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A comment on Show HN: World’s first £3 flat fee (0% FX markup) money transfer service. Parent comment

Re:Show HN: World’s first £3 flat fee (0% FX markup) money t... by wdaareg on Wednesday March 09, 2022 @04:33AM (#30612590)
On their standard plan, with the first £1k you're not paying for currency conversion, but you're paying a fee for the "international payment". I think that's a 0.3% fee capped at £5, but for a £1k transfer, that's a £3 fee right there. You can see this in their fee structure.

https://www.revolut.com/legal/standard-fees ("A fee applies for international payments on our Standard and Plus plans")

https://assets.revolut.com/legal/terms/International_Payment...

If you're a die-hard Revolut user that subscribes for other reasons or do all your global banking with them, it's possible you'll end up with better overall economics with them. That segment of customers is fairly narrow and we're excited to offer everyone else a world-leading service.

[ Parent | on HN ]
Re:Show HN: World’s first £3 flat fee (0% FX markup) money t... by actuator on Wednesday March 09, 2022 @04:43AM (#30612659)
> I think that's a 0.3% fee capped at £5, but for a £1k transfer, that's a £3 fee right there. You can see this in their fee structure.

Got it, this seems new and significant. I had transferred money to Germany before in January and it was free without a paid plan too.

This does add an edge to your product, if the person can wait. Best of luck with your product.

[ Parent | on HN ]