Bank alternative abroad
 

Do any of you know of https://www.revolut.com?

I have a Polish friend who told me about this, AFTER I arrived back home.
He said he has been using it for the past three months or so.

I looked at my bank account and see they charged additional 2.2-3% on the currencies. At the end of the month I will also know what the fees were.
In addition to this, I have my salary in Norway, so I always make international banking transfers.

So my questions are, is anybody using this already? And does it look like a good option? What are your advice, or thoughts on the matter?

This might be something of interest for those going to the German meet as well

Yes. Revolut has been discussed a few times in the Cryptocurrency mining thread:
http://forum.a8parts.co.uk/search.php?searchid=1177353

I've only really played around with it myself, doing test transfers from Cryptocurrency exchanges and exchanging Euros to Pounds, but it seems pretty good. The app is impressive and works very well +++

I must have been blind :o
I have been following that thread but never paid any attention to all the times you guys mentioned Revolut. Shows that my attention is narrow based on my understanding. In this case my focus was on crypto currencies and I didn't realize it had wider use. Outside the crypto space.

Thank you kindly for pointing this out to me +++

I have Revolut, not use it much just testing, my wife has it and used it abroad on holiday. My friend also has it and tried to use it as main account but found out that it does not support GBP Direct Debits at the moment, just EUR.

I have also Just opened Wirex for testing as it has better crypto integration, waiting for card to arrive now. Downside with Wirex is that it has £1/month fee for each card you choose to have (GBP/EUR/USD) while Revolut is free.

I have started to read up on both Revolut and Wirex.
What bugs me are the low monthly ATM withdrawal without additional fee (2%).

With the war on cash. I try to fight back and use cash as much as I possibly can :mad:

Banks and governments don't want you to use cash because they want to have complete surveillance and control over every transaction you make. That's where cryptocurrencies step in; a digital cash outside of governmental control. Not widespread enough for everyday use yet, but give it a few more years ...

I suppose governments could ban all or at least some of cryptos that they did not like just like meth or heroin or other drugs and if no legitimate business will accept them they would loose their value.

At first I was all for totally anonymous cryptos that cannot be traced as it made sense. Now do see their point but I think they are too risky for long time investment.

Our governments sure love to know every thing we do, and plastic money plays right into their hands. But the bigger enemy of crypto currencies is the banking system. They don't want to loose their manufactured inflation that their money creation puts into their pockets. And they are the people controlling our collective governments strings. I'm an optimist and believe crypto will win, eventually

I think banks will still have their use they just need to change and adapt. Crypto is like digital cash and you don't see lot of people keeping all their money at home or in pocket do to risks of getting it stolen or lost and it's a risk with crypto as well with hackers steeling it or loosing your keys so may people will like some kind of custodial service.

I usually use Transferwise and they've recently started a borderless account. Looking at their pricing ATM withdrawals are free up to £200 / 30 days then 2% if above that. Not sure if that's any use to you?

EDIT: Just checked and it appears to be the same as with Revolut.