Revolut money transfer review & guide

Q: What is Revolut and how does it work?

Revolut is a digital financial service platform that allows users to manage their money globally by sending money, making payments, and handling multiple currencies. With its user-friendly app, users can access a variety of features, including international money transfers, cryptocurrency trading, and financial planning.

Q: How long do Revolut transfers take?

Most transfers via Revolut are processed instantly, particularly transfers between Revolut users, which can be completed in under 20 seconds. However, SWIFT transfers may take up to 5 business days due to intermediary banks and specific regulations.

Q: What countries and currencies are supported by Revolut?

Revolut operates in over 140 countries, allowing users to send money and hold multiple currencies. Supported currencies include AED, AUD, BRL, CAD, CHF, EUR, GBP, JPY, INR, USD, and many more, making it an excellent choice for global financial management.

Exchange rates, payment options, step-by-step guide, transfer fees, and all you need to know about .

Trademark Disclaimer: Revolut* with whom RemitBee Incorporated (“We,” “Us,” “Our”) has no direct or indirect association in marketing, sales or customer service. Indeed, the enclosed contents are provided only for information and comparison purposes. We further state that all third-party products, services, company names and logos remain the property of their respective holders. Use of them here in this article does not imply any affiliation with or endorsement by them.

Everything you need to know

Revolut review

Revolut is a digital financial service platform that offers a wide range of tools for spending, saving, investing, and managing money globally. Founded in 2015 by Nik Storonsky and Vlad Yatsenko, Revolut was designed to simplify the complexities of finance, providing a seamless way to send money, make payments, and manage multiple currencies

Payment Methods Available with Revolut

Revolut currently supports these payment options:

Revolut account

Debit/Credit Card (MasterCard/Visa)

Apple Pay

Google Pay

How much can I transfer with Revolut?

Your Revolut subscription plan determines your monthly exchange allowance, which impacts how much you can send or exchange each month.

Standard Plan

With the free Standard plan, users can exchange up to £1,000 per month without incurring fees.

Plus Plan

The Plus plan increases your allowance to £3,000 per month for fee-free exchanges.

Premium, Metal, and Ultra Plans

Users on these higher-tier plans do not have a set limit for currency exchanges.

How long does a transfer usually take with Revolut?

Revolut transfers are typically processed instantly and can often be completed in just a few minutes. However, some transfers may take up to 5 business days, though this is less common. Delivery times can be influenced by factors such as bank processing times, public holidays, or specific regulations, but overall, Revolut ensures that most transactions are swift and seamless.

Pros and Cons of using Revolut

Pros

Attractive rates for cost-effective international transfers.

Transfers complete in under 20 seconds between users.

Send money to over 140 countries.

Hold and manage over 25 currencies.

Cons

Exceeding plan limits incurs additional fees.

Some currencies like USD and AUD cannot be funded directly.

Certain currencies have transfer limits.

SWIFT and ACH transfers may incur extra fees.

Revolut Transfer Fees

Revolut offers fee-free local and international transfers within the limits of your plan. If you exceed your plan’s allowance, the following fees apply:

Transfers within the same country in the local currency cost €0.20.

I Payments to other countries or within the same country but in a different currency incur a €5 fee.

These apply if you exceed your plan’s allowance.

Transfers between countries in the EEA within the SEPA network are treated as local transfers and are fee-free.

How it works

How does Revolut make money?

Revolut generates revenue through multiple streams. It offers subscription plans—Standard (free), Premium, and Metal which provide users with additional benefits like higher limits and exclusive perks. The platform earns from foreign exchange markups, especially on weekends or for certain currencies, and from interchange fees on card transactions.

Revolut also makes money from commissions on cryptocurrency trades and stock investments.

Revolut exchange rates

Revolut typically offers exchange rates at the interbank rate, which is the rate major banks use to trade currencies, during weekdays when markets are open. However, a small markup may apply depending on the circumstances. If you exceed your free allowance, a 0.4% markup is added to foreign exchange transactions. Additionally, on weekends, when market liquidity is lower, Revolut applies a 1% markup to all currency exchanges. The amount of free currency exchange available depends on your Revolut plan, so it's important to check the specific details of your plan for the free allowance.

Best rates with RemitBee

RemitBee makes sending money abroad simple, fast, and affordable. With transparent fees and no hidden charges, it offers competitive pricing for international transfers. You can choose from multiple payment methods and benefit from the mid-market exchange rate, which ensures you get the best value for your money.

Transfers are secure, with top-level encryption protecting your data and funds. Whether you're sending money to family or handling business transactions, RemitBee ensures a smooth, reliable experience every time.

Safety and security

Is Revolut money transfer secure?

Revolut is a secure platform for sending money internationally, ensuring the safety of your transactions. The platform uses strong encryption and complies with regulatory standards to provide a secure transfer experience for both personal and business users.