Best Way To Transfer Money - Revolut? - Page 2

Just to echo this, Revolut is a multi currency bank account.  Making payments from your EUR wallet to a Spanish bank account is just one thing you can do.  You can also do all of your usual banking (direct debits in GBP and EUR, savings accounts that actually pay interest), hold and make payments in multiple currencies, buy and sell shares, precious metals, cryptocurrencies...

I don't use Revolut as my sole account, but even so the process of moving money to Spain is astonishingly fast.  I make an online transfer from my main UK bank to Revolut.  My mobile instantly pings to tell me it has arrived.  I make a real time EUR purchase on the app, then send the EUR to my Spanish account.  The Cajamar app on my Spanish mobile then pings to confirm receipt.  Whole process takes less than 60 seconds, no fee and the buy/sell exchange rates are almost identical (within 8 pips).

Just to note that you are showing here the "weekend rate" for Revolut.  Using Revolut you are buying currency at a live rate, and the currency instantly moves from your GBP wallet to your EUR wallet (or whichever currencies you are trading).  However currency markets are not open at the weekend, so the spread widens.  Trade your currency on Revolut during the week when the market is open and you have a tiny bid-offer spread and no fee.

I am not too familiar with TransferWise, but I see that their fee seems to increase with the transaction size, so for a sample £25k purchase of EUR I would receive about EUR92 more with Revolut than with TransferWise.   Also the transfer time seems to be measured in days whereas with Revolut it is under 60 seconds from funds leaving my UK bank to Cajamar notifying me of receipt.

They have a different rate on Revolut for exchange on Weekends - At the moment they are offering me 1.1637 (Wed 10:15 a.m.) and I can change €1000 a month for free.

I get my UK pensions paid into Revolut and change them to Euro although I keep a little sterling in reserve - I live in Ireland and usually change a €1000 a month and then use the card for shopping and other day to day expenses

Hi l used to use world first but they have now stopped dping private transfers but have moved me over to XE no transfer to small or large no charges very good rate straight from english bank to spanish , am not sure if this is what you are looking for as there is no cards etc with them just money transfer just put in 750 sterling and exchange came out at 867 Euros 

Transfer wise. Couldn’t be simpler very efficient and fast transfers good exchange rates and low fees 😊 

I was not aware of this, my last transfer in to Sabadell was December 2020 and I was not charged - perhaps they are starting from January.

They are putting my quarterly charge up to €40  + €30 pa for debit card so if they are also starting to charge for transfers in I may look for a bank like revolut that can pay my direct debits and close my Sabadell account!

I use my monzo all the time to transfer and use card in spain and I get best rate julie

Monzo and Revolut are almost identical offerings

My friend had revolut and he prefers monzo like me it go’s in spain bank straight away only just over a pound for fee julie

https://www.monito.com/en/wiki/monzo-vs-revolut