All about Revolut

Hell Yeah!

That’s a very good news :slight_smile:
I can ditch my TW and simpilfy my transfers now :slight_smile:

1 Like

Thanks for the update about the IBAN :wink:
Now we can transfer money to the account without any fees, perfect.

Confirmed it worked with no fees from my Zak account. Can ditch TW as well.

1 Like

Where can you see their account number in the Revolut app?

If you click the (+) next to your CHF balance, then choose “Bank transfer” as a payment means, it will give you all the info including a reference number and Swiss IBAN at Credit Suisse.

2 Likes

Can confirm CH IBAN is working without fees.

Ironically it was slightly slower than the Transferwise Method since Revolut took longer to confirm the payment XD (This might get better with future transactions).

1 Like

Guys what did you choose for the type of the card - Visa, Maestro, MasterCard?
I’d guess Visa and MC have a bit higher prevalence/acceptance around the world, but might be mistaken.

The one that is free. Visa.

So is Maestro :slight_smile:

Really?! I started using Revolut 1 year ago and the only they have free was Visa :smile:

Some interesting evidence of usually hidden forex rates of credit cards (only german)

https://www.handelszeitung.ch/unternehmen/kreditkarten-ausland-kosten-sind-hoher-als-ausgewiesen

2 Likes

I cant wait for the swiss banks to try some protectionist maneuver like they did with FIDLEG to protect their market

2 Likes

Can someone enlighten an ignorant fool like myself and explain what’s so great about Revolut? Is it the free account and credit card?

Bank Cler also offers free accounts and a free credit card I think.

Well @hedgehog says it all on the OP. No ripoff exchange rates is the main reason.

2 Likes

And improved from the original post:

  • Free CHF top-ups via bank transfer from any Swiss account (that took a while to happen, but it’s there now)
  • Free delivery for the credit card if you use someone’s referral link (you can probably MP any forum member to get one)
3 Likes

It’s a multi-currency credit card which allows you to make forex trades at no cost. So you can do CHF > EUR > CHF and get almost the same amount you started with.

So if you’re on holiday and would like to spend an equivalent of 1000 CHF, you will find that either your credit card company or some bank will charge you 3% for currency exchange, or sometimes more.

If you’re happy to pay 30 CHF for the convenience of spending 1000 CHF in a foreign currency, then you don’t need Revolut.

2 Likes

Also, what I find very useful (but it depends on the number of your friends using it), that it’s very easy to send/receive money, e.g. to pay in restaurant, for kids birthday gifts etc.

Most people I know use Twint for this kind of usage in Switzerland

Yes, I’ve heard about it, but…amongst my friends, nobody uses it :D.

Thanks everyone for your replies. Just opened an account :smiley:

Should come in handy when I’m abroad next month.

1 Like