That feeling, being abroad, in a country with a different currency, the absolute need to find an exchange before to be able to do anything. With Revolut will remain just a bad dream.
Saving money during your trips it is related to a small chain of single factors: One of this, it’s withdrawing money or changing currency the so-called bank fees or commissions.
You have to waste your time looking for the exchange office with the best rate, or you are charged 3-4% from your bank for each withdraws, but I have the solution for you:
Revolut is an app that allows you to get a prepaid MasterCard, just with a simple registration. You’ll be charged just for the shipping of the card, 6 euro.
Then you can top up the card for free, yes free. There are 2-3 ways to top up: live transfer of money from another card (1% fee with credit card), bank transfer and you could even receive money from your friends (if they use revolut). Mind that top ups from bank accounts that are not in your name will not be accepted.
There are no costs to keep the card active, so basically they ship you the card in a week, then you can decide when to use it or if to use it, anyway you’ll not be charged to keep your account open.
The best aspect is that you can withdraw money in, almost, any currency for free (it applies the interbank exchange ratio, without any commission) it does not matter if you are in Europe or in USA/ASIA you can get the local money from the first ATM of MasterCard circuit without paying any commission.
The bad thing is that the free ATM withdrawal limit is 200GBP or currency equivalent, then there is a 2% fee.
Also, the first 5000GBP or currency equivalent in terms of exchanges is free per month, and then there is a .5% fee. Again, much lower than most banks and unless you plan on completing more than 5000GBP worth of exchange transactions in a month this won’t apply to you.
One of the key points of the App is the interface, it is really easy to understand and it will allow you to check how much money did you spend in a country or in a specific category of goods. You will be even able to split the bills with your friends directly from the app, in one touch. (No more unhappy friends because you did not give them 0,35 cents last time at the restaurant)
Moreover, you can set your own pin and block or unblock the card whenever you want. You can even have two different cards connected with the same account.
I have been using this app/card for all my trips, it became one of my best travel companions.
P.S. This article is not sponsored