Is Revolut the best prepaid travel card? Pros & Cons
- No fees for using the prepaid MasterCard within the limits of Revolut’s fair use policy. Only 200 GBP worth of free ATM withdrawals per month is probably the most significant limitation.
- No foreign transaction fees or currency markups, except for a few “illiquid” currencies such as Thai baht and Russian rubles.
- Really nice mobile app, with instant notifications, instant currency conversion between GBP, EUR, and USD (at the true interbank rate).
- The mobile app also allows instant top-ups from debit and credit cards, Android and Apple Pay, as well as non-instant bank transfers. You can instantly send (and request) money to other Revolut users, or transfer money to nearly any bank account worldwide without any fees on Revolut’s end (the receiving bank might charge you however).
- No monthly fees.
- Ability to order spare cards (both virtual and physical) for about $7 each. Very convienient if you’re worried about loosing your card while traveling (just don’t keep the cards in the same place).
Things to note:
- Although initially available worldwide, Revolut is now (temporarily) only available to European residents. This is due to change once they get their own MasterCard license (hopefully early 2017).
- They charge a minimum of 0.5% FX markup on weekends, to protect themselves from currency fluctuations between market close on Friday and market open on Monday. So you will save money by always doing your currency conversions on weekdays, when possible.
- Name: Revolut
- Rating: 4.5/5