How to exchange money cheaply?

+1 for transferwise. Use it all the time.

I also use (the do some currencies/countries that transferwise does not.

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No downsides I have found. There is only one place here (portgual) that wouldnt accept and that is because its mastercard not visa.

There’s a few of these zero/low fee prepaid debit cards cropping up. I use WeSwap. Those guys are very cautious about complying with AML/KYC, and as such do not permit P2P transfers.

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I’ve been using Revolut now for awhile and it’s awesome and you get the exact same rate you see on Google. I’ve taken money out at ATMs in at least 20 countries with no issues (other than Bosnia where they don’t operate). Their customer service is also great - highly recommended.


@neutron That looks like a great solution!

I love currencyfair & transferwise for exchanging & transferring money, revolut would be a nice addition to these tools.

One question: this company seems UK based, can resident of other (any?) countries use this service?

@nunoarruda: Monese seemed like an interesting solution too. And they provide a VISA debit card.

However, it only supports GBP & EUR. Not much of a solution when traveling! This company is UK based btw, and I assume they won’t let anyone who is not a UK resident sign up for their card.

@RichardH: WeSwap seems pretty good too!

Only supports 16 currencies though, versus 90 currencies for Revolut.

Just like Revolut, the exchange rate used is the “mid-market exchange rate … Also known as the interbank rate or spot rate”.

One question: this company is UK based, can resident of other (any?) countries use this service?


I really don’t know. Maybe download the app and give it a try. It seems to work anywhere that debit allows…

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Hey guys revolut seems great, thanks! I’m only not sure how to put money to the account if my debit card is issued in Ukraine, I certainly do not want to pay for SWIFT transfer as per their FAQ : ( Is there anyone here with a similar situation?

Ah, seems like this fee applies only to bank transfer. So, all’s good, thank you.

I just successfully signed up to Revolut & I am NOT a UK resident :smile:

Will try to actually use this & see how it goes. Thanks again for the tip @neutron, this could change quite a few things in my personal finances.

Hey, @neutron I think you should provide a referral link to anyone who appreciates your advice. I most definitely do.

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Yes, they work in other coutries as well.

If have you do an international bank transfer & exchange currency at the same time, then you might want to use CurrencyFair or TransferWise for that purpose.

Hi all,

I spent many hours reading about & trying banking services.

I finally got to write an article on my new blog regarding “Banking solutions for travellers, expats & Digital Nomads”.

I believe it will help many people to save ton of research & time consuming try-and-error.

Please feel free to give me your feedback & let me know if there is a service I forgot to mention.

And… Merry Christmas from Ko Toa! :blush:

Yeah, unfortunately referral links arent allowed on here. I’m happy just to know that a few people can benefit really.

Just ordered my revolut card for my trip to India and SEA. I’m a US citizen currently living in Germany and had no problem getting my card sent to my German address. It’s cool how they give you a digital version of the card right away. Thanks so much for the recommendation neutron!

I’ve written a review of Revolut on my blog. You can read it here:

For those in the EU, Number26 is also a good alternative. For those who want true offshore banking, check out the Unionpay debit card from Standard Chartered in Hong Kong. No withdrawal fees, no forex fees, no monthly fees.

There is a tool to exchange money cheaply :

It checks in real-time exchange rates, spots and alerts you automatically when it is best time for you to transfer money, in terms of which money corridor you follow. So you can save even more money when you do your transfer, because it is at the best exchange rate. I use it and it works very well.

Just a quick update on this.

The card is great when it works well.

We have lost some money somehow on the card (multiple cash withdrawals that aren’t accounted for - maybe fraud, maybe a glitch in their system - it is impossible to tell unless we get in touch with the bank where the money was taken out). Quite a lot of other people are saying the same thing. After the fraud happens they block your card - so you can’t use it any more - and maybe lose the remaining money on the card -I don’t know?

I don’t recommend using the card as a debit card - you wont be able to track your spending…

Highly recommend to just put the money on you want to withdraw, and then withdraw it at a cash point - straight away. Do not leave any money on the card/in the app - unless you want to lose it.

We’ve found the customer service pretty patchy in places. You also cannot get a detailed breakdown of transactions - which makes life really difficult.

Stay safe!