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 offers banking services to customers through mobile apps. It was founded in 2015 by Vlad Yatsenko and Nikolay Storonsky. Their goal is to make banking easier for customers. The company also offers a range of financial services.
Revolut has received a lot of investment, which has enabled the company to build innovative banking and money transfer 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. 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. Once they’re set up, they can use Revolut for contactless payments and Apple Pay.
Is it safe?
There is a great deal of uncertainty surrounding Revolut and the security of your account. Revolut takes many precautions to protect your account, but fraud can still happen. It’s essential to exercise common sense and apply basic precautions, including keeping your passwords and account information secure. 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 is standard procedure for most financial service providers and is designed to prevent fraud. This process consists of uploading a photograph of your ID with Revolut. This could be a selfie, or an official government-issued ID.
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. Revolut also allows you to get a loan or credit card. 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 an excellent feature for people who want to have control over their finances.
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 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. However, you should not call this number if you have an urgent issue or are unsure of what to do with your account. Live chat is available in Revolut’s app, but you must be logged in to use it.
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. Despite the low fees, there are some drawbacks. There is no physical branch network or full financial protection (FSCS) coverage.
The app for Revolut is easy to use and has an intuitive design. It also offers a virtual card to make purchases online. You can also get instant personal loans and stock trading in the USA without commissions. However, if you are going to use the service abroad, make sure to check the exchange rate first as this can vary greatly.