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.
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.
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:
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.
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.
Residents of the following countries can open a Revolut account:
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.Even contactless payments show up instantly in the app.
See exactly how much you have left to spend and see your transactions broken into categories.
Split a bill with anyone from your phone contacts. Divide it up evenly or choose specific amounts.
If your card is lost or stolen, you can temporarily freeze the card in the app and stop anyone using it.
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:
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.
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.
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.
Revolut Ultra is the fintech company’s most premium subscription plan in the UK. It comes with several exclusive features, including:
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.
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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