Have you heard of theNeobank Revolut? It is often confused with a prepaid card, but in reality, Revolut is an online bank that can be used from smartphones and the web. Thus, with Revolit, you not only have a bank payment card, but also a multicurrency bank account, investment services and insurance policies. Find out where the Revolut bank is based and what it offers as features.
Where is this bank and how does it work?
Revolut Ltd is a British fintech company which, three years after its creation in 2018, has achieved unicorn status: i.e. it has been valued at more than $1 billion. Although this neobank has its main headquarters in the UK, its services are virtual and therefore offered in several countries around the world, including France. It is a state-of-the-art digital banking system that offers financial features and services from a mobile app.
To access the services, which are reserved for adult customers, it is necessary to download theMobile application Revolutavailable for Apple Watch, iPhone and iPad. The Revolut mobile app works on afreemium model: a free standard plan and Premium and Metal packages with higher ceilings and additional services. This model has enabled Revolut to reach 10 million users in 30 countries in Europe, Australia and Singapore in less than five years.
What are the different types of Revolut accounts?
The Neobank Revolut currently offers four types of bank accounts:
Revolut Standard Account (0 €/month)
The Revolut Standard is the free version of the Revolut online bank. It offers a free current account with IBAN, a physical and virtual prepaid card and free withdrawals at ATMs up to 200 € per month. Customers also benefit from the services of money transfers and free bank payments and zero commission on all transactions under several currencies abroad.
Revolut Plus Account (2.99 €/month)
The new Revolut Plus plan costs only 2,99 € per month. In addition to all the advantages of the standard plan, this type of bank account offers priority support on the Revolut app, trading features, cryptocurrency, expenditure analysis tools and budget management tools and open banking. It also includes the popular Revolut Junior feature, which allows parents and guardians to teach children how to manage their money through access to 2 Junior bank accounts.
Revolut Premium Account (7.99 €/month)
The Revolut Premium account plan adds up to 400 free withdrawals to the Revolut Standard services € per month and free global medical insurance. It also offers customers features such as free flight delay insurance, free disposable cards, TURBO transfers via the app, 20% discount smartphone insurance and access to 1,000 airport lounges.
Revolut Metal Account (13.99 €/month)
It's the all-inclusive solution of Revolut. The standard account conditions add a 1% metal cashback on card payments, dedicated support, unlimited exchange transactions and free withdrawals to ATMs up to 600 € per month.
With the metal plan, the customer also benefits from free global medical insurance, free flight delay insurance, free disposable cards, TURBO transfers, dedicated priority assistance and 20% discount smartphone insurance. The metal card offers the customer access to 1,000 airport lounges and free express delivery of the card in 180 countries and within 4 business days.
What to know on the Revolut card
The Revolut card is the prepaid credit card of the company of the same name, which is based on the Mastercard circuit and is associated with the application. This payment card is particularly suitable for frequent travellers.
How the Revolut card works
The Revolut credit card allows customers to make transactions in foreign currencies associated with the mobile app. The real-time exchange rate calculator of the application indicates to the map. The Revolut payment card offers customers the advantage of making credit card bank payments and withdrawals at ATMs in more than 140 Mastercard currencies.
This bank card supports Apple Pay and Google Pay wallets as well as NFC technology for point-of-sale contactless payments. It converts into the payment currency at the interbank exchange rate and selects the currency or cryptocurrency to be used for each specific payment.
How much does a Revolut credit card cost and how to activate it?
Revolut credit card activation is free as part of the standard application plan. If you choose the physical card and not the virtual card, you must pay the shipping and delivery costs of the cards. To activate, go to the section « Maps » application and choose the option « Physical » or « virtual ». The Revolut payment card is used via the app to make money transfers. The Revolut card reduces the foreign transaction costs of traditional credit card circuits.
How to charge your Revolut credit cards?
There are several ways to charge your Revolut credit card:
- By SEPA bank transfer to IBAN received at the time of activation;
- From another payment card via the application;
- By wage credit (employer SEPA transfer).
No matter how you pay to reload your cards or cards,Revolut bank accounts, there is no charge or amount limit.
Drafting opinion
Revolut, with its cards is the ideal online bank for the traveller. The focus on the map is a real innovation for those who want to travel without worries. Its versatility and services with 150 foreign currencies make it a truly unique tool, with payment plans justified by the services offered. On the other hand, if you don't like to travel and want to minimize your financial management fees, Revolut Standard is completely free and suitable for everyone.
Revolut is a UK online bank that offers several bank account plans and allows customers to manage their money more easily. Thanks to its cards, customers can also carry out banking operations in a more convenient way.