Revolut is a multi-feature UK-based challenger bank that was co-founded in 2015 by Nik Storonsky and Vlad Yatsenko and has over 18 million loyal users worldwide.
Revolut 4 key point overview:
👉 Challenger banks have recently become increasingly popular around the world as a new type of retail bank that competes directly with larger institutional banks.
👉 They are primarily based in the United Kingdom and they are being created to give UK banking clients access to newer technologies, more features and perks, and more flexible membership plans.
👉 What makes Revolut stand out from other digital banking apps is that it is not only a digital wallet or an app to make payments, but it also offers investment options (such as crypto, stocks and commodities), pet insurance, travel and accommodation perks, and plenty of features for everyday banking needs.
👉 Revolut also offers flexible membership plans, as well as a free standard account.
👉 All the plans come with a free UK account, secure online payments, customizable cards and much more.
👉 We recommend using Revolut if you want to make faster, cheaper international payments online and if you are looking for a digital banking app that offers more than simple payments.
👉 This is a great application for someone who travels often, does shopping online, makes international payments regularly and needs an all-in-one service that covers everything from accounts for children, pet insurance, accommodation perks, care hire deals, investments, payments and basic banking services.
👉 You can use Revolut in your personal capacity or as a company.
👉 Everyday user can select one of 4 plans that each offer a wide variety of perks, security features, banking features and more.
👉 If you’re on a budget, Revolut offers a free Standard account with all the core features, but if you seek a multi-functional account with exclusive perks, cashback rewards, crypto withdrawals and plenty of other innovative features, then we recommend opening a Metal account.
👉 As a Revolut client, you will be able to invest in cryptocurrencies, stocks, commodities, and vaults.
👉 Revolut offers a secure crypto wallet with offline storage and allows users to easily buy, sell and send major cryptocurrencies.
👉 The vaults offered by Revolut are essentially flexible savings accounts with multi-currency support and daily interest can be earned.
👉 The Revolut Metal account gives 1% of funds stored in vaults as cashback rewards.
👉 As a Revolut online shopper, you are eligible for exclusive discounts and 10% cashback rewards with selected partners.
👉 You can also get up to 40% cashback when you shop at brands like Apple, Reebok, LookFantastic and Myprotein.
👉 Some of Revolut’s key features for everyday users include payments, budgeting and analytics services, cashback rewards, gifting, donations, accounts for juniors, pet insurance, secure online shopping and plenty of perks on travel and accommodation.
👉 If you are joining Revolut as a company, you will have access to a variety of tools for invoicing, expenses, business API, payment methods and QR code functionality, multi-currency accounts, reward systems, financial management for your teams, and much more.
👉 To use Revolut, all you need to do is click on the “sign up” button on the home page and you will be redirected to the next page where you will be prompted to choose the type of client you are (a company, a company team member or a freelancer/personal everyday user).
👉 You will then be able to choose a membership plan and fund your Revolut account.
👉 Alternatively, you can hover your cursor over the menu bar and choose the service or product that you are interested in.
👉 There will be a “get started” button that appears and after you click on it, you will be required to enter your phone number.
👉 If you’d like to test Revolut to see if you like it, we recommend opening a free Standard account first and exploring some of the available features.
👉 Many digital banking applications may seem a bit risky due to a lack of regulation, but Revolut is authorised by the Financial Conduct Authority under Electronic Money Regulations.
👉 This adds an extra layer of security and credibility to Revolut as an online banking service provider.
👉 In addition to transparency and regulations, we like that Revolut offers a multi-feature application that can be used for everything from basic banking services (such as payments, savings and online shopping), to getting cashback rewards and perks on travel and accommodation, ensuring pets and having special accounts for your children.
👉 This application also serves as a secure crypto wallet and as a means of investing online, and it is one of the few FCA-regulated platforms that facilitate the trading of cryptocurrencies.
👉 Revolut is on a mission to revolutionize the way pe ople do banking and we really look forward to seeing this company expands to more countries in the future!