Revolut

Revolut: global digital banking headquartered in London

Revolut is a digital financial institution operating on a branchless banking model. Its offering focuses on everyday money management, international payments, and access to savings and investment products from a mobile app. The company reports over 80 million personal customers worldwide and 800,000 business customers, with a presence in more than 160 countries and regions. In the UK, it has 13 million customers.

The company structures its offering into several subscription plans, from a free standard account to paid plans with additional benefits. Services are contracted and managed entirely through the app, with no need to visit physical offices.

Accounts and everyday management

Revolut offers personal and business accounts, including joint accounts and professional accounts. Users can receive their salary, automatically organise their income, make payments and transfers, and track their spending from the app. The institution allows holding up to 36 currencies in the app and spending in more than 150 currencies. Cards, both physical and virtual, can be created and added to digital wallets such as Apple Wallet or Google Wallet for immediate use.

International transfers and currency exchange

One of the pillars of Revolut's offering is sending money abroad. The company allows transferring funds to more than 160 countries and offers currency conversion. Its website details frequent corridors such as India, Nigeria, Poland, Ghana, Dubai, Saudi Arabia, North Macedonia, and Kazakhstan, among others. It also provides a currency converter for pairs such as GBP/INR, USD/GBP, GBP/EUR, GBP/PKR, GBP/TRY, GBP/HKD, KRW/GBP, AED/GBP, INR/GBP, and GBP/CAD.

Savings, investments, and other financial products

The institution offers an instant access savings account with interest paid daily. According to the information on the site, the rate shown reaches up to 4% AER (variable) for the Ultra plan, with different rates depending on the plan taken out. Interest is compounded and is subject to applicable taxes.

In the investment area, Revolut offers access to more than 5,000 stocks and ETFs, with commission-free trades within a monthly allowance and subsequent fees that vary according to the customer's plan. The company warns that capital is at risk and that it does not provide investment advice. Investment services are provided by Revolut Trading Ltd, an entity authorised and regulated by the Financial Conduct Authority.

Other products include a points programme (RevPoints) redeemable for airline miles and rewards, as well as a personal assistant based on artificial intelligence called AIR, available 24/7 in the app.

Plans and pricing

Revolut structures its offering into five subscription tiers. The Standard plan is free and covers the basic financial management functions. The Plus plan costs £3.99 per month and adds better limits for spending abroad and purchase insurance. The Premium plan costs £7.99 per month and includes exclusive subscriptions, better savings rates, and unlimited currency exchange. The Metal plan, at £14.99 per month, is aimed at travellers and traders, with travel insurance, improved limits, and subscriptions valued at £2,200 per year. The Ultra plan, the most comprehensive, costs £55 per month and includes unlimited access to airport VIP lounges, monthly global data, subscriptions to associated services, and cancellation cover.

Security and protection

The company offers a service called Revolut Secure, which it describes as a proactive account protection system, with specific defences and a team of specialists available 24/7. The app also allows reporting the loss of the device and accessing information about fraud and scams.

Corporate structure and regulation

Revolut Bank UK Ltd is the group's banking entity in the UK, registered in England and Wales with number 12871051 and registered office at 30 South Colonnade, London, E14 5HX. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 981170).

Revolut Ltd, registered with number 08804411, is authorised by the Financial Conduct Authority to provide electronic money and payment services under the 2011 regulations (FRN: 900562), and is also registered for cryptocurrency services. Commodities services are provided by Revolut Ltd and are not regulated by the FCA. Investment services are provided by Revolut Trading Ltd (No. 11567840), authorised and regulated by the FCA (FRN: 933846).

The group employs more than 10,000 people worldwide and has been certified as a Great Place to Work in 14 countries. Its board of directors is chaired by Martin Gilbert, co-founder of Aberdeen Asset Management in 1983 and head of the company for 34 years, including its merger with Standard Life in 2017.

Location and contact

30 South Colonnade, London, E14 5HX