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Revolut app and debit card review
This financial super app comes with a debit card, access to crypto and much more.
finder.com’s rating: 4.8 / 5.0
★★★★★Revolut is a financial super app that includes spending, saving and investing features. When you open an account, you get hassle-free global spending, international money transfers, and access to cryptocurrency exchanges. Revolut accounts come with virtual and physical debit cards, and based on your plan, you can earn up to 0.07% annual percentage yield (APY) on your savings. But you may pay foreign currency fees or a monthly service depending on which plan you choose.
From $0 per month
Up to 0.07%
Minimum deposit to open
|APY||0.07% on balances of + |
0.05% on balances of to
|Fee||$0 per month|
|To waive the fee||Open a Standard plan with $0 monthly fee. Paid plans:|
• $9.99 monthly fee for Premium plan
• $16.99 monthly fee for Metal plan
|Minimum deposit to open||$0|
|Intro or bonus offer||Just make one qualifying transaction of $1.00 or more with your Revolut card during the promotion period. The bonus will then be credited automatically.|
|ATMs||55,000+ surcharge-free in-network ATMs nationwide|
|ATM transaction fee||$0|
|Out-of-network ATM fee||$0|
|Learn more||Apply now|
How Revolut works
The Revolut card is best for frequent travelers or people who often send money overseas. It’s also great for limited ATM access, and the app lets you buy, hold and sell crypto.
But you can’t use the Revolut card to directly spend crypto. Some crypto-linked debit cards, such as the Coinbase Card, let you choose a form of crypto as a payment method linked to your card.
Unfortunately, the maximum APY you’ll earn is 0.07%, which is barely above the national average of 0.06%. And the Revolut app only supports seven forms of crypto, which is low compared to other crypto-linked financial apps, such as Crypto.com, Coinbase and Celsius.
And there are a few hidden fees to watch out for. For instance, if you withdraw more than $1,200 from ATMs in a month, expect to pay a fee.
How do I open a Revolut account?
Follow the steps below to open an account:
- Select Apply now.
- Go to Revolut.com and select Get started
- Enter your phone number and select Continue.
- Enter the six-digit code you receive.
- Enter your first and last name, date of birth, home address and email.
- Provide your SSN or select “I am not a US citizen.”
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
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 the Revolut card works
The Revolut card works like most other prepaid debit cards in that you can use it to pay for goods and services from any merchant that accepts Mastercard. You can also use it to withdraw funds from ATMs without paying any fees.
But despite the fact that Revolut lets you buy, sell and hold crypto in the app, you can’t directly spend crypto using the card. There are also no crypto rewards to earn with the card.
The Revolut app and online platform helps customers manage their money. You’ll have the ability to spend and transfer money, set up 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, premium or metal account.
How much does Revolut cost?
There are three Revolut plans to choose from — each with different features and cost:
How much interest can I earn with Revolut?
You could earn up to 0.07% APY with your Revolut account depending on which plan you’re under. You’ll earn 0.05% APY on your savings under the free Standard plan and 0.07% APY under the Premium or Metal plan. Revolut savings is a variable rate and subject to change at any time.
Is Revolut safe?Revolut is partnered with Metropolitan Commercial Bank to hold client funds, giving customers standard FDIC insurance on balances up to $250,000. But if you use Revolut Vault to hold your savings, those funds are kept with Sutton Bank, not Metropolitan Commercial Bank.Revolut‘s cryptocurrency services in the US are provided by Paxos Trust Company, but digital assets in your account are not insured by the FDIC or SIPC. Investments in cryptocurrency may also lose value at any time.
If your card is lost or stolen, you have the option to freeze or unfreeze your card in the app or online platform.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 finances. Other benefits include:
- Live chat 24/7. Chat with customer service weekly through Revolut‘s app.
- Lower exchange rate. Many banks apply a margin on top of the interbank exchange rate, but the Revolut app doesn’t.
- No credit check. Banks typically run your credit when you apply, but Revolut doesn’t check your credit.
- Pay friends. You can pay friends through the app or use the split bill feature to divide a group spend.
- Earns interest. You can earn 0.07% APY with the Premium or Metal plan or 0.05% with the free Standard plan. But you’ll need to opt into the Savings Vault feature.
- Compatible with crypto. You can buy, sell, send and receive seven forms of crypto in the Revolut app, but you can’t directly spend crypto with the Revolut debit card.
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 and fees. On weekends when the markets are closed, you’ll get a 2% markup on your foreign currency transactions. But Thai Baht and Ukrainian Hryvnia will always get a 1% markup even during open markets. Also, if you surpass the $1,000 a month currency transfer limit with the standard plan, you’ll pay a fee.
- Online only. There are no branches, which can put off those who prefer face-to-face customer service.
- Additional fees. There’s a fee to load your card when using a debit card issued outside of the US. You may also encounter fees to replace your card.
- 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.
- Website lacks features. You can log into your Revolut account via the website, but the web interface has far fewer features than the app.
- No support for wire transfers. Revolut doesn’t support domestic or international wire transfers.
If a fully digital app to store your funds isn’t what you’re looking for, compare other mobile banking options.
Revolut supports 7 cryptocurrenciesRevolut supports the following forms of crypto:
- Aave (AAVE)
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Chainlink (LINK)
- Ethereum (ETH)
- Litecoin (LTC)
- Matic/Polygon (MATIC)
Revolut‘s ATM network and feesRevolut gives you access to more than 55,000 free AllPoint ATMs. Revolut doesn’t charge a fee for out-of-network ATMs, up to $1200 a month under the Standard, Premium and Metal plan. If you surpass this limit, you’ll pay a 2% fee.
Compare Revolut with digital banks
See how Revolut stacks up against digital banks based on their ATM networks, minimum deposits and other features.
How do I deposit or withdraw money?
Revolut offers three ways to access your funds:
- Revolut card. Access funds in your account by using your Revolut card.
- ATM. Fee-free access more than 55,000 AllPoint ATMs.
- Peer-to-peer transfers. You can transfer to other Revolut account holders for free.
How does Revolut compare to other transfer services?
Revolut reviews and complaints
Revolut is not accredited by the Better Business Bureau (BBB) and has no reviews on the BBB’s website. On TrustPilot, Revolut has an average rating of 2.3 out of 5 stars based on 68 reviews. The positive reviews on Trustpilot mention the convenience of the account and the app’s ease of use, while many of the negative reviews mention unexpected account closures, failed transactions and poor customer support.
On the Apple App Store, Revolut has an average rating of 4.7 out of 5 stars based on more than 26,400 reviews. On the Google Play Store, the Revolut app has an average rating of 4.6 out of 5 based on more than 1.68 million reviews.
How to contact Revolut
If you have questions or need help with your account, you can contact Revolut in two ways.
- Chat with a live agent via the app’s chat function, but response times may vary.
- Send a message to Revolut on Facebook and Twitter at @revolutapp.
Frequently asked questions
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