This Revolut review is intended to explain the pros and cons of using it for your money transfer needs. We focus on the important aspects like fees, exchange rates, the quality of the trading platform, and the overall level of service provided. To view other companies like Revolut, check our best money transfer companies list.
|International Clients||UK, EEA Countries, Switzerland and Australia|
29 currencies supported for bank transfer.
140 currencies are available with card payments and cash withdrawals, wherever mastercard and visa are supported.
|Minimum Transfer||No minimum but a maximum single payment limit of £80k.|
|Trading via||Online Platform or App|
|Offices In||Australia, Brazil, Canada, France, Germany, India, Ireland, Japan, Lithuania, Poland, Portugal, Russia, Singapore, Spain, Taiwan, UK, US|
|Fees||No fixed fees. 0.5% margin fee on anything over €6,000 per month|
|Promotional Code||No sign up promotions but promotions available for referrals as well as unlocking partner promotions via spending with your revolut card.|
|Client Reviews||22,537 reviews on TrustPilot, 266,511 reviews via App store, 423,958 via Google Play|
|Client Rating||8.9/10 TrustPilot, 4.9/5 App Store, 4.9/5 Google Play|
Currency conversion at the interbank exchange rate
Easy to use App to manage balances and make payments
Excellent client reviews
Easy to sign up with card delivered to your door
Strong entrepreneurs with banking background
Transparent exchange rates
24/7 Customer Service
Instant exchange of 29 cryptocurrencies (not FCA regulated)
Instant top ups from external bank accounts
Not yet available for US citizens
Slow response time from customer support
No expert guidance to manage through the markets
No dedicated dealer or account management
Wider spreads over the weekend when UK FX market is closed
2% fee on international ATM withdrawals over €200 per month
Only partially FCA regulated
View Recommended Alternatives:
- Supported Currencies: 120.
- Offices: UK, USA, France, Spain, Ireland, Australia, HK, UAE, Brazil, Gibraltar and Romania
- Execution of Orders: Online, via Telephone, or In App.
- Strong Point: Reputation, Liquidity, Service, Credit Rating
- Operating Since 1979. Highest Credit Rating Across the Industry.
4.6 /5 on Feefo
- Supported Currencies: 121.
- Offices: All 5 Continents, but not accepting USA based businesses.
- Execution of Orders: Via Telephone, Online or In Person.
- Strong Point: Exchange Rate Margins of 0.25%-0.15% for Large Clients and Excellent Service.
- Trading more than $7bn each year.
9.8 /10 on Feefo
- Supported Currencies: 59.
- Offices: UK, Australia.
- Execution of Orders: Online, via Telephone, or In Person.
- Strong Point: Online Platform, Dealers Experience, Employee Retention
- FastTrack 100 Listed.
9.4 / 10 on TrustPilot
Our Rating: 76%
Status: Not In MTC’s Most Recommended List
- Credibility Score - 50%50%
- Client Feedback - 70%70%
- Fees, Exchange Rates - 96%96%
- Global Reach, Availability, Service - 70%70%
- Added Values - 94%94%
Revolut is a huge FinTech with over 6 million registered users. The rate at which it has grown is truly unbelievable.
Revolut is not in the mould of your standard money transfer company and whom we regularly review so users with payment requirements over £50k will encounter difficulties. Not only is there a single transfer limit but also daily and weekly limits. Even if higher bank-to-bank transfers were available, the lack of dealer guidance would make this even less of an option for high value currency transfers such as property purchases.
Additionally, the concerns that were raised about the founder’s conduct and the wrong type of press it attracted, in combination with the young age of the company, makes us trust them less with our money as would a competing money transfer company like Currencies Direct which has kept out of scandals for it’s 20+ years of operation.
As such we are not recommending Revolut in our Top Recommended Money Transfer Providers List but have to appreciate what an incredible job Revolut have done in the digital banking and international currency card space.