According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- Globally
Currencies:
- 30 currencies
- 6.45%
- Yes
Our Evaluation of Revolut
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Brief Look at Revolut
The Revolut Bank was launched in 2015 in Great Britain. Today it is among the largest digital banks in Europe with 14.5 million customers worldwide. It provides personal and business accounts with over 30 currencies. There is an integrated converter and built-in investment solutions. Instant transfers between accounts at different banks are available. There are virtual and plastic cards with ATM cash withdrawals and online/offline payments (using MasterCard standard). The free plan is offered at the start; paid plans provide advanced features like interest payments for dollar deposits.
- The Revolut app is installed for free on any mobile device and has an intuitive and functional interface.
- There is a free plan for personal and business accounts, providing all the basic features; you can also connect one child account.
- A wide range of investment solutions such as the client can invest in shares of 800 companies and precious metals in any amount, from $1.
- 100% transparency with no additional commissions or hidden fees; all fees are specified in the tariff schedule.
- Dozens of tools to automate your financial management, from saving "change" to setting up regular transfers.
- Open banking – the client can link to accounts at any other banks and financial systems using his Revolut card.
- The built-in Stay service allows you to book hotels all over the world with a cashback of 10% of the cost, and there are also insurance services.
- The free rate has significant limits, for example, cash withdrawals without a commission are only up to €200 per month or up to five withdrawals;
- The integrated cryptocurrency service is not regulated by the FCA, the bank itself doesn’t guarantee to work with cryptocurrencies and doesn’t insure them.
- The most popular insurance solutions (e.g., against accidents) are available only on paid plans like Premium and Metal.
TU Expert Advice
Author, Financial Expert at Traders Union
Revolut offers a wide array of digital banking services encompassing personal and business account types with support for over 30 currencies. Its platform enables clients to invest in stocks, precious metals, and cryptocurrencies, offering integrated converters and instant cross-bank transfers. The Revolut app is intuitive, providing free plans, customizable analytics, and budgeting tools, as well as access to virtual cards and ATM withdrawals. The service emphasizes transparency with clear fee structures, while also providing diverse investment options, including fee-free trading on select plans.
However, drawbacks include limited free ATM withdrawals and non-regulated cryptocurrency services, which may concern some users. Additionally, certain insurance and investment features are only accessible on paid plans. Consequently, Revolut is best suited for those seeking a comprehensive digital banking experience with moderate transactional needs, while those needing extensive free services or fully regulated crypto trading may explore alternative options.
Revolut Summary
Your capital is at risk.
| 💼 Main types of accounts: | Personal and business |
|---|---|
| 💱 Multi-currency account: | Yes (over 30 currencies) |
| 💵 Deposit terms and conditions: | Annual rate of up to 0.7% in pounds sterling, up to 0.65% in U.S. dollars |
| 💳 Loan terms and conditions: | No |
| ☂ Deposit insurance: | Yes |
| 👛️ Savings options: | Free international transfers, savings accounts, smart statistics, cashback, and bonuses |
| 📋 Types of payment: | Bank account, MC plastic card, Apple Pay |
| ➕ Additional features: | Revolut Junior, cryptocurrency exchange, vaults, insurance (including pet insurance) |
The account options, limits, investment solutions, and additional services all depend on the tariff chosen by each client. Paid plans provide more functions and have higher limits. Find the main parameters of Revolut in the table below.
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Revolut Commissions & Fees
The standard account is free, with subscription fees of £2.99, £6.99, and £12.99 per month for Plus, Premium, and Metal tariffs, respectively.
Each tariff has limits for free withdrawals from ATMs and free international transfers. There is a commission to be charged in cases above the limits, which is calculated individually when you make a transfer (depending on the currency, amount, and country).
If the client works with cryptocurrency, the exchange fee is 2.5% for Standard; for Plus, Premium, and Metal, it’s 1.5%. Similarly, for the trading exchange, it is 1.5% for Standard; and 0.5% for Plus, Premium, and Metal. There is no fee for cryptocurrency withdrawal (only a network fee).
Currency exchange can be done 24 hours a day from Monday to Friday. For Standard and Plus, there is a monthly limit of £1,000 or the equivalent in other currencies. There are no limits for Premium and Metal currency transactions, and individual discounts and bonuses are available at these rates.
We also compared Revolut fees with similar types of fees on other Digital banks.
| Broker | Overdraft fee | ATM Withdrawal Fee | International transfer fee | International exchange fee |
| Monzo Bank | 19-39% | Free in the UK In other countries: - up to £200 - free - beyond £200 - 3% | €0.5 | 0.35%-2% |
| Revolut | No | Up to $350 - free - beyond $350 - 2% | 0.3% (min. $0.30, max. $6) | From 0% to 1% |
| Chime Bank | No | No | No | 3% (max.$5) |
Revolut Bank is a modern mobile bank with advanced investment features and a wide range of possibilities for easy interactions with banks in almost all developed countries. Depending on the tariff, different limits and options are available to the client. The bank has its card and even has its own exchange for buying and selling stocks, precious metals, and cryptocurrencies. However, it is worth bearing in mind that the cryptocurrency exchange service is not regulated, while the work of the bank itself is licensed by the FCA regulator. The bank ensures investors' deposits and offers an acceptable interest rate. The Revolut app is competitive with the leaders of the segment in terms of convenience and functionality
Account types
Personal and business accounts differ in terms of features. For example, the payroll service and corporate account management are not available for a personal account. However, for both types of accounts, all payment and deposit options, various insurance programs, and security mechanisms are available. The main differences between the accounts are determined by the fee schedule:
On the Standard tariff, deposits are available only in pounds sterling, deposits in dollars can be made on all other tariffs. The more expensive the tariff, the lower the commission for cryptocurrency exchange and trading exchange. And the cashback increases with the cost of the tariff.
Investment Options
Promotions. This digital bank offers its own investment platform with access to shares of over 800 global companies. The maximum amount of charges is $10,000. On the Metal tariff, the purchase and sale of shares are commission-free.
Metals. Revolut customers can purchase gold and silver bullion by paying directly from their account at the touch of a screen. The situation with sales is similar.
Cryptocurrencies. Bank customers can purchase cryptocurrencies and store them in their accounts. Cryptocurrencies are available for conversion in crypto-crypto and crypto-fiat pairs. Note that the service is not regulated by the FCA.
Vaults. Vaults at Revolut Bank are special pots where you can save money within the framework of customizable algorithms. The money is stored at an annual interest rate.
Note that the digital bank offers two types of vaults. Vaults do not involve interest payments. To earn interest, open a savings account.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Contacts
| Foundation date | 2015 |
|---|---|
| Official site | https://www.revolut.com/ |
Comparison of Revolut with other Brokers
| Revolut | Wise | Bunq | Curve Bank | Emirates NBD | SoLo Funds | |
| Supported Countries | Globally | Globally | Netherlands, Germany, Austria, Italy, Spain, France, Belgium, Ireland, Bulgaria, Croatia, Slovenia, Republic of Cyprus, Finland, Greece, Hungary, Latvia, Lithuania, Luxembourg, Malta, Norway, Poland, | UK and EEA | AED | US dollar |
| Supported Currencies | 30 currencies | 54 currencies | Euro (16 European currencies in the Easy Money plan) | 26 currencies | UAE | USA |
| Deposit insurance | Yes | No | EUR 100,000 | No | 100,000 AED | According to FDIC |
| Minimum deposit | No | No | No | No | 500 AED | $10,000 |
| Deposit rate | 6.45% | No | 0.09% APY | No | 2% | $0-$5 |
| Loan Rate | 0.65%-0.7% | No | The bank does not issue loans | No | Individually | 2 × (0.9% of the principal loan amount + $0.7) |
Detailed review of Revolut Bank
Revolut operates in most countries without restrictions. You don’t need to be a resident of a particular country to cooperate with this bank. There is no need to deposit funds in a particular currency, the account supports over 30 currencies. However, consider that the base currency is the pound sterling. This means that all transactions are valued equivalently in the pound at the current exchange rate (for example, this is how commissions are calculated).
Revolut Mobile Bank by the numbers:
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over 14.5 million clients worldwide;
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over 30 currencies can be stored, exchanged, and sold;
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shares of over 800 companies are available for investment;
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up to 0.7% per annum on deposits in pounds;
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up to 1.5% commission on cryptocurrency exchange;
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£0 for the subscription fee for the Standard tariff.
In the application settings, you can set a wide range of limits and priorities for current expenses. Virtual and plastic cards are linked to the account (there is a Metal version). In stores, payments can be made from devices that support Apple Pay. Conveniently, the conversion of currencies between each other at the market rate is instantly available, similar to Forex. Trading is also possible with cr
Useful features of Revolut:
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Early Salary. Revolut is free of charge for all the channels through which the client receives his wages. The bank doesn’t charge a fee for this, and the client can withdraw funds a little earlier than the deadline set by the employer because they are reserved by the bank. There is also the On-Demand Pay or Pay on Demand function.
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Budgeting and Analytics. Integrated budgeting and analytics tools allow you to manage your accounts. You can set category limits, set goals, create pots for different tasks, optimize costs, automate regular payments, and connect notifications.
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Junior. This is a special account for a child that is controlled by an adult. The child's account is completely identical to the standard account, but some features are disabled, plus the parent can set any restrictions and limits through their own account. Junior accounts are free, and the number of accounts is determined by the plan.
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Pockets. A curious feature that allows you to set up adaptive payments. For example, it is possible to set up a pot from which utilities will be paid. If you bind the data of the service provider to the pot, the payment will be made automatically as soon as the provider generates a receipt. Loans can be automated in the same way.
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Open Banking. You can link any account and payment account with Revolut, including cryptocurrency wallets and plastic cards (MC standard only). Instant transfer of funds between linked accounts is available with no fees, end-to-end analytics, and visual comparison charts (e.g., for choosing the account with the best credit history).
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Stays. A unique integrated service that allows you to choose hotels, guest houses, and hostels around the world. Rooms can be booked directly from the app, paying for them immediately. Cashback on this feature is up to 10% depending on the rate. Deferred payment service is available (even if the hotel works on prepayment with other services).
Revolut Bank has one more unique service called Gifting. The function allows you to send cash gifts and gift cards to store-partners of the mobile bank.
Advantages:
Even the free plan provides the customer with a multi-currency account, where over 30 fiat currencies plus hundreds of cryptocurrencies are available for storage.
Currencies and cryptocurrencies can be freely exchanged with each other with minimal commissions at the current market rate.
To the Revolut Bank account, it is possible to link accounts in other banks, as well as various payment systems, including electronic ones.
The bank provides standard limits on cash withdrawals and transfers without commissions, which become more profitable at paid rates.
It is also possible to link a child's account, which is fully controlled by the parent.
The Revolut app has built-in analytical tools, smart accounts, smart reports, and statistics functions.
The bank offers several investment options, including deposits, buying and selling cryptocurrencies and precious metals.
There is a unique service for booking hotels with cashback, and different types of insurance, including rental car insurance.
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