Just try Revolut.
The only time I tested revolut was for a large transfer, and it was a pip or two off what I got from my forex trader. Perhaps they are great for more modest sums and then make their money on people then using them for larger ones as so convenient?
They have to make their money somehow, as do all traders, so may still be worth shopping around when there’s more money at stake.
I use Revolut.
it is fee free up to a point (I think I’ve got that right this time) but it does charge and is not a proper bank with proper regulation and safeguards. It operates undere the umbrella of a bank licensed in Romania, I believe, so no 100.000 Euro protection.
Having Starling as my main bank, and having both Revolut and Transferwise, I have used all 3 since their very earliest days and can honestly say this is not representative at all. Every time I want to move money I check all 3, and in almost all cases Revolut is the best (although without a premium account only 1k€can be exchanged free), Starling slightly behind, with Transferwise third. Transferwise were once my go to, but at one stage there was a new email literally every week announcing either a new fee, or an increase to an existing one, and customer service has suffered as they have grown, so although I always check the rates just in case I haven’t used them in about 18 months now which is a shame. I’d probably use Revolut solely if they didn’t have such a bad stench around them regarding their ethics and seemingly being favourite of some rather unsavoury types shall we say. Hopefully they will get their act together, they will have to if they want a UK banking license.
It’s also worth adding that you’re not choosing like for like there as you’re showing the most expensive way possible to exchange money with Starling and the cheapest possible way to do so with Transferwise. If you add on Starling’s free euro account then it is on a par with its fintech competitors, and as I say I always find once you add in Transferwise’s fees generally beats them.
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I use either caxton international or britline international whichever gives me the better exchange rate and I dont get any transfer fees
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From what I can see the gap widens even more transferring 10k, just going by the calculators on their own sites.
Am I missing something here?
If Revolut use the interbank rate - and there are no transfer fees - is there a cheaper way to transfer money?
I can’t believe anyone still sends money this way. For small amounts, definitely use an account such as Revolut (since Brexit all Brits in mainland Europe now have a Latvian IBAN) or transferwise, there are no fees and the rates are also better.
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Do Revolut & Transferwise have the same rates?
Revolut has launched under its European Banking licence in Lithuania. The IBAN begins LT
Revolut has a 1% exchange markup at the weekends I seem to recall. I’m sure fellow Revolut community dweller @graham can put me right if that’s changed, but they always used to. Plus as I said earlier you can only exchange 1000€ per month now I understand, then a 0.5% charge kicks in on everything above, unless you pay for a premium account. For small sums exchanged during the week it may be best, but then for small sums we’re literally talking a penny or two difference between all of the newer players anyway so unless you’re someone who obsesses over every Penny it may just be down to ‘I prefer this one’
There is a less attractive rate at the weekends for sure but as @captainendeavour said, if you can’t wait until Monday morning to make an exchange, then you haven’t got your finger on the button, as it were. The 1000€ /month isn’t so much an issue either (in our case). Our UK State pensions are paid directly to our French bank in Euro and the other Govt pension (each) are paid in Sterling (the Euro rate offered usually by the agency providing them is derisory) and as neither is the equivalent of 1000€ / month and we have a Revolut account each, we don’t hit that limitation.
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The fastest transfer I had with Transferwise was 6 seconds and it only took 5 mins to Thailand.
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Wow…it didn’t show in my bank for nearly 20hrs…but it could of been because it was my 1st time, but hey no charges.
That’s how they make their money… using yours on the overnight spot market 
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That won’t be Transferwise - my transfers happen in seconds - but Credit Agricole seems highly variable as to when it credits stuff…
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Yes I’ve noticed that…
I use Revolut it arrives instantly to CA Olonzac or even to a friends account who has been doing our shopping with a fantastic rate. No problem with small amounts but I think there is a limit of €1,000 per month with the free account.
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My Forex Trader says to go to Revolut for small sums as they can’t compete.
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Transferwise, look no further. Instantaneous excellent rates and constant updates on spending. Have a euro pot and Sterling pot and swap currencies when the rate is good. TA TA Credit Agricole, I did
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