Revolut Review

Revolut is a digital banking alternative that aims to make spending in foreign currency as easy and cheap as possible. It was founded in 2013 by Nikolay Storonsky and Vlad Yatsenko. At present you can use Revolut with 25 currencies and it is available on both iOS and Android.



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THE REVOLUT CARD

BACKGROUND INFORMATION

FOUNDED: 2013

FCA: 764292

CURRENCIES: EUR, GBP, USD, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NZD, NOK, PLN, RON, SGD, ZAR, SEK, CHF, THB, TRY, AED.

ATM LIMIT: NONE

ATM FEE: £200 Free of charge. 2% above £200

VIP OPTION: YES, £6.99 per month

APP: iOS & Android

CUSTOMER SUPPORT: Live chat

IBAN: YES

MONTHLY FEE: NO

TRANSFERS: FREE

LOADING OPTIONS: Mstercard, Visa and Maestro

CARD DELIVERY CHARGE: £4.99 (FREE FOR VIP MEMBERS)

Quick reference

What is Revolut?

Revolut employs over 350 people at the time of writing. They are aggressively expanding and have offices in locations such as London, Krakow, Moscow, St Petersburg, Berlin, Paris and Barcelona. The ultimate goal of the company is to expand into continents other than Europe. The company is fully verified and regulated by the Financial Conduct Authority. With almost 2 million customers carrying out over 70m transactions, Revolut is proving extremely popular with travelers and holiday makers all over the world.

How does Revolut work?

There are two key components to Revolut. The mobile app and the debit card. The mobile app (which is available on iOS and Android), allows you to top up your balance from your credit or debit card, move money between different currencies, send and receive funds in one of the 25 supported currencies and full management of your card for example adding limits or security features like changing your PIN.

What are the fees associated with Revolut?

If you sign up for a premium revolut account, then the monthly fees are shown below.

MONTHLY FEEANNUAL FEE
  • £6.99
  • €7.99
  • 8.99 USD
  • 8.99 CHF
  • 29.99 PLN
  • 59.99 DKK
  • 76.99 NOK
  • 76.99 SEK
  • 29.99 RON
  • 174.99 CZK
  • £72.00
  • €82.00
  • 92.00 USD
  • 92 CHF
  • 300 PLN
  • 620.00 DKK
  • 790.00 NOK
  • 790.00 SEK
  • 300.00 RON
  • 1750.00 CZK

The monthly fee will be charged in the currency that you selected when you signed up. This is usually the currency of the country where you reside.

Account charges and delivery costs

ComponentBasic UserPremium User
Smartphone AppNo ChargeNo Charge
Account ManagementNo ChargeNo Charge
User SecurityNo ChargeNo Charge
Virtual Revolut

Card Charge

No ChargeNo Charge
Physical Revolut Card

Charge

No ChargeNo Charge
Physical Revolut Card

Delivery Charge

There is a £4.99 charge that covers the cost of delivery within UK.

If you want faster delivery, this will cost £11.99.

If your home currency is not GBP, then these costs are charged at your currency equivalent.

.

No Charge

 

Are there any additional Revolut card charges?

Item or ServiceBasic UserPremium User
Additional Premium Revolut CardN/ANo Charge
Additional Virtual Revolut Card

Issuance Charge

£4.99No Charge
Additional Physical Revolut Card

Issuance Charge

£4.99No Charge
Physical Revolut Card

Delivery Charge

£4.99No Charge

Top-Up Charges

Basic UserPremium User
Bank TransferNo ChargeNo Charge
Top-Up via Stored CardFree (Debit Card)

Free (Credit Card)

Free (Debit Card)

Free (Credit Card)

 

Please bear in mind that if you top up using a card that has not been issued inside EEA (for example a USA based card) or you top up with a commercial card, Revolut may charge a fee.

Revolut Transaction Charges

ServiceStandard UserPremium User
Instant TransfersFreeFree
Turbo Transfers£5 / €6 / 6USD / 25PLN / 6CHF / 45DKK / 55SEK / 55NOK / 25RON / 140CZK or currency equivalentFree
Revolut Bank TransfersAs advised prior to entering into Bank Transfer.As advised prior to entering into Bank Transfer.
ATM Withdrawal FeeATM Withdrawals up to £200 / €200 / 200USD / 200CHF / 800PLN / 1,500DKK / 2,000SEK / 2,000NOK / 800RON / 4,500CZK or currency equivalent per month are free. Anything over the above limits is charged at 2% of value of ATM Withdrawal.ATM Withdrawals up to £400 / €400 / 400USD / 400CHF / 1600PLN / 3,000DKK / 4,000SEK / 4,000NOK / 1,600RON / 9,000CZK or currency equivalent per month are free. Anything over the above limits is charged at 2% of value of ATM Withdrawal.

Exchange Rates

Currencies During FX market hours Outside of FX market hours USD, GBP, EUR, AUD, CAD, NZD, CHF, JPY, SEK, HKD, NOK, SGD, DKK, PLN and CZK only. The interbank rate. 0.5% above the interbank rate on all exchanges. All other currencies except THB, RUB and UAH. The interbank rate. 1.0% above the interbank rate on all exchanges. THB, RUB and UAH. 1.0% above the current interbank rate on all exchanges. 2.0% above the interbank rate on all exchange.

Standard UserPremium User
Exchange rate for Electronic Money Exchanges and Monetary Exchanges when the value of the Electronic Money Exchanges and Monetary Exchanges in the given month has not yet reached or is equal to: £5,000 / €6,000 / 6,000CHF / 20,000PLN / 40,000DKK / 50,000NOK / 50,000SEK / 20,000RON / 120,000CZK or the equivalent thereof in other currenciesThe Standard Exchange Rate

as set out in the table below.

The Standard Exchange Rate

as set out in the table below.

Exchange rate for Electronic Money Exchanges and Monetary Exchanges when the value of Electronic Money Exchanges and Monetary Exchanges in a given month has exceeded: £5,000 / €6,000 / 6,000CHF / 20,000PLN / 40,000DKK / 50,000NOK / 50,000SEK / 20,000RON / 120,000CZK or the equivalent thereof in other currenciesThe Non-Standard Exchange rate, being the Standard Exchange Rate, as set out in the table below plus 0.5%.The Standard Exchange Rate as set out in the table below.

The billing cycle for all Charges are as follows for users who:

  • Calendar month: joined before 16 March 2017;
  • Rolling month: joined after 16 March 2017; and
  • Rolling month: for any user who upgraded their Revolut Account from Standard to Premium or has downgraded from Premium to Standard.

The Standard Exchange Rates

Supported CurrenciesDuring FX market hoursOutside of FX market hours
USD, GBP, EUR, AUD, CAD, NZD, CHF, JPY, SEK, HKD, NOK, SGD, DKK, PLN and CZK only.The interbank rate. The interbank rate is provided by financial exchanges and may be subject to a delay..0.5% above the interbank rate on any exchange.
All other currencies except THB, RUB and UAH.The interbank rate. The interbank rate is provided by financial exchanges and may be subject to a delay.1.0% above the interbank rate on any exchange.
THB, RUB and UAH.1.0% above the current interbank rate on all exchanges.2.0% above the interbank rate on any exchange.

Revolut Card Fees and ATM Withdrawal Fees

Revolut Physical Card

Issuance Charge

No Charge
Revolut Physical Card

Standard Delivery Charge

£6
Revolut Physical Card

Global Express Delivery Charge

£12*
Revolut Virtual Card

Issuance Charge

No Charge
ATM Withdrawal Fee2% of value of ATM Withdrawal
Bank TransfersDepends upon the nature of the transaction. See FAQs for more information.

*For some countries we charge £18 or £30 for express delivery. This will be presented to you before purchase.

Limits

Max daily ATM withdrawal€5,000(or currency equivalent)
Max monthly spend£/€100,000 (or currency equivalent)*
Maximum number of physical cards created per monthNo limit applied
Maximum number of virtual cards created per month20

*Please note limits are subject to the country a business is registered in.

Revolut FAQs

Does Revolut have an app?

At present Revolut has an app for Android and iOS platforms. It can be downloaded here and is required to get the full benefit of the service. With the app you have full control over your account including important security features like changing your PIN, identifying last use and even limiting use of card to geographical locations.

Topping up, converting and transferring money is all done via the apps smooth and easy to understand interface.

Note: As it stands, you can’t use Revolut with Apple Pay.

Is Revolut safe and secure?

In short yes. Obviously where money is concerned safety and security are paramount and Revolut is dedicated to providing a secure platform for all. It does occasionally suffer from minor issues but these are generally caused by 3rd party card issuer problems rather than the platform itself. Whenever there is an issue with the service, their Twitter account or Blog is usually the best way to keep updated.

Where can Revolut be used?

Revolut can be used worldwide in ATMs or to pay for goods via chip and pin. At present it has support for 26 currencies. To get the full benefit from Revolut, always make sure that you have a balance in the local currency and decline conversion to local currency on ATMs or card readers if prompted.

Here are the currencies that are supported by Revolut:

  • Australian Dollars
  • British Pounds
  • Canadian Dollars
  • Czech Koruna
  • Danish Krone
  • Euros
  • Hong Kong Dollar
  • Hungarian Forint
  • Israeli Shekel
  • Japanese Yen
  • Mexican Pesos
  • New Zealand Dollars
  • Norwegian Krone
  • Polish Zloty
  • Romanian Leu
  • Singapore Dollars
  • South African Rand
  • Swedish Krona
  • Swiss Franc
  • Thai Baht
  • Turkish Lira
  • UAE Dirham
  • United States Dollars
Summary
Review Date
Reviewed Item
Revolut Debit Card
Author Rating
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