Revolut Review 2022 [Tested By Finance Experts]

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Revolut is the new online banking application that has revolutionized how people use money. It is similar to PayPal in allowing users to transfer funds around the world at the touch of a button, but Revolut also allows more than just transfers.

Revolut fees are among some of the cheapest you’ll find on any budgeting platform and Revolut card payments are accepted by more than 36 million traders, a number that is growing all the time.

Revolut has been expanding rapidly since it was first founded in 2015 and has been widely acclaimed as one of the fastest-growing fintech companies in the UK. Revolut serves nearly 2 million customers worldwide and continues to grow as it attracts more Revolut users every day.

Revolut is only five years old but has already become a household name in the finance industry, revolutionizing how people use their money all over the world.

The Revolut cards are prepaid Mastercards that can be used to make payments or even cash withdrawals at ATMs worldwide. Revolut’s fee-free budgeting also makes Revolut one of the cheapest places to use your money, with some of the lowest fees around. Revolut is a Revolut card, Revolut account and Revolut app all rolled into one.

Revolut’s premier card and Revolut users can expect all of Revolut’s perks and benefits, plus added extras such as Cashback which pays you back up to 5% on your Revolut card purchases each month.

Revolut has also started offering free cryptocurrency including Bitcoin, Litecoin, and Etherium. Revolut users also earn Dollars which can be exchanged for real-life currencies at interbank rates.

Revolut is a much more secure way of managing your money, especially compared to outdated banking methods. Revolut allows users to create highly customizable budgets, schedules, and alerts so you always know exactly how much you have available in Revolut.

Revolut will also send users Push Notifications to their Revolut app whenever they make a Revolut card purchase or a non-Revolut card purchase. You can view your recent transactions in Revolut, making it easier than ever before to keep track of where your money has gone.

Revolut’s easy app also shows you your Revolut card points balance, making it easier than ever to keep track of any Cashback offers. Revolut users can also block their cards with the Revolut app if they lose them or feel like someone is stealing.

Features of Revolut:

  • Easy to use Revolut app.
  • Use the Revolut card to shop or withdraw at millions of traders worldwide, or just send funds between Revolut users.
  • Free Revolut cryptocurrency exchange.
  • Block your Revolut card with the Revolut app if you lose it or feel someone is using it.
  • Grab Revolut’s premier card and enjoy the best Revolut perks and benefits plus added extras such as Cashback which pays you to back up to 5% on your Revolut card purchases each month.
  • Free international money transfers worldwide.
  • Revolut allows Revolut users to create highly customizable budgets, schedules, and alerts.
  • Revolut also offers interest on your savings.
  • Overdrafts are also possible when using Revolut.

Pros and Cons of Revolut:

Pros:

  • Investment Option:

Revolut allows Revolut users to invest in stocks, indexes, and other financial products.

  • Offers interest on savings:

Revolut gives Revolut users interest in their Revolut savings accounts.

  • Transaction fee:

Revolut has one of the lowest transaction fees in the world. It’s also easy to use and safe. Revolut is a much better investment choice than traditional banking. Revolut can also be used everywhere you go, from ATMs to traders worldwide.

  • Holds Several Currencies:

Revolut users can hold Revolut accounts in several different currencies. Revolut currently allows Revolut users to hold Revolut accounts in 16 different fiat currencies and 3 cryptocurrencies. Revolut also allows Revolut users to hold multiple cards in the same currency, so if you need more than one Revolut card, Revolut will allow users to do that. Revolut also lets users withdraw and spend in multiple currencies, so if you need to travel Revolut has got your back.

  • Premium users:

Revolut allows users to become Premium members for a monthly fee. Revolut Premium members enjoy the best perks and benefits such as cashback, free Revolut Crypto transfers, unlimited Revolut card withdrawals, and more.

  • Privacy:

Revolut is extremely secure compared to traditional banking. Revolut uses Revolut’s current 256-bit encryption to keep your Revolut account, Revolut card, or Revolut Wallet safe. Revolut also generates a unique code every time you log in so it’s nearly impossible for anyone else to access your Revolut account without having physical access to your Revolut device. Revolut also allows users to create a Revolut Alias that replaces your Revolut number, making it easier than ever to keep your Revolut account safe.

Cons:

  • Less benefit for non-prime members:

Non-premium Revolut users might not be able to access some of the Revolut features such as cryptocurrency exchange or Revolut’s Cashback offers.

  • Poor customer support:

Revolut has poor customer support compared to traditional banking. Revolut users might not get their questions answered or Revolut’s responses are often unclear. Revolut does offer a Revolut concierge service but Revolut users must pay to make use of the Revolut concierge service.

  • Higher currency conversion costs on weekends:

Revolut users might be charged a higher currency conversion cost on weekends. Revolut also charges Revolut customers a foreign exchange fee if Revolut customers don’t spend or withdraw in their home currency too often.

Who is Revolut is best for?

First-time shoppers:

Revolut might be confusing at first, so if you’re new Revolut has made it easy to set up Revolut and Revolut does offer a Revolut concierge service Revolut users must pay to make use of the Revolut concierge service.

International travelers:

Revolut is useful for international travelers as Revolut offers free, peer-to-peer money transfers between Revolut users and Revolut cards work almost everywhere. Revolut also allows Revolut users to withdraw and spend in multiple currencies, so if you need to travel Revolut has got your back.

People who want a better savings rate:

Revolut also offers interest for Revolut users that deposit their savings into Revolut accounts. Revolut also lets users create a Revolut Alias that replaces your Revolut number, making it easier than ever to keep your Revolut account safe.

People who want to invest in Revolut:

Revolut allows Revolut users to invest in stocks, indexes, and exchange-traded funds (ETFs).

People who want a better exchange rate:

Revolut offers free, peer-to-peer money transfers between Revolut users and Revolut’s Revolut cards work almost everywhere. Revolut also allows Revolut users to withdraw and spend in multiple currencies, so if you need to travel Revolut has got your back.

Is Revolut safe and secure?

Revolut offers Revolut’s current 256-bit encryption to keep your Revolut account, Revolut card, or Revolut Wallet safe. Revolut also generates a unique code every time you log in so it’s nearly impossible for anyone else to access your Revolut account without having physical access to your Revolut device.

Revolut also allows users to create a Revolut Alias that replaces your Revolut number, making it easier than ever to keep your Revolut account safe.

Is Revolut worth it?

Revolut is definitely worth it for international travelers, first-time shoppers, people who want a better savings rate or invest in Revolut, and Revolut users that need to pay an expensive foreign transaction fee. Revolut might not be worth it for non-premium Revolut users as they might not get access to Revolut’s Revolut features.

Revolut is an online banking service that lets Revolut users manage their money via Revolut’s Revolut app. Revolut offers instant transfers, budgeting tools, and even cryptocurrency exchanges. Revolut also offers a unique Revolut card that uses Revolut’s Revolut app to calculate your Revolut account balance.

Revolut also allows Revolut users to withdraw and spend in multiple currencies, so if you need to travel Revolut has got your back. Revolut currently supports the US dollar (USD), British pound (GBP), Euro (EUR), and Russian ruble (RUB). Revolut also allows Revolut users to invest in stocks, indexes, and exchange-traded funds (ETFs) with Revolut.

Revolut will soon support the Australian dollar (AUD), Swiss franc (CHF), Turkish lira (TRY), Romanian leu (RON), Indian rupee (INR), and Revolut’s Revolut users can also deposit their savings into Revolut accounts for Revolut’s Revolut customers earn interest on deposited savings.

I lead product content strategy for SaltMoney. Additionally, I’m helping our broader team of 4 evolve into a mature content strategy practice with the right documentation and processes to deliver quality work. Prior to Instacart, I was a content strategy lead at Uber Eats and Facebook. Before that, I was a content strategist at SapientNitro, helping major Fortune 500 brands create better, more useful digital content.

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