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Using the Revolut Card in Thailand: Is It Worth It?

What is Revolut?

Revolut is essentially a digital bank. It has no high street branches and everything is managed via an app.

Revolut offers a multi-currency prepaid card, which allows you to pre-load money and shop anywhere in the world.

You can hold balances in different currencies and, as you spend, Revolut converts money from your Revolut account to the local currency you're spending in.

Family and friends can also send money to your Revolut account, and you can send money to others and pay for bills and services.

revolut-card-package

Your Revolut card will arrive in this fancy packaging.

Why is Revolut useful for traveling?

The card is prepaid, so you can top up your card before you travel and reduce the need to carry cash.

It's good for those who are working to a budget as they travel, because you can monitor how much you spend via the app and try to stick to the amount that you have prepaid.

The Revolut app provides automatic classification of expenses in categories such as cash, travel, and services,  so you can see exactly where your money is being spent.

Any money left over after you have finished traveling can be transferred back to your primary bank account.

This is also a good backup card to use in emergencies and when you're out of cash.

Are the exchange rates good?

The Revolut exchange rates are better than exchange bureaus because Revolut uses the Interbank rate.

The interbank exchange rate is the rate at which banks transfer money between themselves. In other words, when Bank A exchanges money with Bank B, they do so at a rate not normally accessible to us normal folk (1).

The app also shows the current exchange rates between different currency pairs – so you can make a decision before you spend. This enables you to calculate in real-time how much something will cost in your original currency.

Does Revolut give you free ATM withdrawals?

You can withdraw up to £200 / Euros per month (free), and you are charged 2% thereafter.

Note that when using an ATM, you should choose the “without conversion” option. This will allow Revolut to handle the conversion and you'll get a much better rate.

revolut-thailand-card-package

Can I withdraw from ATMs in Thailand – free?

I very much doubt there is an ATM in Thailand that does free withdrawals anymore. The majority of ATMs will charge a local fee.

But that doesn't mean the Revolut card isn't free, it's just that you will have to suck up the local charge, usually 150-200 Baht.

Can I use Revolut to pay in hotels, restaurants & shops?

Yes. Expats and travelers all over Thailand are using Revolut. It can be used anywhere that accepts Visa and Mastercard.

Note that shops in Thailand will ask you to charge your card in your home currency (EUR, USD, GBP, etc). Say no and have them charge you in Thai Baht. Doing so will avoid a 3%, or possibly more, surcharge.

Let Revolut do the conversion and you'll get a good exchange rate.

Can I shop online with Revolut?

Aside from the the physical card, you can have a Revolut virtual card. You can get this free of charge.

This card lives inside your app and you can use it for online shopping.

The process for ordering a virtual card is the same as ordering a physical card. You simply go to the ‘Cards’ section in the app, select ‘Virtual’ and choose a virtual card.

The card will instantly appear in your app.

What are the fees?

Withdrawals:

Free withdrawals up to £200 per month, then a fee of 2% for all withdrawals above this.

Send Money:

  • Transfers to other Revolut users: Free
  • Turbo Transfers (half the time): £5
  • Payments to accounts outside Revolut: The app lets you know if a fee will apply prior to the transfer.

Exchange Money:

revolut-fees-2019

Different fees apply for high-frequency standard customers. A high-frequency standard customer is someone who:

  • is a standard customer (not a premium or metal user); and
  • has exchanged £5,000 (or the equivalent in a different currency) in any rolling month.

Who is eligible for a Revolut card?

At present Revolut supports legal residents in the European Economic Area (EEA), Switzerland, and Australia. The EEA includes:

Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom.

If you're from the US, you can join the waitlist and get a card very soon. Click here to do that.

How do I get my card?

=> Click here to order your card

There is a postage fee of £4.99.

my-revolut-card

This is my Revolut card. Obviously I blocked out some personal information.

How do I use the card?

Once you get your card, simply follow these steps:

  1. Top up your Revolut card via the app before starting your journey
  2. Use your card as you would any other card
  3. Withdraw from local ATMS if you need to
  4. Top up your card via the app if you need to (it's linked to a bank account of your choice
  5. When your trip ends, send the remaining money back to your bank account via the Revolut app.

The short video below walks you through the app.

How secure is Revolut?

In many ways it feels more secure than regular banking, simply because you are checking the app on a regular basis to see your transactions and what you have spent.

You have the ability to freeze and unfreeze your card, so if you want to stop spending on your card, or you spot a suspicious transaction, you can simply freeze the card via the app.

The app uses location-based security. So if you're spending money on your card in Thailand, and then the next day your account is used in Russia,  you will be alerted of the fact.

There's also a chatbot built into the app that is able to answer the majority of questions regarding your account and card.

revolut-card-instructions

This is written on the back of the package my card came in.

Other Revolut Card Services

Revolut Premium

Revolut also has a premium card for those who want to take advantage of extra benefits. It costs £6.99/month and gives you the following extra benefits:

  • 3 exclusive card styles for you to choose from: silver, black rose and rose gold
  • Unlimited foreign exchange (no extra fees for foreign purchases, etc)
  • Double ATM withdraws abroad (no fees up to €/£400)

Revolut Metal

If you're a high flyer, baller, whatever, you can opt for a Revolut Metal card, which costs £12.99/month.

It has all the Revolut Premium benefits, plus:

  • A fancy metal card
  • Triple ATM withdraws abroad (no fees up to €/£600)
  • Up to 0.1% cashback within Europe and up to 1% outside Europe on all card payments.
  • Free concierge assistance for all your hotel reservations and flight bookings
  • Exclusive events and more.

Wait, What About Transferwise… Is Revolut Better?

Transferwise has a Borderless account service that comes with a MasterCard, just like Revolut. The two services are fairly similar but there are key differences, as follows:

  • The Transferwise Borderless Account is available in more countries than Revolut.
  • TransferWise offers better rates, which don't change depending on foreign market exchange hours.
  • Revolut has a wider range of products, with support for Cryptocurrency and insurance products.
revolut-vs-transferwise

Image credit: thecurrencyshop

For me the two have a different feel to them. I use Transferwise Borderless to receive money in different currencies and manage those currencies between my bank accounts.

I use Revolut for traveling as a prepaid backup card, and as a card I can give to my wife if she doesn't have hers, knowing that she can only max out to the limit I have prepaid on the card – haha!

Of course I could do the same with Transferwise, but I treat Revolut more as a pay-as-you go type thing.

=> Read my Transferwise Borderless review here

Revlout is a good option for parents with a gap-year child traveling around the world. You can give your son or daughter a budget to work to, and then when they need more money they can contact you and you can top the account up for them.

Revolut Pros & Cons Summary

Pros:

Revolut is pretty cool and offers the convenience of not having to carry large amounts of cash in a foreign currency.

  1. Free ATM withdrawals up to £200/Euros per month.
  2. Get the Interbank exchange rate and save money on the usual foreign currency conversion fees.
  3. Spend and withdraw money abroad in more than 150 currencies.
  4. 1-2 day bank to bank money transfers – quicker with Turbo (incurs a fee).
  5. Use the app to monitor your expenses, manage your card, and do currency conversions.

Cons:

  1. Identity verification:  It took me a good few goes to scan my driving license and get it accepted. I was then asked to take a selfie, which I absolutely hate because I have to look at myself in the camera for more than a few seconds. I then received a message saying the verification had failed, and had to do it all over again. But hey, this is the digital age and the security is necessary.
  2. In Thailand, Revolut adds an additional 1% markup (making it 2% in total) on the weekend when the market is closed. They say they do this because the Baht is an “illiquid” currency – one that lacks market depth and trades at low volumes. This makes such currencies riskier to trade. I don't buy this reason, though, because Transferwise doesn't do this. So I don't use it Revolut the weekend, period.

It's cool though, and getting a card is super easy.

=> Click here to order your card (free)

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Still have a question about using Revolut in Thailand? Drop it below.

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Comments Sort by : newest | oldest

  1. S. Beets says

    Nobody has remarked on either card's Customer Service. I have a card from both companies. With Revolut things are fine until something goes wrong. If your problem does not fit into their FAQs then forget it: they have no usable postal address, no email service, no phone number to call and their touted Chat line is only manned by a human being for a small percentage of the time, outside of which it is manned by a Chatbot whose aim is to steer the caller towards the FAQ list. So if you are abroad and have an emergency that Revolut's FAQ doesn't solve, forget it.
    TW has a manned Customer Service phone-in centre, an email address, and a postal address .
    Reply

    • TheThailandLife says

      I've never had an issue with the card but you're right, I just checked. The chat bot seems to be for Premium and Metal plan users only. Sadly many companies are going this way, as we move towards everything being digital / AI operated.
      Reply

    • Martin1 says

      Dear S. Beets,

      While I second your experience with both companies, I have a hint for the chatbot in Revolut: If you enter "speak to an agent" (perhaps just "agent" is also enough), you will be transferreed to a human.
      Reply

    • Lolo says

      This is not correct, they do have a chat service. And when I see how much they recruit at the moment, I guess they are developing it. I used it once, it was ok even if they couldn't solve my problem.
      But it is true that it is hard to find it in the application. Actually, you must go through the FAQ's then, when you can't find the solution, then you have the CS Chat.
      By the way:
      - ATM fees are 220thb
      - All banks, maximum withdrawal is 20.000thb except the yellow ones: Krungsri
      - when taking your money, you will accept the 220thb fees, then if you want the ATM (Thai bank) to do the conversion. Then PRESS NO. The rate is shit !!!!
      - Careful if you have a metal MasterCard, mine just be blocked, I hope I can have it back tomorrow 😭
      Sum num na !!!
      Reply

      • Martin1 says

        James E.,
        sorry, but I am not happy with your reply!

        The Revolut card can indeed be loaded with THB - not directly currently, but indirectly.
        But that is not what Cape wants.

        Cape, there is a service called DeeMoney. That, and several Thai banks offer fund transfer to abroad.

        BTW: do you still have your bank card? Then use that to either withdraw your funds at an ATM, do a cash advance, or load your Revolut card using it.

        BTW: There is also a FinTech called Paysend. They allow direct money transfer from credit/debit card to credit/debit card for 1€ oder 1GBP.
        In addition they offer a global account like TransferWise does.

        Cheers!
        Reply

        • James E says

          Martin1. Had you read Cape's post you would realize that he's not *in* Thailand so he can't access some of the means that are readily available in Thailand. My BKK Bank ATM is worthless in the US, UK, Canada, or the EU because of the network it's on. DeeMoney requires an active Thai mobile number and an in-person application to set up their online service. PaySend does not support outbound Baht transfers according to their website. His money is in a Thai Baht account so indirectly loading his Revolut card is kind of not an option. Jeez.
          Reply

          • Martin1 says

            James E,
            you are more confusing the people. :-(
            Firstly, I DO have read his post!
            Then, Cape did NOT write that he is with Bangkok bank. But by the way: I have THREE cards with my Bangkok Bank savings account: (Old) Visa (but still valid AND working), UnionPay, and the new MasterCard.
            Except for the UnionPay the other cards are fully working in the EU both at ATMs and at POS (and I guess on a worldwide basis, too). I tried that by myself!
            UnionPay also works at several European ATMs, but not each of it.
            Cape did not write if he has any bank card therefore I was asking.
            Paysend does indeed not support outbound Thai Baht transfers.
            But why should they? In the EU hardly anyone pays with THB.
            But of course Paysend can transfer e.g. GBP, EUR, and USD.
            If the originating bank account/card is in a different currency they would convert it accordingly.
            I *am* aware, that he is currentl NOT in Thailand, but mostly I mentioned Thai banks and DeeMoney because someone wrote, I qoute, " that's the only 3rd party method I'm aware of that allows outbound FX right now."

            BTW: Jeez. You should not reply posts at 1 a.m. after having had a couple of beers. :-p Your reply was a) rude, b) not positive, and c) not helpful.
            Reply

            • James E says

              1) 1:05am BKK time. 2) I don't drink beer. Here's the deal, Martin1: Cape was looking for a way, not being in Thailand, to get his Thai Baht out of his bank in Thailand in a usable form of, I'm guessing, Euros. Revolut won't do it. TW won't do it. DeeMoney won't do it because it requires an in-person interview to set up online access. A bank-to-bank transfer could work but 1) the ability to do it online requires an in-person meeting, and 2) the fees and exchange rate would be unfavorable. This left, IMO, Western Union as Cape's best choice. /end
              Reply

    • Martin1 says

      Stu,

      It depends! (Like most things on this planet. ;-) )
      It depends on the exchange rate trend, and WHEN you want to use your funds.
      Currently, as the exchange rate between EUR and THB (in my case) is increasing it might be a better option NOT to have THB on your Revolut account. Unless, unless you want to spend it on weekends: because then Revolut charges some percent extra to compensate risk for sudden exchange rate changes (as they only get currents rates Mondays to Fridays).
      Reply

  4. Martin1 says

    I both have a Revolut Metal and a TransferWise borderless card and live in Thailand, too.

    Five minutes ago I used my Revolut card to pay at 7 (Eleven ;-) ), whereas my TW card does not have any funds on it.
    Why is that?
    I compared the rates of both cards, Revolut has significantly lower fees.
    And that also applies when topping up the card. The Revolut I top up in seconds for a 2 % fee (and get back 1 % while spending. :-) ).
    The TW card does not offer that, and topping up is more expensive.

    In regards of the fu**** ATM surchange in Thailand: try to use AEON ATMs as they charge "only" 180 THB per transaction.
    (In my case I can avoid that as I use Paysend.com's or TransferWise's service to transfer funds to one of my several Thai bank accounts.)
    Reply

    • TheThailandLife says

      Ooh, you have the metal, nice one! I agree that Transferwise is great for sending money and Revolut probably a better option for pre-loading and spending. But you have better terms because you have the metal card, right?
      Reply

      • Martin1 says

        Yes, Peter, that is correct! Higher free ATM cash withdrawal, 1 % cashback in Thailand, can buy stocks and gold. Insurance included, 1 time free lounge visit.
        And the metal card was delivered to me for free via express to Asia!
        TW can't do all that.

        As far as I know is Revolut now available in the US - you might want to update this article.
        Reply

      • Martin1 says

        Yes, Peter, that is correct! Higher free ATM cash withdrawal, 1 % cashback in Thailand, can buy stocks and gold. Insurance included, 1 time free lounge visit.
        And the metal card was delivered to me for free via express to Asia!
        TW can't do all that.

        As far as I know is Revolut now available in the US - you might want to update this article.

        Oh, I wanted to add one important thing: As REvolut is a multi-currency card (incl. cryptos and gold) I would recommend anyone using this card to convert into the local currency (i.e. THB here) during the week!
        Is is a pre-paid card anyway, so why not hold funds in the local currency?
        Doing so the mark-up at weekends are avoided! :-) And you still get the cashbask! :-)

        BTW: As both companies are located in the UK, money can easily and quickly be transferred via free bank transfer between those two cards. :-)
        Reply

    • TheThailandLife says

      I haven't reviewed the 28 Degree Card but you can initiate a chargeback on a Revolut card in the same way you can do on a bank card. If you think a transaction is fraudulent you contact them to open a case.
      Reply

        • TheThailandLife says

          I quote: All of your card transactions are processed by the Mastercard or Visa network and are protected by Mastercard or Visa rules.Honestly, I wouldn't use Revolut for that. Maybe a cheaper internal flight not international. It's more of a travel spending card that you top up for a holiday; for purchases like meals, nights in hotels, clothes shopping, etc.
          Reply

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