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BDFL - Memuneh
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  # 2326464 28-Sep-2019 20:09
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Ok, so I recently made the top of the list (Australia, not NZ). Revolut accounts are accessed entirely in the app (no web access).  No phone support. Money is held in trust in Revolut's accounts with ANZ, and can only be loaded in there by transferring in using Apple Pay, Credit Card, or Debit Card (no Google Pay or Samsung Pay support) - you don't get any other account details for direct depositing cash, so it CANNOT be used as your daily driver account. Despite claims they offer Fx at the mid-market rate, they do not - the rate is inferior to the mid-market rate by about $0.003 as at this moment.



So what's it good for?

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  # 2326620 29-Sep-2019 11:20
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So what's it good for?



Fee-free SWIFT payments at extremely close (less than 1c difference) to mid-market rate is definitely well worth it, the virtual card you can create and destroy at will is quite handy as well (not great that it's $10.99 for the disposable virtual card that automatically changes card details every transaction so that if the card is compromised it's already worthless). Features like "split bill" where you can request part of a bill (or lunch or whatever) from a group of friends using the app that will allow them to instantly pay it if they're with Revolut is neat, but already a thing with services like Paypal (with much greater penetration) and Beem It (with, again, much greater penetration).


Most of the functionality of Revolut I actually find is already available with Transferwise Borderless + Transferwise Debit Card, also available for free, though Revolut's UI is much nicer and Revolut uses SWIFT as the underlying platform for their fx transfers so actually support For Further Credit instructions, unlike Transferwise.


For domestic use, Australia has Osko and PayID on the New Payments Platform with a vast majority of banks, meaning that Revolut's fee-free instant transfers are really a solved problem. For NZ which doesn't yet have Faster Settlements, I guess it would add value. Although I'm surprised Beem It hasn't launched in NZ, which allows you to transfer money instantly to other Beem It users by eftpos debiting the sender and eftpos crediting the recipient (sure, it's a perversion of the eftpos service, but it works).


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  # 2347026 1-Nov-2019 07:54
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Anyone else get an email saying “your Revolut account is ready *my full first name*”?

I updated the app on IOS and Android then signed in but app still says we’re not in New Zealand yet, but the pink button says “Enter Revolut”. Sent the details through to them as there was a link to report problems (by way of a survey monkey survey...).

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  # 2347035 1-Nov-2019 08:16
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tardtasticx: ...Anyone else get an email saying “your Revolut account is ready *my full first name*”?...


No email, but I updated to the latest release for my android and I'm still on the waiting list with 5078 people ahead of me.


I'll continue to use my copy of Microsoft Money version to manage my dosh.

2984 posts

Uber Geek

  # 2347096 1-Nov-2019 10:06
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Just checked the android app and it says “you’ve reached the top of the waiting list! 6168 still behind you” um I don’t think those numbers are adding up lol

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  # 2348175 4-Nov-2019 16:01
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Revolut acknowledged on Twitter they mistakenly sent that email out to some New Zealand users. They have not launched in NZ yet, and no-one has an account.

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