Price comparison

We compare the total cost of sending an international transfer with Revolut compared to similar providers, including the major banks and payment service providers in your country (“Providers”). By “total cost”, we mean the total amount you need to pay to send the transfer, inclusive of any exchange rate and transfer fee.

We're committed to transparency in how we compare our services against other Providers. Whenever we make a claim about savings, it's based on the data we collect using the principles outlined below. We believe in fairness and transparency, so we include other Providers even when they are cheaper for a particular transaction, and show you how much you’ll save using them over Revolut.

When we state you can "save up to" a certain amount or percentage, we calculate this by comparing our total cost against the highest-priced provider in our comparison set for that route and amount.

Providers’ data is taken directly from their websites by collecting publicly available transfer costs. The method we use depends on the specific Provider and whether they make their costs available by a simulator, a statement of fees, or combination of both.

If a competitor provides a specific formula or simulator for costs on their official website, we collect data using different transfer amount thresholds in the sender's currency. For example, for GBP as the sender currency, we collect data for the following amounts:

£101, £1,001, £2,501, £5,001, £10,001.

• Exchange rate: we collect exchange rate data every 24 hours. At the moment of data collection, we calculate the percentage difference between the exchange rates the Providers offer to you, and the market rate, which is called the “markup”. For example, if at the time of data collection, the market exchange rate from GBP to EUR is 1.2 and a Provider’s exchange rate is 1.1, then the markup is (1.2 - 1.1) / 1.2 = 0.08.

When we show Providers’ costs, we’ll check the market rate again at that moment and estimate the exchange rate the Providers would offer to you using that percentage difference.

For example, if the market exchange rate from GBP to EUR when you use the price comparison tool is 1.1, and the markup for a given Provider is 0.08, then we’ll estimate the Provider’s exchange rate to be 1.1 * (1 - 0.08) = 1.01.

To ensure we’re being fair to Providers when calculating the exchange rate, we use the exchange rate data collected for the nearest threshold to the amount of your transfer. For example, if you’re sending £800, and we collected data from £101, £501, and £1,001, then we'll use the £1,001 threshold. The reason behind this is that fees usually vary depending on the amount sent: normally, the higher the value of the transfer the lower the fee becomes.

• Transfer fee: the method depends on the specific Provider and how they set their pricing. If a Provider has a static or flat fee, we apply that. If a Provider has a dynamic fee, we take the transfer fee we’ve collected for each threshold and assume the transfer fee changes evenly across the range between two thresholds.

For example, if you’re sending £750, and we collected a £10 fee at the £501 threshold, and a £20 fee at the £1,001 threshold for a particular Provider, we’d calculate that Provider’s fee to be £14.98 for £750. Transfer fees are rounded down to the second decimal place.

We do our best to ensure the accuracy and reliability of the information and we update it daily. However, it’s not updated in real time, so we can’t guarantee the information is 100% accurate, complete, or current, at any given time. Because of this, and because we collect the data using thresholds and not precise amounts, the total cost you see from our comparison table may differ to the cost stated on a Providers website.

Our comparison table usually displays two Revolut plans.

On our website, we show the transfer cost for:

• our Standard plan.
• the cheapest paid plan with a lower transfer cost than Standard.

In the Revolut app, we show the transfer cost for:

• your current plan.
• the cheapest paid plan with a lower transfer cost than you get under your current plan. For example, if you’re on Premium and both Metal and Ultra provide a lower transfer cost, we’ll show Metal.

While our paid plans may offer lower transfer costs, they also come with monthly subscription fees. These fees are not included in our transfer cost calculations. If you choose to upgrade, we’ll always show any monthly subscription fees before you confirm.

For other Providers, we use their standard rates. We don’t compare against their paid plans because that information isn’t always publicly available and their paid plans may not be available to everyone (for example, they may have eligibility criteria).

The cost of a transfer can normally be broken down into two parts: the exchange rate, and the transfer fee:

• Exchange rate: sending money internationally often involves two different currencies: the currency you’re using to pay for the transfer, and the currency the beneficiary will receive. For this reason, international transfers generally include an exchange rate. The difference between the exchange rate and the market rate is called the “markup”. Some Providers clearly set out this markup on top of the exchange rate, while others include it in the exchange rate.

• Transfer fee: this is the cost a Provider charges you to send the money, after any currency exchange has been performed. It’s usually a combination of a fixed fee and a variable fee based on the amount of the transfer.
  In addition to the fees displayed in the comparison table, the receiving bank or correspondent banks may charge their own fees for international transfers. These fees are not included in the comparison table, as we don’t have visibility over them.

The content of this page is for general information purposes only and does not constitute financial advice. If you have any questions about your personal circumstances please seek professional and independent advice. Revolut is not a financial adviser.