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Save Money While Traveling With Revolut: The Money Cloud For GBP, USD, & EURO

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I will gladly admit that 1/3 of my success in life is simply me being in the right place at the right time.  I found Revolut at a Tech startup conference in London earlier this year and they told me about their money cloud program.  Basically, you save money while traveling because Revolut holds/exchanges the Great British Pound, the U.S. Dollar, and the Euro… all in one place. Backed by Master Card, the Revolut card can be used in any country (using any currency) as a normal domestic debit card AND you can send people money via apps like Facebook and Whatsapp. In my line of work, I get paid in USD but I need to pay my bills in GBP and I’m constantly in Europe throwing Euros like Kanye (not really).  During my last two years abroad, I’ve been paying ridiculous fees just to access MY MONEY and The Universe has clearly brought Revolut into my life to rectify this issue.

So shut-up and take my money.

You can download the app by clicking here and you’ll even receive 500 GBP worth of exchanges for FREE (for a limited time) for being a Wander Onwards reader! 😀 Or you can use my “WANDERONWARDS” code in the app store. You can also invite friends to earn money and more free exchanges.

Since the program is still in its developing stages, you have to be invited in order to join and the landing page doesn’t have all of the details… but I do.  So lets break it down further.  So why is Revolut revolutionary for travelers like you and I?

What Revolut Does

Revolut has the vision of making sending and spending abroad as easy as it at home, which is made of three parts:

1) Sending

Revolut allows users to send money through SMS/WhatsApp/Email and via URL. The recipient can retrieve money by downloading the Revolut app or by entering their bank account details after following the link. Revolut currently allow deposits and withdrawals in GBP, USD and EUR as well as sending in 20 other currencies (AUS, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NZD, NOK, PLN, RON, SGD, ZAR, SEK, CHF, THB, TRY, AED).

2) Exchanging

Revolut provides the best possible exchange rate, the interbank rate. No hidden fees or spread! Revolut currently offers currency exchange between GBP, USD and EUR however this will soon expand this list.

3) Spending

With the multi-currency card you can spend abroad without the horrendous fees. Revolut’s multi-currency card currently supports GBP, USD and EUR and can be used online as well as offline immediately after there topping up on the Revolut app. Even if you spend abroad Revolut will automatically do the exchange so you get the most out of your money!

Current Deals And Promotions

At the moment, Revolut is trying to get the word out about what an awesome product it is.  For that reason, the first GBP 500 of transactions are completely fee free!  They want you to feel comfortable with the app and process above all else.  Also, you can earn FREE MONEY By inviting friends.  For each friend that signs up, you receive an extra 5GBP (Currently maximum of 5 invites per person).

Revolut2

Fees and Charges

Plain and simply, 1% on exchanges with maximum fee charges of GBP120 per year. Super low fees and capped charges ensures that whether you are sending, exchanging, or spending money, with Revolut, you avoid horrific fees so that your money can be spent on the things that really matter!

Security

Revolut ensures that all money sent and stored on Revolut is secured by working with Optimal Payments, which is a registered and regulated e-money issuer by the FCA (reference FRN: 900015). Optimal payments manages ring-fenced Barclays accounts which means all money is secured against the possible distress of Revolut, Optimal Payments and Barclays. Additionally Revolut only operates on mobile apps as these platforms provide better protection against hacking than web-based application. You’re money is also secured for up to 85,000 GBP. Awesome.

With ATM fees, transaction fees, and currency exchange fees piling up, I’ve been loosing 75 USD A MONTH since I’ve moved to London.  That could have bought me a round trip to Paris and so much more.  Revolt against the man and join the movement. It’s your money, do what you want with it.

You can download the app by clicking here and you’ll even receive 500 GBP worth of exchanges for FREE (for a limited time) for being a Wander Onwards reader! 😀 Or you can use my “WANDERONWARDS” code in the app store. You can also invite friends to earn money and more free exchanges.

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  • Ben Winterroth

    Hi All, I work for an international money transfer company, called OFX, and we already cater to thousands of expats. Simply, we send money around the world faster and at better exchange rates than going though the banks. Feel free to use the following link to get preferential exchange rates and no transfer fees: http://www.ofx.com/en-au/?pid=4174

  • lcamacho

    The promotion is not working anymore?

  • Marcus Bryant

    It is a great idea – actually there are no transaction fees (they earn their money from the mastercard transaction fee when you use it). A Word of caution though – when attempting to credit my account via transfer the reference field got corrupted and it couldn’t be processed. One week later they still haven’t found my money and just keep apologizing – no offer of compensation and no solution so far. Their back office is extremely poor IF things do go wrong.

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  • Jonas Hürbin

    Got to your post by searching the internet for a way to save money abroad. When I first read your post, revolut didn’t support Android Phones, they now do, so I joined them as well. Great idea and great post. I will give it a try during my travels 😉

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  • Brilliant idea. Thanks for sharing. I’m lucky enough that my bank is kind to me about living abroad and withdrawing money, but there is definitely always money lost between transfers and exchange rates every now and then.

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