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. You can even calculate how much money you owe by using their bill tracker feature.
What is Revolut?
Revolut, a financial technology company located in London, United Kingdom is called. 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 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. 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)). It offers no hidden fees for its services, although users will need to pay for Premium and Metal subscriptions. They also charge fair usage fees to use their services beyond account limits and for exchanging currencies.
Customers must download the app to use Revolut. It offers easy signup and verification tools. To use the app, users must take a photo of a government-issued identification. After verifying their identity, users can request a contactless card from Revolut. 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’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 is standard procedure for most financial service providers and is designed to prevent fraud. Revolut will ask you to upload a photo of your ID. This can be a selfie or an official government issued ID.
Revolut allows users to make international payments by credit card and bank transfer. It supports over 140 currencies and works with all MasterCard enabled ATMs. 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. You can contact them 24/7 if you have any questions or problems with your account. 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 at Revolut is a major priority at the company. 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. Their customer support agents are trained to provide high-quality support through extensive training programs. 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.
Customers of Revolut can also call the customer service number at +442-033-228-352. Although the number is automatic, customers can still call it to obtain account information, block card information, and 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. 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. In this Revolut Review, we’ll look at these fees and how they affect your spending. Despite the low fees, there are some drawbacks. These include the lack of a physical branch network and the lack of a full financial protection scheme (FSCS) cover.
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.