Comprehensive Guide to Revolut: Features, Fees, and Security
Benjamin Clark - 2025-08-22 13:56:15.0 353
For people living or working in Europe and the US, Revolut is likely a familiar name. This British fintech company is also a fully licensed digital bank in the EU. Revolut offers multi-currency accounts, debit cards, international money transfers, stock and cryptocurrency trading, serving over 50 million users across approximately 40 countries. If you frequently handle foreign currencies, having a multi-currency account and an international debit card can save both time and money on purchases, travel, or remittances. This article provides a detailed overview of Revolut account types, fees, account setup, security measures, and also introduces a cost-effective cross-border remittance alternative: Panda Remit.
Revolut Account Types
Revolut provides several account tiers to suit different needs:
| Account Type | Standard | Premium | Metal |
|---|---|---|---|
| Monthly Fee | Free | $9.99 | $16.00 |
| Interest Rate | 2.75% | 3.5% | 3.5% |
| Exchange 25+ Currencies | First $1,000/month free | First $10,000/month free | Unlimited free |
| International Transfers to 140+ Countries | Standard Fees | 20% Discount | 40% Discount |
| Debit Card | Free | Free | Free |
| Other Features | None | Custom debit card | Metal card, partner subscriptions, purchase protection, travel insurance |
Revolut Cards
Revolut accounts come with debit cards, not credit cards, meaning you can only spend up to your account balance. There are virtual cards and physical cards:
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Virtual cards can be generated unlimited times, ideal for online shopping, providing extra security for transactions.
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Physical cards allow ATM withdrawals worldwide at over 50,000 Allpoint® ATMs.
Eligible users with an SSN and stable income may apply for credit cards or small loans, although this feature is still in pilot phase and may not be available to everyone.
Revolut Fees (Example: US Standard Account)
| Item | Fee Description |
|---|---|
| Card Issuance | Virtual card: free, Physical card: up to $4.99 |
| Shipping | Standard $0–$5, Express $16.99, International $19.99 |
| Annual Card Fee | Free |
| ATM Withdrawals | Allpoint® network free, others 2% |
| Currency Exchange | First $1,000/month free, above 0.5%; weekend exchange +1% (Fri 5 PM – Sun 6 PM) |
| International Transfers | Up to 5% of the amount or $10 (whichever is higher); intermediary banks may charge extra |
Note: Fees vary by account tier. Always check the official fee schedule before signing up.
Revolut Customer Support
Revolut provides a detailed FAQ covering account setup, transfers, debit/credit cards, and insurance. If questions remain, you can contact support in the app:
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Open App → Tap profile icon (top-left)
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Select Help → Get more help
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Start a live chat (supports 100+ languages)
Revolut has nearly 200,000 reviews on Trustpilot with an average rating of 4.4/5, and around 95% of negative reviews receive an official response within 48 hours.
Revolut Online Banking and App
Revolut supports both web and mobile app, enabling deposits, currency exchange, transfers, and investments. The mobile app is convenient for tracking rates and investments anytime, while web login requires two-factor authentication through the app, enhancing security.
How to Open a Revolut Account
As a digital bank, Revolut allows account setup and identity verification entirely within the app:
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Download the Revolut app and register
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Verify your phone number
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Fill in personal information, upload ID and selfie for verification
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Choose account type and pay monthly or one-time fees for a debit card
Security
Revolut uses multiple security measures:
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Fund Safety: Account funds are held at Lead Bank and Sutton Bank, insured by FDIC up to $250,000
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Transaction Security: High-risk transactions are automatically flagged
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Information Security: Strict identity verification and encryption
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Security Tools: Instant payment notifications, card controls, one-tap freezing
Panda Remit: A Better Option for Cross-Border Transfers
While Revolut offers extensive banking functions, Panda Remit provides more transparent, lower-cost, and faster cross-border remittance services:
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Background: Founded in 2018, headquartered in Singapore, serving 40+ countries across Asia, Europe, Oceania, and North America
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Main Services: Global Remittance, Remittance to China, China Outward Remittance
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Low Fees & Transparent Rates: Zero spread on mid-market exchange rates, first transfer free
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Fast Delivery: Some transfers arrive in 2 minutes; most 1–3 business days
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Real-Time Tracking: Monitor every transfer in the app
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Regulatory Compliance: Licensed in multiple countries, encrypted and regulated
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Investor Support: Backed by Sequoia Capital and Lightspeed Capital, included in MasterCard Start Path in 2020
Panda Remit’s online calculator allows you to instantly see fees, exchange rates, and estimated arrival times.
Revolut vs Panda Remit Comparison
| Feature | Revolut | Panda Remit |
|---|---|---|
| Main Function | Digital banking: multi-currency accounts, investments, payments | Cross-border remittance: low-cost, fast transfers |
| Transfer Fees | Up to 5% or $10; intermediary banks may charge extra | First transfer free, subsequent low, transparent fees |
| Delivery Speed | Revolut-to-Revolut instant; bank transfers 3–5 business days | Some transfers in 2 minutes; most 1–3 business days |
| Tracking Transparency | Depends on transfer type and country | Fully trackable; real-time updates in app |
| Service Cost | Bank infrastructure; indirectly reflected in fees | Fully online, no branch costs; cost savings passed to users |
| Ease of Use | Full-featured but relatively complex | Simple registration and operation; suitable for international users |
| Security | Bank license, multi-layered security | Regulatory compliance, standard encryption |
Summary
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Revolut: Ideal for those who need comprehensive digital banking features, including multi-currency management, investments, and global payments.
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Panda Remit: Best for low-cost, fast, fully trackable cross-border remittances, with transparent fees and mid-market rates.
Follow Panda Remit on social media for daily exchange rate updates and exclusive promotions:
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Instagram: @panda.remit
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Facebook: @PandaRemitWT
