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Revolut Review: A Centralized Money Management App With Bonus Travel Perks

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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 commission-free trading, in the future. Read our full review to decide if Revolut is the right home for your money.

Rates as of Dec. 2, 2022

Revolut

Rating image, 4.00 out of 5 stars.
Info Icon Circle with letter I in it. 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
4.00/5
APY
up to 1.20%
Min. To Earn APY
$1

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.

Surcharge-free ATM withdrawals

Revolut's free plan offers no-cost out-of-network ATM withdrawals of up to $1,200 per month. Customers also have access to over 55,000 fee-free ATMs nationwide.

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 free airport lounge access. 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 free plan, 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 commission-free 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

Online savings account comparison

The Revolut account has some definite advantages, but if you're looking for a savings account with a high APY, there are some better options out there. Here are a couple you may want to consider.

Rates as of Dec. 2, 2022
Offer
 
 
Account
Rating
Rating image, 4.00 out of 5 stars.
Info Icon Circle with letter I in it. 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
4.00/5
Rating image, 4.50 out of 5 stars.
Info Icon Circle with letter I in it. 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
4.50/5
APY 3.00% 3.60%
Min. to earn APY $1 $100
Next Steps

This account 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 commission-free 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.

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