Revolut Business account review

This digital banking challenger offers business accounts with a wide range of features. Learn more about the tools on offer and the fees involved with Revolut Business.

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Revolut for Business

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Good flexibility: You can choose different pricing options depending on how you use your business account.
The free account doesn’t include many free transactions.

Revolut originally made its mark with its personal account which offers perks for people who travel a lot. It then launched a business account to appeal to a wider set of customers, and this has been featured as one of our best business accounts. In this review we’ve delved into the key features and fees of Revolut Business to help you decide if it’s the right option for your company.

Compare Revolut’s business accounts

Name Product Account fee Bank transfers Requires credit check Arranged overdraft Accounting integrations Account management Key benefits Business bottom txt Link
Revolut Business Grow
£19 per month
100/month free then 20p per transfer
FreeAgent, Xero
Online & app
Sign up today and unlock 1 month of a paid plan without subscription fees. T&Cs apply.
Go to site
View details
Revolut Business Scale
£79 per month
1000/month free then 20p per transfer
FreeAgent, Xero
Online & app
Sign up today and unlock 1 month of a paid plan without subscription fees. T&Cs apply.
Go to site
View details
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Revolut Business Basic
Free
5/month then 20p per transfer
FreeAgent, Xero
Online & app
Sign up today and unlock 1 month of a paid plan without subscription fees. T&Cs apply.
Go to site
View details
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What is Revolut Business?

Revolut offers 4 accounts designed for businesses. Its basic business account has no monthly fee but it comes with fewer features and smaller allowances compared to the other 3 accounts that have a monthly fee. You also have the option to pay as you go for features you use that aren’t included in your allowance.

Revolut says it understands how important it is for international businesses to save on transfer costs and send global payments quickly. A Revolut business account allows companies to manage and transfer money across different currencies. These accounts are available in the UK, the US, Australia and the EU.

How does Revolut work?

Like many of its app-based competitors, Revolut works entirely from your phone or tablet, apart from the physical cards you are issued alongside the app.

Revolut’s app is all about money management. The display is clear and if you’re working from a tablet you can view all your accounts from one page.

There are several tabs provided to make handling company funds easier, these include:

  • Accounts. View your business balance across accounts in a number of different currencies. Revolut provides your business with easy access to international payments and transfers and allows you to manage your accounts across multiple countries.
  • Cards. Revolut provides prepaid cards for your company. From this cards tab you can review employee spending and card balances.
  • Counterparties. The counterparties tab gives you a rundown of all the companies partnered with Revolut. These partnerships allow you to send money to selected businesses with no waiting time and no fees. From here you can perform transactions with these companies and review past payments.
  • Settings. Manage your account information, personal details and app settings via this tab.

Revolut Business price plans

With Revolut Business, a registered company can currently choose between two types of pricing plan:

  • A basic plan. It comes with no monthly fee, but only a handful of features are included and you’ll be charged separately for the others. For example for money transfers, international money transfers and foreign exchanges.
  • Subscription plans. You pay a monthly fee, but get a higher number of free transactions. You can choose between 3 subscription plans: Grow, Scale and Enterprise. Each has a different monthly fee, number of free transfers and free foreign currency exchange allowance.

Whichever your plan, if you reach your monthly limit of free transactions, you can keep on using the account – you’ll simply be charged for the extra transactions and the fees involved will be the same as for the free plan. All plans also include free card payments in your account’s currency, but there’s a small percentage fee on all ATM withdrawals.

Revolut’s new Tap to Pay feature

Revolut has launched a new Tap to Pay feature for its Business and Pro account customers.

Tap to Pay is integrated into the Revolut iOS app.

With this feature, payments can be accepted by simply holding a contactless card or payment device near the merchant’s iPhone until the transaction is complete. There’s no need for additional payment terminals or hardware.

Revolut uses the in-built contactless technology of an iPhone, meaning your data is as secure with Tap to Pay as it is with Apple Pay.

However, Revolut Business customers must have the app downloaded onto their iPhone. Also, it’s best to note that Tap to Pay is not yet available for Android or Google phones.

Other Revolut Business features

Beside all the basic features you can expect, such as the Revolut card and a slick mobile app, Revolut Business also offers:

  • Additional team members. Who can be administrators of the account? You can only add another person with the free account, but there are options to increase this further with the subscription plans.
  • Virtual and prepaid cards. These can be given to your colleagues and used for physical and online purchases. Virtual cards are free, whereas physical prepaid cards come with a small fee for each team member
  • Multicurrency accounts. These are Revolut’s signature mark. You can exchange multiple currencies. You’ll also get both a sterling and a euro account, including sort code, account number and IBAN.
  • Business software integration. Integrate with a bunch of popular business software packages.
  • Invoicing tool. Create, personalise and send invoices to clients directly from your account. The tool also tracks when the invoices are paid and automatically reconciles them.
  • Expenses product. Only available with the subscription plans, this enhanced expenses management tool includes an automatic receipt matching system which reads receipts and attaches them to expenses; the ability to forward digital receipts to a Revolut Business account via email or by uploading files; and the ability to automatically categorise repeat expenses into sections such as subscriptions or transport.
  • Priority 24/7 customer service. This also only comes with the subscription plans.

What does the Revolut Business app look like?

Revolut app
Revolut app
Revolut app

Revolut’s integration with Clear Books

Revolut business customers have the option of linking their account to Clear Books, which provides online accounting software for small businesses, contractors, freelancers and sole traders.

This will allow customers who have an account with both firms to view transaction records, track whether invoices are paid or outstanding, quickly record bills and expenses, and set up automatic allocation smart rules for matching repeat transactions. The software also creates financial reports, such as P&Ls, balance sheets and VAT returns.

The feed from Revolut to Clear Books is updated four times a day, allowing users to quickly match sales and purchases, and generate a complete picture of their business finances.

Accepting payments online with Revolut Business

Business account holders in the UK can accept customers’ online card payments directly into their account. Revolut says that these payments will be settled the next day, and that payments can be accepted in 14 currencies. This can be done if you have a Merchant Account with Revolut.

There is a cost associated with taking these payments. It’s slightly lower for UK consumer cards compared to commercial cards and cards issued outside of the UK.

In order to accept card payments, businesses can use a website checkout plugin offered by Revolut, or build their own checkout experience using the customisable widget and merchant API. Or, if they don’t have an online store, businesses can request payments from anywhere in the world by sharing a secure payment link with their customers.

Revolut also has 2 merchant plugins – PrestaShop and WooCommerce – for businesses looking to accept card payments on their websites. With PrestaShop, the Revolut Business plugin now comes pre-installed or can be found in the PrestaShop add-ons marketplace. WooCommerce users can download the latest version of the Revolut Business plugin from the official WordPress marketplace or search the admin panel of their WooCommerce store. They can accept payments and sync between WooCommerce and Revolut Business orders, as well as refund customers straight from their WooCommerce store.

Is Revolut suitable for your business?

Revolut’s business account offers a great degree of flexibility and you’ll be charged depending on how much you plan to use the account.

However, its strongest point is still being able to offer a competitive price to companies that deal in different currencies. Plus an additional feature called FX Forwards allows account holders (who are limited companies) to lock in future exchange rates. They can book a contract of GBP, USD and EUR up to three months in advance via their web app. So if your company works internationally, or relies on services outside of your business, then an account with Revolut is more likely to suit your needs.

If your company works mainly within the UK instead, it can still be competitive, but you may be able to find a better match – namely, a business account with no monthly fees that also allows free ATM withdrawals and more free money transfers within this country.

Finally, keep in mind that you can’t load cash into your business account with Revolut and that ATM withdrawals incur a fee. If for some reason your business receives or uses a lot of cash, Revolut is probably not the best option for you.

Video interview: Revolut’s Jamie Devlin explains how it can help your business

Revolut’s Jamie Devlin says: “The thing that is really exciting for me is seeing the number of businesses in the UK and in other jurisdictions in Europe whose main focus is their domestic market, but the reason they’ve signed up to Revolut Business is because we’re quicker to sign up to, we’re also cheaper and what we do really well is help businesses stay in control of their finances.”

Is Revolut safe?

Revolut provides personal and business accounts in the UK and in many countries around the world, but it’s not actually a licensed bank in the UK. This means that customer money is not specifically covered by the Financial Services Compensation Scheme (FSCS), which protects deposits of up to £85,000. However, Revolut is authorised to operate in the UK as an electronic money institution, which means that it’s required to safeguard its customers’ funds in ring-fenced accounts at licensed UK banks. This means that in practice, if Revolut were to go bust, your money would be safely held elsewhere, separate from the company’s own finances.

Compare the fees of popular business bank accounts

Revolut Business customer reviews

Revolut Business won the business banking category in the Finder Customer Satisfaction Awards 2024, with 97% of customers saying they’d recommend the service to a friend. Feedback included praise for its innovative approach and excellent customer service.

One customer commented “Revolut is reliable, instant, customer-friendly and responsive.”

Another said “They are innovative in the field they operate in.”

Out of 5, the Revolut Business app has a rating of 4.9 from 27.5k reviews in the App Store. It also performs well on Google Play, where it has a score of 4.6 from 21.1k Android app users (March 2024).

On Trustpilot, customer reviews are for the Revolut brand in general, not its business account specifically. Here, Revolut received an average mark of 4.2 out of 5, and a rating of Great, from over 147,000 reviews (January 2024). Users praised Revolut’s customer service, as well as the international and overseas card use features.

Depending on the features you use, Revolut’s basic business account might not be totally free, so make sure you’ve wrapped your head around the fees”

Katherine Denham, award-winning personal finance expert

Pros and cons of Revolut Business

Pros

  • Good flexibility: You can choose different pricing options depending on how you use your business account.
  • Prepaid and virtual cards for anyone who needs them.
  • Competitive exchange rates on multiple international currencies, competitive prices on international money transfers and FX Forwards option to fix exchange rates for a set time.
  • A slick mobile app with a lot of features to keep an eye on your expenses and business finances, including an invoicing tool.
  • Easy and quick to apply for and set up.

Cons

  • The basic account doesn’t include many free transactions.
  • Charges for all ATM withdrawals.
  • You can’t deposit cash in your account.
  • Not FSCS protected.

Our verdict: Is Revolut Business any good?

Just like its personal counterpart, the top feature of Revolut’s business account is the ability to hold different currencies and exchange them without paying foreign transaction fees. This is a really unique feature that most banks, traditional or challenger, cannot compete with.

However, when it comes to business accounts, Revolut’s innovations come for a price. The free account, while more flexible, doesn’t really include much, whereas the premium options are comprehensive but not exactly cheap for a small business.

Get started by visiting Revolut’s website and sign up for an account. If you have read this review and decided that Revolut’s account is not for you, you can also compare other business accounts on the market.

In a nutshell, Revolut’s business account is slick, smart and easy to use and set up, but only worth the price if you really need its international payment features.

Frequently asked questions

Banking scores

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.

To find out more, read our full methodology.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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Written by

Matthew Boyle

Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife. See full profile

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10 Responses

    Default Gravatar
    DaveFebruary 3, 2019

    I bought a new iPhone yesterday. My revolute app will not open onto the keypad display. What do I need to do to transfer my existing account across?

      AvatarFinder
      BellaFebruary 4, 2019Finder

      Hi Dave,

      Thanks for your inquiry.

      As per Revolut, they don’t have a mobile app for their business customers just yet. However, they are working on it. But for the meantime, you may use a web browser of your phone to log in to your account.

      I hope this helps.

      Kind regards,
      Bella

    Default Gravatar
    OllyDecember 12, 2018

    How much does each card cost, or are they included? Is there a limit?

      AvatarFinder
      JoshuaDecember 18, 2018Finder

      Hi Olly,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      They don’t charge you for the card, but rather there’s a subscription fee that you need to pay every month. You can check their pricing on their website. Regarding the limit, there’s no limit to how much money you can transfer with Revolut. However, if you are planning to transfer a huge amount of money, you might need to notify Revolut’s customer support to obtain authorisation.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    ColinNovember 9, 2018

    i’m trading in europe and want to receive payments from business customers by bank transfer. is revolut suitable for this?

      AvatarFinder
      JoshuaNovember 20, 2018Finder

      Hi Colin,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Yes, you can use Revolut to receive payment from your customers. If payments would be coming within Europe, then the IBAN information is enough. If payments would be coming outside of Europe, then you need to use the SWIFT information.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    MarkOctober 4, 2018

    Hi,

    I would like to know if there are similar types of business banking as offered by Revolut.

    Tried opening one for a sports club but Revolut are not offering this service.

    Thanks!

      AvatarFinder
      JoshuaOctober 4, 2018Finder

      Hi Mark,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      If Revolut isn’t working for you, you may want to check our list of digital banking providers. On that page, you will see a table that allows you to conveniently compare your options. Once you found the right one for you, click on the “Go to site” green button to learn more or initiate your application. Please review the criteria, details of the financial product, and its conditions, then contact the provider directly to discuss your eligibility.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    FionaSeptember 6, 2018

    I wanted to find out if Revolut is classed as a UK Bank?

      AvatarFinder
      JhezelynSeptember 6, 2018Finder

      Hello Fiona,

      Thank you for your comment.

      According to one of the Revolut team member, Revolut is not classified as a bank, therefore you don’t have a bank account.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

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