Revolut Review : Money transfer, account & card
Revolut offers customers in the US multi-currency accounts and payment cards you can use to manage your day to day finances, from spending and making cash withdrawals, to investing and budgeting, teaching kids about money management and more. Over 30 million people already use Revolut – and if you’re thinking of joining them, this guide is for you. We’ll walk through everything you need to know about Revolut, including features and fees, whether it’s safe to use, how fast it is, and how to get set up.
|Revolut is good for
Revolut: Key points
- Fast online money transfers to other Revolut accounts or direct to bank accounts around the world
- 3 tiers of multi-currency account with different features and fees
- Hold and exchange 25+ fiat currencies
- Spend in 150 countries with your linked Revolut card
- 55,000 networked ATMs for no-fee withdrawals
- Founded in 2015, and headquartered in London
- Revolut has 30 million+personal users
- You can hold and manage 25 fiat currencies and spend in 150 countries with a Revolut card
- Over 500,000 business customers use Revolut globally
|✅ Open an account easily online or in the Revolut app
✅ You get a linked debit card, for easier spending
✅Money transfers are normally fast, simple, and cheap
✅ Pick from a selection of account plans including the Standard plan which has no monthly fees
✅ Currency exchange uses the mid-market exchange rate to plan limits
|❌Out of hours and fair usage fees may apply to currency exchange, based on account plan and use
❌ Taking money out from an ATM will cost you extra when you use up your monthly limit
❌You can’t add money to your account with cash or a cheque
Overall: Revolut is a safe and trusted service which offers easy and flexible ways to manage your money, spend and send payments globally. You can pick the account plan which suits your personal preferences and how you expert to transact, and access a great suite of servies with nothing more than your phone.
Is Revolut available in the US?
Yes, Revolut is available in the US. If you’re a US resident you’ll be able to open a personal or business account, and if you have a Revolut account from elsewhere in the world, you’ll be able to access it and use your card if you happen to be in the US.
What is Revolut?
Revolut launched in 2015 in the UK and has grown to offer services in a broad selection of countries including the US. Revolut is a mobile-first provider which works through an app, and which makes it fast and easy for you to manage your money by providing a multi-currency account, debit card, and foreign currency exchange services.
You can use the fully featured Revolut app to view your account, manage your money and make transactions, which means no need to stand in line in a branch. Plus, the Revolut card lets you easily spend money in around 150 countries, and will automatically convert your account balance into the destination currency when you make a payment.
Revolut money transfers
Revolut offers local and international money transfers you can set up from your phone. Transfer fees are transparent, and can work out to be a fraction of the cost of other providers. Plus cross border payments with Revolut can be a lot faster too. When you send a transfer overseas with Revolut you’ll pay a fee which is based on your account plan and the value of the transfer itself. You may also get currency exchange which uses the mid-market exchange rate, depending on the plan you hold, and how frequently you transact. If you’ve exhausted your no-fee currency exchange for the month, you’ll pay a low fair usage fee.
Great for: Sending money overseas to individuals and businesses, in a broad selection of currencies, with just your phone.
Revolut account and card
Revolut offers 3 different tiers of account for personal customers in the US, which all come with a linked payment card. The features and transaction limits do vary depending on the plan you select – but all Revolut accounts can hold and exchange 25+ currencies, and be used for card payments and withdrawals in around 150 countries.
Revolut supported holding currencies can include AED, AUD, BGN, CAD, CHF, CLP, COP, CZK, DKK, EGP, EUR, GBP, HKD, HUF, ILS, INR, ISK, JPY, KRW, KZT, MAD, MXN, NOK, NZD, PHP, PLN, QAR, RON, RSD, SAR, SEK, SGD, THB, TRY, USD, ZAR.
Great for: Holding and exchange 25 currencies, making payments and withdrawals at home and abroad, and viewing transactions conveniently in the Revolut app.
Learn more: Revolut card review
All US personal Revolut accounts come with the option of one or more virtual cards. If you have a Standard plan you can get the first virtual card linked to your account for no fee, or pay extra to have multiple virtual cards if you’d prefer. Virtual cards are handy as they exist only on your phone – there’s no physical card to carry, or to worry about losing, and as they don’t have the same card numbers as your physical Revolut card, they’re great for security too. Virtual cards can be handy if you’re shopping online with a merchant you don’t know, as you can make the transaction and then freeze your card, safe in the knowledge that your details can’t be compromised and don’t link back to your normal Revolut physical card.
Great for: Online and mobile spending, with increased security and the option to dispose of and replace cards as needed.
Revolut offers its services to US businesses as well as for personal customers. Account plans for business customers are different to Revolut personal account options, and include more business friendly perks and features. You can pick from one of 3 different account tiers, and depending on the account type you prefer you may be able to access some or all of the following:
- Physical and virtual debit cards for yourself and your team
- 25+ supported currencies, with local and international transfer options
- Controlled multi-user access
- Automated expenses and transfer approval features
- Integration with cloud based solutions like Xero and Quickbooks
- Bulk payments for easier invoice payments and salary management
- API access
Great for: Different tier accounts for businesses of different sizes, all with time saving features and easy ways to manage your company finances across currencies
Revolut stock trading
Revolut US offers options to trade 2000+ stocks and ETFs from as little as one dollar, with all you need to get started, build and manage a portfolio right there in your Revolut app. The fees you pay to trade stocks with Revolut can vary depending on the specific assets you choose, but there’s often no Revolut commission.
As with all investments, the value of your assets can go down as well as up, so do ensure you understand the market thoroughly if you plan to use this feature.
Great for: New and experiences investors, looking to trade through an app
Some Revolut US personal plans come with insurance features, which can include medical cover when you travel, cover for trip delays or cancellation, lost baggage and more. The plan features do depend on which accounttier you hold, so it is important to understand what is and is not covered – and assess whether the levels of coverage are adequate for your trip before you head off.
Great for: Revolut higher tier account holders looking for protections on spending and some insurance when they travel.
Revolut <18 kids account
All US Revolut personal account holders can get up to 5 linked <18 accounts for younger family members. Accounts are suitable for kids aged 6 to 17, and all come with a linked payment card and an app which lets the user view their account, while the adult holding the linked Revolut account can also view transactions for safety.
Great for: Organising family finances and teaching younger family members about managing money.
Is Revolut a real bank?
Revolut is not a bank. In the US, Revolut offers services in partnership with banks and card issuers like Mastercard and Visa.
Although not a bank, Revolut does offer lots of handy ways to manage your finances day to day. For example, all Revolut account holders get a multi-currency account and linked debit card, on either the Mastercard or Visa networks, which you can use to pay in the US or overseas, via Chip and PIN or contactless.
However, because it doesn’t hold a US banking license, you’ll find some services which you may get from a bank you can’t get from Revolut. For example, Revolut doesn’t offer authorized overdrafts, or credit services in the US. You’ll need to top up your Revolut account so you have money to spend.
Weigh up the options available from Revolut, as well as the fees, to decide if an account is right for you.
Learn more: Is Revolut safe to use?
Revolut personal card accounts
Looking at the services Revolut lists, it’s clear who their target audience is — people who are mobile-savvy, like technology and travel, and transfer money abroad. In other words, probably you.
Here is a list of what you get with the Standard, Premium and Metal accounts:
All accounts (Standard, Premium and Metal) receive:
- A digital multi-currency account you can use to hold 25+ currencies
- Physical and virtual payment cards
- Some no fee ATM withdrawals at in-network ATMs in the US
- Some currency exchange which uses the mid-market exchange rate
- Ways to send local and international transfers
- <18 accounts for kids – up to 5 linked accounts offered
- Built-in budgeting which makes it easier for you to manage your finances
- Apple Pay for faster payments on iPhones
- Revolut “Vaults” where you can put aside money, so you can save for that amazing holiday or house project
- Send and request payments with other Revolut users
- Round-up the amount you spend and put the difference into a Revolut Vault to help you save
The Premium plan also gives you:
- Higher no fee transaction allowances compared to Standard
- Discounted overseas transfers – 20% off normal price
- Overseas medical insurance
- Travel insurance and airline lounge passes if your baggage or flight is delayed
- Priority customer support
- Global express delivery
- Disposable virtual cards that you can use to make online purchases
- Premium cards with exclusive designs
The Metal plan also gives you:
- Higher no fee transaction allowances compared to Premium
- Discounted overseas transfers – 40% off normal price
- A metal, premium card
- Unlimited currency exchange which uses the mid-market exchange rate
Pros and cons of using Revolut
|✅ Good selection of account types for different customer needs
✅ Hold and exchange 25+ currencies
✅ All accounts offer payment cards
✅ All accounts have some no fee in-network ATM withdrawals and some currency exchange which uses the mid-market exchange rate
✅ Manage all your money from your phone
|❌ Fair usage fees apply when you exhaust plan limits
❌ Higher tier accounts have monthly fees
❌ No branch network for face to face support
Revolut offers several different options for customers, including 3 tiers of international account products for personal customers. You receive a set number of no-fee services per month for each account type – and the more you pay per month, the more perks you unlock. We’ll look into the costs for opening and maintaining a Revolut account in just a moment.
Revolut exchange rate
Revolut account holders can convert currencies up to a set limit using the mid-market exchange rate. Once you’ve hit your account plan limit for the month, fair usage fees may apply. There are also fees if you exchange currencies out of hours and at weekends. Here’s what you need to know:
|Mid-market exchange limit
|Fair usage fee
|Out of hours fee
Revolut account pricing
The fees for a subscription with Revolut depends on which level of service you buy:
How much does it cost to send money with Revolut?
Here’s how much you’ll pay if you want to send money overseas with Revolut, based on different transfer values. Bear in mind that the final costs you pay will depend on the account plan you select. You could find you get a discount depending on your plan and how you transact.
In this example we’ll imagine you’re sending money from the US to the UK, to be received into a GBP bank account:
|Amount being sent
*Fees and exchange rates correct at time of research – 3rd October 2023
Revolut card fees
|First Revolut card
|No fee – cancellation costs may apply if you subsequently cancel or downgrade your account
|No fee – cancellation costs may apply if you subsequently cancel or downgrade your account
|Complimentary standard delivery
|Complimentary express delivery
|Complimentary express delivery
|No fee for first replacement – up to 30 USD for additional replacements
|No fee for first replacement – up to 70 USD for additional replacements
|No fee for first card
4.99 USD for additional cards
To keep customers and their accounts safe, Revolut has certain limits which may vary depending on the account type you have and how you choose to transact. Let’s take a look.
Revolut transfer limits
From the US, there are usually no transfer limits. However, some limits may be set by Revolut payment partners, which vary based on the currencies involved. You’ll see any limits which apply in the app before you transfer.
Revolut account and card limits
It’s worth knowing that there are temporary limits used for topping up your Revolut account from a new card you’ve not used before. These limits vary and aren’t disclosed, but you’ll be made aware in the app if you ever hit one.
Revolut Standard account limits
With a Revolut Standard plan you’ll pay no monthly fee, and can then convert up to 1,000 USD to different currencies every month using the mid-market exchange rate with no additional charges. The other limit it’s useful to know about relates to ATM withdrawals. There’s no fee to make in-network withdrawals in the US – but for out of network or overseas withdrawals, you may only make up to 400 USD/month of withdrawals before paying a 2% charge.
Is Revolut safe for large amounts?
Revolut is a safe and trusted service which works in partnership with several US banks and card issuers. This means it’s a safe way to hold funds, and to send payments – even if you’re transacting high value amounts.
How does Revolut work?
Revolut accounts actually offer quite a broad range of options – and you get more features the more you’re willing to pay every month. Within your account you can hold and exchange currencies and make payments to other Revolut accounts and standard bank accounts.
Even standard plan account holders get some no-fee services with Revolut – but fees do apply once you exceed your no-fee transaction limits, so you’ll want to keep on top of the terms and conditions to make sure you’re not charged more than you expect.
How to use Revolut
Once you have a Revolut account set up, you can manage your personal finances in lots of handy ways, with just your phone. Services include:
- Hold and exchange multiple currencies
- Transfer money to others
- Spend and withdraw with your card
- Save and earn interest
- Buy stocks and ETFs
How to create a Revolut account
Creating an account with Revolut is easy:
- Download the Revolut app or open up the website
- Click Sign up
- Enter your personal details, following the onscreen prompts
- Complete the verification step as required
- Once your account is verified you can add funds and get started
Revolut account verification
What documents you’ll need
The documents you need to get verified are usually a passport or driver’s license – but other documents may also be accepted, and if you’re stuck you can always reach out to Revolut to ask for help.
|Examples of forms of identification
⚠️ Make sure your ID has at least 3 months validity and not expired
⚠️ Make sure it isn’t blurry and shows your full name, your current address and date of birth
How long does verification take
Verification with Revolut can be very quick – but it can also take up to 7 days in some cases.
How to send money with Revolut
- Download Revolut app from Apple App store or Google Play store
- Login and create an account. Once that’s done, you’ll need to top up the account with some money
- Choose the country and how much currency you want to send
- Provide details of where the international money transfer is going including full name, bank account details or mobile phone number
- Pay Revolut and track your transfer in the app
What details do I provide to Revolut when I send money?
Here’s the info you’ll need to provide to send money to someone:
- The amount of money you’re sending
- The countries you’re sending money from and to
- The currencies that you’re sending money between
- The recipient’s full name and address
- Bank details of the recipient’s account (such as an IBAN or International Bank Account Number)
- Bank identifier code also known as a sort code or routing number and the account number. For example, a BIC/SWIFT code, ACH routing number, or IFSC
Hint: Sending money to a Revolut user is instant and without any fees anywhere in the world. You just need to know their phone number.
What about receiving money?
To receive money from another Revolut user you just need to provide your phone number. If they don’t have a Revolut account you just need to provide them with your Revolut account details or a payment link.
Ways to pay for your transfer
Paying for your international payment is simple. Revolut accepts bank transfers to your Revolut account number. You can also add money instantly by card payment. Fees may apply depending on the card type you use.
Unfortunately, you can’t pay by check or cash deposits to top-up your Revolut account.
How long does Revolut take?
How long it takes to transfer funds really depends on where you are transferring to and what currency you are sending:
- It can be instant to other Revolut users
- ACH for local USD payments can take up to 5 working days while Fedwire should be received the next working day.
- SWIFT transfers can take between 2 to 5 working days.
- International (cross-border) payments can take between 3 and 5 working days.
Is Revolut trusted?
At the time of writing, Revolut has a 4.3/5 star on Trustpilot; Excellent
The answer is yes.
Plenty of people have shared their opinions about Revolut on Trust Pilot. The good news is that Revolut scores well. Just over nine in ten people rate Revolut highly, while seven percent rate it poorly.
Positive reviews liked the ease-of-use of the app, the digital services that Revolut offers, and customer service. Negative reviews were mainly about accounts being blocked or disabled, and not being able to find out why.
You can hold and exchange money in your Revolut account in these currencies: AED, AUD, BGN, CAD, CHF, CLP, COP, CZK, DKK, EGP, EUR, GBP, HKD, HUF, ILS, INR, ISK, JPY, KRW, KZT, MAD, MXN, NOK, NZD, PHP, PLN, QAR, RON, RSD, SAR, SEK, SGD, THB, TRY, USD, ZAR.
You can receive transfers in these currencies:
AED, AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, QAR, RON, SAR, SEK, SGD, THB, TRY, USD, ZAR.
Although, the sender’s bank should be in one of the supported countries. (see below for a list of unsupported countries)
Countries you cannot receive money from to your Revolut account:
Belarus, Cuba, Iran, Korea (North), Libya, Myanmar, Russia, Syria, Venezuela (Bolivarian Republic), Zimbabwe.
Countries you cannot send money to with Revolut:
Afghanistan, Angola, Antarctica, Belarus, Bouvet island, British Indian Ocean Territory, Burkina Faso, Burundi, Cambodia, Central African Republic, Colombia, Congo (Brazzaville), Congo (Kinshasa), Cuba, Eritrea, Eswatini, French Southern Territories, Guinea, Guinea-Bissau, Guyana, Haiti, Heard & McDonald Islands, Iran (Islamic Republic of), Iraq, Korea (North), Lao PDR, Lebanon, Libya, Myanmar, Palestinian Territory, Pakistan, Panama, Russia, Sierra Leone, Somalia, South Sudan, Sudan, Syria, Trinidad & Tobago, Uganda, Vanuatu, Venezuela (Bolivarian Republic), Yemen and Zimbabwe.
Customers who love Revolut
“Very easy process to obtain a card. Guided step by step. The card arrived very quickly. Very easy to use. Great you receive notification about each transaction. Love the vault system as it helps to keep track of everything.”
Customers who had issues with Revolut
Of course, there are also some less positive reviews on there. Of the reviews which were listed at the time of research 9% gave the lowest Bad rating. These include issues where people have had accounts locked due to compliance issues, or who were waiting for referral payments to arrive. Revolut’s customer responses on Trustpilot are up to date, suggesting that the team pick up complaints posted here to help resolve them.
“My account was deactivated with no explanations whatsoever. After I successfully used it for more than 2 years and spent about 50k throughout this time. That’s not the attitude I was expecting towards loyal customers.”
Revolut customer service
|Revolut Customer Support
|365 days a year
Toll-free: +1 (844) 744-3512
Live In-App chat support available
Website help: www.revolut.com/help
Website contact: www.revolut.com
Is Revolut reliable?
Despite the issues that some customers had, overall Revolut had high scores with its customer base. So long as you understand the limitations, we’d recommend them, especially if you want to send money abroad.
Depending on what types of service you require you might find that other providers can suit you as well – or better – than Revolut. Check out our reviews for these alternatives to Revolut as a comparison:
Wise vs Revolut: International transfers and multi-currency accounts which use the mid-market exchange rate with no markups
OFX vs Revolut: Open an OFX account for individual or business use for expert advice and bank beating exchange rates, and a 24/7 phone service
TorFX vs Revolut: Get advanced currency services from FX experts
WorldRemit vs Revolut: Cash collection payments offered around the world
Western Union vs Revolut: Online and mobile payments which can then be collected by the recipient in cash at a local agent location
Conclusion: Is Revolut good?
Revolut accounts come with a range of neat features like multi-currency functionality, linked debit cards, and no-fee in network ATM withdrawals. Even the no-fee accounts have some good perks – and you can also upgrade to a paid account for more functionality and features.
Great for: people who need to manage multiple currencies, and want advanced account facilities like interest bearing savings options and kids accounts.
Best for people who will use all the features of their account plan without exceeding the limits – fair usage fees may then start to apply.
Revolut review FAQs
How much does Revolut cost?
Revolut offers no-fee account options for both individual and business clients. You can also upgrade to paid account plans at a variety of tiers, which unlock extra account functions and higher limits.
How long does Revolut take to transfer funds?
How long it takes for Revolut payments to arrive depends on the currency and destination country.
How safe is Revolut?
Revolut is safe and fully regulated everywhere it operates.
How does Revolut apply exchange rates?
The standard Revolut exchange rate is the mid-market rate with no markup. Depending on the account tier you have you may be able to exchange currencies with this rate up to a monthly limit, or without limits. Out of hours fees apply.
Does Revolut have a mobile app?
You can get the Revolut app for Android or Apple phones.
How does Revolut work?
You can sign up for a Revolut account for no-fee or upgrade to a paid payment plan. Each account tier comes with different features and limits, including no-fee currency exchange and transfers.
How many currencies does Revolut support?
Revolut accounts support 25+ currencies for holding, and you can pay and make withdrawals with the Revolut card in 150+ countries.