When you travel to different countries, you need to change your money to their money. Most places only take their own currency. If you use your own money, it might cost a lot more because of high exchange rates, which can be expensive. There are different ways to change money. You could go to a bank or a place that changes money, but they often charge a lot of fees. Another option is to use credit or debit cards, but they might also make you pay more for buying things in another country. A better choice is to use a money-changing app like the well-known one called Revolut. This blog explains how Revolut’s money-changing works, the good things it offers, and why you should think about using it when you travel abroad.
What is Revolut, and how does it help with changing money?
Revolut is a smart company that made a phone app for banking. It has lots of things you can use, like changing money between different types of money, sending money to other countries, trading stocks, and paying your friends. For people who travel, Revolut is really good because it has lots of types of money from all over the world, and it uses the same exchange rate that big banks use. The best part is, they don’t sneak in extra charges, so you get a good deal. The app is super helpful when you’re in new places – you can see how much you’re spending and change money right on your phone.
How does changing money with Revolut work? Let’s learn how changing money with Revolut works by following these steps:
- Get the Revolut app and go to the “Accounts” part.
- Click the “+” sign and choose “New currency.”
- Pick the type of money you want to change to.
- Say how much money you want to change.
- Look at the exchange rate and the fees.
- Say “Yes” to make the change.
Revolut uses almost the same exchange rate as banks do, but they add a tiny bit extra (about 0.5%) to make some money. There’s also a small fee for changing money, but you hardly notice it, especially if you have a Revolut Premium or Metal account. Remember these things when you use Revolut:
- Exchange rates change, so check before you change money.
- On weekends and holidays, Revolut might make the rate a bit higher.
- You can only change certain types of money on Revolut.
- There’s a limit to how much money you can change each day.
Revolut is a really good way to change money. It’s easy to use, has lots of types of money, and doesn’t charge too much. It’s a good choice if you want to save money when you change money. Let’s discover more about its capabilities!
Revolut’s Currency Exchange Features:
1.Best Exchange Rate
Revolut uses the same exchange rate that banks use for trading currencies among themselves. This means you get the best deal for changing money.
2.No Hidden Fees
Revolut doesn’t have sneaky extra charges. You only pay what you see, so there are no surprises.
3.Easy and Convenient
Revolut is made for mobile phones, so you can change money easily while you’re on the go. The app is easy to use, and you can find the things you need without any trouble.
4.Lots of Currencies
Revolut has more than 28 types of money, so it covers all the currencies you might need when you travel.
5.Fair Limits
Revolut has limits for how much money you can change. You get a certain amount each month before they add extra charges.
6.ATM Withdrawals
You can use Revolut to take out money from ATMs in different countries. This is a good way to get cash without big fees.
7.Limit Orders
You can use limit orders with Revolut. This lets you decide the exchange rate you’re okay with. It stops you from spending too much when you change money.
8.Real-Time Rates
Revolut gives you the real-time exchange rate. This means you can see the latest rate before you make a money change.
9.Currency Alerts
You can set up alerts in Revolut. These tell you when a certain currency’s exchange rate goes up or down. This is helpful when you’re getting ready for a trip and want the best rate.
Is Revolut the Best Way to Change Money?
Revolut is a great choice for changing money because of its useful features. It gives you good rates and doesn’t charge a lot of fees. The app is easy to use. But before you decide, it’s smart to compare Revolut with other ways to change money. Here are some other options for changing money:
•Banks:
Banks change money, but they often ask for high fees.
•Currency Exchange Places:
These places also change money, and their fees are usually lower, but the rates might not be as good.
•Online Money Exchange Websites:
You can also change money online, and they usually have good rates and low fees.
When you’re picking how to change money, it’s important to look at how much it costs and how easy it is to use. Here are some tips for changing money with Revolut:
•Plan Ahead:
Change money a few days before you travel for the best rates.
•Use Limit Orders:
Set limits on the rate to avoid spending too much.
•Watch for Weekends:
Be careful on weekends when Revolut might add a little extra to the rate.
Remember, it’s a good idea to check and compare before you decide how to change your money.
Conclusion:
Revolut is a really good way to change money when you travel to other countries. It has lots of good things like an easy app, many types of money, and clear fees. If you want to save money when you change money, Revolut is a great choice.
