Revolut
Revolut is a financial services company that offers banking, currency exchange, cryptocurrency exchange, peer-to-peer payments, and other financial services through a mobile app. It aims to provide an alternative to traditional banks by offering free international money transfers
banking
currency-exchange
cryptocurrency
payments
mobile-app
Revolut: Mobile Banking with Free International Money Transfers
Revolut offers banking, currency exchange, cryptocurrency exchange, peer-to-peer payments, and other financial services through a mobile app, aiming to provide an alternative to traditional banks with free international money transfers, fee-free spending, and interbank exchange rates.
What is Revolut?
Revolut is a financial technology company that offers banking and financial services through a mobile application. Founded in 2015 and headquartered in London, Revolut aims to be an alternative to traditional banks by providing free international money transfers, fee-free spending abroad, and interbank exchange rates.
Some key features of Revolut include:
- Free bank accounts in multiple currencies
- Physical and virtual debit cards
- Peer-to-peer payments
- Cryptocurrency exchange and trading
- Commission free stock trading
- Travel insurance and phone insurance
- Personal loans and cash advances
- Budgeting and analytics tools
Revolut primarily makes money through interchange fees from card payments, along with premium subscriptions that offer additional features. It has over 25 million customers globally and has raised over $1 billion in funding.
While innovative in its offerings, Revolut has also faced criticism around its communication, responsiveness to customers, and approach to tackling money laundering. However, with its rapid growth and development of new products, it continues to pose a threat to challenger banks globally.
Revolut Features
Features
- Free international money transfers
- Fee-free spending
- Interbank exchange rates
- Cryptocurrency exchange
- Peer-to-peer payments
- Virtual debit cards
- Travel insurance
- Stock trading
Pricing
- Freemium
- Subscription-Based
Pros
Easy to use mobile app interface
No fees for standard account
Good exchange rates
Supports many currencies
Virtual and physical debit cards
Allows cryptocurrency trading
Offers travel insurance
Provides stock trading
Cons
Limited customer service
Can freeze accounts without warning
Not a full-service bank
Higher fees for premium accounts
Cryptocurrency fees can be high
Stock trading has limited features
Official Links
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