Revolut Review: What You Need To Know
Revolut is a great option if you are looking to send money. 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. Their bill tracker feature allows you to calculate how much money is owed.
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 by Nikolay Storonsky and Vlad Yatsenko in 2015. 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. 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. The app provides 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?
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. Revolut will ask you to upload a photo of your ID. This can be a selfie or an official government issued ID.
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. There are no fees to use Revolut abroad. You can also get a credit card or loan with Revolut. 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. 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.
Revolut’s customer service is a top priority. Customers can ask any questions via the 24/7 chat feature. They believe that the best support comes from direct contact with customers. Their customer support agents are trained to provide high-quality support through extensive training programs. 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.
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. Live chat is available in Revolut’s app, but you must be logged in to use it.
Revolut is a popular digital banking service that’s easy to use and very popular in the UK. However, there are 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.
Revolut’s app is simple to use and intuitive. You can also use the app to purchase online with a virtual card. 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.