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.
You can get waiters who do that as well…