What is Revolut? Digital Banking Card & App Review

I’ve been a Revolut user since September 2018 and, since then, I’ve been telling anyone who’ll listen to me about how much I love it.

Revolut is an app with a pre-paid credit card linked to it, but there’s so much more to it than that. With this blog post, I want to tell you everything there is to know about Revolut including:

1. Why I recommend Revolut to all of my family and friends
2. How to Sign up for Revolut and top up
3. Differences between the 3 types of Revolut cards: Standard, Premium and Metal
4. Why it’s different (and better :p) to your regular bank

Downloading The Revolut App

You can download the Revolut app from Google Play or the App Store. It has Apple Pay and is compatible with Apple Watches, iPhones and iPads with iOS 10 or more, and phones with Android 6.0.

Getting Started On Revolut

Cards start at €5.99. Here’s how you get started.

Step 1: Click here and enter your mobile number. You’ll be sent a link to download the app

Step 2: Download the App and follow the instructions on screen (very self explanatory)

All you need to sign up is your contact details and to verify your identity, you just take a picture of your ID! Why can’t banks be as straight forward as that? So easy!

Once you have topped up, you can order a Revolut card through the app. Just go to ‘Cards’, choose ‘Physical’, and follow the instructions.

Topping Up Your Revolut

After signing up here, topping your Revolut card up is easy. Simply link your main bank account to your Revolut card (by completing the instructions within the app), tap ‘Add Money’ on the accounts section, select how much you want to top up by.

How to Use Your Revolut Card

Your physical Revolut card will be posted out to you within a couple of days, but you can use the virtual card for online shopping IMMEDIATELY and make instant transfers.

Yes, you can send and receive funds to and from other users instantly (not like having to wait 3-5 working days when transferring between regular banks).

Before using your physical card for the first time, you’ll need to activate it by making a transaction at an ATM. Then you are good to go!

You can use it exactly like you would your regular debit or credit card. It has contactless payments and you can withdraw cash from ATMs for free (there’s a limit but we’ll cover this below). This benefit is particularly beneficial for those of us who travel often and are hit with those stupid ATM withdrawal fees!

Why I Love Revolut

The Revolut app has so many features; way more than your conventional banking apps. Here are some of my favourites.

Instant Transfers

Long gone are the days of waiting 3 to 5 days for a transfer to go through. Honestly, who actually has time for that carry on! With Revolut, you can transfer instantly and the app picks up other Revolut users around you so you don’t even have to set anyone up! The person you’re transferring to has to have Revolut themselves.

Analytics

If you’re like me and pay for everything by tapping your card, then Revolut’s Analytics will help you keep track of where your few bob is going.

Revolut automatically categorises your purchases under headings like ‘Groceries’, ‘Entertainment’ and ‘Shopping’, so you can easily see where you’re spending (no prizes for guessing my most popular category :P).

Vaults

Vaults are essentially savings accounts, which you can choose to fund as a ‘once-off’ or as a ‘recurring’ payment. This is by far my favourite feature.

There’s also a special feature which automatically takes the spare change from your transactions (e.g. a cup of coffee that costs €2.80, .20c is the spare change) and deposits it into the Vault of your choice. This is a really cool way of saving without even realising it. You can even choose to multiple your spare change by 2, 5 or 10, to save even more.

Group Vaults

Group Vaults work in the exact same way; except multiple people can save into a shared Vault. This is handy if you’re going on a group trip, or if you and your partner are saving for a holiday. Darren and I have one, and it really does give you a boost when you see your savings tally go up.

Split Bills

Let’s say you and your friends are out for a bite to eat, when it comes time to pay the bill, you don’t want to deal with the awkardness of everyone paying separately. So you can pay for the entire bill using your Revolut card and then afterwards, you can tap ‘Split Bill’, and select who you want to split the bill with (the app finds people automatically!).

Your friends will then be notified and they can pay you straight away through the app. It’s really very handy but the only thing is your friends have to be on Revolut.

Other Revolut Features

Budgeting

The Budgeting feature allows you to set spending limits and sends you warnings when you’re close to hitting them. I haven’t tried this feature yet, I don’t need that sort of negativity in my life ha!

Cryptocurrencies

Now, I don’t have a clue about cryptocurrency (Bitcoin for example), but you can buy and sell it via the Revolut app, if you’re into that kinda thing.

Currency Exchange

Again, this is ideal if you travel often. Revolut gives you an “intra-bank” exchange rate which is basically the same exchange rate as banks give to one another (cheap!). This means it works out cheaper to convert your currency on Revolut than anywhere else! Before you go away (or during your trip), you can exchange currency and keep it separately in the app like so…

Trading

‘Metal’ account holders can now buy and sell stock/shares. Again, not my forte, but another feature that sets Revolut apart from other banking apps.

Types of Revolut Accounts

Standard

The standard account will suit most people, as it’s free, and allows you to do 99% of what the app is good for. Here are some of the benefits of the standard account.

• Costs nothing per month
• Spend in over 150 currencies at the interbank exchange rate
• No fee exchange in 29 fiat currencies up to €6,500 per month
• No cost ATM withdrawals up to €300 per month

Sign up for a Standard Card here.

Premium

Yes, there are a few more perks with a Premium Revolut account, but again, I personally am not too sure what use I’d get out of the below. They more nice to haves, that must haves, plus it costs €10 per month. Some of the benefits of Premium are:

• Spend in over 150 currencies at the interbank exchange rate
• Overseas medical insurance
• Travel insurance
• Unlimited exchange in 29 fiat currencies – no monthly limit
• No cost ATM withdrawals up to €600 per month
• Global express delivery
• Priority customer support
• Premium card with exclusive designs
• Disposable virtual cards
• LoungeKey Pass access

Sign up for a Premium Card here.

Metal

By far the best thing about this account if the fact that you’re entitled to the slick and stylish metal card.

They really are gorgeous, but worth the €14.99 per month price tag? ONLY IF you travel often. Here’s what the Metal Revolut account gets you:

• Spend in over 150 currencies at the interbank exchange rate
• Overseas medical insurance
• Travel insurance
• Free Airport Lounge access
• Unlimited exchange in 29 fiat currencies – no monthly limit
• No cost ATM withdrawals up to €900 per month
• Priority customer support and concierge service (you send them a message and they can make bookings for you)
• Exclusive Revolut Metal card (SLICK!)
• Disposable virtual card
• 1% cashback on all card payments

Sign up for a Metal Card here.

Are you Converted?

Revolut is one of my favourite apps, and perhaps one of the most used apps I have. It’s so handy and is subjected to the same laws and regulations as your regular bank; so you have nothing to fear in terms of its legitimacy.

Thanks for reading as always and if you’ve any questions at all, please leave them below and I’ll get back to you!

Revolut is one of my top travel essentials. To read about more of the things I can’t travel without, click here.

If you enjoyed reading this post, check out loads more at Live Lavishly.