As a one-stop financial solution, Revolut Business transcends geographical and currency boundaries. With operations in over 40 countries, and combining various financial services into a user-friendly application, business financial management becomes seamless.
|Daily volume trading||$40 billion (2020)|
|Revenue||£850 million in 2022|
|Cryptocurrencies||120+ including BTC, ETH and ADA|
|40 currencies, including GBP, USD and EUR|
|Crypto licenses VASP||Cyprus, Singapore, Spain, United Kingdom|
|Banking licenses (IBAN)||Bank of Lithuania, Ireland|
|Money Transmitter or E-Money Licences||UK, USA (40 states)|
|Pricing Plans||Free, Grow €19/month, Scale - €79/month, Enterprise - custom|
|Cryptocurrency Fees||0.99% or 1.99% depending on your plan|
|Interest on savings||4.1%|
Advanced Treasury Management
Facilitates effective cash flow management, forward contracts, and cryptocurrency transactions (subject to geo-restrictions and
Integrations and APIs
Seamless integration with popular business tools like Xero, Slack, QuickBooks, Zoho Books, and Zapier.
Active in over 40 countries with a swift account setup process, typically completed within 24 hours.
Revolut Business offers tiered pricing plans catering to diverse business needs. Plans range from Free to Custom, with varying limits on fee-free local and international payments and foreign exchange allowances.
For freelancers, plans from Free to Ultimate, offer a range of fee-free local and international payments and foreign exchange allowances.
Revolut Business is a remarkable entity within the fintech ecosystem, striving to redefine traditional banking by offering a centralized platform for diverse financial needs. Here is an overview of Revolut Business and its positioning within the fintech ecosystem:
Traditional Banks: Revolut Business trumps traditional banks with its rapid account setup, lower fees, superior user experience, and expansive multi-currency and virtual card offerings.
Neobanks (e.g., Monzo, Starling, Cashplus): Revolut’s international orientation, competitive fee structure, and extensive feature set position it favorably against neobanks, which often have a UK-centric approach and limited international business features.
Electronic Money Institutions (e.g., Wise, Anna, Tide): Revolut Business outperforms with a dedicated business app, lower currency conversion fees, and a broader range of functionalities.
Crypto Banks (e.g., Bank Frick, Wirex, Solaris Bank): Revolut Business puts a premium on pricing for crypto businesses compared to native crypto banks. Additionally, users do not own the private keys to their crypto holdings. It has been facing heightened regulatory examination, which may influence its services and offerings (e.g., withdrawal from the US).
Although not a bank in every jurisdiction, Revolut Business ensures the safety of funds through stringent safeguarding measures, holding funds in ring-fenced accounts with reputable global banks or investing in low-risk assets.
Revolut offers various security features to protect user funds and transactions, such as the following:
In July 2023, according to the Financial Times, Revolut sustained a $20 million loss at the hands of organized crime groups, attributed to a vulnerability in its payment system that persisted from the end of 2021 to the beginning of 2022.
Revolut Business employs a multi-faceted security infrastructure to ensure the utmost safety of its users’ funds and data. The security protocols are designed to mitigate risks associated with unauthorized access, fraud, and data breaches. Key security features include:
Revolut Business has carved a niche by amalgamating traditional financial management tools with modern digital assets management, creating a comprehensive treasury management platform for today s businesses. Although Revolut ceased crypto services in the US in 2023 due to regulatory changes, the services remain widely available in other parts of the world where it is present.
Accepted cryptocurrency firms
Similar to the Revolut app for retail clients, the user-centric design approach adopted by Revolut Business plays a pivotal role in facilitating ease of use and enhancing user satisfaction. Revolut Business boasts a sleek and intuitive user interface catering to novice and seasoned business personnel. Some noteworthy features include:
Customer Support Channels
Revolut Business offers a variety of customer support channels to address concerns and queries. The customer support infrastructure includes:
As of 2021, Revolut allows Bitcoin withdrawals, granting personal accounts in the UK the ability to transfer BTC to their wallets.
Initially, this feature was exclusive to Revolut Metal customers in the UK, enabling them to add three external addresses and withdraw up to £500 daily and £1,000 monthly, with the added security of two-factor authentication.
Nik Storonsky, Revolut’s Founder and CEO, highlighted that this highly anticipated feature marked the beginning of numerous forthcoming crypto functionalities to offer one of the most robust crypto products in the market. Although there is no mention for business clients, crypto withdrawals remain a big ask from the crypto community.
If your business has access to cryptocurrencies, you can buy/sell Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polygon (MATIC), Polkadot (DOT), Cardano (ADA) and Ripple (XRP).
Yes! Crypto cashback is credited promptly after your crypto card transaction. However, a card transaction might sometimes linger in a ‘pending’ status before finalization (this duration could extend to a few days). Similarly, your crypto cashback will stay in a ‘pending’ state until the principal transaction is finalized. The cashback will be accorded in the cryptocurrency utilized for the transaction. Notably, the crypto cashback for card payments feature is available for a restricted period.
Sometimes. Revolut Business operates as a bank within certain areas, including the European Economic Area (EEA). Possessing a comprehensive banking license from Lithuania through Revolut Bank UAB, the company is enabled to provide banking services across borders to its business clientele within the EEA.
Revolut has a habit of transforming users into advocates. Now, Revolut Business is attempting to do the same for businesses. It encapsulates a holistic financial solution for modern enterprises, eliminating the complexities of international business transactions. Its competitive pricing, global orientation, and extensive feature set make it a compelling choice for businesses aiming for efficient financial management.
The service embodies a modern, agile, and customer-centric approach to financial services, challenging traditional banking paradigms and striving to establish a comprehensive, integrated financial ecosystem. Meanwhile, Revolut Business appears committed to providing robust expense and spend management tools to help businesses manage their finances effectively.
The security framework of Revolut Business, fund-safeguarding procedures, and regulatory compliance ensure a secure and reliable platform for its users. The ongoing efforts to improve and adapt to the evolving regulatory landscape further enhance its position as a trustworthy financial service provider for businesses.
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