What is Revolut.com? Why has it come to be popular in the present-day world? Is there anything unique about it? This is exactly what we shall be looking at in today’s review. The main elements of the review are as shown below:
- What is Revolut.com?
- Which are the main features on Revolut.com?
- How does Revolut.com work?
- What is the Revolut Virtual Card?
- What of the Revolut app?
- Is Revolut.com legit?
- Pros and Cons
Name of the platform: Revolut.com
Official website URL: https://www.revolut.com/
Overall Rating: (4.5 / 5)
What is Revolut.com?
Revolut is a unique and innovative banking and currency exchange platform which offers its services to its customers through a well-developed mobile app, alongside several other channels. If you have not used this platform there before, the main and essential services that you can look forward to utilizing are the money transfers across international borders, and other services that are aimed at ensuring that you have transacted money in ways that are convenient.
Revolut.com describes itself as the modern-day “digital banking alternative”. Under it, are a collection of firms whose objective is to facilitate the smooth transaction of finances by various users of the platform. Having been established back in July 2015, Revolut has stood the test of time so far, and has been serving its customers effectively. The platform was formed by Nikolay Stronosky, who had prior to settling on this company, had worked with Lehman Brothers as well as credit Suisse, two firms that are quite renowned. Nikolay is therefore a person whose professional standards and skills cannot be quite questioned.
During the time of its formation, Revolut.com simply had a pre-paid card and app, that were used by travelers in a bid to facilitate cheap currency exchanges. The platform has since then evolved to hold other services and products, which by the current day world’s standards, are quite effective and exceptional.
This is how Revolut has managed to have a client base of more than 5 million users who are distributed on a global scale. This number continues to grow on a daily basis.
Which are the main features on Revolut.com?
Some of the features that have enabled Revolut to stand out and to gain traction at the fast rate are:
- The presence of spending analytics– Revolut.com usually gives you weekly insights as to how you spent your money. The spending can be viewed in terms of various spending categories.
- You can set your unique monthly spending budgets– With this platform, clients who have adopted the financial discipline of budgeting can rely on this digital app to accomplish this.
- Managing all your money in one place– With Revolut.com, you can track your finances in one place, all thanks to open banking, which enables you to connect your bank accounts to it.
- Revolut.com card rewards– Revolut usually rewards you for every 10th purchase that you make using its benefit-linked Revolut card.
- You can split bills with your friend– With the Revolut.com app, you can easily split bills with your family and friends.
- You can conduct international money transfers effectively- Revolut.com has grown to support the sending of money in the form of 30+ currencies across the globe, based on the Interbank Exchange Rate.
- Earning impressive interest rates when you save money – When you get a Revolut.com savings account and begin saving, you can begin earning interest on the money in the account.
How does Revolut.com work?
Revolut.com sets itself apart from the regular banks by letting you create an account without demanding too much paperwork. The creators of this platform ensured that you could actually create your sterling or Euro account within a minute.
If you want to get started with the use of this platform, you are required to know the type of account that will serve you well. The three types that Revolut.com offers are:
- A free current account
- Premium account- Costs £99 monthly
- Metal account- costs £99 monthly
Right upon choosing the type of account that you think will be suitable for you and completing the registration process, Revolut.com will request that you top it up, by sending money from your verified bank account. Note that the names provided for your Revolut.com account and the bank account must match. This is one of the major security measures put in place by Revolut.com. Later on, you will also have to prove your identity by submitting a scan of your ID. This will typically happen after a day. You will have to wait for the completion of the verification process for you to begin using the Revolut account.
What is the Revolut Virtual Card?
Revolut.com has gone the extra mile to offer its clients Revolut Cards, that they can possess in their physical form or in the virtual form if they so, please. In either case, the cards are usually linked to bank accounts whose details you usually provide at the registration level.
Revolut.com asserts that using the virtual card is good for the enhancement of security. With the virtual card, one can prevent the occurrence of online card fraud. This is mainly because one can delete this type of card after several months, and have it replaced with a totally new one. This minimizes the chances of credit card thieves achieving their objectives within a time frame that is not guaranteed.
What of the Revolut app?
The Revolut app is available for download to all customers, for free. With the apps, clients can manage various Revolut accounts. If you do not like managing your finances through your smartphone, then it will be a good time to get acquainted with this since Revolut.com’s app is the most commonly used tool for this. Fortunately enough, the app is quite straightforward and is you can maneuver around it quite easily.
The numerous features on the Revolut.com app help you manage your transactions effectively. The fact that you can pay for products and services using ApplePay if you have the app is a big plus. You can view the spending notifications via the App Watch App.
It is good to point out that Revolut.com also lets you exchange a wide variety of cryptocurrencies. This is one of the very few very comprehensive apps that you will find in the current day world. If you are into the use of cryptos, therefore, this is one app that you can bank on with confidence.
Is Revolut.com legit?
I think it is. It is, so far, doing an impressive job of ensuring that people get to transact money across their national borders without many struggles. You can tell that people are happy about its services, with its (4.5/5) star rating on Trustpilot. These are ratings that more than 66,000 customers have taken time to weigh in on. This is way more than the number that companies that have been around for longer have managed to receive.
Pros and cons
- Great customer ratings
- impressive exchange rates
- A virtual card that is more secure than a physical card
- The split bill feature that lets you pay your friends
- Fee for foreign money transfers are still charged
- You have to prove your identity.
Final words and verdict:
Verdict: Legit (and Recommended)
Overall rating : (4.5 / 5)
Revolut.com is doing its customers justice by delivering what was promised to them. I think it is quite reliable and that you can try it out to see for yourself. If you, however, want to explore the world of cryptos for now, here is a platform that I think you will love:
That is all about what Revolut.com is. I hope you enjoyed the review and that you will make a decision based on what you’ve learned. If you have any questions or comments, feel free to drop them in the comments section so that I can respond to them.