Revolut; Rachel Mendelson/Insider
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Pros and cons
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Revolut Account
The
You might like this account if you prioritize international banking services. You can easily spend money internationally by exchanging 140 types of currency through the platform. The account also allows you to make 10 fee-free international or domestic wire transfers per month.
The
Revolut Savings Vault
When you open a Revolut account, the mobile app also lets you open a
How Revolut works
Revolut is a British fintech company with an international banking and investing app. Access to certain app features will depend on your monthly plan. Here’s an overview of the US plans:
| Standard (Free) | Premium ($9.99 per month) | Metal ($16.99 per month) |
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Revolut’s mobile app is rated 4.5 out of 5 stars in the Google Play store and 4.7 out of 5 stars in the Apple store.
Customer support is available 24/7 through the platform’s live chat. Revolut only has an automated phone system, so if you have any questions about the app’s services and aren’t a customer yet, you’ll have to search through the FAQ section or send an email.
The Revolut Account and Savings Vault are FDIC insured by Metropolitan Commercial Bank and Sutton Bank.
Revolut trustworthiness and BBB rating
We use ratings from the Better Business Bureau to help determine how a business deals with customer issues. Revolut has a C rating from the BBB due to 55 complaints filed against the business, an unresolved business complaint, and an advertising issue.
The BBB stated that in 2019 it asked the business to verify claims in an advertisement that violated the BBB Code of Advertising. Revolut hasn’t responded to the BBB about the claims made, yet.
Also, keep in mind a strong BBB rating doesn’t necessarily ensure your relationship with a business will be perfect. Talk to customers or read online customer reviews to see if Revolut is right for you.
Revolut vs. Qapital
Revolut and Qapital are two mobile banking platforms. Here’s how the two compare.
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Revolut |
Qapital |
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APY |
APY |
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Standout feature International banking services |
Standout feature Rules provide ample ways to save |
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Both Qapital and Revolut stand out as alternative options to the traditional brick-and-mortar bank.
You may prefer Revolut if you’d like to avoid paying international transfer fees. Most banks charge between $40 to $50 per international wire transfer. Revolut provides 10 fee-free international or domestic transfers per month and charges a lower fee if you exceed the monthly free limit.
Qapital may stand out to you if you’re looking for ways to save. While Revolut lets you establish personal goals through Vaults and round up debit card purchases, Qapital provides a plethora of tools called Rules. You can use the 52 Week Rule to save $1,378 during a year or reward yourself with savings by tying your account to Apple Health.
Revolut vs. Wealthfront
See how Fulton Bank stacks up to another digital banking service: Wealthfront.
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Revolut
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Wealthfront |
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APY |
APY |
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Standout feature International banking services |
Standout feature Competitive interest rate |
You’ll probably prefer Wealthfront if you’re looking for ways to earn more interest on a bank account.
The
You might sway more toward Revolut if you frequently use ATMs. Both banks are connected to the Allpoint ATM network. However, Wealthfront charges a $2.50 out-of-network ATM fee, while Revolut allows you to withdraw up to $1,200 from out-of-network ATMs without charging a fee.
You also might like Revolut if you’d like to exchange currency easily. You can exchange 140 currencies through the
Frequently asked questions (FAQ)
Is Revolut safe?
The Revolut Account and Savings Vault are FDIC insured by partner banks. You may safely keep up $250,000 in an individual account, and your money will be protected even if a bank shut down.
Can I transfer money from my Revolut to a bank account?
You can transfer money from a Revolut Account to another bank account. However, the Savings Vault only allows you to transfer money to your Revolut Account.
What are Revolut card usage limits?
You may withdraw up to $3,000 per day from an Allpoint ATM, or $1,200 from an out-of-network ATM.
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