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I have several bank accounts, and I am constantly searching for new accounts with a more favorable exchange rate for trading on the stock exchange. Is anyone here who deals in stocks and can share their experience using this bank? I always choose very carefully the bank where I will keep the money, so I would like to see a review on Revolution, for example, as a review on GetUpside https://arrestyourdebt.com/getupside-review/ . Perhaps one of you has a better offer. Or had a negative experience with Revolut ? I would be very grateful for any information.
Posted: Thu Jul 7, 2022 8:23am
Posted: Fri Jul 8, 2022 10:56am
Helpful member
psy1967 wrote on Mon Feb 22, 2021 5:13pm:
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...
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... 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.
Wise is an instant transfer usually in under 10 seconds to get from UK account to Spanish account. Very easy to use.
MaggieB wrote on Fri Jul 8, 2022 10:56am:
Wise is an instant transfer usually in under 10 seconds to get from UK account to Spanish account. Very easy to use.
These posts are not me
Starling Bank is also very good - cant see why you need a traditional spanish bank account if you have their sterling and add on a Euro account.
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