Revolut is a great all-in-one banking option for those who travel frequently or live overseas. The account comes with a debit card that can be used in over 150 countries with no foreign transaction fees, and you can hold and exchange multiple currencies within the app for free. The bank account also has no monthly fees or minimums. However, if you are looking for a traditional bank with physical locations, Revolut is probably not your best option.
- No Monthly Fees
- Free ATM Access
- Free International Transfers
- No Physical Locations
- Customer Support
- Low Savings APY
|Minimum Opening Deposit:||$0.00|
|APY:||0.07% (0.05% with Standard plan)|
|Cash Deposits:||Not Supported|
|Bonus:||3 Months Of Revolut Premium|
|In-Network ATM Access:||55,000+ Locations|
|Out Of Network ATM Access:||Free Up To $1,200/mo|
Who Is Revolut For?
- Busy travelers who want a hassle-free way to bank and access money on the go without fees or minimums.
- People who live or work overseas can easily convert and transfer different currencies without fees or long wait times.
- Families who want to manage their finances together but still have some autonomy over their own spending.
Pros & Cons
Revolut Pros & Cons
- No Monthly Fees: Revolut has no monthly fees, account minimums, or foreign transaction fees.
- Exchange Currencies: Hold and exchange multiple currencies without any fees.
- ATM Access: Free ATM access at 55,000+ locations and zero fees on out-of-network ATMs up to $1,200 per month.
- Free International Transfers: Send money abroad with no fees up to 10 times per month.
- No Physical Locations: Revolut has no physical locations, so support is limited to live chat and phone calls.
- Low APY: Although the APY is higher than many traditional banks (i.e., Chase, Bank of America, etc.), many other online-only banks offer higher interest rates.
- Customer Support: Although there is 24/7 live chat and phone support, some customers have reported long wait times for responses.
- Limited Crypto Features: Although Revolut offers fee-free crypto trading, they only offer around 30+ different coins, so there are exchanges, like SoFi, that offer more coins and features.
Revolut Top Features
Revolut offers a free bank account that pays 0.07% APY (0.05% with the standard plan) on your balance. Your money is also FDIC-insured for up to $250,000. You can open an account in minutes without monthly fees or minimums.
- 0.07% APY
- FDIC insurance up to $250,000
- No monthly fees or minimums
Earn up to 30% cash back at select retailers when you use your Revolut card. You can also get discounts on travel, entertainment, and more. The rewards will be directly deposited into your Revolut account after purchase. There are no wait times, and you can access your cash immediately.
- Up to 30% back at select retailers
- Instant cash back
Get unlimited 1% cash back with your debit card when you enroll in Revolut's Metal plan. There are no foreign transaction fees, and you'll get free ATM withdrawals up to $1,200 per month at out-of-network and unlimited fee-free withdrawals at in-network locations. Additionally, you'll be able to freeze and unfreeze your card with a tap, set spending limits, and get real-time notifications of all your transactions.
- Unlimited 1% cash back (With Metal plan)
- Advanced security features
- Instant access to Apple Pay & Google Pay when you create an account
Get Paid Early
With Revolut, you can get paid up to 2 business days earlier when you enroll in direct deposit. There are no fees, and you'll get real-time notifications when your paycheck hits your account.
Organize all your subscriptions in one place and cancel them with a tap. You can also see how much you're spending on monthly subscriptions, so you can make changes if necessary. Easily block unwanted charges and subscriptions with the tap of a button and never get charged for a trial again.
- Automatic subscription monitoring
- Cancel your subscriptions with one tap
- See all your subscriptions in one place
Parents & Guardians
Manage your family's finances all in one place with Revolut. You can set spending, freeze and unfreeze cards, and get real-time notifications of all transactions. Set your children up for financial success with Revolut's allowance feature. You can easily transfer money to your kids and track their spending all in one app.
- Manage your children's finances in one place
- Set up recurring allowance plans
- Monitor their spending and set limits on how much and where they can spend
Start investing in stocks with as little as $1.00. With Revolut, you can buy and sell stocks without any commission fees. You'll also get real-time market data to make informed investment decisions.
- Commission-free stock trading
- Real-time market data
- Fractional shares
Start buying 30+ different cryptocurrencies with as little as $1.00. With Revolut, you can buy and sell crypto without any commission fees. Stay on top of market movements with real-time data and make informed investment decisions. Your investments are safe and secure since most funds are stored in cold storage with trusted custodians. Additionally, learn more about crypto with Revolut's in-app guides and resources free of charge.
- Commission-free crypto trading
- 30+ different cryptocurrencies available
- Safe & secure with cold storage and trusted custodians
Invest in historically stable commodities like gold and silver for as little as $1.00. With Revolut, you can buy and sell commodities without any commission fees. Stay on top of market movements with real-time data and make informed investment decisions. Set automatic round-ups to help you save and invest small amounts of money each day.
- Commission-free commodity trading
- Gold & silver commodities are available
- Real-time commodity market data
Create personal vaults to easily save and create goals with your money. With Revolut, you can set up automatic recurring deposits into your vaults and store up to 30+ different currencies in different vaults. You also can earn up to 1.35% APY on your savings vault with interest paid out daily.
- Earn 1.35% APY
- Create personal savings vaults
- Set up automatic recurring deposits
Send your money internationally with low fees and get the real exchange rates with Revolut. You can also hold, exchange, and transfer 28+ currencies in-app. When you travel, your card will automatically use the right currency at the best rate with no fees. And if you need cash, you can withdraw up to $1,200 per month from any ATM worldwide without paying any foreign transaction fees.
- Get real-time exchange rates
- Hold, exchange, and transfer 30+ currencies
- Fast transfers that arrive in minutes
Lounge Access & Smart Delay
If your flight is delayed over 1+ hour, get free airport lounge access for yourself and 3 guests. Revolut's Premium and Metal plans offer discounted rates at 1,000+ airport lounge locations worldwide.
- Free lounge pass with a delayed flight
- Discounted lounge rates at 1,000+ airport lounge locations
Get up to 10% cash back when you book your next hotel with Revolut. With over 700,000+ hotels to choose from in 200+ countries, you're sure to find the perfect hotel for your next trip. Get exclusive rates and pay no booking fees on all your hotel bookings.
- Up to 10% cash back on hotels
- Choose from 700,000 different hotels
- No additional booking fees
Get affordable coverage for your pet with Revolut. With its comprehensive plans, you can choose the level of coverage that's right for you and your pet. Get access to 24/7 video online vet support, medical care while abroad, and compensation if your pet goes missing or passes away.
- 24/07 video online vet support
- Medical care while abroad
- Compensation if your pet goes missing or passes away
With Revolut's purchase protection (Available for all paid plans), you can be reimbursed up to $600 per item if your purchase is damaged or stolen within 120 days of the date of purchase. You can also extend your warranty by up to an additional 24 months on all eligible purchases.
- Reimbursed up to $600 per item
- Extended warranty on eligible purchases
How To Open A Revolut Account
How to sign up for a Revolut account and get 3 free months of Revolut Premium bonus when you link a funding source and make a qualifying debit card purchase of $1 or more.
Total Time: 5 minutes
Sign up for Revolut and enter your phone number.
Download The App
After entering your phone number, download the Revolut mobile app.
Enter Your Personal Details
Enter your personal details like your full name, residential address, SSN, and email.
Link A Funding Source
Link an existing bank account you have to your new Revolut account, so you can fund the account.
After you fund the account, order a free debit card and make a qualifying purchase of $1 or more to get 3 months of Revolut premium for free.
Revolut Fees & Plans
|Out-Of-Network ATM Limits:||200.00/mo|
|International Transfer Discount:||0.00%|
|Crypto Exchange Fees:||2.5%|
|Commodity Exchange Fees:||1.5%|
|Fee-Free Currency Exchange Limits:||$1,000.00/mo|
|Hotel Cashback Rate:||3.00%|
|Airport Lounge Access:||No|
|Out-Of-Network ATM Limits:||400.00/mo|
|International Transfer Discount:||20.00%|
|Crypto Exchange Fees:||1.5%|
|Commodity Exchange Fees:||0.5%|
|Fee-Free Currency Exchange Limits:||Unlimited|
|Hotel Cashback Rate:||5.00%|
|Airport Lounge Access:||Yes + 1 guest|
|Out-Of-Network ATM Limits:||1,200.00/mo|
|International Transfer Discount:||40.00%|
|Crypto Exchange Fees:||1.5%|
|Commodity Exchange Fees:||0.5%|
|Fee-Free Currency Exchange Limits:||$1,000.00/mo|
|Hotel Cashback Rate:||3%|
|Airport Lounge Access:||Yes + 3 guests|
Revolut Premium (3 Months) Exclusive
How Does Revolut Compare?
Banking, loans, & More All In One
Sign-up bonus (Currently at $250)
Need direct deposit to get 4.50% APY
Live support can be slow
High APY savings account (4.65% APY)
Free ATM reimbursements (Up to $30/mo)
No ATM network
Mobile check deposits sometimes take a while to clear
Highest sign-up bonus ($150)
24/7 live support
Some accounts don't earn high-interest
Service fees can be high
Revolut Vs. SoFi Bank
Revolut and SoFi offer similar services, such as free ATM withdrawals, no foreign transaction fees, and the ability to send money internationally. However, there are some key differences between the two companies. SoFi offers a higher interest rate on its savings account (up to 3.50% APY) and lending products like personal loans, student loans, and a credit monitoring service. However, if you plan on traveling a lot and want to exchange different currencies, we recommend Revolut.
Revolut Vs. CIT Bank
CIT Bank is a traditional bank that offers many products, such as checking and savings accounts, CDs, and IRAs. However, it does not offer the same features as Revolut, such as free ATM withdrawals, the ability to send money internationally with no fees, or purchase protection. CIT Bank may be a good option if you are looking for a more traditional banking experience with fewer fees. However, if you are looking for more features in one app, we recommend Revolut.
Revolut Vs. Fifth Third Bank
Fifth Third Bank is a traditional bank that offers many products, such as checking and savings accounts, CDs, and IRAs. However, it does not offer the same features as Revolut, such as purchase protection, the ability to send money internationally with no fees or purchase protection. If you are looking for a more traditional banking experience with
Should You Sign Up For Revolut?
If you are looking for an all-in-one baking solution with great international features like fee-free ATM withdrawals and the ability to send money abroad with low fees, then Revolut is a great option for you. Additionally, if you frequently travel or stay in hotels, Revolut can offer great discounts and cash back offers. However, if you are looking for a more traditional banking experience or higher interest rates on your savings and checking accounts, there are other better all-in-one banking options available.
How To Buy Stocks With Revolut?
Revolut offers the ability to buy, sell, and hold stocks and ETFs with no commission fees. To do this, sign up for a Revolut account and link a funding source. Then, you can search for the stocks or ETFs you want to buy and hold them in your account. You can do so when you want to sell with just a few taps.
Is Revolut Safe And Secure?
Yes, Revolut is safe and secure. It is a regulated financial institution; all your money is FDIC-insured up to $250,000. Revolut uses state-of-the-art security measures to keep your money and data safe.
What Is The Revolut Debit Card?
The Revolut debit card is a Mastercard that can be used to make purchases anywhere Mastercard is accepted. The Revolut debit card offers free ATM withdrawals, no foreign transaction fees, and cash back rewards.