Review
Updated
Revolut doesn't fit the mold of a typical bank account. Its wide-ranging feature set includes savings, cash back rewards, and travel perks -- and that's just the start. The company plans to release new features, including no-commission trading, in the future. Read our full review to decide if Revolut is the right home for your money.
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Ratings Methodology
Rates as
of Apr 27, 2024
Revolut
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Best
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= Excellent
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= Fair = Poor- Get your paycheck up to two days early
- Variety of travel perks included
- Cash back on debit card purchases
- Some features require a paid plan
Revolut offers an impressive suite of banking features, including several geared specifically at travelers. This includes currency exchange and travel insurance. Customers can also earn cash back on debit card purchases and enjoy no foreign transaction fees abroad. But those who want access to all these features have to get comfortable paying a monthly fee.
Full Revolut review
Top perks
Access your paycheck early
Revolut lets customers access their direct-deposited funds up to two days sooner than many other banks, a feature common in many of the top online banks today. This feature is subject to the timing and eligibility of the payer's submission.
No-surcharge ATM withdrawals
Revolut's Standard Plan charges zero fees for withdrawals at 55,000 ATMs nationwide, and for up to $1,200 per month of no-fee out-of-network withdrawals. However, ATMs may charge their own fees.
Impressive travel perks
Jetsetters will appreciate the many travel-related perks Revolut offers, including currency exchange, the option to make purchases with your Revolut card in dozens of currencies, overseas medical insurance, delayed baggage and flight insurance, and a Smart Delay feature that allows you to get complimentary lounge passes if your flight is delayed by one hour or more. Some of these features are only available to paid members, though.
Easily track your spending
In addition to housing your money, Revolut can help you track where it goes through its suite of budgeting and analytics tools. You can set spending alerts and view your spending by category to help identify areas of overspending.
Earn cash back on Revolut card purchases
Using your Revolut card at select stores can earn you cash back on your purchases. The exact rate depends on the company in question. Revolut also offers discounts at select retailers.
What could be improved
Some features only available to paid subscribers
Revolut has a plan that doesn't require a subscription, but if you want some of its more unique offerings, like its travel perks, you'll have to pay a monthly fee. There are two paid plans available, so you can choose the one that best fits your needs and budget.
Full slate of features not available yet
Revolut is based in the United Kingdom and made its first appearance in the U.S. in 2020. At present, its feature list for U.S.-based customers isn't as robust as its options for U.K. customers. But this will likely change over time as the company plans to offer new features, including no-commission trading, to U.S. customers in the near future.
How to access your money
Here are your options for accessing money you place into a Revolut account:
Deposit options
You can deposit money in any of these ways:
- Direct deposit
- Electronic bank transfer
- Wire transfer
- Apple Pay
- Google Pay
Withdrawal options
Use one of these methods to withdraw money from your Revolut account:
- Electronic bank transfer
- Wire transfer
- Using your Revolut card at a store or ATM
- Send money to other users in the app
High-yield savings account comparison
We recommend comparing high-yield savings account options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of standout accounts.
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| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Rating image, 4.75 out of 5 stars.
4.75/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 4.60%
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
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New customers can earn up to a $300 bonus with qualifying direct deposits!
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Rating image, 4.75 out of 5 stars.
4.75/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
5.05% APY for balances of $5,000 or more
Rate info
5.05% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000 for max APY
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N/A
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Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.35%
Min. to earn: $0
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New customers can earn a $200 bonus with a minimum $25,000 qualifying deposit. Terms apply.
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Revolut is right for you if:
The Revolut account is a great choice for those seeking a centralized app to manage many aspects of their finances. It's also a great fit for international travelers, thanks to the many travel-related perks available to its paid customers. American customers have a limited slate of services at present, but the addition of no-commission trading in the near future will only increase its appeal.
Those looking for a more traditional high-yield savings account with a higher APY may have better luck elsewhere, though.
Keep reading about Revolut
Our bank and credit union methodology
Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.
These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.
Learn more about how The Motley Fool Ascent rates bank accounts.
Our Banking Expert
Kailey Hagen has been writing about small businesses and finance for almost 10 years, with her work appearing on USA Today, CNN Money, Fox Business, and MSN Money. She specializes in personal and business bank accounts and software for small to medium-size businesses. She lives on what's almost a farm in northern Wisconsin with her husband and three dogs.
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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
Please note that Revolut is frequently updating its products and features, see the Revolut Terms and Conditions for the latest offerings. Revolut is a financial technology company. Banking services provided by Metropolitan Commercial Bank, (Member FDIC).
The content of this review does not concern any customers that are based outside of the US.
Early Salary subject to timing and eligibility of payer's submission.
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Citigroup is an advertising partner of The Ascent, a Motley Fool company. Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. American Express is an advertising partner of The Ascent, a Motley Fool company. Kailey Hagen has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Apple, Mastercard, and Target. The Motley Fool recommends Discover Financial Services and recommends the following options: long January 2025 $370 calls on Mastercard and short January 2025 $380 calls on Mastercard. The Motley Fool has a disclosure policy.