With a slogan "One app, all things money", Revolut markets its banking app as an essential tool that let you manage your finances better and make shopping online easier. Using the Revolut App, you can open an account and get a physical card — much like a Mastercard or a Visa — and use it to make financial transactions online through the Revolut app on your phone.
| Operator | Card | Reliability | Best in | Score | |
|---|---|---|---|---|---|
#1
|
Visa, MasterCard | Low and transparent fees with mid-market exchange rates | International Money Transfers | 97 | Open Account |
#2
|
Visa | Online banking with no monthly fees | Spending Account | 96 | Open Account |
#3
|
Visa | Hybrid banking with quality support | Hybrid Banking | 94 | Open Account |
Revolut is not a traditional bank, meaning it does not have a physical branch, but through its app, you can use it like you would with traditional banks. Sending money abroad, saving money, and buying and selling crypto and stocks are some of the many things you can accomplish using the Revolut App.
You can download the Revolut app from Google Play Store if you use an Android phone or from the Apple App Store if you are an iPhone user.
Aside from iPhone and Android smartphones, the app is also compatible with iPads, Apple Watches, and even via desktop and laptop computers through the Revolut Web App.
Once you have downloaded the app, you simply must follow the instructions to be displayed on your screen on how to create your Revolut account.
You will need to provide these information: name, home address, birth date, email address, phone number. You will also need to verify your identity by submitting a picture of your passport or other Government-issued IDs.
Afterward, you will be prompted for a security passcode that you will need every time you open your Revolut App.
Upon creation of your account, you can add funds to your account from your other bank via bank transfer to start using it to buy items online. You can also apply for your physical card and use a virtual card for one-time purchases on your app.
Despite not being a bank, Revolut can keep your money as an "e-money" institution.
Therefore, it is authorized by the UK financial regulator to provide banking-like services. The cash held by Revolut is ring-fenced with another bank. Therefore, the bank does not lend or invest your money.
Revolut's saving "vaults" are held at a bank, and as that bank is part of the FSCS (Financial Services Compensation Scheme), the cash inside is protected.
Revolut allows you to view your balance and past transactions from a separate tab displaying details of all your linked accounts when you connect your other bank account(s) to your Revolut App. You can also use Revolut's budgeting features to keep track and manage your other bank accounts.
Revolut has now made available its 24/7 customer support to all its account holders — which was once only open to premium account users. You can easily contact the customer service from your Revolut App. There is an instant in-app chat feature you can use for pressing matters and an email support service for non-pressing concerns.
By using the app, you can also access the Revolut Community where you can converse with expert users of Revolut to ask them for advice and useful tips.
By using the Revolut App, you can easily accomplish these:
The Revolut mobile app comes with these features:
Other features include; Commission-free stock investing, personal loans up to €8,000, and purchasing of medical insurance.