Revolut raises $500M at a $5.5B valuation

Re:Revolut raises $500M at a $5.5B valuation by Aeolun on Tuesday February 25, 2020 @07:43PM (#22419187)

> Do you know many other banks that let you withdraw abroad for less?

Abroad? Mostly a slight markup on the default exchange rate, which is hard to pin down, but certainly less than 2%.

But my problem is mostly this applies on any withdrawal. Not only abroad.

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Re:Revolut raises $500M at a $5.5B valuation by virgilp on Wednesday February 26, 2020 @05:31AM (#22421868)

Like I said, Revolut is not suitable as your only bank. But it can be awfully convenient as a second card.

WRT "certainly less than 2%" - you might be surprised, do double-check. Not all banks do, but many do here. It's most obvious here at Raiffeisen, where you can have EUR or USD cards (_with_ ATM fees) - or RON cards with no ATM fees (but if you think about checking the currency conversion rate, you're in for a nasty surprise). And again, bad currency conversion is far worse than 2% ATM fee, because it applies on all your purchases, whereas nowadays in many countries you don't actually need to withdraw money... not in excess of 200E/month, anyway.

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Re:Revolut raises $500M at a $5.5B valuation by zerd on Wednesday February 26, 2020 @04:00AM (#22421514)

Most European banks add 2% for currency conversion (in addition to non-market rates). Most Canadian banks add 2.5%. https://www.greedyrates.ca/blog/best-foreign-currency-exchan...

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