You may have received an e-mail from Revolut stating that after withdrawing a certain amount, or amount of times for that matter, you may incur charges on further cash withdrawals. Now while it may seem like a pretty 💩 thing to do, we’ve broken things down to try to make some sense of them. Also, keep in mind that these changes will come into effect on the 23rd of April.
The maximum you can withdraw per month is €200, same as it’s always been. The charges will apply if you go over this €200 limit. The new part is that there is now a maximum of 5 withdrawals allowed per month. So, even if you withdraw 5 times, but total less than €200 per month, you will still incur the charge. This charge will be a minimum of €1, or 2% of the withdrawal – whichever is larger.
Plus, Premium & Metal
Free ATM withdrawal limits remain the same for the Plus, Premium and Metal cards. Similar to the above, once you go over these limits, a 2% fee will apply.
These will remain fee-free, including:
- free local bank transfers in your home currency
- free local and international transfer in € (including EU, EEA countries, UK and Switzerland)
- free transfers to other Revolut users in any country worldwide
What is changing, however, is that Revolut are combining cross-border and SWIFT payments into one category. The new name will be international payments. The international transfer fee will range between €0.3c and €5 depending on the transfer amount and destination. Standard and Plus plans have no fee-free allowance, whereas Premium users are allowed one fee-free international transfer per month. Metal get three.
If you want more info on these new pricing strategies, you can check their examples here.
Did you find this helpful? If you need any further clarification, don’t hesitate to get in touch!