Revolut is a well-known UK-based neobank (digital bank), founded in 2015 and headquartered in London by Nikolay Storonsky and Vlad Yatsenko. As of 2025, Revolut has over 50 million users and operates in approximately 48 countries and regions. It offers a wide range of financial services, including multi-currency accounts, international money transfers, currency exchange, stock trading, and cryptocurrency trading.

1. What is Revolut?

Revolut provides digital banking services via its mobile app. Users can open multi-currency accounts, use physical or virtual cards for spending, storing, and converting over 25 currencies, and access stock and cryptocurrency trading.

It is not only a digital bank but also frequently compared by users as one of the best remittance apps in 2025.

2. Countries and Regions Supported by Revolut

Revolut’s service network is extensive:

• Account Registration: As of 2025, Revolut allows account registration and services in approximately 48 countries and regions, covering multiple EEA countries, the UK, the US, Japan, Australia, New Zealand, Singapore, Brazil, and more. 

• Mobile Wallet Functionality: In certain markets, Revolut supports Mobile Wallets, enabling users to send money directly to global mobile wallet accounts using phone numbers or email addresses. For example, users in the UK and EU can transfer to Bangladesh (bKash) or Kenya (M-Pesa) accounts. 

While Revolut’s coverage is broad, users seeking low-fee international money transfer solutions may need to compare with other platforms.

3. How to Send Money with Revolut

1. Register an Account: Download the app and sign up for a Standard account (free plan) with no monthly fee. Some regions require identity verification to unlock transfer functionality.

2. Add Funds and Choose Recipient: Enter the transfer amount, destination country, and currency. The app will automatically display the fees and exchange rate.

3. Submit Recipient Information and Confirm: Fill in the recipient’s bank account or Mobile Wallet details and confirm the transfer.

4. Track Transfer Status: You can monitor the transfer status in the app. Revolut-to-Revolut transfers complete within seconds, while interbank transfers typically take 3–5 business days.

4. How to Receive Money with Revolut

Users can hold multi-currency accounts (e.g., USD, GBP, EUR) to receive local payments. Exchange fees between currencies are relatively low. The Standard plan includes a monthly allowance for fee-free currency exchange, with additional amounts charged at a proportional rate.

5. Revolut Fees

• Currency Exchange Fee: Standard plan users enjoy up to USD 1,000 per month free of extra fees; excess is charged at 0.5%. Premium/Metal plans have higher or unlimited allowances.

• Weekend Surcharge: During market closures (Friday evening to Sunday), all plans incur an extra ~1% fee.

• International Transfer Fee: Standard plan transfers to external bank accounts incur a fee of up to 5% of the transfer amount or a fixed $10 (whichever is higher), depending on circumstances.

• Card Transfer Fee: Instant transfers to international cards via card payment incur 2–3% or a minimum fee of a few dollars.

Many users compare Revolut vs Panda Remit to find a more cost-effective solution.

6. Transfer Speed

• Revolut-to-Revolut transfers complete within seconds.

• International bank transfers usually take 3–5 business days.

7. Security

• As a licensed fintech company, Revolut holds a UK banking license and complies with regulatory requirements, ensuring lawful operations in multiple markets.

• The app includes virtual cards, geolocation locks, instant notifications, and other security features.

• User ratings are high (App Store 4.7⭐ / Google Play 4.5⭐).

8. Revolut vs Panda Remit

While Revolut offers global multi-currency accounts, payment services, and investment features, if your main priority is cost-effective, fast, transparent, and reliable cross-border transfers, Panda Remit excels in the following areas:

• Low and Transparent Fees: First transfer free for new users, subsequent transfers remain highly competitive with no hidden charges.

• Fast Delivery: Some transfers reach recipients in as little as 2 minutes; most transfers complete within 1–3 business days.

• Full Traceability: Users can track funds in real time via the app, ensuring peace of mind.

• No Physical Branches: Fully online operations eliminate intermediaries, reducing costs and passing savings to users.

• Wide Coverage: Easy registration with support for identity verification and transfers in 30–40+ countries.

• Strong Security: Uses industry-standard encryption and compliance regulations to protect funds and personal information.

Comparison Table

Summary Recommendation

If you primarily need a full-featured digital bank to manage multi-currency accounts, investments, and spending, Revolut is a solid choice.
However, if your priority is cheap remittance service and fast transfers, Panda Remit offers superior low fees, quick delivery, full traceability, and secure service.

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