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This account breaks the mold of ordinary banking, offering financial freedom and flexibility without startup fees. Whether you’re managing daily expenses or planning for the future, it is a game-changer.
Trusted by over 40 million users worldwide, it’s not just any standard account—it’s your trusted companion on the journey of financial empowerment.
Ready to learn more? Let’s dive in!
Features of the Revolut Consumer Account App
Here are the standout features of the Revolut Consumer Account. First, dealing with long queues or piles of paperwork is not needed. You just download the Revolut app, open an account, and you’ll be up and running in minutes. It’s that easy!
Want to go physical? You can claim your complimentary Standard card (with possible delivery fees) and get ready to turn heads wherever you go.
Excited to start spending? While waiting for your physical card to arrive, you can get a virtual card immediately. Add it to your phone wallet or use disposable cards for online purchases—no details exposed.
What’s more? You can send and receive money in over 25 currencies, with no-fee transfers between Revolut friends worldwide.
Plus, exchange currencies conveniently up to $1,000 per rolling month without fair usage fees, Monday to Friday at 5 PM ET. Upgrade to Premium for even better limits if you need more.
Whether at home or abroad, withdraw up to $400 from out-of-network ATMs worldwide. Just be aware that fees may apply.
With features like spare-change round-ups and recurring transfers, growing your money has never been easier!
Revolut Consumer Account Pros and Cons
Here are its pros and cons of Revolut account:
Revolut Account Benefits
On the bright side, starting with their standard account won’t cost you a dime – no subscription fee is required.
Plus, you can spend in over 150 currencies, which is neat.
Another perk? You can get your direct deposits early right into your Revolut account. And you’ll have access to their ATM network, too.
Cons of Revolut Account
Let’s discuss the drawbacks: Snagging that complimentary Standard card might sound fantastic, but watch out for potential delivery fees.
When using out-of-network ATMs worldwide, you can withdraw up to $400, but beware of lurking fees that could increase your costs.
Investing in stock trading and gaining access to over 2,000 stocks and ETFs with no commission fees sounds great, but remember, all investments carry risks.
Access to certain features depends on your plan. If you’re considering Premium or Metal plans, be ready for monthly fees of $9.99 and $16.99, respectively.
Rates and Fees
When it comes to rates and fees for your Revolut, there are a few things to keep in mind. First, there’s no fee for getting a standard card, but you might have to pay for delivery.
You should check out the paid plans to level up your experience and unlock some cool perks while saving on fees. First, there’s the Standard plan, which is free. Then there’s Plus for £3.99 a month, offering more benefits for your buck.
Feeling fancy? Premium might be your thing at £7.99 a month. And for the ultimate Revolut experience, there’s Metal for £14.99 a month or Ultra for £45 a month.
There’s no load fee, except for inbound U.S. domestic wire payments when adding money via bank transfer. Adding money using a domestic personal debit card incurs a fee of up to 1% of the transaction amount. Using a domestic personal credit card results in a fee of up to 3% of the transaction amount, plus additional fees from your credit card issuer.
There’s no issuance fee for your first Revolut card, but you might have to pay for delivery. Replacement cards cost $5.00 each under the standard plan. Delivery charges vary depending on the method and destination, ranging from $0.00 to $19.99.
Virtual Revolut cards are issued with no issuance fee, while additional virtual cards cost $4.99 each.
When it comes to spending, there are no fees for ATM withdrawals at in-network ATMs. For out-of-network ATMs, there’s no fee for withdrawals up to $400 a month or currency equivalent, but after that, a 2% fee applies.
Keep in mind, though, that the ATM operator or network might charge their own fees. ATM withdrawals involving currency exchange within the Revolut app may also have associated costs.
Transfers to other Revolut users are free, but charges may apply for payments to bank accounts outside of the Revolut app. For outbound or inbound U.S. domestic wire transfers, there’s a $10.00 fee for each transfer to or from each account.
When it comes to currency exchange, Revolut uses an exchange rate based on market rates. Standard plan customers can make a set amount of exchanges each month at a specified rate, with a fair usage fee applying if they exceed this amount. The cost for exchanges outside the foreign exchange market hours is higher, at 1.0%.
Eligibility Criteria and Requirements
To create an account, you must be at least 18 years old and a legal resident of the U.S. If you’re between 6 and 17 years old, check out the <18 Revolut accounts for young users.
Additionally, they’ll need some basic info from you, like your current address, date of birth, full name, and citizenship. Plus, you’ll need to provide your mobile phone number and a valid email address to stay connected.
Proof of identity is necessary for account verification. Make sure to upload a supported government-issued document listed on the submission screen. It must be valid and match the name on your Revolut account. If your nationality differs from your address, additional proof may be requested.
You might also need to complete selfie authentication. Additionally, they may ask for information about the source of funds for your account.
Revolut Account Application Process
Starting your Revolut journey is easy – visit their website, download the app or sign up to get started. Remember, though, that if you have a single personal account, you’re restricted to having only one Revolut account, regardless of location. Once your account is set up, you can convert it into a Joint Account or explore the Pro Accounts option.
