Revolut account

[Wombatbum]

I’ve opened an account to use when we go to France - I’m just playing about with the app, do I need to transfer my money into Euros? I’ve just changed £5 to see what happens and now it shows my balance in £s and my balance in €. How would it know which balance to use for a transaction?

Apparently the exchange rate isn’t as good at weekends on Revolut and when you transfer your £ into € before the weekend you get a better rate?? I feel really confused and I’m finding it stressful

When you pay overseas it will ask you which currency you want to pay in. Select the local currency. In the UK it just charges GBP.
Rates are often better during the week as the stock exchange etc is open so they know what the real rate is. At the weekends they're taking a guess so they play it conservatively.

I used revolut for the first time when I went to Disneyland Paris and it was fine I've since used it in Spain a few times with no problems

I'm happy with Revolut - used in various countries with no problem.

Hi hope it's OK to ask on here - I'm visiting UK soon and was just going to use my revolut without exchanging my balance, so selecting to pay in GBP when tapping it - but confused now would I be better off actually using the exchange function instead? If that makes sense!

Thanks

I keep both gbp and euros in my account and the card just takes the local currency automatically.
I also have a slush fund, Revolut round up my transactions and save the change in my slush fund. It soon builds up.

I never transfer into currency, nor does it ask me which currency to pay in when I use my card (I occasionally see this when using my credit card and the advice is always to stay with the local currency). It all works perfectly

Thanks a mill @Pricklyheath and @CMOTDibbler (love your name btw 😂)
I'm just not sure what the benefit of actually changing my balance would be as I figured I'd just use it to pay and it would automatically exchange it, I use it already on amazon for this (and just never buy stuff at the weekend)
Love the round up feature too it's very handy

Does anybody know what the maximum number of vaults Revolut allows you to set up is?

The theory is that if you know today’s exchange rate is good and expected to change downward then you exchange £s today and take advantage later when on when rates are not so good Otherwise you just get the rate on the day you spend.

I have 4 @Mara24, but don't know what the max is sorry

Well this makes sense!

The other benefit of exchanging your money to local currency is that your balance will show correctly - it was a pain to leave to keep converting in my head! I'm sure that was obvious to most people but not me
Would definitely exchange it the next time