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Paying for lessons abroad

 Poster: A snowHead
Poster: A snowHead
@Markymark29, as to private for our “group” we have quite a range of abilities. My Neice and nephew will have only had approx 5 weeks of dry ski slope lessons and will be their first time on snow.

Keira is austistic and dyspraxic hence the complicated pattern I trying to book to make this easiest on instructors and her.

Ellie has been going at least annually since she was 4 ( is now 12) and Sparklies party range in age from 4 to 12.
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 Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
@under a new name, I don’t ski af half term 😜
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 Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
@Scarpa, Revolut uses the current exchange rate at the time of the transaction. If you look in the app, you can see the current rate changing constantly, so you can hit the exchange button at the exchange rate at that point.
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@NickyJ, I hadn’t seen that, apologies. I can see how classes would work, whether you need to pay up front I guess depends on local imposed rules, personally I wouldn’t but if you do I’d just do a IBAN transfer, that’s how I pay hotel deposits.
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 Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
geepee wrote:
@Scarpa, Revolut uses the current exchange rate at the time of the transaction. If you look in the app, you can see the current rate changing constantly, so you can hit the exchange button at the exchange rate at that point.


So you can't book it in but as long as you have the balance to cover the exchange then you can pick your live rate.

I've just had a look at their new policies for the free version:
£200 out the hole in the wall per month - 2% thereafter (so could be a problem for spending money but 2% at interbank is pretty damn good.
£5000 per month interbank and then just 0.5% after (that is pretty good based on interbank too)
Card transactions - no fees.
Bank trasfers - no fees.

Scarpa wrote:
So Transferwise will cost £18.24 to transfer 5K, Revolut will cost £25.00. Both use interbank rates but I know that Tw is instant and I use this site https://www.xe.com/currencycharts/?from=GBP&to=EUR to monitor the fluctuations.


Not quite right. It would be free. Then 0.5% for anything over £5000 in that calendar or spending (not sure) month. So £10000 would cost £25 with free transfers out.

olderscot this is from their site:
Is my money safe?
Client funds are stored under a segregated account at Lloyd’s or Barclays, depending on the type of account you hold. As an FCA authorised institution, Revolut safeguards your funds as per FCA requirements, the Electronic Money Regulations 2011, and the Payment Services Regulations 2017. In the event of an insolvency of Revolut, you will be able to claim your funds from this segregated account and your claim will be paid above all other creditors.

All your card transactions are processed by the Mastercard or Visa network and are protected by Mastercard or Visa rules.

https://www.revolut.com/at/help/more/security/is-my-money-safe
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You'll need to Register first of course.
I have now set the up ready to make payment, but one thing that came as a surprise is that the card costs you £4.99. Everything said card was free.... then you get that as the minimum delivery charge. Hmmm. Feel the information on there slight was slightly dishonest.

Will look in slower time whether it will be worth getting the card or not vs what we pay to get currency in UK before we go.

As a complete aside I am amazed at the cultural difference when it comes to credit card payments between Austria and Sweden (where we went last half term)

When found the vast majority of places would not accept cash at all in Sweden and most payments had to be contactless vs the above saying Austria is gradually changing to accept credit card.
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 Then you can post your own questions or snow reports...
Then you can post your own questions or snow reports...
Markymark29 wrote:
@NickyJ, I hadn’t seen that, apologies. I can see how classes would work, whether you need to pay up front I guess depends on local imposed rules, personally I wouldn’t but if you do I’d just do a IBAN transfer, that’s how I pay hotel deposits.


My issue isn’t with paying up front quite happy about that. It is just the payment method I am nervous over as the buyer has no protection what’s so ever.
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 After all it is free Go on u know u want to!
After all it is free Go on u know u want to!
@NickyJ, My offer to pay in euros is still open - I got 1.111 on my last transfer so unless your rate is better than that (after fees) then let me now
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 You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
@flangesax, Cheers, I'd been reading it as a 5K getting hit with the rate LOL
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 Ski the Net with snowHeads
Ski the Net with snowHeads
@holidayloverxx, thanks very much but have setup that revolut thing now.
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 snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
Thanks for all assurances that the ski school isn’t going to go buts Happy

I have setup the Revolut account and I am about to transfer money.

I presume I need to get my uk balance upto the right amount to turn into the correct amount of euros when I make the IBAN payment? Then make the IBAN payment? Or do I need to move the money into a Euro balance first then make the payment?

I presume I am in danger of not putting enough in or putting too much in based on fluctuations in the exchange rate? If I over pay I presume I can just pay any balance onto my current account?

Sorry if I am being a bit dim here. But it isn’t feeling obvious to me Sad
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 And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
You need to have sufficient balance in any currency, so for example:


You have a balance of GBP 10 and EUR 10 and need to pay EUR 10 it will take it out of your EUR balance

You have a balance of GBP 10 and EUR 0 and need to pay EUR 10 it will take out the equivalent EUR from your GBP balance

You have a balance of GBP 5 and EUR 5 and need to pay EUR 10 it will take out the EUR first and take the remainder EUR equivalent from your GBP balance

You have a balance of GBP 0 and EUR 0 and need to pay EUR 10, it will not let you make the payment (i.e. you have to top up first, rather than during)

Hopefully that helps, its pretty slick in reality, the only gripe I have with Revolut is that sometimes it forces you to convert when withdrawing (despite Revolut claiming you always get to choose which currency balance to use)...so you get stupid situations where effectively you have EUR, but get charged the equivalent of EUR -> GBP -> EUR just to get your EUR cash (only an issue with ATM's I should stress, not an issue with bank transfers).
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 So if you're just off somewhere snowy come back and post a snow report of your own and we'll all love you very much
So if you're just off somewhere snowy come back and post a snow report of your own and we'll all love you very much
I would put sufficient funds in to cover the amount of Euros you need, then transfer £ into Euros on the card followed by a bank account transfer to the ski school. Any excess can be converted back to £ and spent as you would with any other credit/debit card (or put back into your normal account).

I just leave excess Euros on my card and take it with me on Holiday..
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 You know it makes sense.
You know it makes sense.
@albob, thanks. Won’t be doing that as don’t want to pay £4.99 to get the card.

@vjmehra, thanks for that.
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 Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
@NickyJ, Aaaaahhh Wink
ski holidays     
 Poster: A snowHead
Poster: A snowHead
NickyJ wrote:
I have now set the up ready to make payment, but one thing that came as a surprise is that the card costs you £4.99. Everything said card was free.... then you get that as the minimum delivery charge. Hmmm. Feel the information on there slight was slightly dishonest.

Will look in slower time whether it will be worth getting the card or not vs what we pay to get currency in UK before we go.

As a complete aside I am amazed at the cultural difference when it comes to credit card payments between Austria and Sweden (where we went last half term)

When found the vast majority of places would not accept cash at all in Sweden and most payments had to be contactless vs the above saying Austria is gradually changing to accept credit card.

For getting currency and credit card spending overseas your best option is almost certainly a Halifax Clarity card. When lifting currency, keep an eye out in the app for when the transaction clears then pay that portion immediately to almost completely avoid any interest charges.
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 Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
@sugarmoma666, yes I have the Halifax card.... just not allowed to use it to pay for the lessons Happy
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 Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
Pleased you sorted revolut out - used it monthly to Spain for the last 3 years now and never had a problem - you don't actually need a card for bank transfers though. I check the ex rate, load up the appropriate GBP on their auto top up then just click the send relevant € amount to the Es account. Takes 2/3 days on their normal (free) transfer.
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 You need to Login to know who's really who.
You need to Login to know who's really who.
Successfully paid. Thanks for all guidance.

Was trying to work out if I could make the phone a contactless payments device (a colleague uses this) to turn the virtual card into a physical card and avoid paying £4.99 delivery (seriously even recorded delivery first class doesn’t cost anywhere near that much for a letter with a payment card on it!). Not too worried just like a challenge as I have the Halifax Clarity card for foreign currency transactions.
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 Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
@NickyJ, Wrote "....Was trying to work out if I could make the phone a contactless payments device …."


did you manage to figure it out (was thinking of the same thing only yesterday..)

=====================

Edit -- to answer my own question :: seems they are working it. Google pay works, Apply pay to come


https://www.revolut.com/help/exploring-revolut/spending/buying-with-google-pay/am-i-eligible-for-google-pay
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You'll need to Register first of course.
@albob, thanks. Will watch this space, I was finding old discussions which weren’t really helping matters (as half then were more talking about the technology coming than whether it will work with a Revolut card.

I am using an apple phone at the moment, and thanks for finding a sensible answer.
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