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Best Way To Transfer Money - Revolut?

Posted: Fri Feb 19, 2021 3:52pm
15 replies558 views8 members subscribed
Brian1

Posts: 44

23 helpful points

Location: Mojacar

Joined: 5 Mar 2016

Like many I transfer money from UK to my bank in Spain to cover bills - for this I use Currencies Direct who do not charge but give a exchange rate 2 or 3% below the official rate.

I also use a Caxton FX card and again they exchange at 2 or 3% below the official rate.

I have just been looking at Revolut who exchange at the official rate and only charge at 0.5% of the transfer. From their website the system looks a bit complicated with the standard account being free but the plus, premium and metal accounts having a monthly fee. It also looks as if you open a UK bank account with them in order to make the transfers.

Has anyone used Revolut and if so would the standard account be OK for making transfers to Sabadell and does the account have any stipulations such as minimum amounts you have to transfer in each month. I would not intend to close my existing UK bank account.

Sorry this is a boring topic but all I am allowed to do at the moment is pay my bills!

Doris

Posted: Fri Feb 19, 2021 3:59pm

Doris

Helpful member

Posts: 154

143 helpful points

Location: Vera

Joined: 27 Feb 2020

Posted: Fri Feb 19, 2021 3:59pm

TransferWise is by far the best. They always give best rates and only charge £3-69 for every thousand transferred. 

Paulandjo

Posted: Sat Feb 20, 2021 8:47am

Posts: 74

19 helpful points

Location: Mojacar

Joined: 17 May 2017

Posted: Sat Feb 20, 2021 8:47am

Doris wrote on Fri Feb 19, 2021 3:59pm:

TransferWise is by far the best. They always give best rates and only charge £3-69 for every thousand transferred. 

I totally agree with Doris.  I use Transferwise and have saved hundreds of pounds against other currency exchanges.  They have also just reduced their rates for transferring £'s to euros. Their conversion rate is also better than any other exchange I have found.

LosPardoslady

Posted: Sat Feb 20, 2021 9:42am

LosPardoslady

Helpful member

Posts: 125

70 helpful points

Location: Vera

Joined: 22 Jun 2019

Posted: Sat Feb 20, 2021 9:42am

Transferwise every time.  Also don't forget that now you also have to consider currencies direct payments from UK to Spanish banks are attracting fairly hefty fees. 

Stu65

Posted: Sun Feb 21, 2021 2:42pm

Posts: 50

15 helpful points

Location: Mojacar

Joined: 6 Mar 2020

Posted: Sun Feb 21, 2021 2:42pm

Revolut are brilliant - exchange rates are way better than anyone else and zero charge too - and fast!

Doris

Posted: Sun Feb 21, 2021 3:35pm

Doris

Helpful member

Posts: 154

143 helpful points

Location: Vera

Joined: 27 Feb 2020

Posted: Sun Feb 21, 2021 3:35pm

Today’s exchange rates 5 minutes ago. TransferWise vs revolut. 

Julie n

Posted: Sun Feb 21, 2021 7:34pm

Posts: 22

8 helpful points

Joined: 22 Aug 2020

Posted: Sun Feb 21, 2021 7:34pm

Doris wrote on Sun Feb 21, 2021 3:35pm:

Today’s exchange rates 5 minutes ago. TransferWise vs revolut. 

Hi I use my uk bank to transfer to monzo and from that to spain bank account. Brilliant use  my monzo in spain as well and get good rates. Reg

anitacarthew

Posted: Mon Feb 22, 2021 7:39am

Posts: 65

25 helpful points

Location: Íllar

Joined: 28 Jan 2019

Posted: Mon Feb 22, 2021 7:39am

Hi

We have Revolut standard accounts and find them brilliant. Last night we were talking about shifting some from the uk to here and on £25k we were getting a rate of just over 1.14 and the total fee was €138. It us a little bit complicated to get your head around it when you first start, but there’s loads of info online to help you, and once you get your head around it it’s really easy. 
I would really recommend them.

Anwen61

Posted: Mon Feb 22, 2021 8:32am

Posts: 2

1 helpful points

Location: Vera

Joined: 20 Feb 2021

Posted: Mon Feb 22, 2021 8:32am

Sabadell have a minimum fee of €18 for transfers from U.K. - thanks to Brexit. I’ve been told this isn’t allowed but Sabadell isn’t budging. I just take cash out and pay it back in - but will just have to pay the charge when I’m out of the country 

Doris

Posted: Mon Feb 22, 2021 9:39am

Doris

Helpful member

Posts: 154

143 helpful points

Location: Vera

Joined: 27 Feb 2020

Posted: Mon Feb 22, 2021 9:39am

anitacarthew wrote on Mon Feb 22, 2021 7:39am:

Hi

We have Revolut standard accounts and find them brilliant. Last night we were talking about shifting some from the uk to here and on £25k we were getting a rate of just over 1.14 and the total fee was €138. It us a little bit complicated to get your head around it when you first start, but the...

...re’s loads of info online to help you, and once you get your head around it it’s really easy. 
I would really recommend them.

Total fees when using TransferWise would be 87-39 on 25k

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