Revolut Premium review
Find out what you stand to gain with Revolut's Premium-tier account.
Revolut Premium is a fintech startup and online banking provider and its Premium account comes with a number of benefits. With Revolut Premium, you can benefit from unlimited free foreign currency transfers, budgeting tools, cryptocurrency and more.
Explore the fees and features of Revolut Premium to find out if it is the right account for you.
Currency conversion fee
|Product Name||Revolut Premium|
|Card delivery||4-6 working days|
|Supported Currencies||SGD, AUD, CAD, EUR, GBP, HKD, JPY, NOK, NZD, SEK, THB, USD, CHF, PLN, DKK, CZK, AED, HUF, BGN, RON, ZAR, TRY, SAR, MXN, ILS, QAR|
|Go to site|
How Revolut Premium works
Revolut is a digital banking app designed to disrupt the traditional banking industry. With Revolut Premium, you can enjoy the functionality of a multi-currency wallet, a competitive money changer, and a budgeting assistant all in one. To get started, simply download the Revolut app to your phone.
- Multi-currency account. Your Revolut Premium account can effectively function as a multi-currency account, letting you carry your balance in 28 different currencies.
- International money transfers. Enjoy free foreign currency conversions with your choice of 30 different currencies. All currency exchange rates are pegged to interbank rates, which are the same rates used internally in a bank, and there’s no limit to the number of transfers you can make.
- International payments. Revolut works with Visa to enable payments internationally (wherever Visa payments are allowed). This allows you to pay both online or in-person at retailers worldwide.
- Budget control. Revolut neatly categorises your expenditure according to various criteria, allowing you to make sure you know exactly what you are spending on. At the same time, their Vaults feature allows you to break your balance up for different goals, with monthly limits set to prevent you from going over-budget.
- Premium debit card. The Revolut Premium card is available in three colours: Space Grey, Silver or Rose Gold.
- Fee-free withdrawals from ATMs. You can withdraw cash for free at ATMs up to $700 per month.
- SmartDelay. Enjoy complimentary lounge passes for you and one accompanying guest if your flight is delayed of more than an hour. With Revolut Premium, you also gain access to more than 1,000 airport lounges around the world. All you need is to get your boarding pass and present your QR code.
- Insurance. Revolut Premium offers complimentary insurance coverage for emergency medical or dental treatment. You’ll also be compensated you for any baggage delays or for lost or damaged items.
Fees and limits
- Monthly fee. There is a S$9.99 monthly fee for Premium.
- ATM withdrawal fees. There’s a 2% when you withdraw more than $700 per month. Note that you currently cannot withdraw cash from ATMs in Singapore.
- Currency conversion. You’ll be charged a 0% fee to convert currency.
- Weekend markup. Watch out for 0.5% markup on major currencies and 1% on exchanges over the weekend.
- Additional card fees. Premium users may request additional cards (first one free) for $9 each.
If you travel frequently or transfer a lot of money abroad, this card may be worth considering. The included insurances are especially useful as they’re active constantly, so you won’t need to sign up for a new policy each time.
However, if you aren’t going to use the extra perks available then you may not get enough value from the card for the €7.99 monthly fee.
You can check out our in-depth review of all Revolut’s accounts, including Standard, here.
How to sign up
Download the Revolut app on your smartphone (available on both iOS and Android devices). Launch the app and begin the registration process:
- Download the Revolut app.
- Open the App and enter your phone number.
- Create a password.
- Enter the six-digit code you receive.
- Enter your first and last name, date of birth and address.
- Take a photo of your NRIC (front and back)
- Take a selfie
- Allow time for verification
Once verified, deposit at least $20 to your Revolut balance so you can proceed to request for a physical or virtual card.
You are eligible for a Revolut card in Singapore as long as you’re above the age of 18.
All you need is your NRIC or any other valid government ID on hand. Additionally, you will be asked to send a selfie for identity verification purposes.
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