Note: Every once in a while the link above will provide a Revolut Referral Code but Revolut promotions rarely provide incentives to new signups – But we guarantee that signing up for Revolut is a fantastic idea 🙂 – It’s one of our recommended brands on Referandsave and signing up using the link above will help keep the lights on at Referandsave HQ.
What is Revolut?
Revolut is a revolutionary digital finance platform designed to make all things money easier, cheaper, and more efficient than ever before. The platform offers several benefits compared to traditional banking, such as transparent fees, instant transfers, and access to multiple currencies. With Revolut, users can manage their finances more effectively and efficiently whilst also benefitting from advanced security measures, low commission rates, and a streamlined user interface.
Revolut promises a wide range of financial services designed to meet the needs of individuals and businesses, including instant interbank exchange rates, unlimited free transfers between users, cash-back rewards, travel insurance, and much more. This really is one of the first one-stop finance apps available in the UK.
Revolut is available as an app for both Android and iOS that allows users to manage their finances from anywhere in the world at any time. With Revolut, you can send money worldwide for free, exchange currencies instantly at the interbank rate, and hold multiple currencies at the same time. You can also make payments immediately with a contactless card that works both online and offline. With Revolut, you can also manage your spending, budgeting, and savings, get insights into your financial health and set up notifications to stay informed about your finances. You can also open an account for your business and receive payments from your customers, pay suppliers, and manage your finances more effectively. In short, Revolut is a convenient, easy-to-use platform designed to simplify your finances.
Benefits of using Revolut
There are many benefits associated with using Revolut:
Free Service: No monthly fees on the free plan. A number of Revolut’s financial services are free, including transfers to other Revolut users, ATMs withdrawals, and more!
International Transfers: Most transfers between banks can take several days to process. However, Revolut can transfer money between users and accounts much sooner (although it can take upto 5 days, so you can see your transactions on your balance immediately.
Interbank Exchange Rate: Revolut offers an instant interbank exchange rate that allows you to trade currencies immediately and at the best possible rate. So if you need to send money to another country, you’ll get the best possible rate on the market instantly. Access to Multiple Currencies – A Revolut account allows you to hold multiple currencies at the same time and exchange them instantly.
FREE Cash: Revolut run an highly successful referral programme. Unfortunately it usually only pays the referrer. Here is our Revolut Referral Code: https://revolut.com/referral/faisalh7p3!DEC1-22-VR-GB – Once you have signed up you will access to your very own and could earn up to £50 for every friend you invite to try Revolut
Revolut’s Features and Services
- With Revolut, you can manage your finances through a single, easy-to-use platform. You can make instant transfers (between Revolut users), exchange currencies at the interbank rate, and pay for goods and services through its integrated payment system.
- Transfers to others – Revolut allows users to send money worldwide for free, both to other Revolut users and to non-users. You can also send money to other banks for a small fee, although the fee will depend on your payment method.
- Exchange rates – With Revolut, you can instantly exchange between 25 currencies, including the Euro, U.K. Pound, U.S. Dollar, Swiss Franc, Japanese Yen, and more. You can also set up exchange alerts to stay informed about the current rates.
- Integrated payment system – Revolut allows you to pay for goods and services through its integrated payment system. You can use it to pay for flights, hotels, taxis, gift cards, movies, and more.
Revolut Security Measures
Revolut offers a range of security measures designed to protect its users and keep their money safe. These include fraud detection, automatic wifi lock, two-factor authentication, and a PIN code feature.
Fraud Detection: Revolut keeps an eye out for suspicious activities in your account and can shut it down if it detects anything unusual. If you’re flagged for suspicious activity, you’ll receive an alert, and you can call Revolut to report your account has been compromised.
Automatic wifi lock: If you don’t log out of the app, it will automatically log you out when you’re not connected to a wifi network. This helps ensure your account is secure even when you’re not using it.
Two-factor authentication: This is one of the best ways to protect your account. With two-factor authentication, you’ll log in with your username and password, and then enter a code sent to your phone via an app like Google Authenticator. This helps keep your account secure even if your username and password are somehow compromised.
PIN code feature: With the PIN code feature, you can add an extra level of security to your Revolut account. You’ll need to enter a code before you can use certain features, like transferring money or making a payment.
Revolut Commission Rates
One of the main advantages of using Revolut is that it charges no commission, which means you receive the best possible exchange rate. This differs from banks, which charge a commission rate, often up to 3%, that reduces the amount of money you receive when you make a transaction. In addition, Revolut charges no fees for sending or receiving money in any currency. This differs from other services like PayPal, which charges a percentage fee for each transaction.
Revolut’s Streamlined User Interface
Revolut’s streamlined user interface makes it easy to use and understand. To log in, you simply enter your phone number, and you can also use an email address or the app. You can add a card to your account by entering your name, email, phone number, and a 4-digit PIN. You can add multiple cards for your account, and these will be used for different types of transactions, like buying goods or sending money. The navigation bar at the bottom of the app allows you to access your Account, Wifi Lock, Security, Cards, and Settings. The Account tab allows you to view your recent transactions and set up spending alerts and notifications. The Wifi Lock tab lets you log out of your account if you’re not connected to a wifi network, and the Security tab shows your account’s current security status. Finally, the Cards tab allows you to add, remove, and view your different credit or debit cards. And the Settings tab lets you change your profile and select your preferred currency.
How to Get Started with Revolut
To get started with Revolut, you’ll need to download the app, create an account, and add a payment method. We hope you use our Revolut referral link to download and signup for the app. Although Revolut does not incentivise new signups we will receive a fee if you use our Revolut referral link. First, download the app and create an account with your phone number. This is a quick and easy process, and you don’t need a passport or ID to open an account. Next, add a payment method such as a debit card or credit card. Then, fund your account with money to start using Revolut. You can do this by linking a bank account to your Revolut account or sending money to a friend. Finally, you can now make transfers, exchange currencies, buy goods and services, and manage all aspects of your account from the app!
Popular Use Cases for Revolut
There are many uses for Revolut, including sending money, managing your spending, and budgeting. Sending money – Revolut allows you to send money to other Revolut users instantly and for free. Managing your spending – Revolut lets you track your spending and set up notifications to keep you informed about your finances. Budgeting – Revolut lets you create budgets and manage your finances effectively.
Revolut’s Global Reach
Revolut is available in Europe and Asia, including the United Kingdom, France, Germany, Spain, Italy, Singapore, Taiwan, and Hong Kong. Users can download the app in their country’s app store, and they also have the option of downloading the app in any other country. If you download the app in another country, you’ll see the same features and services as users. Don’t forget to use our Revolut Referral Code to signup to help out Referandsave: HERE
Disclaimer: The information contained in this article does not constitute financial advice or recommendation and should not be considered as such. Referandsave is not regulated by the Financial Conduct Authority (FCA), its authors are not financial advisors and it is therefore not authorised to offer financial advice.