How is my wallet balance calculated?
Balance limit
If you're holding multiple currencies (other than SGD), Revolut will convert non-SGD currencies throughout the day to determine your total balance in SGD. With an external account, you'll be able to hold more than SGD 20,000 (or the foreign currency equivalent) in your wallet balance during the day.
If you have SGD 19,000 and £1,000, when the exchange rate is £1 = SGD 1.70, your GBP is worth SGD 1,700. Therefore, your total balance would exceed the limit of SGD 20,000. Any balance over SGD 19,800 (or the foreign currency equivalent) will be transferred to your external account.
If you opt for a lower stock cap, you won't be able to hold more than your stock cap at any point in time.
Balance conversion
If you hold balances in foreign currencies, we may have to convert them back to SGD before transferring them to your external account. If you want to prevent your balances from being automatically converted and transferred out, please keep your end-of-day balance under SGD 19,800.
You can do this by transferring money to your external account regularly, or by monitoring the top-ups and transfers into your account.
If you haven't set up an external account, you can't hold more than SGD 19,800 (or the foreign currency equivalent) in your account throughout the day.