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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.
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.
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.
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.
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.
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.
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.
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.
Here are your options for accessing money you place into a Revolut account:
You can deposit money in any of these ways:
Use one of these methods to withdraw money from your Revolut account:
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.
Rating image, 4.00 out of 5 stars.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.
Rating image, 4.50 out of 5 stars.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.
|Min. to earn APY||$1||$100|
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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