Revolut’s other big selling point is travel. Of course there is a whole raft of insurance (which nobody ever uses, but which can come in handy), DragonPass for those who prefer nice lounges to cold airport halls, and also withdrawals and FX.

On withdrawals, the offer is actually rather opaque. While it is true that Revolut lets you withdraw €2,000 without charging fees, a great many foreign banks, and especially their ATMs, do charge fees. Revolut will not cover them, something the T&Cs never mention. They merely say the following:

Withdrawals are free up to €2,000, after which fees apply: 2% of the withdrawal, with a minimum of €1 per withdrawal.

That said, the website is a tiny bit more precise:

But the real story lies elsewhere. In the travel section, the website promises this:

Unlimited exchange in more than 29 currencies, with no extra exchange fees from Revolut, Monday to Friday.

To exchange currency, the T&Cs describe a perfectly standard method:

You get the Revolut exchange rate;
Revolut adds exchange fees (where applicable); and
Where possible, it shows you the total cost before the exchange goes through.

As for the fees, they are listed a few lines further down:

What follows states very clearly that these are the only fees, whether it is a foreign-currency payment being converted or a currency exchange.

Except that reality is very different.

Revolut applies a spread depending on the type of account used.