- Is it worth opening a revolute account in 2024? Yes or no?
- What are the main advantages of having a multi-currency account at Revolut?
- What account plans are available at Revolut and what are their differences
- What additional services are included in the Premium, Metal and Ultra plans?
- Does the Ultra plan include any financial assistance or investments?
- What else should I know about Revolut?
- Account and Plans
- Products and services
- Application Features
- Global Experience
- Customer Support and Assistance
- Financial Security
- Tecnologia e Inovação
- Regulation and Compliance
- Frequently Asked Questions About Opening an Account on Revolut
Is it worth opening a revolute account in 2024? Yes or no?
Yes, it is worth opening an account Revolut in 2024, especially for those who need to carry out international financial transactions or travel frequently.
Here are the main reasons why we recommend opening an account with Revolut:
- Multi-currency account: A Revolut supports over 30 currencies and operations in over 150 countries, making it ideal for international transactions.
- Competitive rates: The platform uses commercial exchange with no profit margin and applies competitive rates, making international transactions cheaper than many competitors.
- Convenience: With a digital 100% account and physical and digital cards available, Revolut offers great convenience to its users.
- Security: A Revolut is regulated by the FCA in the UK, ensuring an adequate level of security for financial transactions.
- Additional features: In addition to basic operations, Revolut offers access to international savings and investments.
- Flexible options: A Revolut offers different account plans, including options with no fixed costs, allowing users to choose the one that best suits their needs.
However, it is important to consider some limitations:
- International transfers can be more expensive outside business hours.
- In Brazil, conversion from the real is limited to dollars.
- There are no physical branches and it is not possible to make cash deposits.
Despite these limitations, Revolut remains a valuable option for many users in 2024, especially for those who need efficient and cost-effective international financial solutions.
What are the main advantages of having a multi-currency account at Revolut?
The main advantages of having a multi-currency account at Revolut they are:
- Multi-currency support: Revolut allows you to store and manage money in 29 different currencies, offering great flexibility for international transactions.
- Competitive exchange rates: The platform uses commercial exchange rates with no markup for most transactions, making currency conversions more cost-effective.
- Practical and economical international transfers: You can send money to more than 200 countries and regions easily and at reduced costs.
- Payments abroad without additional fees: The Revolut card allows you to make payments in 150 different currencies at no extra cost, except outside the Euro zone.
- Free withdrawals abroad: There is a monthly limit for free withdrawals, which varies depending on the plan chosen.
- Account without maintenance costs: In the Standard plan, there are no account opening or maintenance fees.
- Simplified financial management: The application offers an easy-to-use interface, allowing you to manage all financial operations in one place.
- Additional features: In addition to basic operations, Revolut offers investment services in stocks, cryptocurrencies and precious metals.
- Single-use virtual cards: Increases security in online purchases.
- Transparency: The platform is praised for its clear policies and fees, making it easier to understand the costs involved in operations.
These advantages make Revolut an attractive option for anyone who needs to handle multiple currencies, travels frequently or regularly transacts internationally.
What account plans are available at Revolut and what are their differences
Revolut offers four main account plans, each with different features and benefits:
- Standard (no monthly fee):
- Free multicurrency account
- Plafond for exchange transactions of €1000/month
- Free ATM withdrawals up to €200/month
- Free national transfers
- Plus (€2.99/month):
- Includes Standard plan benefits
- Plafond for exchange transactions of €1000/month
- Free ATM withdrawals increased (exact value not specified in results)
- Premium (€7.99/month):
- Unlimited exchange limit
- Free ATM withdrawals increased
- Priority customer support
- Metal (€13.99/month):
- All benefits of the Premium plan
- Unlimited exchange limit
- Free ATM withdrawals up to €800/month
Main differences between the plans:
- Monthly fee: Varies from free (Standard) to €13.99/month (Metal).
- Exchange limit: Standard and Plus have a limit of €1000/month, while Premium and Metal offer unlimited exchange rates.
- Free withdrawals: The limit increases depending on the plan, going from €200/month in Standard to €800/month in Metal.
- Customer support: Premium and Metal plans have access to priority support.
- Additional services: Higher plans may offer extra benefits like travel insurance and airport lounge access, although specific details are not mentioned in search results.
It is important to note that all plans are subject to an additional fee of 1% for currency exchange during weekends, and Standard and Plus plans have a fee of 0.5% after exceeding the monthly exchange ceiling of €1000.
What additional services are included in the Premium, Metal and Ultra plans?
Revolut's Premium, Metal and Ultra plans offer a range of additional services that differentiate them from the Standard and Plus plans.
Here are details of the additional services included in each of these plans:
Premium Plan (€7.99/month)
- Free ATM withdrawals: Up to €400/month without fees.
- Unlimited currency exchange: No fees from Monday to Friday.
- Discount on international transfers: Save 20% on international transfer fees.
- Free subscriptions: Access to free subscriptions with selected partners.
- Everyday purchase protection: Insurance for everyday purchases.
- Priority customer support: Priority service via chat.
- Exclusive card: Exclusive card for the Premium plan.
Metal Plan (€13.99/month)
- Free ATM withdrawals: Up to €800/month without fees.
- Unlimited currency exchange: No fees from Monday to Friday.
- Discount on international transfers: Save 20% on international transfer fees.
- Free subscriptions: Access to free subscriptions with selected partners.
- Everyday purchase protection: Insurance for everyday purchases.
- Priority customer support: Priority service via chat.
- Exclusive metallic card: Metallic card exclusive to the Metal plan.
- Cashback: Cashback on purchases (0.1% in Europe and 1% outside Europe).
Ultra Plan (€45/month)
- Free ATM withdrawals: Up to €2000/month without fees.
- Unlimited currency exchange: No fees from Monday to Friday.
- Discount on international transfers: Save 20% on international transfer fees.
- Free subscriptions: Access to free subscriptions with selected partners.
- Everyday purchase protection: Insurance for everyday purchases.
- Priority customer support: Priority service via chat.
- Exclusive card: Exclusive card for the Ultra plan.
- Cashback: Cashback on purchases (0.1% in Europe and 1% outside Europe).
- Travel insurance: Comprehensive travel insurance coverage.
- Access to airport lounges: Free access to airport lounges.
These additional services make Revolut's paid plans attractive to users looking for extra benefits and greater flexibility in their financial operations.
Does the Ultra plan include any financial assistance or investments?
Revolut's Ultra plan includes some benefits related to financial assistance and investments, although specific details are limited.
Here are the main points:
- Financial Times Subscription: The Ultra plan includes a Premium Digital subscription to the Financial Times, which can provide valuable financial information and analysis to users.
- Earning points: Ultra users earn 1 point for every €1 spent, plus a 10,000 point bonus when upgrading to the plan. These points can potentially be used to enhance travel plans or other benefits.
- Unlimited currency exchange: The Ultra plan offers unlimited commission-free currency exchange from Monday to Friday, which can be useful for international investments or financial transactions.
- Interest on account: The Ultra plan allows you to earn up to 4,75% in interest, although specific details about this feature are not provided.
- Investment services: Although not specific to the Ultra plan, Revolut generally offers investment services in stocks, cryptocurrencies and precious metals directly through the app.
What else should I know about Revolut?
Revolut is known for offering innovative and digital financial services. The company was launched with the intention of transforming the traditional banking sector.
Mission and Vision
Revolut's mission is to transform the way people spend and transfer money globally. They want to offer affordable financial services for everyone. This way, customers can move money in different currencies without hidden fees. The company aims to be the first truly global and digital bank. They want to provide flexibility and transparency in transactions.
Revolut's vision is that anyone, regardless of location, has access to sophisticated financial tools. This includes investments, insurance and other services that go beyond the traditional. They are committed to breaking down barriers that have traditionally hindered access to global banking services.
History and Growth
Revolut was launched in 2015 by Nik Storonsky. From the beginning, the company focused on digital banking services to facilitate international transactions. Growing rapidly, Revolut has expanded to many countries, including the United States, Canada, and Singapore.
In 2024, Revolut plans to introduce term deposits in Portugal. This is an important step that shows the continued expansion of your offerings. The company already has advanced features, such as Revolut 10. This allows customers to centralize and personalize their money management in one place.
The digital revolution promoted by Revolut has attracted millions of customers seeking simplicity and efficiency in financial services.
Account and Plans
Revolut offers a variety of accounts for different needs, from the free standard account to paid plans with additional benefits, as well as solutions for businesses.
Standard Account
The Revolut Standard Account is free and offers several financial tools. You can send money abroad, convert up to 36 different currencies in the app and spend in over 150 currencies.
Additionally, the account includes a physical and virtual card for secure payments. There are no monthly fees, which is excellent for those looking to save money. You can manage your budget and monitor your expenses easily.
Paid Plans
Revolut’s paid plans include options like Plus, Premium, and Metal. Each plan comes with additional benefits, such as higher currency exchange limits, lower fees, and travel insurance.
For example, the Plus plan offers a higher daily limit for spending and withdrawing money. The Premium plan adds more types of insurance and priority support. The Metal plan includes cashback on purchases and a personal concierge.
Monthly fees vary depending on the plan, making them ideal for those who need more features and services.
Account for Companies
Revolut also offers Business Accounts with specialized tools for financial management and business operations. These accounts allow international transfers at low fees and access to features such as accounting integration and bulk payments.
Monthly fees depend on the type of business account chosen, but they all offer great flexibility and efficiency for businesses of different sizes. Plus, there's 24/7 support, helping you resolve issues quickly and maximize productivity.
For more detailed information and price comparison, visit the Revolut plans e standard account.
Products and services
Revolut offers a wide range of financial products, from cards and payments, transfers and remittances, to savings and investment options.
Cards and Payments
Revolut allows you to use cards that work in multiple currencies. With one of these cards, you can pay in more than 150 currencies, with fair exchange rates and no hidden fees.
You can manage different currencies within the application and spend directly with the card in different countries.
Additionally, Revolut offers tap-to-pay options like Apple Pay and Google Pay. This facilitates secure and fast payments.
You can also control your spending through the app, where you can set spending limits and receive instant notifications for each transaction.
Transfers and Shipping
Revolut makes it easy to send and receive money internationally.
You can transfer money to over 160 countries with no hidden fees. Transfers are fast and often instantaneous to other Revolut users.
Revolut also allows you to send money to traditional bank accounts, wherever they are.
Users can also easily share costs, send payment reminders and even split invoices, all within the app.
Savings and Investment
For those who want to save or invest, Revolut has several options.
You can open savings accounts that offer competitive interest rates. Furthermore, there are “Safes” where you can store money automatically and safely.
In terms of investing, Revolut allows you to trade stocks and cryptocurrencies directly in the app.
Revolut allows you to invest in fractional shares, meaning you can buy smaller portions of expensive shares. Fees are transparent and there are several tools to help you make informed investment decisions.
Application Features
The Revolut app is designed to provide complete management of your finances, from budgeting to automated investing and personal data security.
Budget Management
In the Revolut app, budget management is simple and intuitive. You can set spending limits and categorize expenses to better track your money.
The expense analysis feature lets you see where you're spending the most, helping you identify areas where you can save.
The instant notifications feature informs you of each transaction made, ensuring you are always aware of your finances.
Automated Investing
Revolut offers automated investing options that make the process accessible and easy.
You can invest in stocks, cryptocurrencies and precious metals directly through the app.
There are fractional investment options, allowing you to start with small amounts, and the automatic return feature helps you reinvest profits.
Security and Data Protection
The security of your personal data is a priority at Revolut.
The app uses two-factor authentication and data encryption to protect your information.
You can freeze and unfreeze cards instantly via the app and use the geolocation feature to prevent card use when you are not near your phone. You can find out more on the Revolut website.
Your personal data is protected with the privacy portal, where you can manage permissions and access to your information.
Global Experience
Revolut offers an integrated and intuitive experience for managing money anywhere in the world. Benefit from competitive exchange rates, easy international transactions and multi-currency support.
Travel with Revolut
Traveling with Revolut becomes simpler and safer due to its multi-currency card. You can convert money into local currency before you travel using the Revolut app and benefit from lower exchange rates compared to traditional banks. Additionally, Revolut offers travel insurance and airport lounge access for premium plan users.
Spending Abroad
When it comes to spending money abroad, Revolut stands out. You don't have to worry about foreign transaction fees as Revolut offers no-extra-cost transactions in multiple currencies. Instant notifications help you control your spending and the app allows you to freeze and unfreeze your card if it is lost or stolen.
Multi-Currency Operations
Managing multiple currencies with Revolut is effective and effortless. You can maintain balances in over 30 different currencies and convert between them instantly at interbank exchange rates. This is especially useful for those who do international business or frequently need to send and receive money from other countries.
Customer Support and Assistance
When using Revolut's services, it's crucial to know how to get help and support when you need it. This section covers how to access customer service, report complaints, and protect vulnerable customers.
Customer service
Revolut customer service is available 24/7 via in-app chat.
To start a conversation, tap your profile, go to the Help and choose “Get more help”.
Through this channel, you can speak to an agent to resolve any issue.
The online help center is also a good source for Frequently Asked Questions.
Here, you'll find quick answers to common questions without having to wait for an agent.
If you prefer, you can also visit the Revolut website, where the steps for contacting support are detailed.
Complaints Portal
If you have a complaint, Revolut offers a Complaints Portal where you can register your complaints.
To access, go to the in-app chat, choose the help option and select “Make a complaint”.
It is important to provide as many details as possible so that your complaint can be dealt with effectively.
Revolut promises a fair and fast review of your complaints, ensuring support works in your best interests.
For more information on how to make a complaint, visit Revolut Portugal.
Customer Vulnerability
Revolut recognizes the need for extra protection for customers vulnerable.
This includes people with financial difficulties, mental health problems, or other forms of vulnerability.
If you find yourself in a vulnerable situation, you can count on specialized assistance through the usual support channels.
Inform the agent about your condition to receive more appropriate care.
Revolut has specific policies to deal with these cases, ensuring your needs are a priority.
These services are part of Revolut's commitment to providing inclusive and responsive service to all customers. Visit the support section for more details.
Financial Security
Revolut takes several measures to ensure the safety of your money, including deposit insurance and partnerships with reputable banks.
Deposit Insurance
Revolut collaborates with several entities to protect your deposits.
If you are registered with Revolut Bank UAB, your funds are covered by Lithuania's deposit guarantee scheme, which guarantees up to EUR 100,000 per depositor in the event of bank insolvency.
For customers in the United States, deposited funds are protected up to USD 250,000 through insurance FDIC.
This ensures that if Revolut or its banking partners go bankrupt, you will recover your deposits up to that limit.
This insurance is facilitated through partner banks such as Metropolitan Commercial Bank.
Banking Partners
Revolut works with several partner banks to ensure your funds are held securely.
For European customers, key partners include banks MasterCard e Visa, which provide the necessary infrastructure for secure transactions.
In the United States, Revolut collaborates with banks such as Sutton Bank e Cross River Bank.
These banks are responsible for keeping customer funds in protected and supervised accounts.
Additionally, Revolut has agreements with Chubb Group to provide additional coverage, including fraud insurance.
These combined efforts result in a solid safety net to protect your money.
Tecnologia e Inovação
We change the way we interact with money. Below, discover how Revolut's technological innovations are transforming the banking and payments sector in Portugal.
FinTech and NeoBanks
Revolut is a pioneer in the field of FinTech, combining technology and financial services to offer an innovative experience.
Unlike traditional banks, Revolut operates as a neobank, a completely digital institution.
You can manage your finances directly from your smartphone, which brings speed and convenience.
The ability to quickly adapt to changes in the market is one of the reasons for Revolut's success.
Advanced spending and savings analysis tools are some of the features that make the platform stand out.
Virtual and Contactless Cards
The use of virtual cards is a great advantage of Revolut.
These cards increase the security of online transactions, as data can be easily updated, protecting against fraud.
Additionally, contactless payments make transactions faster and more convenient.
With the integration of services such as Apple Pay, you can pay using just your smartphone, without needing a physical card.
The ease and security of virtual and contactless cards have already won over many users.
Banking License
Since May 2020, Revolut has held a banking license in Lithuania, allowing it to offer traditional banking services such as deposits and loans.
Now, Revolut is expanding these services in Portugal, planning to launch term deposits.
The banking license guarantees that customer deposits are protected up to a certain amount.
This measure increases user confidence, who can thus enjoy a full range of banking services without leaving the digital environment.
Regulation and Compliance
Revolut is properly regulated and compliant with various authorities. See specific details about the security and regulation of the services offered.
Revolut Securities Inc
Revolut Securities Inc is an entity regulated by the SEC (Securities and Exchange Commission).
Regulation by the SEC ensures that Revolut meets strict compliance and transparency standards.
Stock exchange and investment operations are monitored to protect customers' interests.
Quality control and frequent audits are performed to maintain the integrity of financial services.
This level of oversight ensures you can trust Revolut to manage your investments securely and transparently.
California Collection Notice
Revolut complies with California's collection notice rules, ensuring its collection of customers' personal data complies with state law.
This notice informs customers about the types of data collected, the purpose of the collection, and how that data will be used.
The company adopts strict measures to protect the privacy and security of its users' data.
Compliance with these rules reinforces transparency and trust between the company and its customers.
SEC Registered Investment Advisor
Revolut also acts as an SEC-registered investment advisor, meaning it offers investment advice based on strict regulations.
Adherence to these standards is important to ensure that advice given is in the best interests of clients.
Being a registered advisor implies a fiduciary obligation to act transparently and ethically.
This registration is another layer of security for you, ensuring that your investments are protected and that the services offered are of high quality.
Revolut also works in compliance with FINRA (Financial Industry Regulatory Authority), ensuring additional oversight.
Such strong and effective regulation contributes to users’ trust in the financial services provided by Revolut.