Calis Beach and Fethiye Turkey Discussion Forum
Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: Bluwise on August 26, 2020, 10:26:15 AM
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If you have £, TL and euros in your account and want to pay in euros in Turkey (eg at Dalaman duty free) is there an option when you are paying or will it automatically pay in TL? Thanks
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Please be aware that the Turkish banks are now charging between 5 & 12% for card transactions, even with zero % cards
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>:(
Please be aware that the Turkish banks are now charging between 5 & 12% for card transactions, even with zero % cards
Oh no, so if I pay by Revolut card in TL anywhere in resort I am going to be charged?? That's spoiled my plans then......... >:( >:(
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I’ve got a TransferWise card which I think is the same, mine is loaded with TL. I used it in shops and restaurants no charge, however one restaurant took the payment in pounds without me noticing and that cost me an extra £2. I was also charged for taking cash out from an ATM 24tl for taking out 900tl.
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Cash is still King. :)
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Iv got the Starling account which I believe is similar to the Revolut, I was gutted to get charged nearly 6% on wivdrawing tl, as even though Starling does not charge to use abroad the banks here are!
So what Iv been doing is doing my shopping paying for meals in a lot of places with the card and then still getting the MasterCard exchange rate.
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Is the charge on Revolut just for withdrawing cash then or transactions/purchases as well? Im confused as I thought purchases were free :-\
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I think what it is Bluwise is it’s not the uk side of things that is charging it’s the Turkish side when you wivdraw currency ( even tl) but someone has said the PTT machines don’t charge...Iv not been charged on any of my purchases hence why I decided to pay by card, and I’m finding I prefer it now...
On saying that I’d hate to tell you the wrong thing so maybe someone who has the Revolut can tell you more!
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I think what it is Bluwise is it’s not the uk side of things that is charging it’s the Turkish side when you wivdraw currency ( even tl) but someone has said the PTT machines don’t charge...Iv not been charged on any of my purchases hence why I decided to pay by card, and I’m finding I prefer it now...
On saying that I’d hate to tell you the wrong thing so maybe someone who has the Revolut can tell you more!
Thanks for that - maybe I will just pay a few bar bills when we are over and see what happens. I was warned about withdrawals charging so hadn't planned on that anyway. Appreciate your help though.
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I think that's the way to go - Turkish bars, shops & restaurants much prefer cash but this is making it difficult, and it's the Turkish banks doing it.
Card where possible, change cash as required. A real shame because Revolut/Starling was great when in town.
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I got the transfer wise card too😁
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I think AK Bank was free to withdraw TL from, with Revolut, last summer. You have to make sure you press the correct button though otherwise you get a conversion charge.
As for spending on the card - I've not heard of anyone getting charged extra for using their Revolut Card.
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As to the OP's question. If you want to pay in a particular currency then just sate that at the time of your purchase. If you only have one currency on the card then it will take that at whatever the exchange rate is at that time.
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Thanks Stoop ;)
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Your welcome Bluewise it’s exactly as Keith has said the Turkish banks are making it hard with the high fees on wivdrawing cash.
We were wivdrawing tl from Starling from the Akbank ATM’s last year and even up to Feb this year without getting charged and I know what you mean Stoop re being careful selecting the right button to avoid charges but since Feb the message has changed and I got charged 200tl commission
That’s a few beers price lol!
Paid for something online yesterday still no charge for purchases and good exchange rate at 9.60...
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Hi all,
Went to www.revolut.com to get set up and it sends you a link to your mobile to download the app.
Then when setting up it starts asking for a photo of your passport, and then a < 25 second selfie video !!
Is this correct, or have I hit the wrong site?
Thanks
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Hi all,
Went to www.revolut.com to get set up and it sends you a link to your mobile to download the app.
Then when setting up it starts asking for a photo of your passport, and then a < 25 second selfie video !!
Is this correct, or have I hit the wrong site?
Thanks
Hi, that's correct...it's how Revolut verifies your own identity and prevents identity fraud from others who may try to use your likeness to open an account. It's okay, and I've used Revolut for about 5 years now and have saved thousands. (Just returned from Fethiye this morning and used Revolut almost exclusively.)
Good luck.
Dale
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thanks, I'll do my selfie
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If you want to change your password or forget it at some point, you have to do a short video again for verification.
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There are no charges at all on Revelout if you use your card as you would any debit card to pay in restaurants, bars or shops.
Charges will apply from the Turkish banks if withdrawing money from ATM.
We use the card for everything, only keeping cash for boat trips, taxis etc
It's so much easier than changing cash all the time too
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One more question on the Revolut card.
Card has arrived. Do they send a PIN or do you just use the 4 digit code you use to log into the app on your phone?
Thanks
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Use the same PIN to start with. If you want you can change the PIN for the card at an ATM using 'Card Services'.
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Thanks
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I knew I'd have another question.
Using the Revolut app I want to transfer money from my bank account to Revolut.
If I transfer x amount of Sterling, when I use my Revolut in Turkey will it just take Lira at an exchange rate applied by Revolut?
Or am I supposed to transfer Lira onto the Revolut card nit Sterling?
Thanks
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You can transfer £s from your Revolut account to TL in the app. You can have several different currencies held on the card at any time via the app. You'll get the exchange rate for that day when you transfer. For instance, today's rate on the app is 9.75 in comparison to the Post Office's 8.98.
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brilliant, I understand now how it works, thanks KKOB
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Just received this from Revolut. It's worth reading.
Unfortunately, fraudsters are always looking for new ways to get access to your account and money. One common way they try to do this is by placing ads on Google with phone numbers claiming to be Revolut customer support.
To keep you safe, at Revolut we provide customer service only through our app. So if you see advertised customer service phone lines, or receive text messages asking you to verify your Revolut details, you should instantly know they are fake.
You can speak with Revolut customer support, but only through the Revolut app. We will never send you a text message asking you to click on a link, or to send us sensitive information, such as your card details. The automated number to report a card lost or stolen is on our website www.revolut.com and is +44 203 322 8352. You can also read about this on our blog.
How we detect and report fake ads
Our security team constantly monitors Google to find fraudulent ads. When we find one, we immediately report it to Google and request that it’s taken down. Only Google can remove the ad. They also work to identify and report the telecoms companies linked to these fraudulent numbers and then request that they are disconnected.
What to do if you are unsure
If you have received a message claiming to be from Revolut, and you are unsure if it is legitimate or not, please open the app and speak with our customer support team. It really is better to be safe than sorry.
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For cash withdrawals with Revolut Garanti appears to be cheaper than AK Bank
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Whats everyones views on Revolut (Similiar) cards?
With the Turkish Lira been so high at moment for tourists - are people better off if they have the cash available now to upload onto a card with Lira or take cash over with them and exchange when in resort (cant wait for the day)?
Thanks in advance of replies:
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I have a Wise account and put money on my card when the rate is good. I know there’s a chance it could go up further, but can’t see it making much difference with the odd £100 now and again.
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I know im been a bit thick but rather have REVIEWS from fellow Calis beach forum users than reviews from the companies itself:
So do you upload cash onto cards and then in Shops, Bars, Restaurants etc use it like a Debit card (no charges), but dont take currency out of cash machines due to charges.
If i get currency from FX at moment the rate is 11.42tl, what rate is it currently via Revolut (Similiar) cards?
Any other info you could provide - pro`s/Cons would be appreciated
Thanks in advance
Andy
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Yes, you just load a Revolut card with £s. It's the same with Monzo, Starling, Post Office etc cards that are linked to Mastercard. Then use them just as you would any other debit card making sure you ask for the local currency rate. (Don't use the card to pay in £s when out of the UK).
The current rate on Revolut is 11.85 Monzo is 11.92
No cons that I've come against. If you've got a good WiFi connection you get an almost instant notification of any transaction and your current remaining balance.
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Thanks KKOB so if was to get Monzo card and add £1000 into TL does card top up with TL at the 11.92 rate currently so 11920TL and then spend using TL always
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With the wise debit card you choose the currency you want to load and can have more than one. I have TL and pounds but you can have many others. The rate at the moment is 11.8554. I use it in shops, restaurants etc.
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Thanks KKOB so if was to get Monzo card and add £1000 into TL does card top up with TL at the 11.92 rate currently so 11920TL and then spend using TL always
It'll obviously depend on the Mastercard rate on the day. Get the card, put your GBP onto it, and then exchange to TRY at whatever the rate is on that day.
Personally, I use Revolut, Monzo and Starling, which are all very easy to obtain, and bank credit cards and keep them separate. That way if one's nicked or doesn't work for some reason, I've got options with the others. They're also very easy to block and to transfer funds from one card to another using the apps.
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Thanks to all who replied.
Much appreciated
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Revolut are offering a very good 12.05 while the XE.com rate is currently at 12.09.
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Although the xe.com rate is 12.14 at the moment Revolut are only selling TL today at 11.986.
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The reason for the difference is that Revolut adds a markup on weekend currency exchanges. If you trade during the week, it will be much, much closer to the interbank rate. Here's the explanation from the Revolut site:
"The foreign exchange markets are illiquid, effectively closed, between Friday 5pm New York time and Monday 7am Auckland time. Therefore if you transact any FX between these times with Revolut, either changing money between currencies or spending on the card in a currency in which you do not hold a balance, then Revolut has no FX market rate to use. Consequently Revolut takes Friday’s closing rate and applies a markup of 0.5% for currency pairs containing any combination of USD, GBP, EUR, AUD, CAD, NZD, CHF, JPY, SEK, HKD, NOK, SGD, DKK, PLN or MXN, and 1% for any other currency pair. This markup protects Revolut against any market movement when the FX markets reopen on Monday morning."
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Yep. I forgot to point-out that it was the weekend rate.
It's now 12.02 at Revolut compared to the Xe rate of 12.06
Just been looking at the exchange rate for August 2004 when we moved out there. It was a 'record breaking' 2.75 to the £ ! :)
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Revolut rate is 12.17 against the Xe.com rate of 12.20.
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I’ve been using Monzo and Starling for years now. Both are good but I tend to use Starling more as fewer restrictions on use.
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Starling's handy because you can load cash onto the card at UK Post Offices.
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It also doesn’t have a spend restriction at ATMs per week in the same way as some other cards although it still has a limit of £300 per day.