Does Revolut charge a fee?

Yes, Revolut charges fees, but they vary significantly by your chosen plan (Standard, Plus, Premium, Metal, Ultra) and the service used, with the free Standard plan covering basic needs but paid plans offering higher limits and features like travel insurance, while fees apply for ATM withdrawals over limits, certain international payments, and weekend currency exchanges.

Does Revolut have any hidden fees?

Revolut aims to be transparent with its fee structure. While they do not have hidden fees, users should check their pricing plan for details on costs for premium accounts, international transfers, and weekend currency exchange rates.

Is Revolut truly free to use?

Create a Revolut account for free

Revolut offers multiple plan options, which come with higher monthly no-fee allowances, so you can exchange and send money abroad at competitive rates. And you'll pay zero transfer fees when you send money to other Revolut customers.

Is Revolut a monthly fee?

Revolut customers can enjoy our Standard plan for no monthly fee. You can also choose to upgrade to a paid plan to unlock improved limits and partnership benefits on Premium, Metal, or Ultra. Compare all plans and benefits side-by-side on our Plans Pricing page.

How to avoid Revolut fees?

Always pay in the local currency

If prompted, choose to pay in the local currency and reject any exchanges. If you have enough of the local currency, you shouldn't be charged any additional fees for exchanges by Revolut.

Why Revolut Is My Go-To Travel Card: Fee-free, Insurance & MORE!

Is Revolut 100% free?

We don't charge a fee for using your Revolut card to make purchases in your base currency. However, we may charge fees if you're using your card to withdraw cash or spend in another currency.

Why is my Revolut charging me a fee?

If your transfer is in a currency not supported by Revolut, your bank may convert the transfer at their exchange rate, which may lead to a currency conversion fee. That's why — to avoid fees — we recommend using local details and supported countries and currencies, which you can check in this FAQ.

Can I withdraw from Revolut for free?

Your plan includes a certain amount of withdrawals each rolling month at no cost from Revolut. Check your withdrawal allowance and reset date in the Your plan section in-app.

Is Revolut expensive to use?

Revolut fee overview

Standard plan holders pay no monthly fee, but have a relatively limited range of features and no-fee services. Customers who choose to upgrade to Premium or Metal pay a monthly fee but can get a higher amount of no-fee transactions every month, as well as a range of other perks.

Is Revolut no longer free?

We don't charge a fee for using your Revolut card to make purchases in your base currency. However, we may charge fees if you're using your card to withdraw cash or spend in another currency.

Are Revolut card payments free?

Every time a customer uses a credit card in your store, there's a fee that is paid from the acquiring bank or merchant account to the issuing bank or customer account. It's called an interchange fee. (There is an exception to this, see below.) Interchange fees are set by each network.

Is Revolut worth having?

Whether or not Revolut Premium is worth paying for depends on your money needs. If you mostly stick to everyday spending at home, the free Standard plan could be suitable. But if you travel often or spend in different currencies, the £7.99 monthly fee for a Premium account may very well be worth it.

Do I get charged for using Revolut abroad?

All customers can spend, withdraw, and exchange foreign currencies during the week without additional fees, up to a certain amount based on your plan. After this, you will be charged an exchange fee.

Are you taxed on Revolut?

As required by Irish tax law, we'll deduct 33% Deposit Interest Retention Tax (DIRT) from any interest you've earned. We do this before it's credited to your Instant Access Savings. The same applies to the joint Instant Access Savings. The deductible tax needs to reach €0.01 before we begin withholding this tax.

How is Revolut making money?

As of 2022, Revolut reported that over 30% of its revenue came from subscription services, reflecting significant consumer willingness to pay for added value (Source: Crunchbase). Moreover, Revolut's income is complemented by interchange fees, fees from currency exchange, and commissions on cryptocurrency transactions.

What is the minimum balance for Revolut?

You are only able to apply for and manage your Instant Access Savings via the Revolut app. There is no minimum required balance to open an account. You can pay in any amount up to the maximum aggregate balance of £5,000,000 across all Instant Access Savings accounts.

Is it free to transfer money from Revolut to my bank account?

No local bank transfer fees

You won't pay any Revolut transfer fees for GBP transfers to other bank accounts in the UK or EUR transfers within the SEPA region, no matter how much you're sending.

Is there a daily limit on Revolut?

Cash withdrawals are limited to £3,000 (or other currency equivalent) within 24 hours. The daily limit can't be increased. You can make a certain amount of withdrawals each rolling month without withdrawal fees charged by Revolut. Check your withdrawal allowance status and reset date in the your plan section in-app.

What is the controversy with Revolut?

Revolut has been fined €3.5 million by the Lithuanian central bank over alleged deficiencies in its AML controls. Regulatory authorities found that the neobank failed to implement adequate controls to prevent money laundering and related financial crime.

Is it better to use Revolut or debit card abroad?

Traditional banks aren't your only option. Financial apps often have similar features to traditional banks without the hassle. With Revolut, you can do everything in-app and save on your transactions and withdrawals abroad. You get ultimate flexibility and control over your money.

Is it safe to keep a lot of money on Revolut?

Revolut has partnered with banks that are part of the Financial Services Compensation Scheme (FSCS). If eligible, your Savings accounts deposits are protected up to £120,000 per person, per bank, by the FSCS.

Are there hidden fees with Revolut?

We don't charge a fee for using your Revolut card to make purchases in your base currency. However, we may charge fees if you're using your card to withdraw cash or spend in another currency.

Which bank transfer is free?

Yes, UPI-based bank transfers through Paytm are free for users. No extra charges are deducted for sending money. This makes it cost-effective compared to traditional bank methods.

Why am I being charged to add money to Revolut?

Add money. Stored card: free. However, if you add money with a card that has not been issued within the EEA (e.g. a US-based card) or you add money with a commercial card then we may charge a small fee just to cover our costs. Bank transfer: free.