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Revolut introduces new fees and limits for FX and weekend transfers

Thursday 11 June 2020 14:31 CET | News

UK-based digital bank Revolut has added new limits for its foreign exchange offering for its free plan while also doubling fees for weekend transfers starting with August 2020.

The announcement comes in a bid to reduce costs amid a coronavirus slowdown. Revolut is reducing the amount users can exchange for another currency from GBP 5,000 to GBP 1,000 per month, with fees also doubling for weekend transfers.

Premium and Metal plans which have always had an unlimited exchange will continue to do so. Users would also continue to see interbank exchange rates on weekdays, although weekend transfers will become more expensive. Domestic transfers and Euro transfers within the Single Euro Payments Area are remaining free, according to Revolut staff.

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Keywords: Revolut, FX, foreign exchange, fee, weekend transfers, interbank exchange rates, domestic transfers, euro transfers, Single Euro Payments Area
Categories: Banking & Fintech | Payments General
Countries: World
This article is part of category

Banking & Fintech