Revolut
More than just a bank. They offer services that are difficult to find with traditional banks.
It's a mobile NEO Bank, based in Great Britain, founded in 2015. The founders are Nikolay Storonsky and Vlad Yatsenko, who started the project in 2015. Revolut has a banking license in Great Britain and Lithuania. Initially, they offered users a prepaid debit card and app and very favorable exchange rates, so it was primarily useful for travel. In the following years, they expanded their offer with many other banking and non-banking services, and expanded their user base to 12 million and is currently the fastest growing neo bank.
Revolut offers:
-
100% mobile bank
-
excellent user experience, transparent and simple user interface,
-
free monthly usage
-
free Mastercard/Visa debit card, virtual card (occasionally, outside the promo period payment of delivery costs is required)
-
very favorable exchange rates (monthly limits of €5,000 and commission over the weekend)
-
setting monthly limits
-
direct debit in EUR,
-
many security settings, 3DS for online payments
-
Vault - rounding up savings amounts
-
consumption analytics
-
Instant Transfer of funds to another user
-
split the bill
-
Apple Pay, Google Pay (not with Slovenian card number), Garmin Pay
-
buying cryptocurrencies,
-
purchase of securities,
-
travel insurance,
-
phone insurance,
-
Revolut Junior 1x
Revolut accounts
You can choose between 3 accounts, Revolut, Revolut Premium and Revolut Metal.
Revolut card
When you open an account, you receive a free Visa debit card. As part of the free account, you can also apply for one free virtual card, which is mainly intended for online payments.
Opening an account
The process of opening an account is simple and fast. Install the application, enter your personal data, take a picture of your ID and wait for confirmation. Read more about opening an account here.
Account top-up
You can top up your Revolut account for free via bank transfer, debit/credit card or Apple pay.
Costs
The basic Revolut account is free, with no monthly fee. It is also free to issue the first debit card (sometimes it is necessary to cover the costs of delivery), as well as the virtual card. Payment is always without commission. Transfer of funds to another EUR account within the euro zone as well (bill payment, transfer to another EUR account...). Cash withdrawals in the euro area are free up to €200 per month. After that a commission is paid. Read more about costs under Revolut costs.
Support
Given that Revolut is a completely mobile bank, support is provided through the application in the form of a conversation with an agent. In case of occupancy, they inform you that there is currently increased demand and that they will contact you shortly. You will receive a push message that the agent has answered your question.
Asset protection
Funds are not protected under the deposit guarantee scheme.
Can Revolut replace your bank? Try it, it's free. Install Revolut app.