I discover having to take care of overseas forex on the highway an actual ache. In Singapore I barely use money lately, principally opting to make use of Paywave (contactless bank card) or Paynow (direct financial institution transfers often through QR code) when doable, however money nonetheless stays king in lots of different international locations. On previous journeys, I’ve tried utilizing Youtrip, Sensible and Belief Card, so when Revolut (affiliate hyperlink) approached me to take a look at their choices, I used to be eager to see how they’d match up. Right here’s my evaluate of utilizing Revolut for travelling.
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To place it merely, Revolut works like a debit card once you’re travelling. For travellers utilizing the cardboard abroad, you should utilize the Revolut card to:
spend overseas forex such as you would use a debit card
retailer cash to be used
alternate cash to foreign currency as wanted to be used/storage
withdraw overseas forex abroad
switch cash to overseas accounts
on-line buying in native and overseas forex
You should utilize it for cryptocurrency and shares as effectively, however I don’t actually know something about that so my essential concern was how Revolut would work for a traveller like myself.
I used the Revolut card on my newest journey to Taiwan. Taiwan continues to be fairly cash-dependent total (not like South Korea for instance the place you should utilize bank cards virtually anyplace), so I principally used Revolut card in comfort shops and when my lodging or restaurant would settle for card funds.
What I like about Revolut
Respectable Free Tier
I’m utilizing the free tier of Revolut – there are 2 paid tiers: Premium (S$9.99/mth) and Metallic (S$19.99/mth) which I actually don’t suppose you’ll want until you’re a significantly heavy consumer and must withdraw or alternate very excessive quantities of overseas alternate. The free tier is fairly okay for holidays, but when I used to be on an extended journey Profession Break I believe I would want the premium tiers for extra cash withdrawal.
Different Premium/Metallic journey perks that Revolut has embrace:
lounge entry with sensible delay
discounted lounge entry
journey insurance coverage
These usually are not issues that matter a lot to me as a result of I both don’t want or have it already, but it surely may very well be helpful for a few of you on the market.
Simple to arrange and use
Signing up for the cardboard was a reasonably fast and easy course of. I downloaded the app from the Apple Retailer and signed up through my Singpass, ordered my free card by the app as effectively very simply.
The one factor I would love although can be to decide on the identify to placed on my card. Normally I take advantage of a shorter model somewhat than my total identify, however because it mechanically pulls from the official knowledge, my full identify is on the cardboard.
The app can be fairly simple to make use of throughout. Some banking apps drive me nuts when issues are too effectively hidden, prefer it took me ceaselessly to seek out the place to swap between accounts for Belief Card for instance. Thus far I’m liking the Revolut interface and app.
Good alternate charges
I examined the cardboard out whereas I used to be in Taiwan, paying for certainly one of my lodges with it. My price was NTD 1 = S$0.0433 (NTD 100 = S$4.33) with no extra conversion or admin charges. Belief Card had comparable charges as effectively after I used it previously.
I did change some cash on the Changi Airport earlier than I flew off and the speed I obtained was about NTD 100 = $4.60, so positively significantly better alternate charges on the Revolut card than in money!
You possibly can alternate as much as 28+ currencies and maintain that in your account. A few of the extra related currencies (i.e. locations that Singaporeans like to journey to greatest) embrace USD, GBP, EUR, AUD, HKD, JPY, THB. Nice should you monitor the charges carefully and want to alternate a sizeable quantity. ($5k restrict free of charge tier, $15k for Premium and limitless for Metallic)
Taiwan greenback isn’t included on this record, however you possibly can nonetheless use the Revolut card in Taiwan, simply be sure you have sufficient of your house forex (SGD for me) and the forex alternate occurs mechanically. I like that they present the charges very clearly as effectively within the transaction particulars.
A observe that on weekends there’s a 1% cost, which isn’t one thing I’ve seen on different playing cards and actually a bit odd to me, however one thing to pay attention to.
Free 2-way interbank switch
I linked Revolut to my Singapore checking account and it’s each free and tremendous fast to switch cash between my accounts cash. After the preliminary arrange, I don’t even must key in any extra financial institution particulars. Good if you should make fast transactions on the go.
Additionally, I like which you can truly withdraw cash from Revolut again to your checking account – I simply want so as to add myself as a payee and switch a refund to myself nearly immediately. Some playing cards like Youtrip are 1-way solely, so should you misjudge and add too little to the Youtrip pockets, your card runs the chance of being rejected. In the event you add an excessive amount of, you might be then pressured to spend from that card or go away the cash in there.
For Singaporeans, Revolut makes use of e-Giro so you possibly can instantly hyperlink to accounts in main banks together with Financial institution of China, DBS, Maybank, OCBC, Commonplace Chartered and UOB.
Safer on-line safety
Revolut additionally makes it simple to arrange and use disposable playing cards. That is particularly helpful if you’re a bit nervous in regards to the safety of a few of these on-line outlets. I haven’t had the prospect to make use of this but (juggling round too many playing cards to make minimal spends for cashback and different rewards) but it surely’s one thing I may see myself utilizing.
So should you’re on the lookout for a card to make use of for spending whereas travelling, you possibly can take a look at the Revolut card and see if it really works for you, total my expertise with the cardboard was fairly good. I’ve a hyperlink beneath that allows you to get 3 months of premium free should you’re contemplating utilizing the upper tiers as effectively.
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