Finder rating
★★★★★
★★★★★
Expert analysis
Customer rating
★★★★★
★★★★★
Satisfaction survey
Fee-free spending in 150+ currencies
Weekend mark-up on spending abroad
Revolut review: The digital bank for travellers
Get our expert view on the Revolut app, card and account options available in the UK.
Revolut is a digital-only banking app and offers several accounts, including premium options. It sets itself apart from traditional banks with a focus on technology, low fees, flexibility and extra features like its share trading and crypto sections within the app. It’s especially aimed at those who travel a lot, with no or low fees for spending abroad and international money transfers.
Compare Revolut accounts
What is Revolut?
Launched in 2015, Revolut has more than 16 million customers worldwide, who make more than 150 million transactions a month.
Opening a “Standard” free account with Revolut (which we’re reviewing here) will give you a UK current account, a Euro IBAN account, and a blue-ish, pink-ish payments card.
As well as all the usual things you can do with a current account, like send money to friends and withdraw money from an ATM, you can use an impressive range of other features, including free or low-cost international money transfers and global spending, plus access to cryptocurrency exchange.
If you’re a small business you can read our Revolut Business review to find out more about that account, and if you’re looking for banking app for your child you should read our Revolut Junior review.
How to sign up to Revolut
- Download the Revolut app from the App store or Google Play Store.
- Provide and verify your phone number.
- Provide your name, email address, home address & date of birth.
- Verify your identity through the app with a passport or ID card.
- Once approved you should receive your card within 9 working days.
- Before the physical card arrives, you can set up the app to use Google Pay or Apple Pay.
- Start spending using your Revolut account.
What can you do with Revolut?
Once you’ve decided that Revolut is for you, signing up is simple. You just need to download the app and register – you won’t need a proof of address and there are no credit checks, which speeds up the process.
However, you will need to verify your identity by taking a picture of both yourself and a valid ID document. After you sign up, you can request a contactless Revolut card.
The app is simple, easy to navigate and streamlined. With Revolut you can:
- Use it as a UK current account. You get a UK account number and sort code. You can set up recurring payments, withdraw cash at ATMs, make contactless payments, and use Apple Pay and Google Pay.
- Make international payments. The app enables you to transfer money in 30 currencies, fee-free, at the interbank exchange rate (the same rate that banks give each other).
- Spend globally fee-free (on weekdays). All card spending abroad on weekdays is charged at the interbank rate, which is as good as it gets for consumers.
- Hold different currencies. You can hold a balance on the app in 30 currencies.
- Pay friends. Pay other people with ease or use the split bill feature to divide a group spend (more on Group Bills below).
- View spending habits. Using analytics, you can see your spending, categorised by type of transaction, by merchant or by country.
- Freeze your card and set spending limits. Freeze a card if you lose it, unfreeze it if you find it, set monthly spending limits and enable additional security.
- Save money. Put money aside through regular payments or round up your spare change with Revolut’s Vaults. You can also set up a Group Vault with your friends and family and save for a common goal, such as a holiday.
- Add device insurance and travel insurance. At the touch of a button, you pay by the day.
- Buy cryptocurrency. We explain more about crypto below.
How does the app look?
Real-time info
Even contactless payments show up instantly in the app.
Visualise your spending
See exactly how much you have left to spend and see your transactions broken into categories.
Split the bill
Split a bill with anyone from your phone contacts. Divide it up evenly or choose specific amounts.
Freeze your card if it gets lost
If your card is lost or stolen, you can temporarily freeze the card in the app and stop anyone using it.
Revolut fees, limits and pricing
Revolut has four tiers: Standard, Plus, Premium and Metal. This review covers the Standard offering, which is free. We’ve also reviewed Premium (which costs £6.99 a month) and Metal (£12.99 a month) – they both essentially offer more features and benefits in return for paying a monthly fee. Revolut’s latest tier is Revolut Plus which comes in at £2.99 a month.
The Standard Revolut account comes with a few fees:
- Weekend markup on all foreign exchanges. If you make a currency exchange during the weekend (including card spending and ATM withdrawals), you’ll be charged a markup. That’s because the interbank rate is always fluctuating and may not be the same on a Monday as it was on the previous Friday. The Revolut markup is 0.5% for major currencies and 1% for other currencies.
- Bank transfers. You get free money transfers to any UK account, as well as other Revolut accounts worldwide, plus its free to transfer euros to any account in the SEPA region. Fees for all other transfers depend on the currencies involved and can range from 30p to £5.
- Withdrawals. You can make free ATM withdrawals up to a total of £200 per month (and across a maximum of 5 withdrawals), either in the UK or abroad. After this limit, there is a 2% fee.
- No overdraft. You cannot go into the red with a Revolut account, so there are no overdraft fees. If a purchase exceeds your available funds the transaction will be declined.
- Card delivery. This is £4.99 with standard subscription.
A bit more on the weekend markup: keep in mind that overseas card payments, international ATM withdrawals and money transfers sent abroad all imply a currency exchange, so the weekend markup applies in all these cases. There’s an easy way around it though: if you know you’ll be travelling or sending money abroad over the weekend, exchange the currency in advance on a weekday and you’ll avoid the fee. This will be possible with all the 30 currencies that Revolut lets you hold.
And a note on “fair usage”: Revolut’s free Standard account comes with a fair usage limit of £1,000 per month for currency exchange transactions – which again applies to overseas card payments, international ATM withdrawals and money transfers sent abroad. After that, a 0.5% fee applies (in addition to any 0.5% weekend markup).
Using Revolut abroad
One of Revolut’s most appealing features is that it lets you spend fee-free (on weekdays) at the interbank exchange rate in 150 currencies.
When you’re spending abroad, you typically get hit with transaction fees or hidden charges. That’s because most financial institutions will either charge you extra fees to use your card abroad, or they change money at a less competitive rate, or both.
Revolut doesn’t do that, which is why it’s popular with those who have a global lifestyle. Using it abroad is much like using it in the UK. However, don’t forget the weekend markup and the £1,000 per month free limit on currency exchanges (both outlined above), plus the fact that free ATM withdrawals are limited to £200 a month – after which you’ll be charged a 2% fee, whether you’re in the UK or abroad.
What is Revolut’s auto-exchange?
The app lets you switch from, say, sterling to euros with a couple of taps – and it does the exchange automatically for you. If you’re planning to go abroad, there’s a useful feature that tracks a rate for you to watch for a drop in your favour; use the app to select the currency you’re interested in changing your money into, and set a target exchange rate. When it’s reached, Revolut will convert your money. If you use it correctly, you can get better value on your funds without making much effort.
You can also do it with cryptocurrencies (a subject we cover in more detail below). The only limitation Revolut imposes is that if the market is especially volatile, it’ll stop the conversion – it can move a maximum 0.75% over or below the target for regular currencies, and 5% for cryptocurrencies.
When will my Revolut card be delivered and what are the design options?
After you’ve signed up for an account on your phone, your Revolut card should be dispatched the next working day. Standard delivery can take up to 9 working days, while express delivery to the UK, US and Canada will get you your card in 2 working days. For all other countries, express delivery should take 3 business days. Customers are warned, though, that these are estimated delivery times and it may take longer. UK card delivery starts from £4.99.
The card that comes with the free Revolut Standard account is a blue and pink colour mix. There are different colours available with the other paid-for accounts, and the Revolut Metal account comes with, unsurprisingly, a metal card.
Whichever Revolut account you have, there is now also the option of designing your own personalised card. Card holders can create a design of their choice via the app, using images, text, emojis and even freehand sketches. The designs are then laser engraved on the metal cards or printed on the cards for other plans. The additional cost for a personalised card starts at £2.99.
How to top up with Revolut
Linking your main bank account with your Revolut card lets you top up instantly. In the app, do the following:
- The first time you top up you have to link a main bank account with your Revolut card. Go into the app and put in your 16-digit card number, expiry date, CVC code, and billing postcode.
- Make sure the address is correct otherwise the payment might fail to go through.
- Press the “+” symbol in the top left corner of the accounts screen.
- Add the card you want to top up from, and choose the amount you want to add into your Revolut account.
- Tap top up and the money will go into your account instantly.
Another top-up option Revolut offers is the automatic top-up feature. With this, you get the app to automatically top up your Revolut account from your main card if it drops below a certain amount.
What are Revolut Savings Vaults?
Revolut operates a system of “Vaults”, which are essentially pots where you can put money aside. You can open a standard Vault and top it up through regular payments, or by rounding up your spare change from transactions and automatically adding it to your Vault. You can also set up a “Group Vault” with your friends and family and save for a common goal, such as a holiday.
“Savings Vaults” are one of the brand’s latest launches. These are interest-earning deposits you place with banks via the Revolut app. Unlike Revolut accounts themselves, Savings Vaults are covered by the FSCS scheme because these savings pots are held at licensed banks, even though they are managed through the Revolut app (more on Revolut and the FSCS scheme can be found below). Savings Vaults are currently available in GBP to all customers whose sole tax residency is the UK.
What is Revolut’s Group Bills feature?
One of Revolut’s newer features is its “Group Bills” tool. It makes it easier for Revolut users to manage group expenses – whether that’s splitting the bill with housemates for a pizza takeaway or settling up the spending on a group holiday.
Revolut customers can create and customise a Group with a name and photo, and then invite friends and family to join. It works for between 2 and 20 people, although you’ll all have to be Revolut account holders.
You add a bill to the Group on the banking app, tell Revolut how you want to split it, then it makes the calculations and sends out a notification to everyone requesting their individual payments.
What is Revolut’s virtual card?
The virtual card is for making online transactions – buying stuff from ASOS, setting up a Netflix subscription, ordering from Deliveroo, and things like that. It can’t be used for recurring payments like paying rent (though you can still set up recurring payments in the app). So what’s the point of it this card? Can’t you just use your physical card for everything?
Well, the idea is that it’s safer. You can freeze your virtual card, and set monthly spending limits to keep within your budget. On top of this, you can delete the virtual card every few months, making it harder for fraudsters to steal your details and clone your card.
To use it, head to the “Cards” section in your app and scroll to your virtual card. Use the displayed card number and CVV at checkout.
However, Revolut’s real show pony is its “disposable” virtual card. They’re only available to Premium users, though. After every online transaction Revolut deletes your virtual card and gives you a new one. Revolut says this has reduced fraud by 30%.
Is Revolut safe?
Despite not being a bank yet, Revolut is regulated by the FCA. The company is licensed as an institution that deals in electronic money and has to hold all client funds in a “segregated account” at a licensed UK bank. This means that users’ money is kept separate from Revolut’s finances and that Revolut cannot invest it. So, even if something were to happen to Revolut as a company, your money couldn’t be used to pay off its debts.
However, until it officially becomes a bank, funds held with Revolut aren’t covered by the FSCS (Financial Services Compensation Scheme), which protects deposits up to a maximum of £85,000 in the event a bank goes bust. The exception to this is Revolut’s “Saving Vaults” – even though these interest-earning savings pots are managed through the Revolut app, the customer funds themselves are deposited at licensed UK banks which have partnered with Revolut to provide savings products.
When it comes to security, Revolut’s smartphone app is protected by a password or fingerprint ID. You can also immediately freeze or unfreeze your card in the app if it’s been misplaced, lost or stolen. Further control can be added by turning online, ATM and contactless payments on or off.
| Live chat support | 24/7 live chat support available in the app |
|---|---|
| Telephone support | Only available to block your card: 020 3322 8352 |
| Email support | For complaints, email formalcomplaints@revolut.com (and for all other issues use the in-app live chat) |
| Touch login | |
| Face ID | |
| Voice ID | |
| Closing your account | Go through the app to close your account |
| Order replacement card | Order in the app, estimated delivery date given when card order is placed, cost is £5 for the card plus a £4.99 delivery fee |
| Freeze card from app or online banking | |
| Report card lost or stolen | Yes, through the app or by calling: 020 3322 8352 |
| Cancel direct debits | Cancel direct debits in the app |
Revolut customer reviews
Revolut came fifteenth in our independent 2021 customer satisfaction awards, with 3.5 out of 5 stars and 69% of users saying they would recommend the service. The ability to spend abroad with no added fees was a particular favourite with customers.
What is Revolut cryptocurrency?
When it comes to cryptocurrencies, Revolut stands out from its competitors. In 2017, it became the first challenger banking brand to let customers buy cryptos in its app.
What’s more, it’s incredibly easy for anyone to buy cryptocurrencies like Bitcoin with Revolut. Revolut’s aim is to make them accessible, so you don’t have to be a tech whizz to get your hands on them.
- Cryptocurrencies. Customers have access to many different cryptocurrencies, including popular ones such as Bitcoin, Litecoin, Ethereum, Bitcoin Cash and XRP.
- Exchanges. Exchange one of the base currencies in the app for one of the crypto options. So, change pounds into XRP, or change euros into Bitcoin. The choice is yours.
- Real-time rates. Real-time cryptocurrency graphs show you current rates. Plus set up price alerts to hear when your cryptocurrency hits a certain value.
- Fees. Revolut charges a 2.5% markup on cryptocurrency transactions for Standard and Plus users (and 1.5% for Premium and Metal users). Revolut says it gives the best possible exchange rates, but it could still be worth taking a look at other options if you’re seeking to delve into cryptocurrencies.
- Send to friends. Transfer cryptocurrencies to other Revolut users if you want to.
- Risks. Revolut does warn that the value of cryptocurrencies can rapidly increase or decrease at any time, so you the customer are at risk. As well as gains, you could make some serious losses. Unlike the rest of Revolut’s services, cryptocurrencies are not regulated by the FCA.
- Cryptocurrency services aren’t regulated in the UK – there’s no consumer protection. Your capital is at risk.
What is Revolut Essentials?
In July 2020, Revolut rolled out a new price comparison service for utilities and homes services, exclusively for its banking customers.
Called “Revolut Essentials”, the new offering means that account holders can compare and switch their gas, electricity, broadband, TV or mobile phone provider directly through their Revolut banking app.
Revolut says there are a range of suppliers and exclusive deals available, and that the service means their customers “can now get great deals on their energy bills, easily and quickly, with just a few clicks”.
To unlock the Essentials feature, UK banking customers just need make sure their Revolut app is updated to the latest version, then they can start exploring and using the service.
What is Revolut Stays?
New for summer 2021, “Revolut Stays” is a tool where account holders can search for and book holidays to a wide range of destinations through Revolut, with no booking fees.
The idea is that you can then take advantage of Revolut’s competitive card spending fees for your purchases when you get to your overseas idyll – with Premium and Metal account holders also getting an extra 10% cashback on their holiday spend.
Premium and Metal customers also get travel insurance and discounted airport lounge passes included in their subscription plans, while Standard and Plus account holders have the option of booking pay-per-day travel insurance with Revolut as well.
Pros and cons of Revolut
Pros
- Free multicurrency current account, you can hold up to 30 different currencies.
- Quick to apply for and set up, no credit checks.
- Use the card abroad with no or few fees.
- User-friendly app with control over accounts and cards, spending control visualisation and a lot of great features.
- International money transfers at the interbank exchange rate (and free to other Revolut accounts).
- You can put money aside in a Vault and set a spending goal for it. Group Vaults are also available.
- 24-hour customer service, via the app.
- You can buy travel insurance directly from the app.
Cons
- At weekends, when the markets are closed, Revolut applies an exchange rate markup of 0.5% on major currencies and 1% on other currencies.
- Free cash withdrawals are limited to £200 a month.
- No other banking products available, such as overdrafts or credit cards.
- No branches, which can put off those who prefer face-to-face customer service.
Our verdict
Revolut is really good for travelling. If you’re planning a holiday, or travel often for work, you can easily move the cash you need to your Revolut account, and no worry about paying too many extra fees.
Fee-free spending abroad isn’t as unique as it used to be though. Other challengers, such as Starling and Monzo, also offer fee-free card payments abroad, and unlike Revolut, these providers also have a full UK banking licence.
But if you’re looking for a range of features, then Revolut is tough to beat – you won’t find the international options, cryptocurrencies, share trading or auto-exchange in the same place pretty much anywhere else. If you need a combination of those features, Revolut is probably your best bet. Get started by visiting Revolut's website and downloading the app.
Frequently asked questions
Banking ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
The customer satisfaction score ("You say") is based on a survey of 2,282 customers carried out in December 2021.Learn the details of our methodology and scoring.
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.
- Financial Services Compensation Scheme
- Finder Banking Customer Satisfaction Awards 2021
More guides on Finder
-
Invest in graphene stocks
Graphene stocks can be rewarding, but there are risks involved that could impact your profits.
-
Invest in blue chip stocks
Blue chip stocks can be rewarding, but there are risks involved that could impact your profits.
-
Top ethical credit cards
Learn more about how ethical credit cards work and whether they are right for you.
-
Junior SIPPs
The guide discuses the pros and cons of junior SIPPs, and why kick-starting your child’s pension early can reap substantial rewards.
-
Pensions for self-employed individuals
If you’re self-employed, paying into a private pension is a great way to save for retirement, thanks to the tax benefits.
-
State pension vs private pension
The state pension and private pensions are separate but complementary ways to save for retirement.
-
SIPPs vs personal pension
The main differences between SIPPs and standard personal pensions are investment choice and price.
-
SIPP withdrawal rules
We outline your SIPP withdrawal options and whether you should opt for an annuity, flexible drawdown or take your whole pot in 1 go.
-
What is day trading?
We examine the pros and cons, and who day trading is (and often isn’t) right for.
-
How does retiring or moving abroad affect my pension?
In this guide we explain everything you need to know about how retiring abroad affects your state pension and private pensions.
Ask an Expert
Does using Revolut help build your credit score?
Hi Hippo,
Thanks for your comment and I hope you are doing well.
To answer your question if Revolut helps build your credit score, as Revolut doesn’t do any credit checks it also doesn’t report to credit bureaus. Therefore, Revolut doesn’t help build your credit score not does it impact your credit score.
Hope this helps and feel free to reach out to us again for further assistance.
Best,
Nikki
Can I use Revolut Card in Israel?
Hi Nesta,
Thanks for contacting Finder.
I’m afraid Revolut is currently only supporting legal residents in the European Economic Area (EEA), Switzerland, and Australia. The EEA includes:
Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom.
I hope this helps.
Kind Regards,
Faye
Do you get charged for not using your Revolut card and if you cancel your Revolut account?
Hi Kaz,
Thanks for reaching out to Finder.
Revolut does not charge any fee for closing a standard account and for keeping it open if it is not in use.
If you wish to close your Revolut standard account, you can speak with a Revolut agent who can assist you with the process. Before closing your account, you will first need to withdraw all currency balances and make sure you do not have any pending transactions (payments, transfers).
Please also note that, all Revolut cards linked to your account will be terminated and you won’t be able to link them to another account or use it again.
I hope this helps.
Cheers,
Charisse
I would like to use my Revolut Card for Garmin Pay which says it does support it, however, every time I load my card details it is declined saying that it doesn’t yet subscribe to Garmin, try again later. I don’t want to change to the Starling Card but want to find out why this is not working?
Hi Jo,
Thank you for getting in touch with Finder.
Sorry to hear your trouble on using Garmin Pay with your Revolut card.
Upon checking Garmin Pay’s official page, it states that Revolut Mastercard supports Garmin Pay. Since we do not have access to their system to check this, I suggest that you get in touch with Revolut via their in-app chat support service to get further info on this matter.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
My son is travelling to south Africa shortly, he has a revolut card with the visa logo, will he be able to use this card widely for purchases and money withdrawals or is he likely to encounter problems without the MasterCard logo.
Hi Susan,
Thanks for your enquiry.
Visa and Mastercard can be used online, as well as virtually anywhere in the world that accepts card payments. It’s very rare to find a location where one is accepted but not the other.
Hope that helps.
Regards,
Ellie