Card payments abroad
Discussion
The Curve card is another worth looking at, I'm not sure what to call it exactly as its not a credit card, a debit card or a prepay card. The best way I can describe it is a proxy or man-in-the-middle card that re-charges any transaction made to a normal bank/credit card that it's linked to, but because Curve handle the currency conversion (at a better rate with no fees) before charging your own card in GBP it's cheaper than using your regular card directly.
I used mine in Dubai last year and several times when inserting the card the machines gave the choice of paying in local currency or GBP using the default Matercard exchange rate (as most card machines tend to do with GBP cards). I made a mental note of the GBP price offered but always selected local currency so Curve paid in Dirhams then handled the currency exchange before charging my credit card in GBP and it was always a couple of quid cheaper on a ~£50 transaction.
Its also free and seems to have similar smart features as Revolut with an app giving instant notifications of transactions, the ability to block the card if lost, to change the pin and reassign it to multiple Debit/Credit cards for personal/business expense splitting etc. Revolut does look good though and probably gives a slightly better exchange rate if its true inter-bank rate (Curve is 1% above "wholesale rate") but Curve seems less faff because it's just linked to your Credit Card with no underlying account that needs topping up beforehand so the card can sit dormant in your pocket until you need to use it.
I used mine in Dubai last year and several times when inserting the card the machines gave the choice of paying in local currency or GBP using the default Matercard exchange rate (as most card machines tend to do with GBP cards). I made a mental note of the GBP price offered but always selected local currency so Curve paid in Dirhams then handled the currency exchange before charging my credit card in GBP and it was always a couple of quid cheaper on a ~£50 transaction.
Its also free and seems to have similar smart features as Revolut with an app giving instant notifications of transactions, the ability to block the card if lost, to change the pin and reassign it to multiple Debit/Credit cards for personal/business expense splitting etc. Revolut does look good though and probably gives a slightly better exchange rate if its true inter-bank rate (Curve is 1% above "wholesale rate") but Curve seems less faff because it's just linked to your Credit Card with no underlying account that needs topping up beforehand so the card can sit dormant in your pocket until you need to use it.
Edited by LocoBlade on Tuesday 6th March 19:53
Currently I have a post office international free spend card I use for all my transactions overseas and take some cash with me to cover the small things I need when I am in Europe.
I also tend to use paypal to send as a "gift" to my brother in Australia as the bank charges a fortune to send him money for his birthday or xmas for example.
I guess if i get a Revolut account and transfer cash to it rather than use the credit card I can then take cash out when and where I like if need be but can I send funds to Oz for free?
I guess Revolut is a lower rate than say the credit card to?
I also tend to use paypal to send as a "gift" to my brother in Australia as the bank charges a fortune to send him money for his birthday or xmas for example.
I guess if i get a Revolut account and transfer cash to it rather than use the credit card I can then take cash out when and where I like if need be but can I send funds to Oz for free?
I guess Revolut is a lower rate than say the credit card to?
David Beer said:
As I have said, I know 3% is high but correct me if I am wrong, but does Amex not get the best exchange rates or is it to justify the annual charges ?
No, Amex use their own rate based on the previous days interbank rate. It’s not live. Whether it’s ‘best’ or not would depend on the FX move since they fixed their rate.Furthermore, if the currency is not USD they convert to USD then GBP.
For 3%....
Edited by DoubleSix on Wednesday 7th March 20:25
Another big Revolut user here.
Currently sat in Myanmar, having just checked out of my hotel paid with Revolut, waiting for a flight also paid for by Revolut. Helps that here and Cambodia have all charges in USD as it’s one of their main currencies.
Particularly useful as a premium user is the transfers abroad at no cost. I’ve used it to send money mainly to the USA but also Oz, no charges if you’re premium so can do small transfers as and when needed. Big fan and find the app great.
Currently sat in Myanmar, having just checked out of my hotel paid with Revolut, waiting for a flight also paid for by Revolut. Helps that here and Cambodia have all charges in USD as it’s one of their main currencies.
Particularly useful as a premium user is the transfers abroad at no cost. I’ve used it to send money mainly to the USA but also Oz, no charges if you’re premium so can do small transfers as and when needed. Big fan and find the app great.
HotJambalaya said:
Another big Revolut user here.
Currently sat in Myanmar, having just checked out of my hotel paid with Revolut, waiting for a flight also paid for by Revolut. Helps that here and Cambodia have all charges in USD as it’s one of their main currencies.
Particularly useful as a premium user is the transfers abroad at no cost. I’ve used it to send money mainly to the USA but also Oz, no charges if you’re premium so can do small transfers as and when needed. Big fan and find the app great.
FYI Sending money abroad is free for standard users too.Currently sat in Myanmar, having just checked out of my hotel paid with Revolut, waiting for a flight also paid for by Revolut. Helps that here and Cambodia have all charges in USD as it’s one of their main currencies.
Particularly useful as a premium user is the transfers abroad at no cost. I’ve used it to send money mainly to the USA but also Oz, no charges if you’re premium so can do small transfers as and when needed. Big fan and find the app great.
It’s only faster (Turbo) payments that premium users get free.
After reading this thread I have signed up for Revolut and received my card today.
I'm only a holiday traveller but the whole process of signing up, getting and using the app and ordering the card has been totally simple. I have got used to life seemingly being made more complicated than it need be.
Mine is a Visa contactless. Will be very useful to have a card one can happily take out for an evening with little to worry about if one gets pickpocketed. I presume one can top up from ones current account whilst sitting in a cafe in Antibes!
I'm only a holiday traveller but the whole process of signing up, getting and using the app and ordering the card has been totally simple. I have got used to life seemingly being made more complicated than it need be.
Mine is a Visa contactless. Will be very useful to have a card one can happily take out for an evening with little to worry about if one gets pickpocketed. I presume one can top up from ones current account whilst sitting in a cafe in Antibes!
silverthorn2151 said:
After reading this thread I have signed up for Revolut and received my card today.
I'm only a holiday traveller but the whole process of signing up, getting and using the app and ordering the card has been totally simple. I have got used to life seemingly being made more complicated than it need be.
Mine is a Visa contactless. Will be very useful to have a card one can happily take out for an evening with little to worry about if one gets pickpocketed. I presume one can top up from ones current account whilst sitting in a cafe in Antibes!
from my understanding yes and when you do you will get the rate at that moment in time which maybe different to when you move other funds into your account.I'm only a holiday traveller but the whole process of signing up, getting and using the app and ordering the card has been totally simple. I have got used to life seemingly being made more complicated than it need be.
Mine is a Visa contactless. Will be very useful to have a card one can happily take out for an evening with little to worry about if one gets pickpocketed. I presume one can top up from ones current account whilst sitting in a cafe in Antibes!
Kev_Mk3 said:
from my understanding yes and when you do you will get the rate at that moment in time which maybe different to when you move other funds into your account.
You load it in your local currency, then you can either convert it there and then or let it drip feed by transaction.You can load the card anytime you have internet signal.
One thing I haven't had great success with is it dipping into my 'home' currency account if the domestic currency account is short of funds for the transaction - these transactions have been declined for me (and I've seen a mate of mine experience the same thing).
While the Revolut thing looks all nice and 'trendy', I don't see what it offers on a pure financial basis more than the Clarity card? Seems to just be a startup with bells and whistles - all of which I'd happily trade to avoid the risk of relying on a VC backed startup company that could go pop at any time (ie when I'm overseas).
The only 'bell and whistle' I'd like to see is an app that shows where there are cash ATMs with no local fee that is reliable and comprehensive in all countries. I use my clarity a lot for no-fee cash so I get annoyed when there's only dodgy ATMs in some random location I find myself.
The only 'bell and whistle' I'd like to see is an app that shows where there are cash ATMs with no local fee that is reliable and comprehensive in all countries. I use my clarity a lot for no-fee cash so I get annoyed when there's only dodgy ATMs in some random location I find myself.
eein said:
While the Revolut thing looks all nice and 'trendy', I don't see what it offers on a pure financial basis more than the Clarity card? Seems to just be a startup with bells and whistles - all of which I'd happily trade to avoid the risk of relying on a VC backed startup company that could go pop at any time (ie when I'm overseas).
The only 'bell and whistle' I'd like to see is an app that shows where there are cash ATMs with no local fee that is reliable and comprehensive in all countries. I use my clarity a lot for no-fee cash so I get annoyed when there's only dodgy ATMs in some random location I find myself.
What Revolut offers? The only 'bell and whistle' I'd like to see is an app that shows where there are cash ATMs with no local fee that is reliable and comprehensive in all countries. I use my clarity a lot for no-fee cash so I get annoyed when there's only dodgy ATMs in some random location I find myself.
No fees for taking out at cashpoints, exchange rates based on the actual rate that day not the mastercard one, you can load if from your bank account real time using your smart phone.
I wouldnt use a Revolut card as my only card but I usually travel with 3 or 4 anyhow , I dont worry about them going bust as I never have a large amount of credit in there I just load it as I go
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