Free Friday – Freedom
It's a wonderful feeling of freedom to stand in a port somewhere far from home, order a cup of tea and pay without a single thought about what the bank will charge as a surcharge. Holidays, and other trips, should be felt in the body – not in the bank account.
Yet this is exactly where many of us lose money every summer, often without even realizing it. Exchange fees are rarely visible as a separate line on the receipt. They are hidden in the exchange rate.
The invisible fee
When you pay with a regular Swedish bank card abroad, most banks add a currency conversion fee, often around 1.5–2.5 % on each purchase. It sounds like a small amount, but think about it: a two-week holiday where the family spends 25,000 SEK can quietly cost an extra 400–600 SEK – for nothing. That's a dinner. Or a whole bike rental.
And then we have the classic trap at the card terminal:
”Do you want to pay in SEK or EUR?”
Select always the local currency. If you choose SEK, the terminal's (often really bad) exchange rate applies, with a markup that can end up being 5–7 %. This is called dynamic currency exchange and is designed to feel safe – ”oh, I see the price in kronor!” – but it is almost always the most expensive choice.
This is what I do instead
I've been using Revolut as a travel card for some time now, and it's become one of those little things that makes traveling easier and freer. The principle is simple: the money is exchanged at the interbank rate - that is, the "real" rate, without the bank's usual mark-up.
A few things that are good to know, simply:
- Weekdays are free up to a limit. With the free Standard plan, you can exchange up to SEK 10,000 per month without a fee on weekdays – above that, 1 % is added.
- Weekends cost a little extra. If you exchange on the weekend (when the forex market is closed), there will be a surcharge on the Standard plan. My simple trick: exchange what you need on Thursday or Friday, before the weekend.
- You see everything in the app. Every purchase appears immediately with a notification, in both local currency and kronor. It gives a strangely reassuring sense of control – especially when traveling.
- Multiple currencies in the same account. Perfect if you are moving between different countries and want to be able to exchange when the rate feels right instead of when you happen to be standing at an ATM.
For a regular vacation, the free plan is plenty. If you travel a lot, or want to avoid thinking about limits and weekend surcharges altogether, there are paid plans – but start with Standard and get the hang of it.
A little more freedom trick
Bring another regular bank card as a backup and keep it in a different place than your Revolut card. Freedom is also about never being dependent on a single solution when you are away from home.
Join me and over 75 million others who use Revolut – sign up with my invitation link: Get Revolut →
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Happy Friday – I wish you a wonderful summer and vacation, and may your vacation money be enough for everything you want. 💛