Revolut Bank: Review

Learn more about Revolut's features and pricing in our comprehensive review

September 25, 2022


General Information

Revolut is a fintech unicorn and one of the world's biggest mobile-first digital banks based in London, UK. Founded in 2015 by Nik Storonsky and Vlad Yatsenko, Revolut started out focusing on low to no fee exchanges and had been widely adopted by international travellers, Revolut has now evolved to provide services through its “global financial superapp” for both everyday needs as well as for growing users' wealth via stocks and cryptocurrencies. The fintech reached over 15 million users and is operating in over 35 countries, providing users with access to more than 30 currencies from all over the world.

Revolut logo

Revolut: Quick Facts

Active Since 2,015
Headquarters London, UK
Total Users 18'000'000+
Website revolut.com
Personal Banking Free plan available
Business Banking Free plan available
Sign-up Bonus Save 20% paying annually
Shared Accounts Not available

Despite the dubious online reputation and quite a few scandals, Revolut can still call itself Europe's most prominent digital bank - both in terms of brand awareness as well as by sheer user counts. Is it worth it to swtich to Revolut? This review will guide you through pros and cons of banking at Revolut as an individual.

Revolut: Countries Supported

Revolut is available for citizens and permanent residents of the following countries:

🇦🇹

Austria

🇧🇪

Belgium

🇧🇬

Bulgaria

🇭🇷

Croatia

🇨🇾

Cyprus

🇨🇿

Czechia

🇩🇰

Denmark

🇪🇪

Estonia

🇫🇮

Finland

🇫🇷

France

🇩🇪

Germany

🇬🇷

Greece

🇭🇺

Hungary

🇮🇸

Iceland

🇮🇪

Ireland

🇮🇹

Italy

🇱🇻

Latvia

🇱🇹

Lithuania

🇱🇺

Luxembourg

🇲🇹

Malta

🇳🇱

Netherlands

🇳🇴

Norway

🇵🇱

Poland

🇵🇹

Portugal

🇷🇴

Romania

🇸🇰

Slovakia

🇸🇮

Slovenia

🇪🇸

Spain

🇸🇪

Sweden

🇬🇧

UK

Revolut promises to be the one app for all finance

Plans available: Personal banking

Revolut offers 4 personal plans that are generously packed with various perks and come at different price points. We will provide a short introduction to Revolut's different plans below, followed by a comparison table. At the end of the review, you can also find our picks for top alternatives to Revolut available today.

Standard

No monthly cost

The entry-level plan from international mobile bank Revolut provides with all the essentials for those who can benefit from accessing multi-currencies. Includes solid budgeting and payment capabilities as well as access to more advanced financial features such as stock and crypto trading.

Plus

€ 2.99 per month

Plus is the new entry-level plan from Revolut for those looking for a little bit extra on top of the Standard plan. The plan includes some additional benefits for everyday use, such as priority customer support, insurance coverage on purchases and even tickets and more.

Premium

€ 7.99 per month

This higher-tier plan from Revolut promises "an upgrade to a global lifestyle", allowing users to spend, invest and save money in various currencies and other assets. With travel insurance, purchase protection and lounge access, Premium is a real strong proposition for users all across the globe.

Metal

€ 13.99 per month

Revolut Metal is the highest-tier subscription from the UK-based digital banking behemoth. This plan offers "ultimate power with the full package" of financial services, offering a contactless Metal card, insurances, purchase protection and up to 1% cashback.

Revolut's bank accounts are also featured in our selection of in-depth "one-on-one" comparisons of the most popular and the best bank accounts in Europe. Read these using the links provided below:

Find a detailed breakdown of feature sets and pricing details for various plans offered by Revolut in our comparison table below.

Revolut: Plan Comparison Table

Revolut logo
Standard Plus Premium Metal
Price, per month € 0.00 € 2.99 € 7.99 € 13.99
Commitment 12-month contract 12 months 12 months
Sign-up bonus Save 20% paying annually
Website revolut.com
Accounts
IBANs LT, UK LT, UK LT, UK LT, UK
Sub-accounts included 1 1 1 1
Shared accounts Group Vaults
Child accounts ✔️ ✔️ ✔️ ✔️
Mobile Payments
Apple Pay ✔️ ✔️ ✔️ ✔️
Google Pay ✔️ ✔️ ✔️ ✔️
Samsung Pay
Other methods Garmin Pay, Fitbit Pay Garmin Pay, Fitbit Pay Garmin Pay, Fitbit Pay Garmin Pay, Fitbit Pay
Cards
Cards available Visa Visa Mastercard Mastercard
Cards included 1 1 2 2
Maestro/VPay ✔️ ✔️
Debit cards ✔️ ✔️ ✔️ ✔️
Credit cards
Virtual cards ✔️ ✔️ ✔️
Extra card fee - - - -
Replacement fee € 10.00 € 10.00 € 10.00 € 10.00
Free replacements 1 per year 1 per year 1 per year 1 per year
Metal card ✔️
Wooden cards
Payment Methods
iDeal ✔️ ✔️ ✔️ ✔️
SOFORT ✔️ ✔️ ✔️ ✔️
Bancontact
Various Fees
SWIFT (receive) € 2.00 € 2.00 € 2.00 € 2.00
Foreign exchange fee 0.50% 0.50% 0.50% -
Currency fee-free limit up to € 1,000 per month up to € 1,000 per month up to € 1,000 per month -
ATM Withdrawals
Daily limit € 3,000 € 3,000 € 3,000 € 3,000
Free withdrawals, per month 5 times - 3 times -
After that, per withdrawal 2.0% 2.0% 2.0% 2.0%
Withdrawal fee abroad 2.0% 2.0% 2.0% 2.0%
Interest Rate
Current accounts 0.0% 0.0% 0.0%
Savings accounts 0.0% 0.0% 0.0%
Transaction & Deposit Limits
Deposit limit - - - -
Deposit Protection Up to £85'000
Monthly spend limit - - - -
Other financial products
Overdraft
Investments in-app ✔️ ✔️ ✔️ ✔️
Crypto trading ✔️ ✔️ ✔️ ✔️
Cheques
Cashback 10% cashback on hotels 10% cashback on hotels 0.1% + 1% outside EU
Insurance Travel Travel, Baggage
Lounge access After 1 hour delay You + 3 friends
Transaction categorization ✔️ ✔️ ✔️ ✔️
Purchase protection €2'500 per year limit €10'000 per year limit
Round-up savings ✔️ ✔️ ✔️ ✔️
Budgeting features ✔️ ✔️ ✔️ ✔️
Deals & Discounts ✔️ ✔️ ✔️ ✔️
Other benefits Powerful analytics Purchase protection Powerful analytics 90-day return
Learn more
Go to revolut.com
Cards of Revolut have a nice tint

Pros & Cons of Revolut

Advantages

  • Plus sign
    Easy currency exchange: You can exchange and hold 30+ currencies including USD, GBP, HKD and AUD, in just a few taps in the app
  • Plus sign
    Budgeting features: Revolut’s everyday use features usually get overlooked for it’s focus on currencies & investments. But it does have some neat budgeting features such as Vault (saving accounts that come with interests), Pockets (like sub-accounts that you can divide your deposits into for different purposes) and Group Bills for bill splitting with friends.
  • Plus sign
    Charity as a feature: Another overshadowed feature for Revolut that has been a success, it’s super easy to support causes that you care about in the app with roundup payments or scheduled contribution.
  • Plus sign
    For the intrepid: Revolut makes it possible for you to dip your toes in investing, from US stocks, cryptocurrencies to commodities, you can quite easily make some small investments in the app.
  • Plus sign
    Great UX/UI: It is safe to say this point is what initially made Revolut popular. A very clean and easy-to-use mobile app (albeit, with a fair dose of annoying marketing communication left and right), a straightforward interface and visually appealing card design. What's more to ask for?

Downsides

  • Minus sign
    Acceptance issues in EU: Revolut is somewhat disliked by certain types of merchants because of the bank's popularity amongst scammers and fraudsters, thanks to its more relaxed KYC and anti-AML practices combined with an ease of opening an account. This results in Revolut not being accepted by the vendor, however, it does happen quite infrequently.
  • Minus sign
    Customer support: There have been quite an avalanche of poor online reviews, stressing that the customer support is a big issue. Granted, that same sentiment can be seen on online reviews of most of "digital-only" banks. Not that in-app support is bad enough to be a deal-breaker and as long as you are comfortable managing your everyday life from a smartphone, you should be fine.
  • Minus sign
    Not quite a bank: Revolut is still under an e-money license in the UK while its EU customers can enjoy a full bank protection from its Lithuanian entity.
Banking everywhere is Revolut's motto

Alternatives to Revolut

Looking for a different bank offering bank accounts that are similar to Revolut? Find our selection of three Revolut alternatives that might better suit your needs below.

bunq

An up-and-coming Dutch neobank that focuses on ethical investment options, giving their users an option to choose how their money get invested. bunq also planted over 2 million trees as part of their green initiative. Powerful Open API and colorful cards - what's not to like?

HQ: Amsterdam, NL
Founded in: 2,015
Users: 5'400'000+
Deposit protection: Up to €100'000
Website: bunq.com
Personal plans: ✔️
Starting at €2.99 per month
 
Business plans: ✔️
Starting at €4.99 per month
Currencies: EUR, USD, GBP, BGN, PLN + 10
Shared accounts: ✔️
Student accounts:
Support: Chat, email
Sign-up bonus: 30 days free trial
HQ: Amsterdam, NL
Founded in: 2,015
Users: 5'400'000+
Deposit protection: Up to €100'000
Support: Chat, email
Sign-up bonus: 30 days free trial
Website: bunq.com
Personal plans: ✔️
Starting at €2.99 per month
Business plans: ✔️
Starting at €4.99 per month
Shared accounts: ✔️
Student accounts:
Currencies: EUR, USD, GBP, BGN, PLN + 10

Monese

Monese offers excellent currency exchange rates, an easy way to transfer money abroad in over 30 countries along with a great mobile app. Aimed at "digital nomads" from all over the EU, neobank offers customer support in 14 languages.

HQ: London, UK
Founded in: 2,014
Users: 2'000'000+
Deposit protection: Up to €85'000
Website: monese.com
Personal plans: ✔️
Free personal plan available
 
Business plans:
Currencies: GBP, EUR, RON
Shared accounts: ✔️
Student accounts:
Support: Chat
Sign-up bonus: N/A
HQ: London, UK
Founded in: 2,014
Users: 2'000'000+
Deposit protection: Up to €85'000
Support: Chat
Sign-up bonus: N/A
Website: monese.com
Personal plans: ✔️
Free personal plan available
Business plans:
Shared accounts: ✔️
Student accounts:
Currencies: GBP, EUR, RON

Curve

Promising assistance in "taking control of your money with one card and one app" to its users, Curve quickly gained popularity in the UK. Unique product that consolidates all your cards and accounts in one place, while categorizing payments and providing cashback.

HQ: London, UK
Founded in: 2,015
Users: 2'000'000+
Deposit protection: Up to €100'000
Website: curve.com
Personal plans: ✔️
Free personal plan available
 
Business plans:
Currencies: GBP
Shared accounts:
Student accounts:
Support: E-mail
Sign-up bonus: N/A
HQ: London, UK
Founded in: 2,015
Users: 2'000'000+
Deposit protection: Up to €100'000
Support: E-mail
Sign-up bonus: N/A
Website: curve.com
Personal plans: ✔️
Free personal plan available
Business plans:
Shared accounts:
Student accounts:
Currencies: GBP
Revolut is a digital bank with app-first focus

Final Verdict: Is Revolut Worth It?

Revolut is a great choice for everyday banking and it doesn't matter if you're in the UK or in EU. A wide range of features, a huge army of fans and an extensive partner network all converge in a great product for both personal and business banking. Revolut can satisfy both a person not interested in any of the stock trading, cryptos (coming soon!) nor spending in 30+ currencies, as well as be a great choice for someone worshipping healthy personal finance practices. Being one of the biggest neobanks, Revolut boasts an astonishing (yet somewhat questionable) figure of 15 million active users and it does not seem like the bank is past the rapid growth stage yet.

Ultimately, Revolut's expansion might just tell you that millions of people already appreciate the sleek app and a great UX provided - why not join them today? After all, a free plan is available for you to get a sense of banking with Revolut, so all that's left is to download the app!


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