Revolut Review: What You Need To Know
If you’re planning to make a money transfer, you might want to check out Revolut. 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. 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 provides banking services to customers via 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. 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 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?
Revolut’s security and safety are uncertain. While Revolut uses several precautions to keep your account safe, fraud is always an option. It is important to use common sense and take basic precautions such as keeping your passwords and account information safe. Fraudulent companies target all financial services platforms, and Revolut is no different. 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. This process consists of uploading a photograph of your ID with Revolut. 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 works with all MasterCard-enabled ATMs and supports more than 140 currencies. Revolut is available worldwide without fees. You can also get a credit card or loan with Revolut. 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. 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 a great feature for those who like to be in control of their finances.
Revolut’s customer service is a top priority. 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 existing customer service agents and gain valuable customer experience and technical skills. They encourage openness and transparency so that agents can learn from one another.
Revolut customers can also call their customer support number, +442-033-228-352. Though the number is automated, it can be used to get account information, block cards, or 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. We’ll be looking at the fees and how they impact your spending in this Revolut Review. 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. 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.