Who is eligible for a Revolut account?

Who is eligible for a Revolut account?

Normally you must be 18 or over to open a Revolut account. If you are under 18 and we let you have a Revolut account or any other service, we'll let you know any special terms and conditions that apply.

What are the cons of Revolut?

Revolut Cons

• When markets are closed at the weekend, fees are charged of 0.5% and 1% on currency exchange rates.
• Foreign Exchanges over £5000 cost 0.5%
• Free Cash withdrawals are limited to £200 per month.
• No physical bank branches.

Can Revolut keep your money?

As an authorised institution, Revolut safeguards your funds as per regulatory requirements. Safeguarding protects you because, in the unlikely event of the insolvency of Revolut, you will be able to claim your funds from this segregated account and your claim will be paid above all other creditors.

Can I cancel Revolut premium after 1 month?

If you are on the Monthly plan, you have the option for early termination any time within the first 10 months for a break fee of $19.98 on Revolut Premium or $33.98 on Revolut Metal.

What documents do I need for Revolut?

You will need to take a picture of a valid government-issued photo ID and a picture of your face. We may request a copy of your legal right to remain in your country (e.g. visa).

Can you use Revolut as a bank account?

With Revolut you can: Use it as a UK current account. You get a UK account number and sort code. You can set up recurring payments, withdraw cash at ATMs, make contactless payments, and use Apple Pay and Google Pay.

How reliable is Revolut?

Yes, Revolut is a legitimate company and a secure option to send money abroad. The company is authorized by the Financial Conduct Authority (FCA). However, your money is not covered by the Financial Services Compensation Scheme.

Can you get scammed on Revolut?

Revolut has warned users that account takeover scams and payment fraud are on the rise. The banking service has over one million users in Ireland and they've offered its users advice on how to prevent themselves from being scammed.

Is there a monthly charge for Revolut?

Revolut has a certain number of charges to be aware of: Monthly fees: You will pay no monthly fee for the Standard account, €2.99 for Plus, €7.99 for the Premium account and €13.99 for the Metal account.

How much does it cost to withdraw from Revolut?

• Free withdrawals up to 5 ATM withdrawals or £200 per rolling month (whichever comes first), then a fee applies. That fee is 2% of the withdrawal, subject to a minimum fee of £1 per withdrawal. Everyone on Revolut can send money in one way or another for free.

What happens if my Revolut balance is negative?

• Negative balances. In extremely rare cases, a customer may have a negative balance. This could happen, for example, when a shop authorizes a delayed payment. In these cases, we have the right to recover the money owed via the bank card used to add money to your Revolut account.

Can I open a Revolut account if I am under 18?

• Normally you must be 18 or over to open a Revolut account. If you are under 18 and we let you have a Revolut account or any other service, we'll let you know any special terms and conditions that apply.