Introduction
Revolut is a UK-based fintech company offering financial services, offering a range of features, including multi-currency account allowing you to hold money in various currencies, savings, inverstment features and more, seeking modern and efficient financial solutions.
No monthly feePlans from £3.99/mFeatures
Analytics
Set and manage your budget and sub-budgets. Budgeting controls: once you set up a budget, Revolut will automatically track progress in real-time, making sure you do not exceed your spending targets. Divide your monthly budget over specific categories and let Revolut alert you when you’re close to reaching the budget limit.
Cards
Order a Revolut card to fully benefit from all of its features (delivery fees may apply). Depending on your account, you can order different cards with which you can pay online or in-store.
Location-based security
Automatically block payments made from any other location than yours.
Vaults
An easy and fast way to work towards your financial goals. Set up in seconds, name it, attach a saving goals and turn on the spare change feature for starters. Round up payments to the closest whole amount and store the difference. Set up a recurring payment straight into your Vault.
Multi-currency account
Hold and send money in 35+ currencies with real-time foreign exchange to 150+ currencies.
Accounts
You create a default account when you register, based on the currency used in your location. You can create up to 24 different accounts for different currencies with the default account included.
Payments
Pay, share bills with your contacts, transfer money.
-Split bills with any of your contacts.
-Transfer money globally with low fees.
-Schedule recurring payments.
-Payment links for sending or requesting payments.
Freeze/Unfreeze your card
In case of a lost card, freeze it in the app. Unfreeze it again when you find it, or report it as lost and get a new one.
Security settings
Easily adjust what your card can do from the app, i.e. contactless and swipe payments, ATM withdrawals, online transactions, etc.
Withdraw money
€/£200 (amount depends on a plan) in international ATM withdrawals with no withdrawal fee from Revolut.
Revolut PRO
Revolut Pro is tailored for freelancers, contractors, side-hustlers, sole traders, and more. It offers a suite of simple and convenient tools designed to streamline financial management and empower individuals in various self-employed professions. These tools are available to you for free within your Revolut app!
- Earn up to 1.2% cashback depending on the plan.
- Accept quick payments via QR codes, payment links and card reader
- Send customizable invoices
Revolut Account Types
As a Revolut user, you can choose from three different personal account types and another four business account types to choose from.
Personal account types
Security
Revolut’s policies and procedures are designed to protect users’ confidentiality as well as the security of their information, including their non-public personal information. Personal information is stored using third-party servers located in secure data centers protected by firewalls and a ‘restricted access’ policy, in compliance with applicable regulations. All data passed between Revolut’s mobile apps, its servers, and third parties are 2048-bit SSL encrypted.
On top of that, Revolut employs several security settings that can be applied to each of your Revolut cards. Change these at will in the app’s ‘Cards’ section.
- Location-based security: when activated in the app, your phone’s GPS location is used to determine if your card has been compromised and to prevent fraudulent transactions. In suspicious circumstances transactions will be blocked.
- Magstripe Payments: magstripe card payments are generally considered unsafe. Disable this type of payment to help prevent your card from being cloned or used fraudulently. Chip and PIN methods, when available, are strongly preferred.
- Contactless Payments: disable contactless payments in case you’re not paying via contactless methods.
- ATM Withdrawals: disable ATM withdrawals to prevent transactions being carried out at an ATM terminal.
- E-commerce transactions: disable e-commerce transactions to prevent any payments being completed online.
Using the Revolut app abroad
Revolut aims to make traveling abroad as pleasant as possible for its users. For users traveling abroad, Revolut offers:
- Spend in 150+ currencies.
- £200 a month in international ATM withdrawals with no withdrawal fee charged by Revolut, with the Standard plan which has no monthly account fee.
Revolut Support
The Revolut Support Center consists of two main parts: Community and the Help Center. The Help Center is a searchable knowledge base that covers all aspects of Revolut’s service, with an obvious special focus on the app, categorized into different sections, each covering a specific aspect of the service.
The community is a Q&A forum that has a number of conveniently chosen subcategories that make it easy to navigate, with additional options to check the latest posts, or the most popular ones. Getting information from other users can be of great help to someone just getting started. In any case, these two support pillars offer a lot of tips, tricks and general knowledge about Revolut’s service and the app.
Pros & Cons
Pros
- Spend in 150+ currencies
- Multi-currency account
- User-friendly and intuitive app
- Professional customer service
Cons
- On weekends, currency exchange fees are higher
- Foreign exchanges over €/£1,000 are charged with a 0.5% fee
Conclusion
Revolut offers a very solid app with a wide variety of great features. It is easy to use and works in a very intuitive way. You can hold different currencies and spend like a local abroad. Revolut values security and, besides encrypting data streams with state-of-the-art encryption, offers a very useful set of security features users can benefit from to keep their Revolut account safe and secure. Revolut is a great alternative to traditional financial solutions, with relatively low fees for basic accounts and even lower fees for premium accounts.
Customers Feedback
I've been using Revolt for 2 years now. I got freedom with this card and flexibility, as I can charge with £ and change in Euro or other money. Recently I needed help from a customer services team and the consultant explained and helped me to understand things. Very happy to have Revolut!
I'm very happy about Revolut App. Very easy to use and quick money transfer. Im always using them when abroad but not only. Various of usefull funcions allows me to use Revolut not only for transfering money but also for investing, saving and even be my wallet.
The only problem I am having with Revolut is that sometimes the payments with the visa card are not going through. It needs some tries to be executed.
I really enjoy Revolut! It has so many cool features, like creating multiple virtual cards to use for paying specific things (i.e. subscriptions like Netflix, etc, or one for bills, another for shopping, etc). The Revolut debit card is also really cool and the fancier ones are even cooler being actual metal cards in different colors.
I've been using Revolut for 6 months as main account, it's incredible the amount of features I have. I'm exchanging currencies very easily from my home country. I can use the Revolut contactless everywhere, and withdraw in almost every cash machine I found without extra fees. I recommend choosing the Premium account, it's definitely worth it. I'm not into Investment yet, but it's also possible to do it.
I was pleasantly surprised, to the extent that I decided to only keep a current bank account in the UK and close currency accounts in other countries and then use Revolut to take care of foreign payments. The exchange rate is more favourable than currency exchange organisations. No annual foreign bank charges. Debit card is conveniently multi-currency.
I received my forest Revolut card a few weeks ago. It's everything I hoped it would be. Super easy to use. The app is great. Customer support is responsive. I travel loads and card saves me so much in bank fees. I’ve just ordered the metal card – why not? Thanks for all at Revolut.
An absolutely game changer, great in any aspect, don’t know why I waited so ling before I finaaly got it. (Ido know, got tired of Wise). Heads up to Revolut.
The most easier banking app I ever saw.