Try Tide as an alternative
- Award-winning, smart, simple business account
- The hassle-free account for your business
- Get your sort code and account number in minutes
Revolut originally made its mark with its Swiss Army knife of a personal account. 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 bank accounts. We’ve delved into the key features and fees of Revolut for Business to help you decide if it’s the right option for your company.
As the name suggests, it’s Revolut’s business account option, which comes with different pricing and features depending on how big your business is and how much you use the account.
Revolut says it understands how important it is for international businesses to save on transfer costs and send global payments fast. A Revolut business account allows companies to manage and transfer money across numerous different currencies quickly. These accounts are currently available in the UK and the EU.
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:
With Revolut for Business, a registered company can currently choose between two types of pricing plan:
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 2% fee on all ATM withdrawals.
Beside all the basic features you can expect, such as the Revolut card and a slick mobile app, Revolut For Business also offers:
Revolut business customers now 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.
A new feature unveiled by Revolut in November 2020 means that business account holders in the UK can now 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.
The costs for taking these payments will be a 1.3% fee for UK and EEA consumer debit and credit cards, and a 2.8% fee for all other cards. However, account holders on paid Revolut Business plans will receive an allowance of free UK and EEA card payment acceptance every month. The allowance for Grow subscribers is £2,000, and for Scale subscribers is £9,000.
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 announced two new merchant plugins in March 2021 – 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.
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. 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 are charged a fee. If for some reason your business receives or uses a lot of cash, Revolut is probably not the best option.
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 for 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.”
![]() Revolut | |
Account fee | Free |
FSCS protected | |
UK ATM charge | 2% on all withdrawals |
Account software integration | |
Accounting integrations | FreeAgent, Xero |
Additional cards | One for each team member |
Additional card fee | Free for the first card for each team member, the fee for an additional card is £4.99 |
Requires credit check | |
Credit check | |
Key benefits | Can hold multiple currencies, issue prepaid corporate cards and track expenses |
Overdraft | |
Freeze card from app or online banking | |
Instant notifications | |
Interest rate | 0% |
Current account switch guarantee |
![]() Revolut | |
Overseas transaction charge | £3 |
Overseas ATM charge | 2% on all withdrawals |
International transfer charge | £3 per transfer |
Out of 5, the Revolut Business app has a rating of 4.7 from 3,500 reviews in the App Store. It also performs well on Google Play, where it has a score of 4.3 from around 5,500 Android app users (March 2021).
On Trustpilot, customer reviews are for the Revolut brand in general, not its business account specifically. Here, Revolut received an average mark of 4.3 out of 5, and a rating of Excellent, from over 76,000 reviews. Users praised Revolut’s customer service, as well as the international banking and overseas card use features.
Pros
Cons
Just like its personal counterpart, the top feature of Revolut’s business account is the ability to hold different currencies and exchange them for no 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.
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.
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.
Learn about government support and alternative options for businesses needing finance to help deal with the impact of coronavirus.
Want to add highlight to the foundations of your investment portfolio with makeup stocks? Find out how to invest in makeup and the risks.
Earn Avios or cashback on all your business spending with this business Visa from challenger Capital on Tap.
Learn more about how prepaid business cards can be used to spend money with any retailer that accepts debit or credit cards.
Learn how to compare international money transfer services so you can get the best exchange rates and lowest fees.
The Allstar Plus credit card is a combined business and fuel card that promises to reduce your business admin and improve cash flow.
Discover how a joint business bank account works and why you might want to open one.
Discover what a basic bank account is and how they compare to other types of bank accounts.
Saving time on expense reports and streamlining your cash flow are just a couple of the many perks you could enjoy with a business credit card. Compare interest rates and check your eligibility today.
Want to buy Bitcoin but don’t know where to start? This comprehensive guide provides step-by-step instructions on how and where to buy BTC in the UK.
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?
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
How much does each card cost, or are they included? Is there a limit?
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
i’m trading in europe and want to receive payments from business customers by bank transfer. is revolut suitable for this?
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
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!
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
I wanted to find out if Revolut is classed as a UK Bank?
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