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  • @CraigM Revolut exchange at the actual market rate and don't charge a fee for exchanging. However there is a limit on the free account. I'd research it mate. I'm based in ireland and use it with no fees. I'd advise all Irish customers of the Index to use it. Revolut may charge some fees in the future but right now is the only way to transfer Euro to STG without commission.

  • @NewUser198904 thanks for the advice. Are you saying that they make money purely from the interest they get from customer prepayments? I heard there is a monthly charge to have an account, is this not true then?

  • @CraigM But the £ can change a hell of a lot over next couple of years.

  • @Andy-M yes, the exchange rate has cost me around 3% so far, as I was unlucky in putting most of my money in just before the pound fell recently. Hopefully, it will strengthen again, but I don't want to get into a debate about the stupidity of Brexit voters on here...

  • @CraigM it's not just the strength of any currency, it's also the bollox rate that the bank that FI are using are charging 🤬 I checked the rate here, then checked the rate they charged for my deposits, was a huge difference.
    Then i made a small withdrawal just to see the difference compared to the deposit... WAS NOT IMPRESSED..

  • @Andy-M yes mate, as per a previous comment of mine, the rate itself and commission adds another 2.5% plus to the problem

  • @CraigM There are premium account options. But the free account allows free foreign exchange up to a limit.
    Don't take my word for it. Check it out for yourself.

  • @NewUser198904 I'm sure the last time people were giving advice on these things that when i checked you have to pay a monthly fee.

  • @NewUser198904 going forward I will, but the typical Irish based person will be put off as soon as they find out it's a sterling only platform and FI customer service just leave it at that...thousands of customers missed

  • @CraigM I guess we will just have to do extra well here mate, and also hope the exchange rate gets better, i have a UK passport and can use my mums address in the future to open a bank account in worse case scenario, then just make a £10 deposit and then I'll be allowed to withdraw to that account without loss, obviously hoping that things will be better much further down the line.

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