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Revolut Premium review
Compare the Revolut Premium e-money account against Revolut Standard, to help you decide if it's worth the monthly fee.
Challenger banking brand Revolut has several digital e-money 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.
Compare the differences between the different Revolut cards
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What is Revolut Premium?
Premium is Revolut’s middle-tier plan. It’s not as pricey as Metal or Ultra, but it has more features and higher limits than the Standard or Plus plans.
Priced at £7.99 per month, it sits in the centre of Revolut’s other plans. Added benefits compared to the Standard or Plus include in-app chat customer support, discounts on international transfer fees, higher limits for fee-free withdrawals and more.
How does Revolut Premium work?
Revolut Premium works the same as Revolut’s other account plans. It has all the features of the Revolut Standard e-money account, plus some extras:
- 20% discount on international transfer fees.
- £400 of free ATM withdrawals per month.
- 2 Revolut <18 accounts with full access (for your children).
- Travel benefits including insurance, cashback on accommodation and discounted airport lounge access.
- No fair usage limit on fee free currency exchange.
- Savings Vaults at 3.00% AER interest.
- Personalised payments cards.
- Purchase protection up to £2,500 if your new purchase is accidentally damaged or stolen in the first year.
- 5 commission free stock trades every month.
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).
Bottom line
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. You can get started by visiting Revolut's website and downloading the app.
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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I am traveling to Mexico, can I use this card in Mexico?
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
How long does the premium card take to arrive once you upgrade from the basic account?
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
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?
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
Why the monthly charges subscription for?
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
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.
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