We love travelling hence we spend money all over the world. One problem which occurs when you travel lots is the fact that you get charged a lot of fees paying in foreign currencies. Even worse when you want to withdraw cash at an ATM machine. It was always annoying figuring out where to get money paying the lowest fees. Till we found Revolut.
This won’t be any fancy financial report as you might have seen on other websites. We want to keep it simple and give you a quick and short review on a product we think is useful for any frequent traveler who wants to get the most out of their money.
For us Revolut is a game changer living a traveler’s life. In general we are talking about a bank. But this one is only on a digital basis through an app. Revolut is offering you an interbank exchange rate for over 150 currencies allows you to have the best possible rate you can get. Interbank exchange rate? This real-time rate is used by banks to swap currencies between one another. As it is real-time it is also dynamic, which means it is changing in the Revolut App or on their website. Important to say is that you get the interbank exchange rate from Monday to Friday. As the rates are fixed over the weekend (Saturday to Sunday) to protect them against fluctuations, you get charged a small weekend fee which is 0.5% for all regular currencies and 1% for Thai Baht and Ukrainian Hryvnia.
Is it limited? Kind of. If you want to spend more than 6.000€ a month you get charged 0.5% for everything above. But let’s be honest, 6.000€ is more than enough for the average traveler per month.
If you want to withdraw cash, you get 200€ a month from ATM machines without paying a fee. As Revolut needs to cover their costs somehow, everything over these 200€ will cost you a 2% fee. Which is still a pretty good deal comparing it with fees you get charged by other banks.
Another pretty cool add on is, that you can purchase the Revolut travel health insurance for 1£ (Pound) a day is. Let’s be honest, if you tent to get sick easily and you are on vacation, you are probably not in the mood to worry about how to pay a huge amount for a doctor or even more. In our opinion, 1£ a day is a fair price to dispel these worries for you.
There are three different pricing plans you can choose from:
Sign up for your own Revolut banking account.
Glotting
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