Beginner’s Guide to Revolut: Complete Review

Revolut App Review

Revolut is banking app and payment card that is aiming to be an alternative to traditional banking products, that is designed to fit the lives of those with a global lifestyle, or anyone who wants the flexibility that you cannot get from regular banks.

Revolut’s goal is to adapt to the needs of clients, giving them control. There are accounts for businesses and consumers, and Revolut offers global spending and international money transfers without any hidden fees.

Visit Revolut

Revolut has more than 2 million customers. According to its website, these customers have completed more than 150 million transactions for a total value of over £15 billion. Revolut has saved customers £560 million in fees thanks to its real exchange rates.

What Can You Do with Revolut?

Those who use Revolut can spend their money abroad without having to pay any hidden fees thanks to the contactless Revolut card. It works with more than 130 currencies, giving you the real exchange rate without having to rely on brokers or exchanges which offer bad exchange rates.

Revolut also offers the ability to send money around the world without hidden fees.  This feature also works in more than 130 countries and provides fast, and secure money transfers. It also relies on the real exchange rate, which can let users save as much as 8 percent. You can use this feature to easily split bills with your family or friends or get paid back; they do not even need to download the app for you to receive the money.

Revolut Card

Additionally, Revolut makes it easy to buy, hold, or exchange cryptocurrencies. You can swap Ether, Bitcoin, and Litecoin with one of 25 different fiat currencies, and like the other services, you always get the best rate.

Revolut even offers convenient methods for users to save money with ease. You can do this via a recurring payment to your savings or Vault, one-off contributions when you want, or rounding up each transaction. On a related note, users can utilize Revolut to track their spending via instant payment notifications as well as simple-to-understand analytics that categorize transactions, so you can stick to a budget.

Use Revolut to set up recurring payments and direct debits, as well. There is already support for this function in EUR, and it is coming soon for GBP.

Revolut is Filling in a Niche

International money transfers can get expensive. It doesn’t matter if you are using the SWIFT system, third party services like Western Union or just taking money out of your regular bank account in another country.

Revolut is probably looking to undercut these established markets, and pass the savings along to its customers. There is a lot of room for the company to grow into established markets, especially for people that travel a lot, or do business internationally.

There are Three Major Systems to Transfer Money Internationally

Most people don’t deal with international money transfers, and the banks know they have the advantage. There haven’t been many options for people that didn’t want to use one of the three systems listed below. Now, Revolut is among the companies that are upending the status quo and they may be able to save you a lot of cash.

Bank Transfers/SWIFT

Since it was introduced in the 1970s, the SWIFT system has been the de-facto standard for international money transfers. Unfortunately, the SWIFT system was conceived at a time when the Fax machine was new technology.

The cost to use the SWIFT system is high by any measure. For large transactions (in excess of $10,000) the $50+ in fees for SWIFT transfers are negligible, but on smaller amounts they really take a bite out of the money that is being moved.

It is important to remember that interbank transfers are basically just book keeping entries, which invites a lot of questions on the topic of cost. There is no physical ‘money’ to speak of, which makes the costs associated with SWIFT look extreme for the work being done.

Independent Transfer Agents/Western Union/Money Gram

Even if you wanted to use the interbank system, it can be very difficult to open up a bank account in a foreign nation. Until recently services like Western Union were the only way to move money abroad. The fees to use these systems vary, but they aren’t especially competitive.

In addition to high fees, using independent transfer agents can be time consuming.

Not only does the sender have to visit an agent, the receiver also must wait for their money. There are few standards when it comes to customer service at independent transfer agents, so going this route could be both expensive and time consuming.

Revolut Travel Money

ATM Withdrawals Overseas

The rise of ATM machines has made it easier to access your bank account balance overseas, but this convenience can come at a high price. It is common for both banks to charge a fee to the person who is withdrawing cash abroad, and these fees can impact the cost of the transaction.

In addition to transaction fees, some banks also charge for using a card in another country. Needless to say, this is a less than perfect solution to spending your money abroad. Revolut was founded by people who understand these systems, and understand that creating efficiency can be a great business model.

Revolut Accounts

You can get a UK current account or a European IBAN for free, without any credit check or proof of address. With those accounts, you can exchange and hold as many as 25 currencies, always getting access to the real exchange rate. The free account is also known as a Standard Account. It still delivers interbank FX rates, free bank transfers in 24 different fiat currencies, and £200 or €200 in free ATM withdrawals each month.

Premium accounts cost £6.99 per month and have similar amenities but increase the withdrawals to £400 or €400. This account also adds:

  • Free turbo transfers
  • Free overseas medical insurance
  • Free unlimited FX volumes
  • Delayed flight and delayed baggage insurance
  • Free global express delivery to 180 countries in one to three working days
  • Spare card to be activated with a tap
  • Instant cryptocurrency access
  • Exclusive priority 24/7 customer support
  • Free disposable virtual cards
  • Free exclusive premium cards

There is also a 14 percent discount on the fee if you pay upfront.

Metal accounts are new and cost £12.99 per month, increasing the ATM withdrawals to £600 or €600. They also add:

  • Free exclusive concierge service
  • Free exclusive Revolut Metal card
  • As much as 1 percent cash back on every card payment in any supported currency (including cryptocurrencies)
  • Access to special offers

There is a 23 percent discount for paying upfront. The Metal card is even made from one sheet of reinforced steel and weighs 18 grams. The concierge services include service at home and while abroad, including aid with flight bookings, hotel reservations, and exclusive events, among other things.

Setting up a Standard account takes seconds, while a Revolut Premium account only takes three minutes.

Revolut Prices

Revolut Fees Breakdown

Revolut charges a range of fees depending on which subscription you choose, here is a breakdown of what they charge.

Premium Subscription Fees

If paying monthly
(payable monthly in arrears)
If paying annually
(payable annually in advance)
£6.99 / €7.99 / 8.99USD / 8.99CHF / 29.99PLN / 59.99DKK / 76.99NOK / 76.99SEK / 29.99RON / 174.99CZK£72.00 / €82.00 / 92.00USD / 92CHF / 300PLN / 620.00DKK / 790.00NOK / 790.00SEK / 300.00RON / 1750.00CZK

Metal Subscription Fees

If paying monthly
(payable monthly in arrears)
If paying annually
(payable annually in advance)
£12.99 / €13.99 / 15.99USD / 15.99CHF / 49.99PLN / 109.99DKK / 139.99NOK / 139.99SEK / 54.99RON / 299.99CZK£120.00 / €135.00 / 160.00USD / 160.00CHF / 500.00PLN / 1000.00DKK / 1300.00NOK / 1300.00SEK / 500.00RON / 3000CZK

The subscription fees will be charged to your Revolut Account in your base currency, as determined by your registered address.

Additional Revolut Card Charges

ServiceStandard UserPremium UserMetal User
Spare Premium Revolut CardNot applicableFreeFree
Spare Metal Revolut CardNot applicableNot applicableFree*
Additional Virtual Revolut Card
Issuance Charge
£4.99 or currency equivalentFreeFree
Additional Physical Revolut Card
Issuance Charge
£4.99 or currency equivalentFreeFree
Physical Revolut Card
Delivery Charge
£4.99 or currency equivalent, unless you ask for Global Express Delivery in which case £11.99 (UK), €19.99 (EU) €29.99 (everywhere else) or currency equivalentFreeFree

Revolut Transaction Charges

ServiceStandard UserPremium UserMetal User
Instant TransfersFreeFreeFree
Turbo Transfers£5 / €6 / 6USD / 25PLN / 6CHF / 45DKK / 55SEK / 55NOK / 25RON / 140CZK or currency equivalentFreeFree
Revolut Bank TransfersAs advised prior to entering into Bank Transfer.As advised prior to entering into Bank Transfer.As advised prior to entering into Bank Transfer.
ATM Withdrawal FeeATM Withdrawals up to £200 / €200 / 200USD / 200CHF / 800PLN / 1,500DKK / 2,000SEK / 2,000NOK / 800RON / 4,500CZK or currency equivalent per month are free. Anything over the above limits is charged at 2% of value of ATM Withdrawal.ATM Withdrawals up to £400 / €400 / 400USD / 400CHF / 1600PLN / 3,000DKK / 4,000SEK / 4,000NOK / 1,600RON / 9,000CZK or currency equivalent per month are free. Anything over the above limits is charged at 2% of value of ATM Withdrawal.ATM Withdrawals up to £600 / €600 / 600USD / 600CHF / 2400PLN / 4,500DKK / 6,000SEK / 6,000NOK / 2,400RON / 13,500CZK or currency equivalent per month are free. Anything over the above limits is charged at 2% of value of ATM Withdrawal.

The Standard Exchange Rates

CurrenciesDuring FX market hoursOutside of FX market hours
USD, GBP, EUR, AUD, CAD, NZD, CHF, JPY, SEK, HKD, NOK, SGD, DKK, PLN and MXN only.The interbank rate. The interbank rate is provided by financial exchanges and may be delayed as specified by financial exchanges or our data providers.0.5% above the interbank rate on any exchange.
All other currencies except THB, RUB and UAH.The interbank rate. The interbank rate is provided by financial exchanges and may be delayed as specified by financial exchanges or our data providers.1.0% above the interbank rate on any exchange.
THB, RUB and UAH.1.0% above the current interbank rate on all exchanges.2.0% above the interbank rate on any exchange.

Revolut Insurance for Premium and Metal Accounts

That medical insurance overseas comes from Revolut Travel Limited. This includes emergency dental and medical treatment while abroad, access to the extensive network worldwide, and rapid reimbursement into the Revolut account.

The delayed flight and baggage insurance apply to delays of more than four hours (in each situation). There are no deductibles, and this service also comes from Revolut Travel Limited. For delayed flights of more than four hours, you receive £80 per hour with a maximum of £320. Baggage delays of more than four hours give you up to £320 to cover replacing clothing, toiletries, and medication.

Finally, those with Metal accounts receive a 20 percent discount if they choose to get device insurance. This insurance includes global protection against liquid damage, drops, and more.

Revolut Helps You Meet Your Financial Goals

Let’s face it, most people aren’t great with money. We don’t care much for our bank balances until we can’t buy groceries, and saving for retirement is much like going to the gym; we know we should, but we just don’t.

Revolut joins other new finance companies in making your spending habits easy to understand. Not only do they allow you to track how you spend, you can also set your Revolut account up to save any spare change you create via purchases.

Spending Analytics

Ever hear old jokes about balancing a checkbook?

The simple fact is that money just isn’t very interesting, especially when it comes to keeping track of spending. Revolut has an easy to use analytics system that will show you where and how you spend your money. No keeping receipts, or having to work backwards from a slew of monthly statements.

Once you have a handle on how you spend, it is a lot easier to make sure you aren’t doing silly things with your money. The platform can’t force you to be responsible, but it can help you to understand how you handle your money and where it is going every week!

Manage Your Money

Automatic Savings

One of the biggest innovations that companies like Revolut are bringing to the next generation is the ability to save money automatically. It is no secret that the younger you start saving, the earlier you can start to worry less about work and money.

The vast majority of people have a hard time actively saving for their old age, which is why so many companies make retirement contributions mandatory, and countries require that their citizens pay into social welfare plans.

Revolut has a few different ways that you can save automatically, and then do what you want with the money. There is also a whole new breed of ‘robo advisers’ available, which make investing your money extremely simple.

What Are Vaults?

Vaults are a way of saving money to quickly reach financial goals. It takes just a few seconds to set up a Vault, and you can set up as many as you want, each for a different financial goal. Let the Revolut app know the value you want to work toward saving in the Vault and give it a name. Then, you can either transfer money directly from your main Revolut account to the Vault or set up another method of working toward the goal.

Revolut Vaults

One popular option is rounding up all transactions made with the Revolut card and saving the difference in your Vault. You can actually use this feature to save in cryptocurrencies by automatically buying Bitcoin or another crypto with the amount that would automatically go into your Vault. Alternatively, you can set up a recurring payment for a specific amount to go to the Vault every week or month. When you make a transaction that rounds up to deliver savings in your Vault, you will get a push notification that tells you the amount you saved and the value in the Vault so far.

Disposable Virtual Cards

Free disposable virtual cards are a perk that Premium and Metal account holders receive. This is a virtual card that you create to make an online payment that is secure. The card number automatically changes with each payment, helping to protect against fraud.

Cryptocurrency on Revolut

Revolut delivers a quick and easy way to buy, exchange, and hold Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Ripple with access to top exchange rates.

Revolut prides itself on never including hidden fees when buying or selling cryptocurrency, instead providing a single transparent rate. You can use the Revolut application to buy and sell any of the above cryptocurrencies and 25 fiat currencies by just pressing a button.

There is no need to wait days for approval to start using Revolut for buying and selling cryptocurrency since crypto support is standard for accounts. Since your account can be opened in just 60 seconds, buying or selling crypto with Revolut is simple and quick.

Revolut Cryptocurrency

You can also use the Revolut application to follow the rates of cryptocurrencies in real-time via the converter section of the app.

The application also lets you track your performance with a crypto over time and compare the historical price changes, the latter of which can give you a better idea of when to buy or sell a given cryptocurrency. There is also the choice to set up price alerts when a crypto reaches a specific target value; you then receive a push notification at the appropriate time.

Additionally, you can use cryptocurrency on Revolut just as you would any other currency. This means that you can send or receive crypto to contacts instantly without any concerns. Or you can spend cryptocurrency via the Revolut card, which will automatically convert the amount spent into the local currency.

How to Fund Your Revolut Account

There are multiple methods for funding your Revolut account. You can use a bank transfer, including topping up via your salary. You can also top up your account with a card, either in a one-time instance or automatically. There is even the option to add money to your account via Google Play or the Apple Pay, including with Apple Watches. Currently, the Apple Pay support is for 35 countries, but this list will expand soon.

Sending Money Internationally with Revolut

One of the major features of Revolut is the ability to send money internationally and do so up to 10 times cheaper than you would with a bank.

Revolut offers free, fast, and secure money transfers to a bank account within one of more than 130 countries, and this is done using the real exchange rate. That comes in sharp contrast to the typical exchange rate offered by banks, which builds in a profit for the financial institution.

The pricing for Revolut exchange rates is the same as the Interbank Exchange Rate, which is the figure that banks actually use to trade among themselves.

Revolut Foreign Payments

There is no fee associated with exchanging and transferring one of the 24 currencies in the Revolut application. The free transfers can take up to two working days. If you need the transfer completed within one working day, you can upgrade to a turbo transfer, which is free for Premium account holders and costs £5 for Standard account holders.

The money is sent from your Revolut account, which you can load using your debit or credit card or a bank transfer. Transferring is as simple as choosing the recipient and the quantity to send. You can also set up recurring payments that involve multiple currencies, with the ability to adjust when and how often in addition to the amount. Revolut also stands out with the fact that you do not need to share bank details to send money; you just tap a button.

Payments with Revolut

Sending a payment with Revolut is similar to making a transfer, including being simple and only requiring a tap. Additionally, the process for sending and requesting money domestically is the same as doing so internationally.

You can use Revolut to send or request money by tapping the relevant phone contact within the application. You can even send money to someone if you do not know their phone number. Revolut can use GPS to show the other Revolut users by you, letting you just tap their name to send or request money.

There is also a built-in feature in the application to let you easily split a bill. You select who you are splitting it with, and Revolut sends the request. If the person does not pay you back, the app will send them a reminder.

A unique feature of Revolut is the ability to receive money from those who do not have the application. In this case, you send a money request to the person in question via a payment link. They use that link to enter the details of their bank card, letting the money send in seconds.

Is Revolut Secure?

Revolut is secure and also puts users in control of their security. You can easily freeze and unfreeze your Revolut card via the application if you lose it or it gets stolen. You can also use the application to turn off contactless payments, ATM use, and online payments, then easily turning them back on when you want.

In terms of fund safety, Revolut holds client money in ring-fenced segregated client accounts that are held by Tier 1 bank partners. Revolut is also authorized by the FCA, which means it meets FCA requirements for safeguarding funds, along with the Payment Services Regulations 2017 and Electronic Money Regulations 2011.

Revolut is Part of a Bigger Financial Plan

Depending on what you need to do with your money, Revolut could save you large amounts of money on a monthly basis. For people that need to transfer money internationally, or travel frequently, Revolut has the potential to create huge savings.

Saving money is an important part of any persons’ long term financial success, and Revolut makes it easy. The money saved can easily be invested in any number of ways, and automated investment is a really good way to leverage your savings in the global markets.

There is a movement toward making the financial system more efficient, and sidestepping the traditional banking model. All of this leaves you with more money in your account, which is great news for anyone.

Revolut isn’t the only platform out there that is doing this, but they are one of the first digital money management services to offer fully integrated cryptocurrency accounts. It is worth thinking about how you use your money, and deciding on which service based on how much you stand to save over time.

Revolut Customer Support

The Revolut customer support is very good. There is a dedicated support team available, and you can easily reach someone via the website or the mobile application in a chat.

Revolut Pros

  • Can hold up to 24 different currencies in your account
  • Can purchase Cryptocurrencies
  • Spend abroad, avoiding poor exchange rates
  • 24 Hour Customer Service via the website or live chat
  • User friendly App
  • Physical Card

Revolut Cons

  • When markets are closed at the weekend, fees are charged of 0.5% and 1% on currency exchange rates
  • Foreign Exchanges over £5000 cost 0.5%
  • Free Cash withdrawals are limited to £200 per month
  • No physical bank branches


Revolut aims to offer an alternative to traditional banking, including specific benefits for those who conduct transactions in multiple currencies.

You can create an account with Revolut for free or opt for an account with a monthly fee for more perks. Revolut always uses real exchange rates and does not charge hidden fees, delivering a great value. It works for users in more than 130 countries and is available for both Android and Apple devices.

The app is well designed and very easy to use, one of the best we have seen in fact, so you should have no trouble getting used to using it.

The ability to hold different balances in up to 24 different currencies is great for people going on holiday, who travel a lot for business or work and receive their wages in a different currency to their home one.

You should be aware of the extra charges for foreign exchanges at the weekend – 0.5% for major currencies and 1% for others and plan your exchanges accordingly.

You should also not that the card can take 7-14 days to arrive, so if you need it for a planned holiday, make sure to order it well in advance.

We are fans of the Revolut app and card here at Blockonomi, it presents a good step forward in banking technology and helps make foreign currency exchanges simpler and cheaper for it’s holders.

Visit Revolut



Ease of Use






Customer Support





  • Instant Exchange Between Currenices
  • Spend abroad, avoiding poor exchange rates
  • Easy to Use App
  • Physical Card
  • 24-hour Customer service


  • Cash Withdrawals Limited to $200 Per Month
  • Extra Fees on Weekends
  • No Physical Branches

Oliver Dale is Editor-in-Chief of MoneyCheck and founder of Kooc Media Ltd, A UK-Based Online Publishing company. A Technology Entrepreneur with over 15 years of professional experience in Investing and UK Business. He built Money Check to bring the highest level of education about personal finance to the general public with clear and unbiased reporting.

Content on is provided for general informational purposes, and shouldn't be seen as an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed on this Site do not constitute investment advice and independent financial advice should be sought where appropriate. All our articles fact-checked by a relevant professional with expertise in that area of finance and we regularly update guides as necessary.


  1. The problem I’m finding with revolut is that it takes so long for money to show on the account after it has been transferred. So, you can’t just put £50 on it so your kid can go shopping. Because, the money won’t show in the balance for a good few hours! The only use for these Cards is to ‘Top-up’ before you go on holiday and put them back in the drawer when you get home

  2. I think this is a little unfair, transfers from my debit card seem to be within seconds, bank transfer take about 4 hours. So the £50 would be the in seconds, £5,000 would take a little longer.

  3. Very bad service, it’s an online bank not a real bank as they never help out customers I wanted to dispute some fraudulent transactions and they refused as my card was compromised. Don’t trust this bank only if you have nothing to do with your money.

  4. They have an awful and bullying customer service. I closed my account because after 2 days of painful communications with them.

  5. these people are cheats.
    accounting not OK.
    no decent answers.
    when thoroughly checking account: noticed that ‘sometimes’ a very different EUR-USD exchange rates is used.
    no decent answers about that….
    when using card in weekend: posts in account are changed later….WTF….you change AFTERWARD???
    are you kidding me.
    Destroyed card, this is a ridiculous rip-off.


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