Revolut is one of the best-known start-ups in the banking sector and offers its users many advantages. What exactly Revolut is and how this app can give you a big advantage in everyday life and when travelling, is explained in this article.
Revolut is an app that was developed in the UK 5 years ago. The app promises innovative products within the banking industry. The goal of Revolut is to create a transparent and fair platform to support the global use and management of money. In 2018, the company acquired a European banking license in Latvia and is therefore secured for up to €100,000 according to European standards.
How does Revolut work?
In order to be able to use Revolut, it is absolutely necessary to download the app on your own smartphone. Registration takes just a few minutes and no proof of creditworthiness is required to open an account. This means that opening an account is already much quicker and easier than with conventional banks. As soon as you have downloaded the app and opened your account, you can already use your current account. Now you can immediately load money onto your account and transfer money, deposit credits with other merchants or make payments by bank transfer or direct debit. Just note that in order to make payments, you must first load money onto your current account.
What are the benefits of using the Revolut app?
This modern app offers its users many interesting advantages, especially in terms of the fee structure. The opening of the current account is free of charge and also the further use costs nothing. Furthermore, the use of the prepaid credit card, which can be easily ordered at home, is also completely free of charge. As soon as the card arrives, there are further advantages. The Revolut credit card allows you to withdraw up to 200 euros or 200 British pounds from ATMs completely free of charge. Above this amount, a 2% fee is charged. Another exciting advantage is that the Revolut credit card allows all payments in foreign currencies free of charge. If you use the card in another country where the euro is not the local currency, you don’t pay any fees.
Other benefits include the use of 30 different currencies, free currency exchange in 30 currencies up to €1,000 per month, transfers to more than 30 countries at a reasonable exchange rate and possibility to link the card with Apple and Google Pay.
The Revolut app offers many advantages, but for whom is the credit card most worthwhile?
Especially for people who love to travel and spend a lot of time in other countries or even work remotely abroad Revolut can be a gamechanger. Thanks to the elimination of foreign currency fees, the very good exchange conditions and the free cash withdrawal worldwide, globetrotters have the chance to save a lot of money. The Revolut app is also recommended for young people and people with a low credit rating, as they do not have to undergo a credit check to use the card.
With its user-friendly design and flexibility, the Revolut app has already won over 8 million customers worldwide and the prospects for a rapid increase are very good.
If the app has also aroused your interest, then feel free to download the app here: https://www.revolut.com
We wish you a lot of fun with this innovative and modern way of banking!
Angela
