Revolut Review – What You Need to Know
If you’re planning to make a money transfer, you might want to check out Revolut. 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. You can even calculate how much money you owe by using their bill tracker feature.
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 in 2015 by Vlad Yatsenko and Nikolay Storonsky. Their goal is to simplify banking services for consumers. 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. The company is also regulated by the Financial Conduct Authority (FCA), which means that funds are safe with them. All client funds are stored in a separate account at Barclays and Lloyd’s. To protect clients’ funds, the company adheres to the Payment Services Regulations 2017 (and the Electronic Money Regulations (2011)). 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.
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 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?
Revolut’s security and safety are uncertain. While Revolut uses several precautions to keep your account safe, fraud is always an option. 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 verification process is used by most financial service providers to protect against fraud. Revolut will ask you to upload a photo of your ID. 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 works with all MasterCard-enabled ATMs and supports more than 140 currencies. Revolut is available worldwide without fees. 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. The app is very user-friendly and enables you to track payments from any location 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. 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 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.
Revolut customers can also call their customer support number, +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. 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. However, if you are going to use the service abroad, make sure to check the exchange rate first as this can vary greatly.