Revolut Charges Fees Related to Foreign Exchange

Revolut recently shared that they had crossed one million customers in Ireland; now the digital bank is being accused by some of acting like a regular bank as they increase fees on foreign exchange; they will now charge .5pc on transactions above €1,000 a month for those using the basic debit card account; currently customers can spend up to €6,000 a month without incurring fees with most currencies; according to Revolut only a small number of Irish customers will be impacted; those with premium and metal plans continue to get free exchange though these accounts have a monthly charge; the fee also will increase on weekends to 1pc and the new fees will also apply for foreign currency transfers; some customers have been confused by recent communications from the company and some experts warn that fee increases may become more common for the fintech.

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