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
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
- 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.
- 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).
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.
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