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Revolut

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Developer:
Version:
7.32
Revolut
Android iPhone - English
10/10

Revolut is one of the most famous online banking services and their app is very user-friendly. Also, the company applied for a UK banking license in January 2021.

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992
Registration date
Wednesday November 4, 2020
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Administrator
Last seen
June 20, 2021

Revolut is a financial technology company that offers online banking services such as currency exchange (including cryptocurrency), peer-to-peer payments, stock trading, and physical debit cards. Revolut was founded in 2015 and has been expanding ever since because of their no-hidden fees policy and the possibility of a free Standard account, among other reasons. In January 2021, Revolut applied for a UK banking license.

Revolut Key Features

Revolut’s services include the following key features:

  • Personal, Business, and Junior accounts: widely known for its personal use, you can also create a Revolut account for your kid (called Junior account), as well as a Revolut Business account.
  • Budgeting: this includes classic banking services such as setting up a monthly budget, instant payment notifications, monitoring your monthly expenses by category.
  • Money transfer: schedule recurring payments, transfer money abroad with the real exchange rate, send and request money easily.
  • Cryptocurrencies: this feature offers you an instant exposure to Bitcoin, Litecoin, Ethereum but also to buy, hold and/or sell cryptocurrencies.
  • Security Policy: you can use disposable virtual cards, freeze and unfreeze your card if needed, turn off and on e-commerce and swipe payments.

Revolut Stock Trading

Stock trading (that is, buying and selling stocks) with Revolut is possible. It is commission-free within one's monthly allowance and it is possible to get started for $1. This means you can buy and sell Instruments and that Revolut transmits those orders to a third-party broker app. However, Revolut states on their website that neither their website or app should be regarded as a solicitation, promotion or advertisement of this feature. In fact, Revolut recommends taking knowledge of your rights and the risks related to trading before getting into the feature.

Is Revolut Safe?

Revolut is considered safe and has over 12 million customers. It is authorized by the Financial Conduct Authority (FCA). Also, clients’ funds are kept in separate accounts from their global banking partners, according to their website, meaning that in case of bankruptcybankrupt, the clients’ money is protected. However, it is not covered by the Financial Services Compensation Scheme, according to Monito.

Revolut Services Pricing

Revolut offers four banking services plans: Standard (free), Plus (€2.99/month), Premium (€7.99/month), and Metal (€13.99/month).

Is Revolut Free?

You can download and use this app for free, and there is also a version for iPhone.

Sources: Evening Standard/Monito
Images: Unsplash/Google Play

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