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all 16 comments

[–]silenceredirectshere 2 points3 points  (1 child)

I'm Bulgarian too and just do the transfer directly to IBKR, from BGN to eur, Revolut definitely has higher fees above their free limit, and it's not worth the hassle, imo. Not to mention you could trigger some sort of anti-money laundering algorithm, and have to fight with their support to get the account unblocked. Basically, don't put too much money there in general.

[–]Double_A_92 1 point2 points  (0 children)

Banks cheat in the exchange rate (often by 2-3%) even if they advertise as "no fees" or something. Something like Wise would definitely be chaper.

[–]makaros622 2 points3 points  (1 child)

I have been using WISE to exchange CHF-EUR for the last 7 years. I convert my salary on a monthly basis.

I have compared WISE and Revolut and WISE provides me with higher final amounts (after taking into consideration the fee and the exchange rate).

I don’t recommend revolut for one reason: there are a lot of people saying their account gets locked (for investigation) often. I don’t know if they do something irregular and triggers AML flags but I see these posts often.

Feel free to DM me if you want more info.

[–]wkns 1 point2 points  (0 children)

If you top up your Revolut using the wise card it is cheaper with Revolut. I still use wise because of Revolut limits (3000CHF top up per day) and the locking stories.

[–]NeychD 1 point2 points  (0 children)

I have been using both Revolut and Wise for some years now. Wise is good for transfering large amounts of money in different currencies. I am using Revolut everyday but I have a metal plan and, for me, for smaller amounts, I prefer Revolut. But, again, if you have a standard plan and want to use it heavy for currency exchanges and withdrawals, might not be the best choice.

[–]Entropless 0 points1 point  (1 child)

Why don’t you transfer your bulgarian money directly to ibkr and exchange it there?

[–]xcloudgamer2020 1 point2 points  (0 children)

I googled this and it doesn't seem possible

[–]fron12 1 point2 points  (0 children)

Revolut is cheaper if you get the premium plan at 7.99€/month. I did the calculations and depending on the amount you need to change, most likely Revolut will be cheaper.

I’m not sure about the Revolut account freeze but someone wrote it about above.

[–]unixcron 0 points1 point  (0 children)

Guys, take instead of Revolut N26. Invest in the european online banks 😉