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Revolut Review – What is So Good About Revolut?

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Revolut is a financial technology company that offers services to businesses and retail services. It is one of the best payment apps that has numerous features helpful for all types of users. They assure us that they handle all things money, which includes spending, saving, investing, borrowing, managing, and many more.

While using Revolut, I feel it is a pretty smooth and useful platform for me. Because I was thinking of starting a small business. Revolut gave me several options and features that I might need for my business.

Revolut holds a rating of 4.0 on Capterra, and people’s reviews are mixed, some like it a lot and some think it can get better. Some said the features are a bit difficult to understand, some said the features are the best part of Revolut. Some feel there are no options for credit or loans in their country, while some say they have good options for credit and loans.

Features

You can use Revolut for your personal or business needs. I use it as my “personal” account. While using Revolut, I discovered amazing features that this platform offers. Let me guide you through these features that might help you as well:

For Personal Use

Accounts

While exploring the account section, I encountered a smooth process of sending and receiving money. Revolut also has a “Joint Accounts” section where I could create a joint account with my partner. Now, we both contribute our share and save money. Regarding saving money via a joint account, Revolut also gave me a feature of “Savings”. Here I have several ways to save my money by creating jars and keeping track of my expenses.

We all have one or more freelance opportunities on our hands, and managing these transactions can be hectic. Revolut offers a “Pro for Freelance” feature, where you can simply apply and keep all your transaction details updated. Whether you are from the working community or the one who offers work, Revolut has something for everyone.

Additionally, Revolut has a feature for parents where they can open an account for their kids to make them understand the importance of money. I have been planning such things for when I would have kids. Here, I have the opportunity to teach my kids to manage their expenses. And whenever they run out of money, I can transfer it within seconds.

Daily Finances

Revolut has a “Cards” feature, that has helped me manage my daily finances. They gave me several options for what I wanted my card to look like. In addition, they also allowed me to apply for more than two cards.

Now, I know this can be overwhelming for many. Because having more than 2 cards can get a bit tricky to handle. But with Revolut, I got the opportunity to manage my expenses. Plus, I also customized my cards to make them memorable. They get these cool emoticon options, where I can set any emoticon to get that encrypted on my physical card.

Adding to these cool features, these cards have built-in security measures. Here, I can set up my spending limits, which helps me to manage my expenses. I can also freeze my card immediately with a moment’s notice. Revolut also gave me a one-use virtual card. This helped me to securely shop online, as it was a one-time-use card. Hence, their safety measures are pretty cool.

Crypto

Everyone must have thought about cryptocurrency once in their lifetime. However risky it may be, such investments do make us think of giving it a try once. To give us a simple interface for the same, Revolut has this feature where I was able to put my hands on Crypto coins. They allowed me to exchange my tokens between my wallet and Revolut.

Furthermore, the Revolut Ramp feature has very low fees and a fast checkout process. You just have to sign up with Revolut, and there will be no ID checkups because you already are a Revolut user.

“Revolut X” was something different for me. This is a feature where I got to experience what Crypto Pros might feel. As I am a Revolut user, I have the advantage of paying less fees for trading, regardless of the volume.

Lifestyle

Revolut’s Lifestyle feature has amazing features where I get to book stays for my vacations. The surprise here is that we can use RevPoints to get exclusive discounts and offers on all our bookings. The cherry on top is that when I booked a hotel using my RevPoints, I gained even more RevPoints. And these points are great, I was using them just like money.

With this, Revolut also offers a platform where you can recharge your eSIM data plans. While I was on my Paris trip, this feature helped me. I forgot to buy a new sim, but with Revolut I was able to sort my data abroad. Revolut helps us to connect our eSIM data instantly in 100+ countries.

Revolut has several support causes from which we can choose, donate, and make a difference. The process is very simple, I just opened the page, chose a support cause, entered the amount, and clicked donate. It was done and I was very happy. There are insurance plans as well that depend on your Revolut plan.

For Business Use

Essentials

Planning to start a business itself takes a lot of effort and understanding the essentials makes it even more difficult. Revolut Business has got us covered for this. They offered me a multi-currency account, where I can transfer money to different accounts with different currencies. The process is simple, you just need to select the currency you want to transfer.

There is a “Teams” feature, where I get to invite all my team members to one platform. Here, we control our company’s expenses. Let’s say, we got a new client, for whom we need to make certain purchases. For this, we set up our team’s payment platform and can discuss if we can get different rates for the same purchase.

It is a good initiative by Revolut. With Essentials features, spending management has become more simple.

Treasury

As the word explains, this feature is a true treasury. Because they have provided me with several ways through which I can open a savings account for my business’s future. They also gave me a way by which I was able to make currency exchanges online with just a few clicks.

Now, the next thing that I feel is helpful is the future “Currency Exchange Contracts”. This helped my business in maintaining a year’s currency exchange fee rates. With this, I was able to lock in a certain amount of forward contracts automatically.

They also offer cryptocurrency accounts. In the future, I can easily use a small amount of my business savings to buy, hold, or sell bitcoins. This is a great way to make investments for my business’s bright future.

Accept Payments

The most fun and important part of a business is accepting payments. Revolut offers us such a feature where we can accept payments in many ways. There is a normal payment option where the users can scan the code and pay us. Other than this, Revolut also gave me an option where I could generate a payment link, using which users were easily able to pay.

Additionally, Revolut also gave me the option to apply for “Revolut Reader”. This is a gadget that has helped me take physical payments with just a single tap. It is like a credit card swipe machine, I was able to accept payments easily.

Tools

It is very important to have a monthly analysis of your transactions. This analysis helps users to understand where they need to work to increase their savings amount. Likewise, Revolut’s feature, “Analytics”, has helped me manage my expenses. With this, I was also able to plan my monthly expenses and grow my savings.

The next thing that I liked the most about Revolut was its expense management feature. Using this, I was able to automate my expenses, and the receipts were saved automatically. They also provided me with the invoices and several rewards. Such features are helpful and make us users more addicted to any platform.

Connect

Revolut eased my burden by providing a feature “Revolut BillPay”. All I do is, enter all my bill details, they extract the information from that, and pay the relevant parties. They give me the time to review the payment and I just have to click send after that.

This platform also gave me the option to connect my tools to their business API. with this connection, they try to make the transaction process even more simple and automated. They have stress-free APIs for payments, which means I don’t need to worry about keeping track of my upcoming payments.

What I Like About Revolut?

There are several things that I like about Revolut. While using Revolut, I felt the interface was simple enough to use. They made an eye-catching UI and using it was fun and engaging. For me, following are the reasons I love using this app:

1. Secure and Seamless transactions: The transactions I made, for any currency, were very smooth and secured. I was not tense about losing my money, the transfer was risk-free.
2. Savings Accounts: For both types of accounts, personal or business accounts, Revolut has a feature where I was able to create a savings account. This helped me in all my savings for my future needs, both for me and my business.
3. Managing Cards: The process of managing a card is very simple and helpful. I can easily block or unblock my card with just one click.
4. Rewards and Offers: Revolut offers a huge amount of rewards and offers. They call it RevPoints. I can use these coins for any of my lifestyle uses and more.
5. Revolut’s <18 Account: I came across this amazing feature of Revolut, which is a dream come true for parents. Parents can create an account for their children and through this, they will learn how to manage their money. It is a very great way to teach kids such good habits.

What I Didn’t Like About Revolut?

The one thing that bothered me was the signing-up process. It was difficult for me to create an account. When I started exploring Revolut, I liked its features and everything. But when I started creating my account, the page was redirecting me to the homepage. I tried 2-3 times, and after that, I was able to complete the process. So, this was a hectic process for me and we users don’t like such complicated processes.

In addition to this, I feel Revolut’s pricing plans are a bit more expensive than they should be. They should revise the plans and decrease the amount. Because several people might not be able to afford such huge numbers. They can work on their pricing plans and change them to a feasible amount.

Pricing Plans

The pricing plan was a bit tricky for me because Revolut has several plans lined up for us. Moreover, Revolut offers different plans for people using it for personal use and business use, separately. Let me take you through both the plans:

Personal Account Pricing

Standard Plan

This is a free plan where we will receive a free card, use a Revolut <18 account, have full access to <18 features, 24/7 customer support, 0 fees for withdrawals at more than 55,000 ATMs in Revolut's network, can customize your card at $3.99, safer online shopping, 3.25% interest on savings accrued daily, stock trading with no commissions, international spending at market leading exchange rates, and no fee currency exchange for $1000 per month.

Premium Plan

With the pricing of $9.99 per month, the Premium plan offers a lot more benefits to its users. This includes all the standard plan features, card customization, 20% discount on international transfers, express complimentary card, customer service on priority, 4.25% interest on savings accrued daily, no fee currency exchange for $10,000 per month, complimentary airport lounge access with SmartDelay for you +1 friend, and discounted airport lounge access.

Metal Plan

This plan is $16.99 per month. Users will receive all premium and standard features. Plus, they will receive an exclusive 18G solid steel card, a 40% discount on international transfers, 5 partner subscriptions, everyday payment protection, investment benefits, travel benefits with unlimited no-fee currency exchange, and complimentary lounge access with SmartDelay for you +3 friends.

Business Account Pricing

Basic Plan

This is a free plan where you get 5 no-fee local transfers, borderless accounts, local account details for smooth USD transfers, SWIFT account details, transfers to Revolut accounts, recurring and scheduled payments, $1000 currency exchange at the interbank rate, hold and exchange 25+ currencies, plastic company cards, virtual company cards, ATM withdrawals, and spend in 15+ countries. Additionally, you can add unlimited team members, team member permissions, expense management, 24/7 customer support, can connect your apps, earn rewards, and is available on mobile and web.

Grow Plan

From $30 per month, you save up to 24% of the annual plan. In this plan, you receive all the basic plan benefits. With this you get 5 no-fee international transfers, 100 no-fee local transfers, $10,000 currency exchange at the interbank rate, limit and stop orders, 1 complimentary metal card, analytics, account access, expense approval, payment approval, and business API.

Scale Plan

This plan starts from $199 per month, where you save 21% on the annual plan. This plan includes all the above benefits, plus, 25 no-fee international transfers, 1000 no-fee local transfers, $50,000 currency exchange at the interbank rate, and 2 complimentary metal cards.

Enterprise Plan

This is a custom plan tailored for larger businesses that brings all the basic, grow, and scale plane benefits to the table. Everything that the above plans offer, with this plan, gets customized as per your business’s requirements. Plus, you also receive the benefit of managing your account by requesting a call to discuss your business needs.

Conclusion

To sum up, Revolut was a good choice for me. Because a single platform with so many features is a gem for anyone. For business purposes, they have many more features and a different set of pricing plans as mentioned above.

The one thing that I thought needs work is the pricing plan itself. They have set a pretty huge number for all of their plans. And at a certain point, it gets difficult to afford such high rates. They have tried to make their UI simple and smooth, but they must work on their pricing plans as well.

Other than that, my experience with Revolut was amazing. I received many RevPoints and used the same on all of my travel expenses. This RevPoint system is amazing, I got good discounts for this. You must try Revolut if you want to explore a good payment platform. Plus, this platform is good for kids as well, parents get the opportunity to teach their kids how to manage money.