Best Account for travelers and international transfers
✔️ Excellent app interface and money management features
✔️ Standard account is completely free
✔️ Access to purchasing stocks, cryptocurrencies and commodities
✔️ Great cashback offers and discounts on top brands
✔️ Higher tiers of accounts come with excellent perks and insurance
Revolut Bank Review
Revolut is probably the most famous challenger bank to emerge from the UK with greatly deserved success.
Starting back in 2015 as just a basic travel card, Revolut has grown to an almost fully-fleded neobank that can provide you with almost any current account banking service you would want, and more.
Revolut is one of the best banking apps to have when it comes to money management and saving since you can set up automatic saving, budgets, weekly spending insights, and real-time push notifications every time a transaction from your account occurs.
All of this makes it a lot easier to be in complete control and manage your finances easily from one place in your phone. With Open Banking, you can even connect your other bank accounts to the Revolut app and manage things from the same application.
With Revolut you’ll also get access to amazing cashback and daily discounts with their partners in things like travel, retail, restaurants and more. So this will definitely help you save on money.
They pride themselves on you being able to transfer money internationally in any of their currencies without any hidden fees, using the real interbank exchange rate to make sure you don’t have to deal with pesky fees that other banks would charge you.
What is also cool with Revolut is that you can even buy cryptocurrencies like Bitcoin and exchange it into any fiat currency easily.
Beyond this, you can even gain access to buying commodities like gold or stocks like Apple or Microsoft via the app. Making access to the financial markets extremely easy for the everyday consumer.
Revolut also prides themselves in being one of the most secure places for your money as their award-winning anti-fraud system protects you from fraudulent transactions even better than traditional banks.
Additionally, the accounts also come with accounts you can manage and give access to your children, called “Revout Junior”, so that your children can start learning financial management and responsibility from a young age.
Their service comes in 3 tiers of accounts.
The Standard account is completely free, granting you access to all of the main benefits of Revolut without you ever having to spend a penny.
The Premium account costs £6.99 per month, with which you increase or even remove the limits on all of the services you had in the Standard account. On top of that, you gain access to multiple layers of insurance relating to travel such as medical, bagged, delayed flight and winter sports insurance.
If that wasn’t enough, you’ll even gain access to exclusive generous discounts at top brands, free lounge passes for when your flight is ever delayed for over an hour, and free unlimited cross border transfers.
If you want to be showered with perks, then the Metal account is definitely the option for you. Costing only £12.99 per month, you start to earn up to 1% cashback in any currency payments, including cryptocurrencies.
So if you fill enough volume in payments made monthly anyways, you might even end up saving more than it even costs to have the Metal plan in the first place!
On top of this, you’ll also have additional purchase protection for 180 days against theft and accidental damages as well as priority customer support and extensions to all the services already included in the Premium account.
For example, the previous airport lounge passes for delayed flights now extend beyond you to include up to 3 friends, or that the free Revolut Junior accounts can extend to up to 5 children now.
Revolut Bottom Line
Overall Revolut is an absolutely excellent banking option in the UK, especially for travellers or those who elsewise have to deal with receiving or sending payments in foreign currencies.
Their app is super simple to use and has security and benefits that are very hard to beat. Their customer satisfaction and service used to not be the absolute best before, but has now massively improved and customers are overall extremely happy with the service that comes with no cost.
Even for those that go for the paid plans, the benefits that come along bring back more than enough value to you that it makes it very much worth it. This is especially true when you can potentially save more money via the cashbacks and discounts than it costs to even pay the monthly fees.
The only possible downside is that you won’t have any in-person face-to-face support and will have to rely on the in-app chat or phone line support. But given they deal with questions or issues pretty well, you shouldn’t have any issues at all.