Revolut Review – What You Need to Know
If you’re planning to make a money transfer, you might want to check out Revolut. The app has over 30 currencies available and calculates exchange rates using the Interbank Exchange Rat. 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 is a financial technology company based in London, United Kingdom. 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. The company also offers a range 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. 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.
To use Revolut, customers must download its app. It offers easy signup and verification tools. To use the app, users must take a photo of a government-issued identification. Once they have verified their identity, they can then request a contactless Revolut card. 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. While Revolut uses several precautions to keep your account safe, fraud is always an option. It’s essential to exercise common sense and apply basic precautions, including keeping your passwords and account information secure. 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 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 can be a selfie or an official government issued ID.
App
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. Revolut is available worldwide without fees. You can also get a credit card or loan with Revolut. You can also send money internationally with Revolut, which is about 10 times cheaper than using a traditional bank.
Revolut’s customer service is excellent. 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 a great feature for those who like to be in control of 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. 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.
Customers of Revolut can also call the customer service number at +442-033-228-352. Though the number is automated, it can be used to get account information, block cards, or block cards. If you need immediate assistance or are unsure what to do about your account, however, it is best not to call this number. 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. We’ll be looking at the fees and how they impact your spending in this Revolut Review. There are some downsides to the low fees. There is no physical branch network or full financial protection (FSCS) coverage.
Revolut’s app is simple to use and intuitive. It also offers a virtual card to make purchases online. 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.