Revolut

Revolut Premium review

Compare the Revolut Premium current account against Revolut Standard, to help you decide if it's worth the monthly fee.

3.8 ★★★★★ (34 reviews) Write a review

Challenger banking brand Revolut has several digital current account plans to choose from, all with different price plans and features. In this review we take a look at the Revolut Premium package to see how it stacks up against the Standard ‘freemium’ experience.

The differences between Revolut Standard and Premium

Revolut (Standard)Revolut (Premium)
NameRevolut (Standard)Revolut (Premium)
Banking ServicesCurrent account, Free Euro IBAN account, Interbank FX rates, Free bank transfers in 25 currencies, £200 ATM withdrawals per month.Current account, Free Euro IBAN account, Interbank FX rates, Free bank transfers in 25 currencies, £200 ATM withdrawals per month.
CardsBlue/Pink MastercardPremium Revolut Card (choose from 3 colours)
FeesCard delivery: £4.99Subscription fees: £6.99 a month (or £72 in advance)
UK ATMsFree up to £200 a monthFree up to £400 a month
Foreign ATMsATM withdrawals up to £200 or currency equivalent per month are free. Anything charged over the above limits is charged at 2% of value of ATM withdrawal.ATM withdrawals up to £400 or currency equivalent per month are free. Anything charged over the above limits is charged at 2% of value of ATM withdrawal.
CurrenciesUSD, GBP, EUR, AUD, CAD, NZD, CHF, JPY, SEK, HKD, NOK, SGD, DKK and PLKUSD, GBP, EUR, AUD, CAD, NZD, CHF, JPY, SEK, HKD, NOK, SGD, DKK and PLK
Currency exchange RateThe interbank rate. The interbank rate is provided by financial exchanges and may be delayed as specified by financial exchanges or our data providers.The interbank rate. The interbank rate is provided by financial exchanges and may be delayed as specified by financial exchanges or our data providers.
CreditIt’s not possible to do an overdraft yet. Transactions will simply be declined.It’s not possible to do an overdraft yet. Transactions will simply be declined.
CryptoBTC, ETH, LTC
InsuranceFree overseas medical insurance
Contact number442033242000442033228352
Read our review Read our review

How can I cancel Revolut Premium?

If you’ve tried it and it isn’t for you, you can send a message to Revolut’s in-app support so they can help cancel your subscription.

If you started your Revolut Premium membership before 12/12/2017:

  • After your 1-month free trial period, your Revolut Premium membership has a 12-month duration. If you order a physical Revolut card during your 1-month trial and cancel your Premium membership during this time, a £10 delivery fee will be deducted from your Revolut account.
  • If you cancel after your 1-month free trial, the cancellation only becomes effective on the end date of your membership (exactly 13 months after you signed up). And unless you cancel your membership up to 1 month before the end of your 12 month contract, your membership is automatically renewed for another year.

If you started your Revolut Premium membership after 12/12/2017:

If you cancel your Revolut Premium membership within 14 days of upgrading, Revolut says:

  • If you have used any service exclusive to Premium, or Standard services at a level above that is provided free of charge to Standard users, we will issue you a partial refund based on your usage of the Premium services. So if you order a physical Revolut card and cancel your Premium membership, card and delivery fees of £10/€12, or currency equivalent will be deducted from your Revolut account before the Premium fee is refunded.
  • If you haven’t used any of the Premium services provided, no money will be deducted from your Revolut account.

If you cancel outside of the 14-day period:

  • If you are on the annual plan, we will cancel your automatic renewal for another year provided that you cancel via our in-app chat at least 1 month prior to the end of your 12-month contract. This means that you would be able to use your plan only until the end of your initial 1-year subscription period.
  • If you are on the monthly plan, you have the option for early termination at any time within the first 10 months. A £14/€16 fee will be deducted from your Revolut Premium account and your Premium membership will be cancelled. If you cancel in month 11, as you are inside the 1-month notice period you will receive your subscription for the remainder of your 12-month monthly plan. Your subscription will not be auto-renewed for the next year.

Pros and cons of Revolut Premium

Pros

  • Includes all the features you’d get with a Revolut Standard account.
  • Different card design and choice of three colours.
  • Higher free ATM withdrawal limit of £400 per month.
  • Lower cryptocurrency service fee of 1.5%.
  • Quick application and set-up process.
  • No credit check required.

Cons

  • If you’re not drawing out more cash or exchanging any cryptocurrency it’s probably not worth the subscription fee.
  • Revolut accounts are not covered by the Financial Services Compensation Scheme (FSCS).

Compare the differences between the different Revolut cards

Name Product Account fees UK ATM fees Overseas transaction fees Overseas ATM fees Incentive
£0
Free up to £200 per month
£0, currency conversion charge of 0%
Free up to £200 per month, currency conversion charge of 0% on weekdays up to £1,000 per month (excl. THB and UAH)
Enjoy one free international transfer each month plus exclusive discounts on top brands with Perks Plus.
£2.99
Free up to £200 per month
£0, currency conversion charge of 0%
Free up to £200 per month, currency conversion charge of 0% on weekdays up to £1,000 per month (excl. THB and UAH)
£6.99 per month
Free up to £400 per month
£0, currency conversion charge of 0%
Free up to £400 per month, currency conversion charge of 0% on weekdays up to £1,000 per month (excl. THB and UAH)
LoungeKey Pass access, unlimited free international transfers plus exclusive discounts on top brands with Perks Plus.
£12.99 per month
Free up to £800 per month
£0, currency conversion charge of 0%
Free up to £800 per month, currency conversion charge of 0% on weekdays up to £1,000 per month (excl. THB and UAH)
0.1% cashback, LoungeKey Pass access, unlimited free international transfers plus exclusive discounts on top brands with Perks Plus.
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Our verdict

The jury’s still out on the value of the Premium account. It’s hard to see where the value comes from unless you’re regularly transferring or withdrawing large sums of money, or buying and exchanging high volumes of cryptocurrency.

If you’re looking for a day-to-day option or a simple way to travel abroad and spend money cheaply, Revolut’s Standard account is probably better for you. Read our in-depth review on it to find out more.

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.

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23 Responses

    Default Gravatar
    SharonJune 4, 2019

    I am traveling to Mexico, can I use this card in Mexico?

      Avatarfinder Customer Care
      JhezJune 4, 2019Staff

      Hello Sharon,

      Thank you for your comment.

      Yes, you can use your Revolut card in Mexico. You can load card in GBP & spend there with the inter bank exchange rate.

      Regards,
      Jhezelyn

    Default Gravatar
    JamesMay 20, 2019

    How long does the premium card take to arrive once you upgrade from the basic account?

      Avatarfinder Customer Care
      CharisseMay 21, 2019Staff

      Hi James,

      Thanks for reaching out to Finder.

      Revolut cards are normally dispatched in the next working day after the order has been placed. Standard delivery time may take up to 9 working days and express delivery to the UK should take 3 business days.

      You can check the estimated time of your card arrival under the ‘Cards’ section of the Revolut app. Please note that these are estimated delivery times so specific delivery date is not guaranteed.

      I hope this helps.

      Cheers,
      Charisse

    Default Gravatar
    GaryMarch 26, 2019

    If I take out the premium card, how long will the medical insurance cover for I am planning a two-year trip to Thailand. Would I be covered?

      Avatarfinder Customer Care
      JhezMarch 27, 2019Staff

      Hello Gary,

      Thank you for your comment.

      The insurance starts as soon as you depart from your usual place of residence in your home country to commence a trip and have activated the policy. It finishes on the occurrence of whichever of the following events happens first:

      -When you return home at the end of the trip
      -At midnight on the end date shown in the most recent statement of insurance
      -When you downgrade to the Standard membership or close your Revolut account if you’re insured via Revolut Premium

      Regards,
      Jhezelyn

    Default Gravatar
    PeteDecember 23, 2018

    Why the monthly charges subscription for?

      Avatarfinder Customer Care
      JoshuaDecember 24, 2018Staff

      Hi Pete,

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

      Are you referring to the monthly subscription fee of Revolut premium? If yes, then it is charged to you so that Revolut could earn and continue running their business. If they don’t earn anything, they would soon go out of business and would not be able to serve you and other customers anymore.

      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
    EamonDecember 7, 2018

    I want to transfer some money out of my Belfast account (sterling) to my Rep of Ireland account(euro). I’m new to Revolut so how do I proceed with this.

      Avatarfinder Customer Care
      JoshuaDecember 12, 2018Staff

      Hi Eamon,

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

      If you want to make a bank to bank transfer, you don’t need Revolut to do that. You can directly request for the transfer to be made from your Belfast account to your Ireland account.

      Alternatively, if you wish to use Revolut, you would need to first transfer the money from your Belfast account to your Revolut and from Revolut, transfer it to your Ireland account.

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

      Have a wonderful day!

      Cheers,
      Joshua

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