The most known fintech in Europe offers a good digital banking alternative. Easy to open, if you are an occasional traveler, Revolut standard card is the best solution to save up on banking fees and exchange rate mark-up. Free withdrawal up to 200£ per month and no fee on exchange rate beside week-ends (up to 6’000£/€). That’s enough to start with a free multi-currency card. If you want more limits with others advantages like insurance, there are other premium offering, metal & premium.
With more than 4 millions customers, Revolut is definitely the leader of digitalisation of the current account and debit cards. They think that money should be borderless as well as your account. Their app is perfect to follow your expenses and have a budget.
For people living in EEA country, you can have access to the US stock market without commission. More details here.
|Open account||Close account||Domestic ATM Transaction||International ATM Transaction||Foreign exchange fee||Monthly service fee||Loading fee||Shipping cost|
|Free||Free||Up to 200€ free or 2%||Up to 200€ free or 2%||more than 6000€ + 0.5%||Free||Free||6£|
|Network||Insurance||Rewards||Card type||App||Transfer between user||Physical Card||Virtual Card||Apple Pay||Android Pay|
|Mastercard or Visa||No||Yes *Beta||Prepaid||Yes||Yes||Yes||Yes||Yes||Yes|
|Value dail online transaction||Single ATM transaction limit||Daily ATM withdrawal limit||Monthly ATM withdrawal limit||Max single top-up value||Max daily load||Max daily limit bank transfers|
|Multiple currency||Currency||Country avaibility|
|Yes||USD / GBP / EUR / AUD / CAD / NZD / CHF / JPY / SEK / HKD / NOK / SGD / DKK / PLN / MXN||EU + Switzerland + Australia + Singapore + USA|
|Bitcoin||Other crypto||Transfer In/Out crypto||Without KYC|
|IBAN||Country IBAN||Wire transfer||Trading||Banking license|
|Yes||EU + UK||Yes||Crypto + Traditional||Yes *Granted but not operational|
Frequently asked questions
Revolut is making money with interchange fees, subscriptions and subscriptions on business accounts. You can have more details by reading this article.
Revolut is not yet a bank. It received a banking licence but it does not yet operational. Actually, Revolut is money transmitter institution. So customer funds are not guaranteed by the Financial Services Compensation Scheme (FSCS) in the UK. But Revolut has to keep their customer funds separated from their own funds.
You can use your card everywhere in the world where cards are accepted on the network the card was issued (Visa/Mastercard, Maestro)
“Client funds are stored under a segregated trust account at Barclays/Lloyd’s. Your money is not covered by the Financial Services Compensation Scheme. As an FCA authorised institution, Revolut safeguards your funds as per FCA requirements, the Electronic Money Regulations 2011, and the Payment Services Regulations 2017. In the event of an insolvency of Revolut, you will be able to claim your funds from this segregated account and your claim will be paid above all other creditors.
All your card transactions are processed by the Mastercard, Maestro, or Visa network and are protected by Mastercard, Maestro, or Visa rules.” From Revolut support page