Revolut has revolutionized the way people manage their finances, offering a seamless digital banking experience with a wide range of features. From everyday banking to cryptocurrency trading, Revolut aims to provide a smarter, faster, and more efficient financial platform.
In this complete guide, we’ll explore Revolut’s banking and crypto features, fees, pros and cons, and whether it’s the right financial tool for you.
What is Revolut?
Revolut is a digital banking app and financial platform designed to simplify money management. Unlike traditional banks, Revolut operates entirely through a mobile app, eliminating long queues and paperwork.
While Revolut is not a full-fledged bank in every country, it offers many banking-like services, including:
✅ Multicurrency debit cards
✅ Real market exchange rates for currency conversion
✅ International money transfers
✅ Stock and crypto trading
Whether you’re a frequent traveler, a budget-conscious individual, or an investor looking for an alternative to traditional banks, Revolut offers a range of features that might fit your needs.
Key Features of Revolut
1. Revolut Account Types
Revolut offers five personal account plans:
- Standard (Free) – Basic banking features with no monthly fee.
- Plus (£2.99/month) – Additional perks like priority customer support.
- Premium (£6.99/month) – More withdrawal limits and free international transfers.
- Metal (£12.99/month) – Cashback rewards and enhanced travel benefits.
- Ultra (£45/month) – A premium experience with a platinum-plated card and exclusive perks.
2. Revolut Debit Cards
Every Revolut account comes with a multicurrency debit card that allows users to spend in multiple currencies without extra conversion fees (within limits).
✅ Paid plans offer custom-designed, premium cards.
✅ Contactless payments and integration with Apple Pay & Google Pay.
3. Currency Exchange and International Transfers
Revolut provides real-market exchange rates for currency conversion.
💡 Tip: Exchange money during weekdays to avoid the 1% weekend markup fee.
International transfers are available, and some transactions (like those within the UK and SEPA region) are fee-free. However, transfers outside SEPA may come with a fee.
4. Crypto Trading on Revolut
Revolut allows users to buy, sell, and hold cryptocurrencies directly within the app.
- Supports over 100+ cryptocurrencies, including Bitcoin, Ethereum, and Solana.
- Offers instant conversion between crypto and fiat currencies.
- Users can automate investments with features like recurring buys.
- Unlike traditional crypto exchanges, Revolut holds the crypto on your behalf, meaning you don’t have full control (no external wallet withdrawals in some regions).
5. Stock and Commodities Trading
Revolut also offers commission-free stock trading (within limits) and the ability to invest in commodities like gold and silver.
- Fractional shares allow users to invest in big stocks with small amounts.
- Low trading fees compared to traditional brokers.
6. Revolut App – Smart Money Management
One of Revolut’s standout features is its user-friendly mobile app, offering:
✅ Real-time spending analytics
✅ Budgeting tools
✅ Bill splitting with friends
✅ Round-up savings (automatically save spare change)
7. Customer Support
Revolut offers 24/7 in-app chat support, but customer service can be hit or miss.
✅ Paid users get priority support.
✅ Ultra users can request a callback for phone support.
Pros and Cons of Revolut
✅ Pros:
✔️ Easy account setup – Sign up in minutes with minimal paperwork.
✔️ Low-cost trading – Affordable fees for crypto and stock trading.
✔️ Multicurrency accounts – Useful for frequent travelers.
✔️ Real-time budgeting tools – Helps track and control spending.
✔️ Fee-free ATM withdrawals (within limits).
✔️ Competitive exchange rates on weekdays.
❌ Cons:
❌ Crypto limitations – No external wallet withdrawals in some countries.
❌ Limited investment options – Fewer choices than traditional brokers.
❌ Weekend currency exchange fees – Extra 1% markup on weekends.
❌ Customer service issues – Live chat can be slow to respond.
❌ Higher-tier plans are expensive – The Ultra plan costs £45/month.
Revolut Fees – What You Need to Know
1. Monthly Subscription Fees
- Standard – Free
- Plus – £2.99/month
- Premium – £6.99/month
- Metal – £12.99/month
- Ultra – £45/month
2. Currency Exchange Fees
- Standard plan users can exchange up to £1,000/month for free, after which a 1% fee applies.
- Premium and Metal users enjoy higher exchange limits.
3. International Transfer Fees
- Free for SEPA transfers.
- Outside SEPA, fees vary by country and currency.
- Paid plans offer discounts on international transfer fees.
4. ATM Withdrawal Fees
- Free withdrawals within monthly limits.
- 2% fee applies once the limit is exceeded.
Is Revolut Worth It?
Revolut is a great choice if:
✅ You travel frequently and need a multicurrency account.
✅ You want an easy, app-based way to manage money.
✅ You are interested in crypto and stock trading.
✅ You need budgeting and savings tools.
Revolut may not be for you if:
❌ You prefer traditional banks with physical branches.
❌ You need extensive customer support.
❌ You want advanced stock trading tools.
FAQs About Revolut
1. Is Revolut a real bank?
Revolut operates as a licensed bank in some European countries but not worldwide. In most regions, it functions as a financial platform rather than a full bank.
2. Can I withdraw crypto from Revolut?
Crypto withdrawals are only available in certain countries. Otherwise, you can buy, sell, and hold crypto within the app but cannot transfer it to an external wallet.
3. Does Revolut charge for international transfers?
Transfers within the UK and SEPA region are free. For international transfers outside SEPA, fees depend on the currency and destination.
4. How safe is Revolut?
Revolut uses bank-level encryption, two-factor authentication, and other security features to protect your money. However, since it’s not a traditional bank in all regions, deposits may not always be covered by government-backed deposit protection schemes.
5. What happens if Revolut goes bankrupt?
Since Revolut is not a bank in every country, funds may not be protected by a deposit guarantee scheme. However, customer funds are held in segregated accounts, meaning they are kept separate from Revolut’s own funds.
6. Can I use Revolut as my main bank account?
Yes, but it depends on your needs. Revolut offers many banking features, but some users prefer to keep a backup account at a traditional bank.
7. How does Revolut compare to traditional banks?
Revolut offers faster and cheaper currency exchange, lower trading fees, and a modern digital banking experience. However, it lacks physical branches and extensive customer service.
Final Verdict
Revolut is a powerful digital banking and investment platform with impressive features, especially for travelers and tech-savvy users. While it has some downsides, like customer support issues and crypto withdrawal restrictions, it remains one of the best fintech solutions for modern money management.
🚀 If you’re looking for a flexible, all-in-one financial app, Revolut is worth considering!
📢 Have you used Revolut? Share your experience in the comments below!
🚀 Want more finance and crypto guides? Check out MakeMoneyInvestHub.com for expert insights! 🚀
