Does Revolut automatically know which currency to use?

Does Revolut automatically convert currency when paying?

Spend with your Revolut card

Use your Revolut debit card abroad and we'll automatically exchange your money at competitive rates in 150+ local currencies.

What is the downside of Revolut?

It is also important to note that Revolut is a digital only provider, so there are no branches or call centres and customer service is likely to be limited for those with the free account. Revolut's exchange rates may also sometimes be less competitive than other providers.

Does Revolut give German IBAN?

German IBAN: New customers receive a German IBAN, Deposit protection: Revolut offers deposit protection up to €100,000 through the Lithuanian banking deposit guarantee scheme. Spending analytics: Revolut provides spending analytics and budgeting tools.

Is it better to use Revolut or debit card abroad?

Revolut is a good option for spending abroad because they don't charge any fees for foreign transactions. You can enjoy your travels without worrying about extra expenses. Keep in mind that merchants can add their own charges at any time, but they're not defined by Revolut.

What countries cannot use Revolut?

Countries we don't support payments in include, but aren't limited to: Belarus, Crimea, Cuba, Iran, North Korea, Libya, Myanmar, Russia, Syrian Arab Republic, and Venezuela. Depending on your country or region, this list may not be exhaustive, and is subject to change.

Will Revolut automatically use euros?

With a Revolut travel money card, there's no need to buy Euros in advance. Just add money to your account in your home currency, and we'll automatically convert it to Euros for you when you pay or withdraw cash abroad, at our competitive exchange rates and fees.

Can I use Revolut without changing currency?

How Revolut determines the currency you'll be charged in. We automatically convert your balance to the currency you're paying in, so there's no need to buy or exchange currency before your trip. We won't combine multiple currencies to complete a transaction. Read more about our exchange rates in this FAQ.

Can I have two currencies on Revolut?

It lets you: Hold multiple currencies: keep balances in different currencies simultaneously, and get a complete overview of your finances. Receive transfers: store the transfers you receive in the same currency, without needing to exchange immediately — we'll automatically send them to the right currency account.

Is it better to pay in local currency or card currency?

It almost always works out cheapest to pay in the local currency, and that's because of the exchange rate you'll pay on each option.

How to set primary currency in Revolut?

You can assign a specific currency to a card by following these steps in-app:

1. Go to 'Home' on the bottom menu.
2. Select the card you want to use.
3. Tap 'Settings'
4. Under 'Spend from', choose a currency.
5. Select 'All cash accounts' or any currency you want to be charged in.

Does Revolut charge you for paying in a different currency?

We don't charge a fee for using your Revolut card to make purchases in your base currency. However, we may charge fees if you're using your card to withdraw cash or spend in another currency.

Is Revolut still free to use abroad?

All customers can spend, withdraw, and exchange foreign currencies during the week without additional fees, up to a certain amount based on your plan.

Do I need to tell Revolut I am going abroad?

Do I need to tell Revolut I am going abroad? Revolut doesn't ask you to let them know you're travelling, but it's a good idea to double check that your contact details are correct in case they need to get in touch.

How do I avoid foreign transaction fees on my debit card?

Settle payments in the local currency

1. Pay in the local currency with your card provider determining the rates and fees.
2. Pay in your home currency using a Dynamic Currency Conversion.

Is Revolut safe in Germany?

Yes, Revolut is generally considered safe in Germany because its European entity, Revolut Bank UAB, holds a banking license in the EU, is regulated by the Bank of Lithuania and ECB, and deposits are protected up to €100,000 under Lithuania's deposit insurance, plus it uses strong security features like 2FA and virtual cards for fraud protection. While it's a digital service, it's a fully licensed bank in the EEA, offering core banking services with robust security measures. 

Does Revolut pay taxes in Germany?

As required by German tax law, we'll deduct taxes from any interest we pay to you. We do this before it's credited to your Instant Access Savings. Revolut withholds the applicable taxes and pays it to the tax office.

What is the controversy with Revolut?

Revolut has been fined €3.5 million by the Lithuanian central bank over alleged deficiencies in its AML controls. Regulatory authorities found that the neobank failed to implement adequate controls to prevent money laundering and related financial crime.

Why is Revolut declining?

The account associated with the payment method used doesn't have sufficient funds to make the payment. The customer's bank doesn't allow the cardholder to make the payment. The transaction has been declined due to high risk. This can be a trigger from both the issuing bank and internal Revolut tools.

Will Revolut refund me if I get scammed?

However, Revolut still follows a structured process to evaluate fraud reports and may issue refunds depending on the circumstances of the case. If you've been scammed, it's crucial to report it to Revolut as quickly as possible.