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The changes are planned for customers using Revolut for free. There is an additional limit for free cash withdrawals: no more than 5 times a month. The limit on the total amount to withdraw, 200 EUR, remains unchanged, the company informed its clients in sent letters.
If the amount exceeds 200 euros, or if the limit is exceeded 5 times a month, a reimbursement fee of 2 percent is applied, but not less than 1 euro. These limits will apply to users of the free Standard Plan as of April 23.
Those who use the Plus, Premium or Metal payment plans will continue to be able to charge in an unlimited number, and exceeding the individual amount limits, ranging from € 200 to € 800, will also incur a minimum withdrawal fee of € 1 or be deductible .2 percent of the amount as before.
There are also changes to cross-border payments outside the SEPA area or to cross-border payments in a currency other than the euro. These orders will have a cost of 0.3 to 5 Eur, depending on the amount of the order and the status.
Users of the Free Standard and Plus plans will no longer be able to make one free international payment per month.
Until now, it was possible to choose two types of international transfers in the app: cross-border payments and SWIFT, the latter cost between 3 and 5 euros, depending on the currency. In the future, there will only be a cross-border payment function.
Customers who have purchased Premium and Metal plans will be able to make one and three international payments free of charge, respectively.
Revolut ensures that 90 percent. payments will remain free. You will not have to pay local currency payments to local banks, as well as all payments in the SEPA area; this includes the countries of the euro area, the European Economic Area, the United Kingdom and Switzerland. Free payments will be available to Revolut users in any country in the world.
“Part of the change is due to the way people’s lives and financial behavior have changed as a result of the global pandemic. We try to make the most popular daily banking services as cheap as possible for customers, we will charge only a part of the transactions that clients rarely use or are relevant only to a small circle of clients, ”explains Revolut in a comment sent to Delfi.
Change the card delivery fees
Previously, Revolut cost £ 4.99, or the equivalent in euros, to deliver cards to users of the standard plan.
Now, the shipping fee will depend on the location where the card is requested: as of April 23, when requesting the card, the rate will be specified in the Revolut app.
In addition to the shipping fee, there is an additional charge of € 6 for a replacement card (the first card is free), currently listed on the Revolut website.
Revolut offers consumers four plans: free, for 2.99 euros, for 7.99 euros and for 13.99 euros per month. The more expensive plans offer higher limits for free ATM cash withdrawals, purchase protection, insurance, and other additional services.
Users of the standard plan can use the Revolut application to carry out exchange transactions in the main world currencies on business days without charge, up to the amount of 1000 euros – in case of exceeding the amount, 0.5% applies. fair use fee. This rate does not apply to users of paid plans. Additional charges apply on weekends or for less-used currency transactions.
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