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. You can also track your bills and divide them. You can even calculate how much money you owe by using their bill tracker feature.
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 by Nikolay Storonsky and Vlad Yatsenko in 2015. Their goal is to make banking easier for customers. They also offer a variety 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.
Customers must download the app to use Revolut. The app provides 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. After they have been set up, they will be able to use Revolut to make contactless payments or 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 verification process is used by most financial service providers to protect against 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 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. 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 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 an excellent feature for people who want to have control over their finances.
Customer Service at Revolut is a major priority at the company. Customers can ask any questions via the 24/7 chat feature. 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 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.
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. If you need immediate assistance or are unsure what to do about your account, however, it is best not to call this number. Revolut offers live chat, but you need to be logged into the app to access 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. There are some downsides to the low fees. 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.