How Revolut Works ?

The revolute  App allows account charge-offs and cash withdrawals in 120 currencies, along with direct transfers in 26 currencies within the app. Another feature is instant buying and saving in the most popular cryptocurrencies and converting them to/from 25 fiat currencies.

Every customer is provided with an account number and sort code, just as with any classic bank, so that it could be used as the main bank account – to pay the bills and collect salary.

A large part of Revolut business is its travel spending (+ travel insurance) and payment splitting features. A multi-currency account with fee-free spending and withdrawals abroad is meant for travelers and expatriates. At any given time you can exchange between any available currencies for free. The payment splitting feature is created to let users share costs such as taxi rides, cinema tickets or rent with friends or family who also have Revolut account.

On top of that, the app offers a variety of other financial services, such as peer-to-peer loans, provided by Lending Works, the mentioned-above travel and phone insurances, crypto exchange, and multiple offers from partner companies. For instance, Revolut is offering bonuses to its users who will decide to invest their pensions with “PensionBee”.

There are multiple methods for funding your Revolut account:

  • Bank transfer
  • Credit/debit card
  • Google Play
  • Apple Pay

revolute Pros

  • Can hold up to 24 different currencies in your account
  • Can purchase Cryptocurrencies
  • Spend abroad, avoiding poor exchange rates
  • 24 Hour Customer Service via the website or live chat
  • User friendly App
  • Physical Card
  • To get first free revolute  card use link : revolute 

revolute  Cons

  • When markets are closed at the weekend, fees are charged of 0.5% and 1% on currency exchange rates
  • Foreign Exchanges over £5000 cost 0.5%
  • Free Cash withdrawals are limited to £200 per month
  • No physical bank branches

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