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, 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. They also offer a variety 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. 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. The company follows the rules and regulations set out by the Payment Services Regulations 2017 and Electronic Money Regulations 2011 to safeguard clients’ funds. 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. The app provides easy signup and verification tools. The app requires users to provide a picture of a government-issued ID. 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?
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. 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. Revolut will ask you to upload a photo of your ID. This can be a selfie or an official government issued ID.
App
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. 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
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 customer service agents to gain valuable customer experience as well as technical skills. They encourage openness and transparency so that agents can learn from one another.
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. Revolut offers live chat, but you need to be logged into the app to access it.
Fees
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. These include the lack of a physical branch network and the lack of a full financial protection scheme (FSCS) cover.
The app for Revolut is easy to use and has an intuitive design. You can also use the app to purchase online with a virtual card. 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.