DavidJ
Well-Known Member
That is worrying
I wonder how many people actually work for these companies. The fact that Resolut has weekends off does imply a guy in an attic who just leaves his PC running. (I exaggerate but you get my point)
Revolut any good? to pay broker in Euros for a boat
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I wonder how many people actually work for these companies. The fact that Resolut has weekends off does imply a guy in an attic who just leaves his PC running. (I exaggerate but you get my point)
DavidJ
Well-Known Member
Oddly John Lewis is really good for euro cash if you take “Partnership Points“ into account.
Just bought £1000 worth
Got 1161.8 EUR
plus 1250 points which comes in vouchers worth £12.50
So for £1000-£12.50 which is £987.50 I’ve got 1161.80 EUR
which gives an exchange rate of 1.1765 (XE 1.1842)
I know it’s vouchers and the cost to JL is a lot less but for me it works (Especially for SHMBO!)
Just bought £1000 worth
Got 1161.8 EUR
plus 1250 points which comes in vouchers worth £12.50
So for £1000-£12.50 which is £987.50 I’ve got 1161.80 EUR
which gives an exchange rate of 1.1765 (XE 1.1842)
I know it’s vouchers and the cost to JL is a lot less but for me it works (Especially for SHMBO!)
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julians
Well-Known Member
Revolut - Wikipedia
revolut valued at $33 billion - making it the most valuable uk start up in history
1596 employees
Doesnt mean its not going to go bust/run off with your money, but it looks a reasonably safe bet if you take sensible precautions like not leaving a lot of money in the account for an extended period, and work within the limitations of their service - ie dont make an foreign exchange purchase at weekends - they're pretty up front/open about the fact that if you buy/sell currency at weekends you're not going to get the best rate.
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dpb
Well-Known Member
We have just gone through this in France.
We have a Caxton card for everyday use but the limits were too low to use for boat purchase, even for deposit.
Once we found the boat, I started to look at using transfer services but found that we had enough to worry about with the boat purchase without looking into money transfer services about which we had no experience as well.
So for peace of mind I stuck with my normal high street bank.
The 5% deposit went though with a not particularly good rate, but the balance was large enough to trigger a much better rate than I was expecting which was much closer to what the transfer services were offering. The difference being a price I was happy to pay for piece of mind.
If I was doing this again I would, with large sum international transfers not being part of my normal life, spend more time researching this part of the buying process before the event, just as the OP is now!
We have a Caxton card for everyday use but the limits were too low to use for boat purchase, even for deposit.
Once we found the boat, I started to look at using transfer services but found that we had enough to worry about with the boat purchase without looking into money transfer services about which we had no experience as well.
So for peace of mind I stuck with my normal high street bank.
The 5% deposit went though with a not particularly good rate, but the balance was large enough to trigger a much better rate than I was expecting which was much closer to what the transfer services were offering. The difference being a price I was happy to pay for piece of mind.
If I was doing this again I would, with large sum international transfers not being part of my normal life, spend more time researching this part of the buying process before the event, just as the OP is now!
oldbloke
Well-Known Member
When we were buying a house in Spain, we used TorFx. Their rates were competitive and I was in contact with the same , real, person whenever I needed (usually my error).
Now I use Starling which I find great, especially the ability to load my euro account when the rate is good as well as for payments in euros from the sterling account as needed.
For the rest of the world WeSwap is good and cost effective as long as you don't mind preloaded the card
Now I use Starling which I find great, especially the ability to load my euro account when the rate is good as well as for payments in euros from the sterling account as needed.
For the rest of the world WeSwap is good and cost effective as long as you don't mind preloaded the card
DavidJ
Well-Known Member
When I went to pickup my John Lewis euros from Waitrose, the guy there said he uses Starling. Don’t you just love company loyalty.
markc
Well-Known Member
I've used Revolut for a number of years and have been really happy. The 'not at weekends' is because the markets are closed so they protect their margin. For regular use abroad, just make sure you have a Euros balance when spending out of hours to avoid the higher rates. Another benefit to me is that I have free junior accounts for my kids and they get a contactless card (7+) so they get their pocket money automatically, and they can take their card abroad for holiday spending.
chamac
Well-Known Member
I used my revolut card to pay for a large SBS trailer in Sterling from Ireland. Perfect. Exchange funds during business hours to get lowest exchange rates.
DavidJ
Well-Known Member
I just use the £ to € money transfer bit of Revolut. With a card do you just load it and use it (until you run out)
Is there a card fee?
chamac
Well-Known Member
Transfer what you need to spend to revolut from your local bank. Exchange and pay online or over phone. No obvious fee. They may have a small spread on the exchange rate.
DavidJ
Well-Known Member
Many thanks. That‘s a lot clearer than their website.
I wonder if it works on French toll roads, my old Fairfx never used to.
chamac
Well-Known Member
Mine is a Visa so should work ok if loaded with some €
oldbloke
Well-Known Member
One of my sons works for Revolut. When I challenged him on the rubbishness of the website, he said that only old people look on the website. Their target demographic download the app and take it from there.
I have a Starling account!
alt
Well-Known Member
Doesn't have to be loaded with any particular currency. For example, if I have € in my account and purchase £, it just takes it out of the € account.
Where you can get caught out.... if I had 0.01p £ in my account and attempt to purchase in £ (say, 0.02p) it will show as insufficient funds! So remember, if you're buying in a particular currently, either have enough of it, or nothing at all.
