Revolut Exchange Rates

Revolut is a money transfer app and neobank that is hugely popular with travellers and widely regarded as one of the leading digital bank alternatives.

Despite not offering a traditional travel money service, Revolut’s multi-currency card is a very robust and convenient solution for holiday money, not to mention its extremely budget friendly.

If you’ve already settled on purchasing physical foreign currency ahead of your travels, this article also includes the rates of many popular providers for you to compare.

However, we’ll also share our thoughts on why using a digital alternative like Revolut is not only safer and more convenient, but also far more cost effective.

This article also compares Revolut to one of its closest competitors, so by the end, you’ll know who is the best provider for your travel money needs.

Let’s first look at why Revolut is an excellent option for your holiday money.

What are the Revolut exchange rates today?

In the currency converter table below, you’ll find Revolut offers extremely competitive rates for many popular currencies. These rates are often very close to the mid-market exchange rate, but are slightly worse depending on the currency.

Currency Official Rate 1000 GBP Revolut Rate 1000 GBP Additional Info
GBP to Euro 1,181.9900 EUR 1,176.0801 EUR More Details
GBP to US Dollars 1,265.1100 USD 1,258.7845 USD More Details
GBP to Australian Dollars 1,903.3400 AUD 1,893.8233 AUD More Details
GBP to Turkish Lira 41,513.0000 TRY 41,305.4350 TRY More Details
GBP to Canadian Dollars 1,731.5600 CAD 1,722.9022 CAD More Details
GBP to Swiss Franc 1,130.1400 CHF 1,124.4893 CHF More Details
GBP to Japanese Yen 202,007.0000 JPY 200,996.9650 JPY More Details

The rates in this Revolut exchange rate converter are updated hourly as we pride ourselves in being one of the industry’s more accurate sites.

With that said, we’d always advise double checking these rates yourself using the Revolut exchange rate calculator in its app, before finalising any foreign purchase or transfer.

Wondering how Revolut’s rates compare to other travel money providers?

Our comparison table below includes the live rates for many popular travel money services.

Why is a Multi-Currency Card Better Than Using Cash?

revolut card no background

  • Excellent Rates: Get real-time exchange rates and very low fees on weekday transactions.
  • Convenient: Spend in multiple currencies and make free international ATM withdrawals.
  • No Need for Cash: Use your Revolut card worldwide, safer and easier than carrying cash.

Additional Providers:

So what exchange rate does Revolut use?

Weekday currency exchanges are offered at what Revolut calls its ‘real-time exchange rate’.

Whilst this is often very close to the mid-market rate, it’s not the same, as we found Revolut’s rate can be anywhere between 0.15% – 0.75% worse, depending on the currencies involved.

However, despite offering a rate slightly worse than the exact mid-market rate, Revolut’s fx spread on weekday transfers is still far smaller than what most travel money providers add on to their rates.

So does Revolut have the best exchange rate? Well, not quite.

There’s no doubt that Revolut offers very competitive currency exchanges but there are a few companies that offer purchases and transfers at the exact mid-market rate. Later in this article, we’ll take a look at one of these companies and compare its holiday money solution to Revolut’s offering.

What other fees are involved in currency exchange?

Revolut exchange rate fees

Revolut offers a tiered plan system, with each plan offering a different fee free monthly limit for currency exchanges.

For the Standard plan users the limit is £1,000/month, £2,000/month for Plus users, whereas Premium, Metal, and Ultra users all benefit from no monthly limits.

Standard plan customers will be charged an additional 1% fee per exchange on all transactions that exceed their monthly limit. Plus plan customers are charged a reduced fee of 0.5%

Regardless of your plan, Revolut charges an additional 1% currency exchange fee for all conversions over the weekend when the markets are closed.

This includes conversions within your own account, ATM withdrawals, spending with your card, or sending an international transfer.

An added frustration to consider is that this fee runs from 17.00 Friday to 18.00 Sunday, New York time, so depending where you are in the world, you may need to calculate the time zone difference and plan that into potential purchases.

The Revolut app will always make you aware of this fee prior to you confirming a transfer, but it’s still frustrating to not not easily know ahead of time whether or not a transaction will be subject to this additional fee.

Revolut card exchange rates

An added benefit to holding your holiday money on a multi-currency card with a firm like Revolut, is for the odd occasion where you may still require cash, you can easily make a fee-free withdrawal from a local ATM whilst abroad.

Your fee free withdrawal limit will vary based on your plan, which we’ve summarised in the table below.

Standard Plus Premium Metal Ultra
Fee free ATM withdrawal limit £200/month or

5 withdrawals

£200/month £400/month £800/month £2,000/month

How to spend abroad with Revolut?

revolut spending

Convert and hold a lump sum

If you’re accustomed to arranging your travel money in your home country, converting a lump sum of British pounds into your destination currency is the route that will feel most familiar.

This is a simple process that you can complete within the Revolut app, where you can then hold your foreign currency in your digital account.

When spending abroad, Revolut will automatically deduct payments from your balance in the destination currency first, providing you have sufficient funds.

A benefit of this method is that by converting your money all at once, you have a clear visibility of the exchange rate, so you can ensure you’re satisfied with the rate before proceeding.

You’ll also have visibility of the exact amount of pounds you’ve converted, which can prove useful for budgeting purposes as you won’t have to check the exchange rate retrospectively.

Spend as as you go

The other option is to simply top up your Revolut balance in pounds, without exchanging the funds into your destination currency.

The process is largely the same, as you’ll still be able to spend using your Revolut card, just your GBP will be converted at Revolut’s ​​real-time exchange rate each time you make a purchase.

If you opt for this method, there are a few points to consider, that if not followed, could prove costly.

The first being is when paying with a card abroad, many merchants will offer you the chance to pay in GBP or the local currency, effectively offering to convert the currency for you, at a far worse rate than you’d get with Revolut.

As such, this should always be avoided by choosing to pay in the local currency, leaving the currency exchange to Revolut to ensure you capitalise on its favourable rates.

Another point to consider with the ‘spend as you go’ approach, is that your funds will be exchanged at a slightly different exchange rate each time, due to currency fluctuations during your time overseas.

This can be beneficial if the rate moves in your favour, but it can also work against you if the rate declines, potentially making your purchases slightly more expensive.

Without a doubt the biggest issue with the spend as you go approach using Revolut, is the additional markup you’ll pay for all weekend purchases.

So which approach is best?

With Revolut, it’s better to avoid any sort of currency exchange during the weekend, so your best bet is converting and holding a lump sum. If your converted balance begins to run low, you can top up whilst aboard, just be sure you do so during the week to avoid additional charges.

If you’d prefer to spend as you go to ensure you’re always getting the live rate, you can do so during the week, but you’ll have to remember to convert enough money to last you the weekend before the markets close on Friday evening, New York time.

If not, you’ll likely reverse any potential savings made during the week by the additional weekend markup.

Revolut vs Wise exchange rates

So by now it should be fairly clear that choosing a digital provider like Revolut is a far superior solution than converting a large amount of cash before you travel. This then begs the question of whether Revolut is the best overall provider in this category?

There are many Revolut alternatives all offering similar services, so it can be a confusing and tedious process trying to find the best provider for your travel money needs.

If you were already familiar with Revolut, you’ve likely also heard of Wise, which is one of Revolut’s biggest competitors. Seeing as both firms are such popular choices for travellers and holiday goers alike, potential users want to know ‘is Wise better than Revolut?’

Let’s start by summarising the two firms’ exchange rates. As we’ve covered, the Revolut exchange rate can often be slightly worse than the mid-market rate, whereas Wise always offers currency exchanges at the exact mid-market rate.

A key difference between the two firms is their fee structure. Wise charges a small variable fee for all currency exchanges, whereas Revolut waives currency fees for the certain monthly amount based on the user’s plan.

When comparing the total cost of exchanging currency with each company, they often work out to be very similarly priced. The overall cheapest provider depends on how much you’re converting and into which currencies, but we’d probably give Wise the slight edge in regards to cost on average.

The other huge factor to consider is that Wise does not penalise users for exchanging currency on the weekend, meaning that they’re almost certainly the more convenient choice for holiday goers, as it’s likely your trip will run over at least one weekend.

So overall, Wise is a more convenient choice than Revolut, offering more transparent pricing and a slightly more cost-effective service on average.

About Revolut – A Short Review in Summary

Revolut offers a fantastic multi-currency account solution for spending money overseas, specifically designed for users to send, hold, and receive multiple currencies.

As a result, Revolut has proven to be a hugely popular alternative to traditional travel money, offering users an extremely cost effective and safe option for spending money abroad.

Use Revolut to manage your holiday money to enjoy the following benefits:

  • Competitive exchange rates, close to the mid-market rate
  • A virtual and physical multi-currency card, which is a safer and more convenient solution than carrying cash
  • A fee-free international ATM withdrawal limit between £200-£2,000/month, so you can still get cash at a great rate when you need it
  • Access to a good suite of very budgeting tools, so you can better manage your holiday budget

You won’t receive a sign up bonus with Revolut, but your accumulated savings over time will far exceed the value of any signup bonus offered by an alternate provider.

However, if you’re looking for the best overall provider for your holiday money, Wise is likely your best choice.