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Is Revolut available in Canada?

We take a closer look at the Revolut app that's breaking down borders.

Is Revolut available in Canada?

No, Revolut is not available in Canada. It launched in Canada briefly in November 2019, but pulled back its Canadian operations in March of 2021. However, there are a number of solid Revolut alternatives already available in the Canadian marketplace.

In a post on X (formerly Twitter) Revolut mentioned that it hopes to return to the Canadian market at some point in the future.

What is Revolut?

Revolut is a digital bank based in the United Kingdom, with operations in the US, Europe and Asia. It aims to break down the borders of banking and offer hassle-free global spending with free international money transfers, fee-free global spending and access to a cryptocurrency exchange.

Compare digital banking products that are similar to Revolut

Although Revolut is not available in Canada, you can sign up for these alternatives offering many of the features that makes the Revolut app so popular in other countries – features like easy money transfers, spending analytics, online card management and the ability to set up monthly budgets.

1 - 3 of 3
Name Product Finder Rating Promo Rate Regular Interest Rate Transaction Fee 1 Year Return Offer
EQ Bank Personal Account
Finder Score:
★★★★★
4.3 / 5
4.00% for 12 months
2.50%
$0
$400.00
Simplii High Interest Savings Account
Finder Score:
★★★★★
3.9 / 5
5.90% for 5 months
0.40%
$0
$265.88
KOHO Earn Interest
Finder Score:
★★★★★
4.1 / 5
N/A
5.00%
$0
$500.00
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How does Revolut work?

Once the Revolut app is again available in the Canada, you’ll be able to sign up and request a contactless Revolut card.

The Revlolut app is simple, easy to navigate and streamlined. Features include:

  • Accounts. View the balance and transaction history on your accounts and set up monthly budgets in the app.
  • Payments. The app enables you to transfer money to more than 160 countries in over 70 currencies.
  • Pay friends. Pay friends with ease or use the split bill feature to divide a group spend.
  • Analytics. View your spending habits categorized by type of transaction, merchant or country.
  • Manage your cards. Freeze a card if you lose it, unfreeze your card if you find it, set monthly spending limits and enable additional security.

In the UK, Revolut offers five plan options: Standard, Plus, Premium, Metal and Ultra. All of the plans, with the exception of the free Standard plan, come with a fee ranging from £3.99 to £45 per month.

Using Revolut abroad

Revolut enables in-app currency exchanges in 36 currencies and the ability to send money to more than 160 countries. You can also spend internationally with the Revolut card at competitive exchange rates and comparatively low fees.

In which countries does Revolut Bank operate?

Residents of the following countries can open a Revolut account:

  • Australia
  • Brazil
  • European Economic Area (EEA)
  • Japan
  • New Zealand
  • Singapore
  • Switzerland
  • United Kingdom
  • United States

Is Revolut safe?

The Revolut fintech app is safe to use the countries where it is offered. It uses award-winning AI-based models for fraud detection. To prevent online scammers from stealing your information, Revolut also offers a single-use virtual card with card details that are automatically deleted and refreshed after every online purchase.

For US-based Revolut clients, money deposited into your Revolut account is FDIC protected.

The smartphone app is protected by a password or fingerprint ID. You can immediately freeze or unfreeze your card in the app if it’s been misplaced, lost or stolen. Add further control by turning online, ATM and contactless payments on or off.

Revolut also has location-based security — if your card is used in a different location than your phone, you’ll get a notification and the purchase can be blocked.

How does the Revolut app look in other countries?

Where is Revolut Lite offered?

Revolut offers a limited version of its app, called Revolut Lite, in countries where the full app is not supported. Revolut Lite enables basic features such as sending and receiving funds and, in some countries, the ability to buy, hold and sell cryptocurrencies. Revolut Lite is available in:

  • Armenia
  • Azerbaijan
  • Bangladesh
  • Chile
  • Kazakhstan
  • Kuwait
  • Macao SAR, China
  • North Macedonia
  • Oman
  • Qatar
  • Republic of Moldova
  • Saudi Arabia
  • Sri Lanka
  • Vietnam

What is Revolut cryptocurrency?

When it comes to cryptocurrencies, Revolut stands out from its competitors. In 2017, it became the first challenger bank to let customers buy cryptos in its app. UK users are currently able to buy and sell five major cryptocurrencies and track market fluctuations in the app, but it’s too early to tell if Canadian users can expect the same features.

Pros and cons of Revolut

Pros

  • Spend abroad in 160 currencies with no or low fees
  • 24-hour customer service
  • User-friendly app with control over accounts and cards
  • No maximum currency exchange limit
  • Transfer money at competitive exchange rate
  • Instant top ups from your main account

Cons

  • At weekends, when the markets are closed, Revolut applies a markup to foreign currency transactions
  • Out-of-network ATM withdrawals
  • Some foreign currencies have an additional unspecified markup
  • You can only make up to 100 exchanges per 24 hours
  • No physical branches, which can put off those who prefer face-to-face customer service

If cryptocurrency isn’t what you’re in for, or you just want to get a good look at what your other options are, compare your mobile banking options before joining the waitlist.

How does Revolut compare to other international money transfer services and banks?

When it comes to money transfers and international spending, one of the most competitive alternatives to Revolut in Canada is Wise. Read our full guide to Revolut vs. Wise to learn more here.

What is the Revolut Ultra plan?

Revolut Ultra is the fintech company’s most premium subscription plan in the UK. It comes with several exclusive features, including:

  • Airport lounge access
  • Up to 10% cashback on accommodation bookings
  • Cashback on purchases abroad
  • Travel insurance

Of course, customers have to pay for these add-ons. Basic account holders pay no monthly or yearly fee.

Revolut Ultra gives customers a concierge service. Make requests to the concierge in the app and a member of the team will answer your request via email. You might want a restaurant suggestion or you need to book a last minute trip. The concierge sets up the transaction, but won’t process the deal until you’ve accepted to the final price.

You also get the same perks of Revolut premium, like its comprehensive travel insurance. This covers worldwide emergency medical and dental treatment. On top of this you get compensation for delayed flights and luggage.

How to order a Revolut Metal card

If you’re already on Revolut Premium, then you can upgrade to Metal instantly. Under the “More” section of the app, go to “Upgrade” and press “Go Metal!”.

Whether you’re on the monthly or annual Premium subscription, Revolut will refund you for the month or months you didn’t use your Premium account. If you have a Revolut Standard account, go to the “Upgrade” section to make the request.

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