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Comment by NiekvdMaas | Hacker News Reader

Revolut has the same currency pair sample on their website, and it's a few bucks cheaper:

https://www.revolut.com/currencies

Revolut has likely the most complex fee structure I've ever seen. I think their first 1k per month is free, but after that you get charged. They also charge additional fixed fees just for the international payment.

Good luck!

https://assets.revolut.com/legal/terms/International_Payment...

https://www.revolut.com/en-GB/legal/standard-fees/

Revolut is a super app model and there are many reasons one might have the paid plan beyond the 1k forex limit like forex fees free debit card, free stock trading, crypto trading etc

> They also charge additional fixed fees just for the international payment.

This seems new. I have done international payments before and wasn't charged.

Those fees have been there for a while, but for the most part, they only apply to "weird" transfers - particularly uncommon currencies, or landing "foreign" currency in a new country. If you pay dollars to the US, euros to Europe and so on, you typically don't hit them.

I have interests in three currencies, and revolut has been a godsend compared to Wise and direct bank transfer fees.

Not if you have a paid account. I use it all the time to do international transfers between EUR (Germany) and CHF (Switzerland). And they also give you the interbank exchange rate (except on weekends when the markets are closed, they add a markup to cover their asses).

Congratulations to the founding team on launching this but I have the same question.

Revolut transfers are instant and have no forex fees if you are on their paid plans which include other features as well. If you transfer up to 1000 GBP, it is free without a paid plan. How do you plan on competing with them?

On their standard plan, with the first £1k you're not paying for currency conversion, but you're paying a fee for the "international payment". I think that's a 0.3% fee capped at £5, but for a £1k transfer, that's a £3 fee right there. You can see this in their fee structure.

https://www.revolut.com/legal/standard-fees ("A fee applies for international payments on our Standard and Plus plans")

https://assets.revolut.com/legal/terms/International_Payment...

If you're a die-hard Revolut user that subscribes for other reasons or do all your global banking with them, it's possible you'll end up with better overall economics with them. That segment of customers is fairly narrow and we're excited to offer everyone else a world-leading service.

> I think that's a 0.3% fee capped at £5, but for a £1k transfer, that's a £3 fee right there. You can see this in their fee structure.

Got it, this seems new and significant. I had transferred money to Germany before in January and it was free without a paid plan too.

This does add an edge to your product, if the person can wait. Best of luck with your product.

I used to use Wise exclusively but Revolut is now my go-to. I've found it to be consistently cheaper.

The atlantic.money option looks great for larger transfers, however - will definitely bookmark this for the future.

Larger transfers is definitely where we hope to compete, thank you for your interest!

From the rates I'm seeing, it depends how much you're sending. Revolut has "no fee", but their rate is slightly lower. So for large transfers, the £3 fixed fee works out cheaper.

I tried the GBP-EUR pair and saw almost the same rates 1.199 on Revolut and 1.1993 on their site.

I guess, their service is cheaper if you are converting hundreds of thousands of dollars and more and can wait, but this would be few normal people.

https://www.revolut.com/en-DE/money-transfers

Slightly better for bigger transfers if you don't get a Revolut subscription, that seems to be true.

£1000 to EUR

Atlantic: €1,195.77, Revolut: €1.198,50

£2000 to EUR

Atlantic: €2,395.14, Revolut: €2.391,02

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