Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Revolut app and debit card review

Last updated:  

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

finder.com’s rating: 4.5 / 5.0

★★★★★

Revolut is a digital bank that launched in Europe in 2015 and has recently expanded into the US. It aims to offer hassle-free global spending, free international money transfers, fee-free global spending and access to cryptocurrency exchanges. But some of its features aren’t available to Americans yet.

$0

Monthly fee

N/A

APY

$20

Minimum deposit to open

Details

Monthly fee$0
Minimum deposit to open$20
ATM transaction fee$0
Out-of-network ATM fee$0 Revolut gives you $300 a month in ATM withdrawals without a fee. Otherwise, you’ll pay a 2% fee
Foreign transaction fee0.5%

Expert review

Alexa Serrano

Review by


Alexa Serrano is a banking and investments editor at Finder, helping to guide readers to the best savings, checking and investments accounts for their financial goals. A certified anti-money laundering specialist, Alexa's expertise in financial crime, real estate, gaming and counseling has been highlighted on MSN and Reviews.com. She earned a BA in English from Wesleyan College and enjoys reading memoirs in her spare time.

Expert review

Revolut is best for travelers, spenders and savers. It’s mostly recognized for offering account holders the option to spend and transfer money with the interbank exchange rate and no added fees other banks pile on top.

But there are a few fees you’ll want to watch out for if you’re not under its premium plan. And if you make more than $300 or $600 ATM withdrawals a month, expect to pay a fee.

How does Revolut work?

The Revolut app helps customers manage their money. You’ll have the ability to spend and transfer money, setup monthly budgets, freeze your card, get paid up to two days early and more. When you sign up, you’ll have the option of opening up a free or premium account — each with different features and cost:

PlanMonthly PriceFeatures
Standard planFree
  • Ability to spend in over 150 currencies at interbank exchange rates
  • Exchange in 28 fiat currencies — up to $6,500 a month
  • Free ATM withdrawals — up to $300 a month
Premium plan$9.99
  • Ability to spend in over 150 currencies at interbank exchange rates
  • Exchange in 28 fiat currencies — no monthly limit
  • Free ATM withdrawals — up to $600 a month
  • Free airport lounge passes when flights are delayed for more than 1 hr
  • Priority customer support
  • Premium card with exclusive designs
  • First replacement card free
  • Global express shipment delivery for the card

    Is Revolut safe?

    Revolut has partnered with Metropolitan Commercial Bank to hold client funds, giving customers standard FDIC insurance on balances up to $250,000.

    If your card is lost or stolen, you have the option to freeze or unfreeze your card in the app. 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 receive a notification and you can block the purchase.

    What are the benefits of a Revolut account?

    Revolut includes FDIC-insured funds up to 250,000 and an app that lets you manage your accounts. Other benefits include:

    • Customer service available 24/7. Call or chat with customer service weekly through Revolut‘s app.
    • Lower exchange rate. Unlike most banks that apply a margin on top of the interbank exchange rate, this one doesn’t.
    • No credit check. Unlike other banks, this one won’t check your credit.
    • Pay friends. You can pay friends through the app or use the split bill feature to divide a group spend.
    • ATM withdrawals. ATM withdrawals are free as long as you don’t surpass your withdrawal limit. Otherwise you’ll pay a 2% fee.

    What should I look out for?

    Although Revolut comes with a lot of benefits and features, it’s not without its disadvantages:

    • Foreign currency transaction markups. On weekends when the markets are closed, you’ll get an unspecified markup on your foreign currency transactions. But Thai Baht will always get a 1% markup even during open markets.
    • Fee for foreign currency transfers. If you surpass the $6,500 a month limit with the standard plan, you’ll pay a 0.5% fee.
    • Online only. There are no branches, which can put off those who prefer face-to-face customer service.
    • Additional fees. You’ll pay a a shipping fee to receive your card, unless you’re under the Premium plan. There are also fees to replace your card and to load your card if you use a debit card issued outside of the US.
    • Missing features. Some features are not yet available in the US. These include: cryptocurrency exchanges, high-yield savings accounts, metal cards, youth account options, and more.
    • Proof of funds. As part of its anti-money laundering procedures, Revolut may ask to check your source of funds to determine where your money came from. Documentation may include salary pay stubs, bank statements and more. Revolut may deactivate your account if they can’t verify your source of funds.
    • Unclear deposit limits. Although Revolut claims that there are no specific deposit limits, new cards will have an unspecified temporary deposit limit for 24 hours. Some users may have a lower daily deposit limit that increases over time.

    If a fully digital bank is not what you’re looking for, you’ll want to compare banks that offer mobile banking options.

    Revolut‘s ATM network and fees

    Revolut gives you access to over 55,000 free AllPoint ATMs. Your withdrawals are limited to $300 a month if you’re under the standard plan or $600 a month under the premium plan. If you surpass this limit you’ll pay a 2% fee.

    Compare with other digital banks

    Name Product Minimum deposit to open ATMs Out-of-network ATM fee
    N26
    N26
    $0
    Fee-free ATM withdrawals at Allpoint ATMs
    $0
    A digital bank account with no hidden fees, no minimum account balance and no maintenance charges.
    Aspiration Spend & Save Account
    $10
    Fee-free ATM withdrawals at Allpoint ATMs
    $0
    A spend and save combo account with no monthly service fees, free access to every ATM in the world, unlimited cash back rewards and deposits insured by the FDIC. The Aspiration Spend & Save Account is a cash management account offering of Aspiration Financial, LLC, an SEC-registered broker-dealer. Aspiration is not a chartered bank.
    Chime Spending account
    $0
    38,000 fee-free ATMs nationwide
    $2.50
    Linked checking and savings accounts from a mobile-first bank that’s light on fees.
    Lili
    $0
    32,000 fee-free ATMs nationwide
    $2.50
    A checking account designed for freelancers with no account fees and no minimum balance.
    Zero Checking
    $0
    Zerocard is usable anywhere Mastercard is accepted.
    $0
    A mobile banking experience consisting of an app, a credit card called Zerocard, and a checking account called Zero Checking.
    Dave
    Over 32,000 MoneyPass ATMs nationwide
    $0
    This digital-only deposit account features overdraft protection, interest-free cash advances and no minimum balance. But prospective new account holders are waitlisted.
    loading

    Compare up to 4 providers

    How do I open a Revolut account?

    Follow the steps below to open an account:

    1. Download the Revolut app.
    2. Open the App and enter your phone number.
    3. Create a password.
    4. Enter the six-digit code you receive.
    5. Enter your first and last name, date of birth, home address and email.
    6. Provide your SSN or select “I am not a US citizen.”

    Eligibility

    To open an account, you’ll need to meet the following requirements:

    • At least 18 years old
    • Valid Social Security number or Taxpayer Identification number
    • Valid US address

    Required information

    Make sure you have the following information handy when you open an account:

    • Name and date of birth
    • Mailing and email address
    • Government-issued ID
    • Social Security number or Taxpayer Identification number

    How do I deposit or withdraw money?

    Revolut offers three ways to access your funds:

    • Debit card. Load your account with your debit card. If it’s a card issued outside the US, you’ll pay a 3% fee.
    • ATM. Access over 55,000 AllPoint ATMs for free as long as it’s within your monthly limit.
    • Transfers. You can transfer to other Revolut account holders and to bank accounts outside of Revolut.

    How does Revolut compare to other transfer services?

    Frequently asked questions

    Checking account ratings

    ★★★★★ — Excellent

    ★★★★★ — Good

    ★★★★★ — Average

    ★★★★★ — Subpar

    ★★★★★ — Poor

    We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.

    Read the full methodology of how we rate checking accounts.

    Ask an expert

    You are about to post a question on finder.com:

    • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
    • finder.com is a financial comparison and information service, not a bank or product provider
    • We cannot provide you with personal advice or recommendations
    • Your answer might already be waiting – check previous questions below to see if yours has already been asked

    Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
    Go to site