Can you please elaborate on how this Revolut works?
From a quick look at their website, it looks like they're promoting bank accounts(?). I'm trying to understand how you use this company to transfer money to/from US & international bank accounts.
I'm trying to figure out a method how folks in Australia (and other countries) who get their salary deposited and paid in local currency to their local bank accounts, can maintain US credit cards.
I.e. need a way they can quickly transfer back and forth between their Australian bank account and American one, without fees that make the whole affair not worth it.
TIA!
So I actually just tried sending (transferring) money from my US Revolut account to my Israeli bank account. Did the USD-ILS conversion on Revolut and set up myself as a counterparty using my Israeli Bank Hadoar account (which supposedly should have no fees).
Here are the screenshots from Revolut and Bank Hadoar
RTGS stands for Real Time Gross Settlement which is what they call a transfer using an IBAN number (העברת זה"ב). I was hoping to see the same amount since I was sending ILS and thought there was no intermediary bank to take fees (they list one intermediary bank for USD and another for EUR and GBP), alas it seems like there is an intermediary taking a cut of about $5.60.