There doesn’t seem to be an obvious place to post exchange alerts so I’m creating this one - there was one discussing rates generally labelled 2021. I envisage this topic appearing periodically as rates spike, as they have today. I look at the rates every day - and yes, a watched pot does seem to never boil.
However today, I’ve got 1.1725 from revolut (1.1745 at the real spot rate) about 2pm and have set a limit order for 1.1735 - it hasn’t triggered but it’s close - only 0.0001 off. Update - just has executed as I type this!
Might go up more next week of course - I think the move up is because the ECB has revised the euro area inflation rates downwards - 2.1% 2024 and 2% 2025. So ECB more likely to cut before BOE and the fed. (US)
Mind, it was approx 2 weeks ago the 1 day spike to 1.1760 ish happened - back to 1.1700 the next day!
I presume people can also use the thread to discuss and debate all the different exchange providers as well.
Larkswood what type of Revolut account do you have. I have only just started using this bank and have a Standard plan that has a €1000 limit on commission free exchanges.
I have Revolut and I’ll usually upgrade to premium to do a larger exchange without commission and then drop it back to the free version. It doesn’t take a very large transaction to cover the £6.99
I’ve got a UK one and it has the 1K GBP limit. If you have a partner you could each have one giving a 2K limit. I received a ‘singing up a friend’ bonus as well. They did offer a big bonus for the first 30 odd days.
Can you do that just for a month John? - I recall the packages I was offered were for a year - but maybe that’s for the ‘free trial’ offers which I occasionally get.
Also I’d be pleased to know is their premium exchange rate different or the same to the ‘standard plan’ rate which now seems to track spot at -0.0020 i.e. if the market rate is 1.1550 Rev’s is around 1.1530. Thanks.
I’ve just changed from the basic to premium Revolut account, its cheaper if you pay for a year. The exchange rate is the same but no fees if you change more than 1k a month .
That’s interesting. I use Revolut mainly for one large transaction per year from my pension to cover us for a year every March. Didn’t know you could up it for just a month.
Time to fess up that I usually forget to cancel it so it’ll be a couple of months
Even so, I just did £30k today and the fees would have been about £340 if I remember rightly, so even paying for a year of premium is cheaper.
Hasn’t been much comment on GBP / EUR lately though it has now reached a 2.5 year high (well on Friday). I thought to post to my thread rate alert because ‘pound identifying as euro’ doesn’t quite seem valid anymore. Anyway, pound sellers, fill your boots!
Talking of Revolut, got an email yesterday about changes in terms, and one in particular made my recent (2 months ago) upgrade to Metal a lot less attractive. So, I complained via the web chat pointing out that I’d paid for a whole year and now the rug was being pulled from under me. After talk of no refunds etc (as per terms) they refunded me the whole years payment. Result
You can get waiters who do that as well…
