Currency exchange at low fees and cost

Currency exchange at low fees and cost

currency exchange

Why do you need a currency exchange solution

Currency exchange at low fees is very useful when investing in Crowdlending.

There are 2 main reasons why you will need to exchange your money in another currency when you invest in Crowdlending:

  1. You have money to invest but it is not in Euros (which is the most commonly used currency for Crowdlending and Crowdfunding platforms in Europe)
  2. Some Crowdlending sites propose investments in other currencies than Euros

In these two main cases, it will be useful for you to be able to convert your money in the adapted currencies with the lowest fees as possible.

Currencies used by the main Crowdlending platforms in Europe

Grupeer EUR
Crowdestate EUR
Crowdestor EUR
Fast Invest EUR, PLN
Envestio EUR
Robocash EUR
Housers EUR
Bondora EUR
Property Partner GBP 

Using Revolut for currency exchange

Revolut is a secure, mobile-based current account that allows you to convert currency at the best possible rate, transfer money internationally at no cost and spend money around the world without any fees.

Having launched in July 2015, Revolut already has over 3 million users and claims to have saved them over 160 million dollars in bank fees.

The founder of Revolut, Nikolay Storonsky, was a former trader at Credit Suisse and Lehman Brothers.

What are the Revolut fees

There is one really important thing that you need to know about Revolut fees: money exchange fees vary depending on the time of the day. Basically:

  • If the Forex (currency market) is open: Fees will be low (~0.02%)
  • If the Forex is closed (e.g. during the night): Fees will be higher (~0.55%)

Here is the calculation of the fees during the open and close Forex. I took the example to convert from Euros (EUR) to Swiss Francs (CHF) (infos)

Currency During Forex market hours Outside of FX market hours
CHF Bloomberg: 1.1234 CHF (= 1 EUR)

Revolut: 1.1232 CHF (= 1 EUR)

The exchange fees are 0.018%

Bloomberg: 1.1244 CHF (= 1 EUR)

Revolut: 1.1232 CHF (= 1 EUR)

The exchange fees are 0.543%

Basically, if you convert your money outside the Forex market hours, Revolut will add a fee of around 0.5%. So pay attention to convert your money in the middle of the day during the week. In this case, the fees of conversions are really small (~0.018%). To exchange 1’000 EUR with Revolut it will cost you only 0.18 EUR.

Main useful functionalities of Revolut

Mange Multicurrecy accounts Currency Exchange Money Transfer

Additional Bonus: you will receive a Credit Card

Start using Revolut with bonus

You can register to Revolut by clicking the button below to receive a free account and a free Visa Credit Card.