Revolut Review: Multi-Currency Banking Done Right
Revolut has 70 million+ users for a reason: fee-free international spending, interbank exchange rates, and crypto all in one app. Here's the full picture.
What is Revolut?
Revolut is a digital banking app offering multi-currency accounts, fee-free international spending, and in-app access to crypto, stocks and commodities. Launched in 2015, it's become a go-to for frequent travellers and anyone tired of hidden FX fees from traditional banks, now serving over 70 million customers across dozens of countries.
Revolut plans & fees
| Plan | Monthly cost | FX allowance | Key perks |
|---|---|---|---|
| Standard | Free | Interbank rate up to a monthly limit | Multi-currency account, basic card |
| Plus | Low (varies by region) | Higher limit | Purchase protection, priority support |
| Premium | Mid-tier | Unlimited fair-use FX | Travel insurance, metal card, airport lounge passes |
| Metal | Highest | Unlimited fair-use FX | Cashback, concierge, premium metal card |
Beyond the monthly plan fee, out-of-hours or weekend currency exchange can incur a small markup (typically ~1%), and ATM withdrawals beyond your free monthly allowance are charged a percentage fee. Crypto and stock trading carry their own separate fee schedules within the app.
How to sign up for Revolut
- Download the app and register with your phone number and email — using a referral link can unlock a sign-up bonus for both parties.
- Verify your identity — a quick in-app ID scan and selfie check, usually completed in minutes.
- Order your card — a virtual card is available instantly in-app; a physical card can be ordered for a small fee or included free depending on your plan.
- Top up your account — via bank transfer, debit/credit card, or Apple Pay/Google Pay depending on your region.
- Set up budgeting and savings vaults — optional, but useful for automatically rounding up spending into savings.
Pros & Cons
Pros
- Multi-currency accounts and cards
- Fee-free international spending at interbank rates
- Crypto, stocks and commodities accessible in-app
- Referral reward for both parties on sign-up
- Instant virtual card, useful budgeting tools
Cons
- Free tier has withdrawal and exchange limits
- Premium features require a paid plan
- Customer support is primarily in-app chat
- Weekend FX markup applies on the free plan
Who it's for
Revolut is excellent for frequent travellers, remote workers paid in multiple currencies, or anyone who wants a single app for spending, saving, and light investing abroad. If you need a traditional full-service bank with branches and mortgages, you'll still want a conventional bank account alongside it.
Frequently asked questions
Is Revolut a real bank?
Revolut operates as an electronic money institution or licensed bank depending on your region, and deposits are typically safeguarded or covered by deposit protection schemes where applicable. Check your country's specific terms.
Does Revolut charge fees?
Revolut's free tier covers everyday spending and FX at interbank rates up to a monthly limit. Beyond that, or for premium features like higher withdrawal limits and insurance, you'll need a paid plan.
Can I buy crypto and stocks on Revolut?
Yes, Revolut offers in-app access to buy and hold crypto, stocks and commodities alongside its core banking features, though product availability varies by country.
Which Revolut plan should I pick?
The free Standard plan is enough for most casual users and travellers. Frequent flyers or heavy FX users often find the Premium or Metal plans pay for themselves through travel insurance and unlimited fair-use exchange.
Is my money safe with Revolut?
Revolut safeguards customer funds separately from its own operating capital as required by its licenses, and in some regions deposits are covered by statutory deposit protection schemes — check the specific terms for your country.