Revolut Review: What You Need To Know
Revolut is a great option if you are looking to send money. This app offers over 30 currencies to choose from and uses the Interbank Exchange Rate to calculate exchange rates. It also allows you to track bills and split them. Their bill tracker feature allows you to calculate how much money is owed.
What is Revolut?
Revolut, a financial technology company located in London, United Kingdom is called. It provides banking services to customers via mobile apps. It was founded by Nikolay Storonsky and Vlad Yatsenko in 2015. Their goal is to make banking easier for customers. They also offer a variety of financial services.
Revolut has received a lot of investment, which has enabled the company to build innovative banking and money transfer services. Financial Conduct Authority (FCA) regulates the company, which means funds are protected with them. The company stores all client funds in a segregated account at Barclays or Lloyd’s. To protect clients’ funds, the company adheres to the Payment Services Regulations 2017 (and the Electronic Money Regulations (2011)). There are no hidden charges for the services of the company, but users will have to pay premium and metal subscriptions. They also charge fair usage fees to use their services beyond account limits and for exchanging currencies.
Customers must download the app to use Revolut. It offers easy signup and verification tools. To use the app, users must take a photo of a government-issued identification. After verifying their identity, users can request a contactless card from Revolut. They will also be provided with a UK account number as well as a sort code. Once they’re set up, they can use Revolut for contactless payments and Apple Pay.
Is it Safe?
There is a great deal of uncertainty surrounding Revolut and the security of your account. Revolut takes many precautions to protect your account, but fraud can still happen. It is important to use common sense and take basic precautions such as keeping your passwords and account information safe. Revolut is not an exception to the rule. Fraudulent financial companies target all financial service platforms. To combat fraud, Revolut uses automated and manual fraud prevention measures.
Revolut first uses a verification process in order to confirm that you are real. This is standard procedure for most financial service providers and is designed to prevent fraud. This process consists of uploading a photograph of your ID with Revolut. This could be a selfie, or an official government-issued ID.
Revolut allows users to make international payments by credit card and bank transfer. It works with all MasterCard-enabled ATMs and supports more than 140 currencies. There are no fees to use Revolut abroad. Revolut also allows you to get a loan or credit card. Revolut allows you to send money internationally, about 10x cheaper than traditional banks.
Revolut’s customer support is outstanding. If you have any problems or questions regarding your account, you can reach them round the clock. It is easy to use and allows you to track your payments from anywhere in the world. This is an excellent feature for people who want to have control over their finances.
Revolut’s customer service is a top priority. Their 24/7 in-app chat service allows customers to ask questions at any time. They believe that the best support comes from direct contact with customers. Through extensive training, customer service agents are equipped to provide top-quality support. They shadow existing customer service agents and gain valuable customer experience and technical skills. They also promote an open, transparent environment where agents can learn from each other.
Revolut customers can also call their customer support number, +442-033-228-352. Though the number is automated, it can be used to get account information, block cards, or block cards. However, you should not call this number if you have an urgent issue or are unsure of what to do with your account. Revolut offers live chat, but you need to be logged into the app to access it.
Revolut is a popular digital banking service that’s easy to use and very popular in the UK. However, there are fees. We’ll be looking at the fees and how they impact your spending in this Revolut Review. Despite the low fees, there are some drawbacks. There is no physical branch network or full financial protection (FSCS) coverage.
Revolut’s app is simple to use and intuitive. You can also use the app to purchase online with a virtual card. The app also offers commission-free US stock trading and instant personal loans up to EUR30,000. However, if you are going to use the service abroad, make sure to check the exchange rate first as this can vary greatly.