Revolut
App type: Finance
App overview:
• Name: Revolut
• Version: 10.101.2
• Download Size: 327 MB
• Released Date: June 1, 2015
• Developer: Revolut Ltd
• Device Compatibility: For Android Version 7.0 and up.
At a glance, Revolut’s app gives you:
• A multi-currency account and local IBANs in many markets.
• Physical and virtual cards (including disposable virtual cards).
• Instant currency exchange at competitive rates (with monthly free allowance on the free tier).
• Peer-to-peer sending, international transfers, and business accounts.
• Extras like cryptocurrency and stock trading, Vaults (round-ups and savings), travel and purchase protections on paid plans, and premium subscription tiers with perks.
What is Revolut and how does it work:
Revolut is a fintech group that operates under different legal entities depending on your country — in some places it operates as a bank, in others as an e-money institution that safeguards customer funds with partner banks. You use the Revolut app to open an account, verify your identity (photo ID + selfie), top up money, and then spend with cards, transfer money, or exchange currencies. The app routes payments through the relevant local entity and applies whichever regulatory protections apply to your region (e.g., deposit insurance for customers of its licensed bank entities in the EEA).
App interface and features:
Revolut’s interface is clean, mobile-first, and focused on quick access. Key user-facing features include:
• Multi-currency wallets: hold and exchange dozens of currencies inside the app.
• Cards: physical, virtual, and disposable single-use virtual cards for safer online shopping. You can freeze/unfreeze cards and set spending controls from the app.
• Transfers: local and international transfers (SEPA in the EU is typically free; cross-border transfers may carry fees outside allowances).
• Investing: commission-free micro-investing in stocks (region-dependent) and crypto trading (availability varies by country and regulatory environment).
• Vaults & Saving: round-ups, scheduled transfers, and higher-yield options in some markets.
• Business features: multi-currency business accounts, corporate cards, and payroll tools for companies.
The app also adds conveniences like travel perks, in-app budgeting and analytics, as well as subscription tiers (Standard, Plus, Premium, Metal/Ultra) that raise limits and unlock perks like travel insurance, exclusive cards, or priority support. Pricing and included allowances differ by region and plan.
Is Revolut legit and safe?
Yes, Revolut is confirmed to be a legit and safe platform.
Legitimacy and regulation:
Revolut is a large, established fintech with tens of millions of users and multiple licenses around the world. It operates under different regulatory frameworks in different markets — sometimes as a licensed bank (e.g., when local banking licences are granted), sometimes as an electronic money institution where customer funds are safeguarded with partner banks. These differences matter because protections (like deposit insurance) depend on the entity that holds your account. Always check which Revolut entity covers your country.
Security features:
Revolut provides modern security tools: biometric login, two-factor authentication, card freeze/unfreeze, disposable virtual cards, and monitoring for suspicious activity. The company also describes machine-learning driven fraud detection and a 24/7 financial crime team. These are useful controls many users appreciate.
Concerns and recent regulatory scrutiny:
Revolut has faced regulatory scrutiny and high-profile customer complaints about fraud handling and anti-money-laundering (AML) controls. Regulators have acted — for example, the Lithuanian central bank fined Revolut for shortcomings in AML controls earlier in 2025 — and Revolut’s bid for a full UK banking licence has been carefully scrutinised with regulators asking for stronger global risk controls. Those events underline that while Revolut is legitimate and widely used, it has had real compliance and customer-support issues that prospective users should be aware of.
Practical takeaway: Revolut is broadly safe to use for everyday spending and travel balances, but many consumer-protection differences exist versus full traditional banks — and users with large sums or complex needs should confirm the legal protection that applies to their account.
How to get started with Revolut:
1. Download the Revolut app from your store.
2. Sign up with phone number and email.
3. Provide personal details (name, address, date of birth) and complete identity verification with a government ID and selfie — this step unlocks full account features.
4. Top up your account (card/debit transfer/bank transfer) and order a physical card or create a virtual card.
5. Explore the app: set up Vaults, enable location-based security, create disposable virtual cards for online purchases, and enable passkeys/biometrics for stronger login security.
Pros and cons:
Pros:
• Strong multi-currency support and competitive exchange rates for travel and international transfers (within allowances).
• Clean, fast mobile app with many features in one place (cards, wallets, investing, Vaults).
• Useful security tools like disposable virtual cards, in-app freeze, biometrics and passkeys.
• Business accounts with multi-currency support are attractive for freelancers and small companies.
Cons:
• Customer support and fraud reimbursement have been pain points in public reporting; several high-profile cases led to complaints and ombudsman rulings. Regulators and consumer groups have flagged issues.
• Legal protections vary by jurisdiction; not every Revolut account carries deposit insurance. Check the entity that covers your country before storing large sums.
• Some fees and limits exist (and differ by tier/region): free exchange allowances, weekend FX markups, cross-border fees outside allowances, and subscription costs for Premium tiers. If you trade crypto or stocks, availability and costs depend on local rules.
• Regulatory scrutiny and fines — while not a reason to panic — are a reminder Revolut is still maturing as a global regulated player.
Conclusion:
If you want a modern, powerful app for travel, multi-currency spending, easy card controls, and light investing, Revolut is a compelling choice. The app is polished, packed with useful features, and often cheaper for currency exchange and cross-border spending than many traditional banks. However, it’s not a one-size-fits-all replacement for a traditional bank — protections depend on the legal entity behind your account, and Revolut has had notable customer-support and AML regulatory issues that have received public attention.
My practical advice: use Revolut for day-to-day spending, travel, and small balances; enable all security features (biometrics, passkeys, disposable virtual cards); and avoid keeping large sums in the app unless you’ve confirmed deposit protection for your country’s Revolut entity. If you rely on immediate, sure reimbursement in the rare case of fraud, weigh Revolut against a fully regulated high-street bank in your country.
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