- Very few negotiable shares.
- It is not possible to send and receive cryptocurrency.
- Telephone customer service is not available.
- ATM withdrawals subject to restrictions
- Large range of financial services and products.
- App for mobile devices that is easy to use
- Low cost.
- Trading platform for beginners.
Reviews and opinions about Revolut checking and trading accounts.
It is now widely known that the future is online for the banking industry. It’s possible to perform financial transactions from any device, including our smartphones or computers, today thanks to home banking. Banks that are only available online have been growing in popularity over the years.
One of the most innovative, functional and important online institutions is Revolut.
Revolut LTD. is an UK-based financial firm founded in 2015. The Revolut app boasts over 14 million private customers, and over 500,000 businesses customers.
These accounts offer many benefits over traditional accounts, including in terms management and/or administrative expenses: commissions which “normal” banks cannot match.
Revolut App is an excellent choice when it comes to the services and functions it offers.
- Currency exchange, a tool that converts GBP into more than 150 other currencies
- Purchase shares with commissions starting as low as 1 GBP
- Trade and holding cryptocurrencies
- The Vaults
- Insurance products
Overall Rating: 4.5/5
Online banking and security should be closely connected. Many accounts have been breached by ransomware or phishing attacks over the past few years. These attacks were caused by vulnerabilities in protection systems at banks and/or incorrect actions of account holders.
Revolut is a company that employs over 2000 people. It has a dedicated team to security. They work every day to improve protection services like:
- Fingerprint identification required to access account and confirm operations
- Sherlock anti-fraud security system sends real-time alerts about fraudulent activities through localization systems. If Revolut perceives suspicious activities (e.g. If Revolut detects suspicious activity (e.g., your smartphone’s location indicates London but you make a payment in Bristol), it blocks it immediately and notifies the customer
- Disposable virtual cards can be created and personalized features added for withdrawals, spending limits and swipe payments online.
Types of Account
Revolut offers four kinds of checking accounts, each offering different features.
The Standard Account, which is the basic version for the Revolut account, is available. It is free and allows for bank transfers at zero commissions. Also, you can exchange pounds to foreign currency at the best exchange rates without paying commissions (upto PS1,000 per month; above that threshold, a commission is charged of 0.50%).
The Standard Account offers the option to purchase a prepaid card digital that can be used online or in-store. You can also withdraw up to PS200 each month from any ATM for no additional charge (beyond that amount, a commission of 2% is charged).
You can also trade stocks with the Standard Account (the first three months are free) as well as cryptocurrencies.
The Plus account is the first upgrade to the Standard Account. The Plus Account has a monthly cost of PS2.99 and offers additional services to the Standard account.
It provides 24/7 priority assistance, refunds of upto PS1,000 for tickets to events, as well as refunds for items up to PS1,000 if the product is stolen or damaged. You also have the option to get your money back if the retailer refuses to accept returns (coverage between PS50-PS300).
Delivery of debit cards is free. It is also possible to trade stocks as well as cryptocurrencies. Conversions of fiat currencies into cryptocurrencies are subject to 2.5% commission.
The Premium Account costs PS6.99 per month and offers, in addition to the other features of the Standard and Plus accounts, the ability to request two debit card.
You can use these cards to make online and in-store purchase, as well withdraw up PS400 per monthly for free (beyond the amount, a 2% Commission is applied).
The Premium account allows you to create disposable credit cards that can be used for online purchases. A Premium account is also able to trade cryptocurrencies. This unique feature makes it the best of its kind.
Other services include customer service priority, international medical insurance, assistance for flight delays and cancellations, and an airport lounge card. 8 trades per month are available for stock trading.
The Metal Account upgrade is the most expensive option for the Revolut accounts. The monthly fee is PS12.99. You can also request three debit cards.
- Shop online or in store
- Free monthly withdrawals up to PS800 (beyond that amount, a 2% Commission is applied).
- To make it easier to book flights, hotels and other events, consult a concierge
- The Metal Cashback allows you to receive a 0.1% refund on all purchases made in Europe, with a maximum of 1.1% for any payments outside of the EU.
Trading transactions in stock trading are free of commissions.
Revolut Blog has been launched to provide learning opportunities. This informative portal contains informational articles about finance. Revolut Academy is also available. This section is dedicated to education, both for Revolut users and those not using Revolut. It includes a range of topics related to finance, IT security and cryptography.
This review concludes that Revolut has met all expectations. Revolut today is an alternative to traditional accounts. It’s also superior in many ways, particularly in modernity, security, and other aspects.
Revolut can be used to manage your own money, as well managing your equity, crypto and currency investment portfolios.
Revolut’s user-friendly interface makes it easy for novice and expert users to manage their financial assets. Revolut allows investors and savers to create an online account.
Read another review about the Plus500.