SARL Peak Transfer
44a Chemin du Lai
Chamonix Mt Blanc
Punctual service – driver was on time, waiting for us with a clear sign. Very friendly, patient and helpful.read more
We have all been there returning back from holiday dreading the impending bank or credit card statement only to find it is worse than you could have possibly imagined once all the additional hidden and confusing charges have been applied. But thanks to the “Fintech Revolution” our prayers have been answered in the form of the Revolut card, Halleluyah!
Revolut is an app downloaded to your smartphone which is linked to a pre-paid Mastercard. The biggest appeal of the Revolut card is the claim to offer interbank exchange rates on over 90 currencies meaning that customers get the best possible exchange rate with just the touch of their phone. Thus cutting out the middleman (banks, bureaux de change, travel cards) who have additional or hidden fees for withdrawing cash usually amounting to more than 3% above an already unfavourable exchange rate.
It’s a frictionless sign up process that can be done in minutes, then you’re ready to get spending online immediately. Just a couple of days later and you will receive your plastic Mastercard enabling you to make physical cash withdrawals and purchases in store.
Once you have downloaded the app you can load funds in a vast number of currencies in mere seconds… quicker than it takes you to wait in line at the checkout! The app provides instantaneous exchange rates and credit details, which makes it a lot more user friendly especially for those that might be scraping the barrel towards their end of their holiday!!!
You can easily use Revolut in your everyday lives and is a complete game changer as far as foreign travel is concerned. You know longer need to worry about pre-purchasing currency for travel abroad. Money without borders is here as far as Revolut users are concerned. You can hold pounds, euros and dollars on the card simultaneously and exchange between them instantly. So, if you have cash left over after your holiday, just swap it back to pounds, and use the card here.
We would definitely recommend paying for a physical Master card in addition to the electronic card the app offers. This allows you to pay for purchases abroad and make cash withdrawals at ATM’s instead of just online purchases and money transfers. Cash withdrawals are free of additional charges up to £500 a month, after which a 2% fee applies.
An additional feature of the Revolut app is the ability to transfer money to other accounts using SMS, email, or even WhatsApp. There are various pre-paid cards that do not charge for cash transactions abroad. However, combining multi-currency spending and money transfers in an interactive, instantaneous app that’s easy to use sets Revolut apart. Since launching in July 2015 Revolut has 160,000 customers using the app and card, with around 1,500 new registrations each day.
That said there are limiting factors that come with the Revolut card. Due to the prepaid nature of the card some automatic card payment machines are unable to check the current balance of the card and thus will usually decline the card as it cannot guarantee instant payment. A good example of this would be tolls on European motorways. It’s also worth noting that some countries in Asia do not accept Mastercard which could cause problems. But in terms of a typical European getaway you can’t really go wrong, although it’s always best to have a backup bit of plastic just in case!