Revolut Bitcoin & Cryptocurrency Digital Banking Alternative Review

Revolut aims to be “your digital banking alternative” for features like instant payment notifications, free international money transfers, and more. Here’s our review.

What is Revolut?

Revolut is a digital banking platform that recently launched in the United States. Found online at Revolut.com, the platform provides instant payment notifications, free international money transfers, and global fee-free spending, among other banking services.

You can get early access to the platform today at Revolut.com. The platform has already saved European customers $160 million in fees by offering “real exchange rates” to users. Now, they plan to offer similar service to American customers.

How Does Revolut Work?

Some of the core features of Revolut include:

Spend Abroad Without Fees:

Revolut lets you spend money fee-free around the world. You pay the real exchange rate while paying with your Revolut card or while making international ATM withdrawals (ATM withdrawals are available for free).

Multi-Currency Accounts:

Users can hold, transfer, and exchange their money in USD and 25 other foreign currencies using the real exchange rate.

Free International Money Transfers:

Revolut users enjoy fast, free, and secure money transfers to bank accounts in 120+ countries. Revolut claims users can save up to 8% by using the real exchange rate.

Buy and Exchange Cryptocurrencies:

You can buy, hold, and exchange cryptocurrencies like Bitcoin, Ether, and Litecoin on Revolut. You can also exchange these cryptocurrencies for 25+ fiat currencies at the best possible exchange rates.

Instant Spending Notifications:

Revolut lets you stay on top of your spending by receiving instant payment notifications. You can also view easy-to-understand analytics that automatically categorize your transactions, allowing you to plan ahead and stay within your budget.

Send Money Instantly for Free:

Send money to your friends and family in seconds. Select a phone contact, enter the amount you wish to transfer, and the money will arrive in their account.

Split Bills With a Tap:

Send and request money instantly from your friends and family for expenses like rent, a dinner out, holiday expenses, and more.

Revolut offers all of the above services for free. The company also lets you order a “Revolut Black Card” that comes with additional features. The card is available to Premium subscribers, with a Premium subscription costing 6.99 GBP or EUR per month.

Revolut Features

Revolut has two types of accounts: Standard and Premium. Standard accounts are free, while Premium accounts are priced at 6.99 GBP or 6.99 EUR per month. The Revolut Black Card is available to Revolut’s Premium customers. Below, you’ll find the features for each type of account – including features for the Revolut Black Card.

Revolut Standard Features

  • Free UK current (checking) account
  • Free Euro IBAN account
  • Interbank foreign exchange rates
  • Free bank transfers in 25 currencies
  • 200 GBP or 200 EUR worth of free ATM withdrawals per month

Revolut Premium Features

  • Free UK current (checking) account
  • Free Euro IBAN account
  • Interbank foreign exchange rates
  • Free bank transfers in 25 currencies
  • 400 GBP or 400 EUR worth of free ATM withdrawals per month
  • Free unlimited foreign exchange volumes
  • Free exclusive premium cards
  • Free overseas medical insurance
  • Free global express delivery
  • Exclusive priority 24/7 customer support
  • Exclusive Premium promotions

Revolut Lending

Revolut has a short-term lending platform that allows users to access short-term loans at discount rates. Revolut provides cheaper fees than its competitors by offering peer-to-peer lending. The Revolut peer-to-peer lending system matches individual lenders with people who want to borrow. This cuts out banks entirely. Revolut claims users can expect to save 50% compared to an average bank.

You can check your personalized short term lending quote online today at www.Revolut.com/us/personal-loans.

You can customize your loan amount from 500 to 25,000 GBP, with a repayment term ranging from 12 to 60 months. If you apply online and accept your personal loan quote, the money will be transferred to your Revolut account instantly, whether you’re at home or abroad.

Revolut Travel Insurance

Revolut also has pay-per-day worldwide travel insurance. Revolut’s travel insurance uses geolocation technology so you only get charged for the days that you’re actually abroad. Medical and dental coverage is available through Revolut for as little as 1 GBP per day.

Revolut also offers annual travel insurance plans starting at 30 GBP per year.

Some of the key features of these travel plans include:

  • Emergency medical and dental treatment while abroad
  • Access to an extensive network of medical centers worldwide
  • Rapid reimbursements paid directly into your Revolut account
  • Simple and transparent terms and conditions (you can view the terms here: https://www.revolut.com/us/terms)

About Revolut

Revolut was launched in July 2015 as a digital banking service. The company sought to disrupt the traditional banking industry by offering lower fees and cheaper overhead expenses than its well-established competitors.

The company was co-founded by Vlad Yatsenko (Founder and CTO) and Nikolay Storonsky (Founder and CEO). Yatsenko has 10+ years of experience building financial systems at tier one investment banks, while Storonsky is a former trader with Credit Suisse.

Since launching in 2015, Revolut claims to have saved customers $160 million in fees. The company has already received investments from Point Nine, Index Ventures, Seedcamp, Balderton Capital, and Ribbit Capital.

Revolut Bitcoin & Cryptocurrency Digital Banking Alternative Conclusion

Revolut is a digital banking service based in the UK. The company has recently expanded its personal and business banking services to customers in the United States.

Overall, Revolut emphasizes fee-free transfers, fee-free payments, and lower transaction costs than traditional financial institutions. To learn more about Revolut and how it works, visit online today at Revolut.com.

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