Revolut is a free-to-use digital banking app that lets you hold and exchange 25 currencies, make payments and withdraw money with virtual cards (even in physical stores) and see transactions all within the app. You can even get a metal card for a small monthly fee.
Revolut offers a feature called group pockets, which allows users to send money instantly to other Revolut members. It has a vault feature which can be used to save money for a rainy-day.
How to open an account
Revolut is one of the most popular online banks in Europe. It offers many advantages over traditional banks including lower fees and access to the world. This guide will help you open a personal account or a business account.
Revolut was founded by two British entrepreneurs of Ukrainian descent, Vladislav Stronsky and Nikolay Yatsenko in London in 2015. The company is backed by investors, including the founders of Skype and Yandex. Revolut has more than 30 million retail clients and 500,000 business customers. Its user base is primarily in the United Kingdom, Ireland, France, and Spain. The company also operates in other countries, but features and terms may vary.
Creating a Revolut account is easy and free. You’ll also need to provide proof of your identity, a valid phone number and email address. You can also link your payment card to your account, allowing you make payments in any currency. Before you can use your account, you’ll need to add money to it. This can be done through your bank, via the app, or with other methods such as Transferwise.
Once you’ve signed up for an account, you’ll receive a six-digit pin that you’ll need to verify your identity. This process usually takes a few seconds, but can take longer in countries with strict banking laws. Revolut Customer Service can assist you if the verification process is not working for you.
Revolut provides a free account to anyone who is over 18 and lives in a country that offers it. If you want to create a Joint account, then both applicants need to be over 18 years old. They also have to pass an ID verification. You can only open one Joint account for each person.
You can withdraw money from Revolut in the currency of your choice. You’ll still need to pay your bank or card provider the transaction fee. You can also exchange currency on the go using the Revolut app. Revolut’s exchange rates are not always as competitive as those of other providers.
Transfer money
Adding money to your Revolut account is easy, just tap the ‘Add Money’ button, below your balance, and select the bank you want to send from. You’ll then be redirected to your bank’s app or website to authorise the payment. Revolut’s app will show a confirmation once the transfer has been completed. Revolut offers a variety of top-up options, including direct deposit, credit cards, debit cards and cryptocurrencies. If you top up with a credit or debit card, the funds may not appear in your Revolut account for up to three days.
If you want to send money to someone who doesn’t have a Revolut account, you can create a payment link in the app, enter the amount you want to transfer and then share the link with your friend. The recipient will have to click on the link, enter their bank details or scan the QR code using their smartphone. Once the money has been received, it’ll appear in your friend’s Revolut account instantly.
Revolut isn’t a full UK bank but it does have permission from the financial regulator to hold your cash as an e-money institution. It’s safer to use than a traditional bank because your funds are protected by UK’s Financial Conduct Authority rules. However you should be careful of the Revolut scam.
The company offers 24/7 customer service in the app and has a robust security system. You can also set up ‘Pockets’ to manage your budget, and get reminders for upcoming bills or subscriptions. There are five different personal accounts. The Standard account is free and offers a debit card with no fees, as well as foreign exchange rates that are better than those on the high street. You can use the Premium Account, Ultra or Metal if you are a frequent traveller and want to earn interest from your savings.
You can deposit cash into your Revolut Account at certain Post Office branches. You can find the nearest one to you by searching on the Revolut website. You must be 18 years old or older to open an account. The Revolut app is available for Android and iOS devices, and you can add as many cards as you like.
Make a purchase
Revolut, a multi-currency bank app, offers unique features such as a prepaid debit card, money transfers and a vault for saving. Revolut customers are able to use their cards with Apple Pay or Google Pay for contactless payments and can send and receive money while on the go.
Revolut also offers virtual cards, which are essentially digital versions of your actual card. These cards are particularly useful when shopping online as they provide an extra layer security for the user. These cards are easily created within the ‘Cards section’ of the Revolut application and can be utilized just like a real card. In order to find a virtual card, simply tap on the card icon in the top right and select ‘Show details’. Users can see the card number, CVV, and expiry date.
When using a Revolut card to make an online purchase, the card information is transmitted securely to the merchant server and processed the same as it would be if you were using a physical credit card. Virtual cards have the advantage of being blocked immediately from the Revolut desktop or app in the event they are compromised. This is much more convenient than having to wait to receive a replacement card.
In addition to providing added security, Revolut virtual cards can be linked to Apple Pay and Google Pay, allowing users to speed up checkout at shops and restaurants with contactless payments. Users can also link their cards to existing phone wallets in order to automate charges such as subscriptions, streaming platforms and more.
Revolut also offers the opportunity to earn cashback for certain retailers. Revolut Spend allows users to track spending on the app, and set saving goals. Revolut doesn’t charge for its Spend feature, unlike competitors such as Starling Bank and Chime.
Check your balance
Revolut lets you see your current balance and your real-time transactions. The app will also alert you to any suspicious activities and you can immediately freeze your card if you suspect that it is being used in an unauthorized way. In addition to these features, Revolut offers other security measures such as location-based security and the ability to block a lost or stolen card.
A Revolut account is free to open and you can deposit funds by bank transfer, debit or credit cards, or direct deposit. Revolut has three different levels that offer a wide range of investment options. You can also add existing investments to Revolut.
Revolut is an alternative to traditional banking. Its services offer better global access, are faster and cheaper than traditional banks. It is one of Europe’s most popular online banking services and has a large customer base in countries such as the UK, France and Germany.
On its website, the company describes itself as “a bank without borders”. It offers customers a global banking solution, including a digital card wallet, a travel card, FX rate and other tools. Revolut also provides an international business account for companies.
Using Revolut is simple, and you can get started right away by downloading the mobile app and signing up for an account. It only takes a couple of minutes to complete the process, which requires your phone number, an email address, and even a picture of yourself. Once you’ve signed up, you can start making payments and transfers with the app.
Revolut accounts can be linked with a debit or a credit card. You can then send money to friends and family instantly. You can also use a Revolut credit or debit card to make online purchases. You can also transfer money to other Revolut accounts or exchange currencies in the app.
Revolut, a European financial services company, aims to revolutionize how people manage and use their money. The company offers low cost and secure transactions, as well as a multi-currency Account, a Mastercard Prepaid Card, and an App that can be used across 150+ countries. Revolut is regulated by the Financial Conduct Authority of the UK.