
 
Join Date: Jun 2017
Location: Basel
Posts: 72
Groaned at 11 Times in 11 Posts
Thanked 270 Times in 107 Posts
taduncombe has earned the respect of manytaduncombe has earned the respect of manytaduncombe has earned the respect of many
Re: Revolut lowered the limit for 0 foreign transactions fees... now what?

They've also increased the weekend fee to 1% from 0.5%.

It's a bummer. 5k CHF per month was plenty for me to move whatever I needed back to the states. 1.25k isn't going to cut it for some months.

Transferwise has a 1.21 CHF fixed fee + 0.35% fee from CHF to USD (other currencies vary). At around 5k they have an equal fee. Above, Transferwise is better, below, Revolut is better. I guess I'll stick to Revolut unless I have a big transfer.
Reply With Quote
This user would like to thank taduncombe for this useful post:
  #673  
Old 11.06.2020, 14:25
Senior Member
 
Join Date: Jan 2014
Location: Lausanne
Posts: 479
Groaned at 43 Times in 24 Posts
Thanked 502 Times in 285 Posts
dandi has an excellent reputationdandi has an excellent reputationdandi has an excellent reputationdandi has an excellent reputation
Re: Revolut lowered the limit for 0 foreign transactions fees... now what?

Quote:
View Post
I just received a notice by Revolut that the monthly limit for free conversion to foreign currency has been lowered to CHF 1250. After that is 0.5%
Quote:
View Post
They've also increased the weekend fee to 1% from 0.5%.
Those two things together are the bummer for me. Since I use the card mostly on holidays and weekend trips, it means there will be months where I spend more than 1k in weekends in a foreign currency. Thus I can not avoid fees - if I don't convert the currency in advance I get slapped by the weekend fee, and I can not convert in advance sufficiently without incurring a fee.

Otherwise one would have to convert regularly and store money months in advance, blocking cash that can be used elsewhere...

I guess they have to make money somehow.
Reply With Quote
  #674  
Old 11.06.2020, 15:01
roegner's Avatar
Moderately Dutch
 
Join Date: May 2011
Location: Zurich
Posts: 10,048
Groaned at 341 Times in 283 Posts
Thanked 11,763 Times in 5,729 Posts
roegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond repute
Re: Revolut lowered the limit for 0 foreign transactions fees... now what?

Quote:
View Post
I just received a notice by Revolut that the monthly limit for free conversion to foreign currency has been lowered to CHF 1250. After that is 0.5%
I got my card back then in Germany and the free conversion amount was EUR 6,000 so that is a huge change to EUR 1,000 now....... bugger.....

Seems they want to force people on their paid plan.... for me to look for something else as well.
Reply With Quote
  #675  
Old 11.06.2020, 15:39
Forum Veteran
 
Join Date: Jan 2016
Location: Lugano
Posts: 842
Groaned at 15 Times in 13 Posts
Thanked 932 Times in 442 Posts
LuganoPirate has a reputation beyond reputeLuganoPirate has a reputation beyond reputeLuganoPirate has a reputation beyond reputeLuganoPirate has a reputation beyond repute
Re: Revolut lowered the limit for 0 foreign transactions fees... now what?

If you upgrade to a paid plan, it stays free. I think the annual cost is +- £84.00 so i guess it's a calculation as to which is cheaper.
Reply With Quote
  #676  
Old 11.06.2020, 15:43
roegner's Avatar
Moderately Dutch
 
Join Date: May 2011
Location: Zurich
Posts: 10,048
Groaned at 341 Times in 283 Posts
Thanked 11,763 Times in 5,729 Posts
roegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond repute
Re: Revolut lowered the limit for 0 foreign transactions fees... now what?

Quote:
View Post
If you upgrade to a paid plan, it stays free. I think the annual cost is +- £84.00 so i guess it's a calculation as to which is cheaper.
Exactly, in EUR 7,99 per month. Still, I want to check first what else is available on the market
Reply With Quote
  #677  
Old 11.06.2020, 17:33
Forum Veteran
 
Join Date: Aug 2011
Location: Risch
Posts: 637
Groaned at 27 Times in 17 Posts
Thanked 639 Times in 339 Posts
KiwiSteve has a reputation beyond reputeKiwiSteve has a reputation beyond reputeKiwiSteve has a reputation beyond reputeKiwiSteve has a reputation beyond repute
Re: Revolut lowered the limit for 0 foreign transactions fees... now what?

Of these:

https://www.top10moneytransfer.com/s...-online-ch-lo/


I have used OFX and transferwise for irregular transfers
Reply With Quote
  #678  
Old 28.06.2020, 11:03
The_Love_Doctor's Avatar
Forum Legend
 
Join Date: Aug 2009
Location: Zugerberg, Zug
Posts: 3,250
Groaned at 71 Times in 55 Posts
Thanked 3,641 Times in 1,723 Posts
The_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond repute
Re: Multi Currency Credit Card ["Revolut"]

Heads-up: Revolut lowering exchange fee free limit and introducing new fees as of 12th of August 2020.

More info: https://www.finews.com/news/english-...l-bank-fintech

(Someone created another thread, mods please merge)
Reply With Quote
  #679  
Old 30.06.2020, 09:48
Relagu's Avatar
Junior Member
 
Join Date: Nov 2019
Location: London
Posts: 30
Groaned at 0 Times in 0 Posts
Thanked 9 Times in 5 Posts
Relagu has no particular reputation at present
Re: Multi Currency Credit Card ["Revolut"]

Will I be able to use my Revolut to get my salary on there?

Ta
Reply With Quote
  #680  
Old 30.06.2020, 15:25
Junior Member
 
Join Date: Aug 2015
Location: Zürich
Posts: 82
Groaned at 2 Times in 2 Posts
Thanked 56 Times in 33 Posts
erchegyia has no particular reputation at present
Re: Multi Currency Credit Card ["Revolut"]

Quote:
View Post
Will I be able to use my Revolut to get my salary on there?

Ta
This is.a question for your employer.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Which currency to use for Credit Card when away from CH? JourneyMan Finance/banking/taxation 21 21.01.2013 15:07
Credit Suisse Credit card billing date elfe Finance/banking/taxation 5 13.11.2011 20:12
Paying a Credit Suisse Credit Card Online jerallie Finance/banking/taxation 8 06.10.2011 19:00
multi currency account freeworld Finance/banking/taxation 11 08.08.2011 11:53
AECS in Horgen - Credit Suisse's credit card business - somebody work there? Greg530 Finance/banking/taxation 9 15.04.2007 18:05


All times are GMT +2. The time now is 05:09.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0