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. You can also track your bills and divide them. Their bill tracker feature allows you to calculate how much money is owed.
What is Revolut?
Revolut is a financial technology company based in London, United Kingdom. It offers banking services to customers through mobile apps. It was founded by Nikolay Storonsky and Vlad Yatsenko in 2015. Their goal is to simplify banking services for consumers. They also offer a variety of financial services.
Revolut has been able to attract a lot of capital, which has allowed it to develop innovative money transfer and banking services. Financial Conduct Authority (FCA) regulates the company, which means funds are protected with them. All client funds are stored in a separate account at Barclays and Lloyd’s. The company follows the rules and regulations set out by the Payment Services Regulations 2017 and Electronic Money Regulations 2011 to safeguard clients’ funds. It offers no hidden fees for its services, although users will need to pay for Premium and Metal subscriptions. In addition, they charge fair usage fees for using their services outside of 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 receive a UK account number and sort code. After they have been set up, they will be able to use Revolut to make contactless payments or Apple Pay.
Is it Safe?
Revolut’s security and safety are uncertain. 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. Fraudulent companies target all financial services platforms, and Revolut is no different. Revolut employs both automated and manual fraud prevention methods to combat fraud.
First of all, Revolut uses a verification process to verify that you are a real person. This verification process is used by most financial service providers to protect against fraud. This process consists of uploading a photograph of your ID with Revolut. This could be a selfie, or an official government-issued ID.
App
Revolut makes it possible to send international money via bank transfer or credit card. It supports over 140 currencies and works with all MasterCard enabled ATMs. 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. You can contact them 24/7 if you have any questions or problems with your account. 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.
Customer Service
Revolut’s customer service is a top priority. Their 24/7 in-app chat service allows customers to ask questions at any time. Direct contact with customers is the best way to get support. Through extensive training, customer service agents are equipped to provide top-quality support. They shadow customer service agents to gain valuable customer experience as well as technical skills. They also promote an open, transparent environment where agents can learn from each other.
Customers of Revolut can also call the customer service number at +442-033-228-352. Although the number is automatic, customers can still call it to obtain account information, block card information, and 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.
Fees
While Revolut may be one of the most popular and easy-to-use digital banking services in the UK, you should know that it also carries some fees. In this Revolut Review, we’ll look at these fees and how they affect your spending. Despite the low fees, there are some drawbacks. These include the lack of a physical branch network and the lack of a full financial protection scheme (FSCS) cover.
The app for Revolut is easy to use and has an intuitive design. 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. If you plan to use the app abroad, be sure to verify the exchange rate as it can fluctuate greatly.