Revolut is changing its weekend FX fee schedule a move that’s good news for some customers, but not for others. In a move that could shake up weekend currency conversion services, leading fintech Revolut has unveiled a new fee structure, that significantly reduces FX costs for its premium customers.
The changes, which take effect from April 22, 2025, mark a departure from the firm’s existing flat-rate fee schedule.
Under the existing arrangements, customers pay a uniform +1.0% surcharge on all currency conversions performed during weekend hours, which run between 5 pm ET Friday and 6 pm ET Sunday.
Premium benefits
The revised structure introduces a tiered approach, eliminating weekend fees for the firm’s Premium, Metal, and Ultra account holders. Plus account members will benefit from a -50.0% reduction in their weekend foreign exchange costs, and will pay just +0.5% per transaction, going forward.
Whilst Standard account holders will continue to pay the current +1.0% surcharge.
The changes to the fee structure appear to be designed to improve customer loyalty and the high and medium end of the client base and within the added potential to attract new users in this demographic to Revolut’s premium services.
Customers need to take no action and the changes won’t come into effect until April 22nd. However, those who wish to opt out of the new fee structure have the option to close their accounts before the implementation date.
Which suggests a “ take it or leave it” attitude towards the lower echelon of the company’s client base.
The move comes amid increasing competition in the digital banking and payments sector, where weekend exchange rates have long been a point of contention for frequent international travellers and cross-border businesses.
Why do weekend FX conversions cost more?
Weekend FX conversions cost more because banks and the FX markets are closed on Saturday and Sunday. That means that Foreign Exchange providers that are active over the weekend, take on additional settlement and market risks as well as extra funding costs, when they transact on a customer’s behalf, without the ability to hedge or offset their exposure in the underlying market.
That might not seem like much of an issue on an individual trade basis but when you have 38.0 million customers who have £18.20 billion in deposit at the firm, those costs and risks can mount up.
That said Revolut’s net profit margins in 2024 of +19.0% implies that the firm has been well insulated from those risks and costs to date.
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