You can open a Revolut business account online in just a few minutes, making it extremely easy to start managing your business payments and transfers. It offers both no cost and paid plans that cater to self-employed freelancers as well as large, multinational corporations.
Revolut’s cash back rewards program lets you earn at least 1.5% cash back on all payments made with your card, regardless of your plan type. If you opt for a paid plan, you can earn up to 1.9% cash back on purchases up to a certain monthly threshold (varies by plan), after which point you earn 1.5% cash back on all additional purchases that month.
No matter the size of your business, Revolut has the tools you need to track and manage your business payments and expenses. Issue physical or virtual cards to team members and manage spending limits and permissions from your mobile app or computer.
Revolut also supports a wide range of business API integrations. From bulk payment managers to invoice tracking and expense reports, Revolut has you covered.
Since 2015, Revolut has expanded its operations to include a wide range of services. In addition to prepaid card accounts and debit cards, Revolut also supports currency exchange, and peer-to-peer payments.
As an online finanacial technology company, Revolut does not have any physical branches. However, it does allow you to withdraw cash from over 55,000 in-network ATMs across the United States (fees may apply). Funds sent via wire are usually available the same day or the following business day. But it can take up to three business days for funds sent via ACH to appear.
Revolut’s online business account is available in both a no cost and paid version. A no cost account comes with basic features and charges no monthly fee, while prices for paid plans vary depending on your company type and the number of included features.
If you’re a freelancer, you can choose between the Professional plan for $9.99/month or the Ultimate plan for $39.99/month. Revolut also offers three paid plans for companies, including the Grow plan for $39.99/month and the Scale plan for $149.99/month. Alternatively, you can opt for the Enterprise plan (price varies) and have Revolut make a custom account for you that meets the needs of your business.
In addition to monthly account fees, Revolut charges several transaction fees. These include a $10 domestic wire fee, $0.20 local ACH payment fee, $3.00 international transfer fee, and 0.4% markup on foreign currency exchanges. That said, Revolut may waive a set number of transaction fees each month depending on your plan type
|Plan Type||Monthly fee||Number of no cost local payments per month with no $0.20 fee||Number of no cost international payments per month with no $3.00 fee||Monthly allowance to avoid 0.4% markup on foreign currency exchanges|
You can contact Revolut’s customer service team 24/7 via chat through the Revolut mobile app or website. For priority chat support, upgrade to one of Revolut’s paid Freelancer or Company plans. Alternatively, you can visit the Help page on Revolut’s website to learn about business cards and payments, money transfers, setting up and managing your account, integrating apps, and more.
You can download Revolut’s mobile device on both Android and iOS devices. With the Revolut mobile app, you can manage and track payments, transfer and exchange money, or set up account permissions and spending limits on the go.
Revolut Business' mobile app has a score of 4.5 stars on the Google Play store, with many positive reviews mentioning its excellent security features and foreign currency exchange tools. Although Revolut doesn’t accept mobile check deposits, its app makes it easy to wire or transfer money to and from your Revolut business account.
All Revolut business accounts are FDIC insured up to $250,000. Every time you log in, Revolut requires you to provide a pin/passcode or biometric (finger or facial recognition) as well as a one-time SMS passcode (two-factor authentication). You can further protect your account by setting virtual card limits or adjusting team member spending permissions through the Revolut mobile app.
With Revolut’s virtual disposable cards, you never have to worry about criminals skimming your card details. If you discover suspicious activity on your account, Revolut allows you to instantly freeze transactions, buying you time for additional research.
Revolut offers no cost and paid accounts for businesses of all shapes and sizes. You can manage or track payments, exchange foreign currencies, and create secure payment processes with spending limits and virtual cards. Whether you want a basic plan or a custom plan with API integrations that meet your business objectives, Revolut has the right business account for you.
This review was created based on information gathered from Revolut’s website and from customer reviews.
The Revolut USA Prepaid Mastercard is issued by Metropolitan Commercial Bank pursuant to a license from Mastercard International and may be used everywhere Mastercard is accepted. Banking services are provided by Metropolitan Commercial Bank, Member FDIC, and are subject to the terms of a Cardholder Agreement. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank© 2014. Revolut Technologies Inc. is a technology services provider and administrator of the card program.