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Revolut review 2026: Is it the right bank for you?

Last update: July 20, 2026

Contents

Revolut is now one of the UK’s most popular multi-currency platforms, and as of March 2026 it is also a fully licensed UK bank, with eligible deposits protected by the FSCS up to £120,000. For individuals, it offers convenience and modern design. For businesses the question is more nuanced: it works well for smaller, flexible companies, but high-volume importers and exporters can outgrow its FX allowances and local-account limits. This review covers Revolut’s features, fees, exchange rates and protection in 2026, then compares it with WorldFirst so you can choose the right account for cross-border trade.

Key takeaways

Revolut is now a fully licensed UK bank (since 11 March 2026), with eligible deposits FSCS-protected up to £120,000 as accounts migrate in phases. It suits smaller, flexible businesses that value app convenience.
Running costs add up: there is no free business plan, FX is only free within monthly allowances and then around 0.6% (plus about 1% at weekends), and support is chat-only, with some users reporting account freezes during fraud checks.
It is less suited to high-volume global trade, with local accounts limited to a few currencies and FX volume caps that larger importers and exporters can outgrow.
WorldFirst is a strong alternative for cross-border trade. It is an FCA-authorised electronic money institution, not a bank, purpose-built for business, with no monthly fees, transparent FX up to 0.5% on major currencies, local accounts in 20+ currencies and advanced payment tools.

What Is Revolut?

Revolut is a financial technology platform that provides digital banking, payments and money management services for individuals and businesses.

Founded in 2015 and based in London, it now serves around 70 million customers across 40 markets, including millions in the UK and hundreds of thousands of businesses. The company also generated £4.5 billion in revenue in 2025, representing a 46% year-on-year increase.

The platform offers multi-currency accounts that allow users to hold, exchange and transfer funds in over 25+ currencies, forming part of a broader Revolut company overview that highlights its core capabilities. It also provides debit cards, international payments, budgeting tools, savings products and investment features within one app.

Revolut aims to give users greater control over their finances by combining everyday banking and global payments in a single digital platform.

Quick look: Revolut Business Account pros and cons

Revolut Business offers flexibility and modern tools for companies that trade or operate globally. However, it is not without limitations.

The table below summarises the main advantages and drawbacks to help you assess if it suits your business needs:

Category	Pros	Cons
Currency support	Hold, send and receive in 25+ currencies, suitable for cross-border operations	Conversion fees apply once the free monthly allowance is used, and weekend FX markups may apply
International payments	Fast transfers with competitive rates within allowances	Limited free transfers on lower plans, and SWIFT payments can carry third-party fees
Integrations	Connects with Xero, QuickBooks and other tools, and supports invoicing on some plans	Some features require higher-tier plans
User experience	Modern, mobile-first design with fast onboarding	Support is mainly chat-based, with no phone or in-person help
Regulatory protection	Now a licensed UK bank, with eligible deposits FSCS-protected up to £120,000	Migration is phased, so accounts opened before March 2026 should confirm their current protection
Payment methods	Virtual and physical business cards, with team spending controls	No cash or cheque deposits, and lending products are still rolling out
Scalability	Tiered plans let you upgrade as you grow	Higher tiers raise monthly costs, and there is no free plan
Reliability	Well-established, with around 70 million customers worldwide	Some users report account freezes or compliance holds without notice

Revolut Business fees: the breakdown

The following summary outlines the fees for UK businesses using Revolut Business:

Fee type	Typical cost or allowance
Monthly account fee	£10 (Basic), £30 (Grow), £90 (Scale), custom (Enterprise)
Local transfers (GBP, EUR)	10 free (Basic), 100 free (Grow), 1,000 free (Scale), then £0.20 each
International transfers	£5 each on Basic, with some free transfers included on Grow and Scale
Currency exchange	Free up to £1,000 (Basic), £15,000 (Grow), £60,000 (Scale), then around 0.6%
Out-of-hours or weekend FX	Around 1% additional markup
ATM withdrawals	2% fee after the plan limit
Additional physical cards	A fee applies per card beyond the included allowance
Payment acceptance	From 1% plus a fixed fee, depending on currency

*Revolut Business pricing checked in June 2026.

Revolut Business features

Revolut Business is designed for companies that trade or operate internationally, offering modern tools to simplify payments, manage currencies and control team spending. Its features vary by plan, but the core functionality remains focused on efficiency, visibility and global reach.

1. Account types and pricing plans

Revolut Business offers several tiers to suit different company sizes and transaction volumes:

Basic (£10/month),
Grow (£30/month),
Scale (£90/month),
Enterprise (custom pricing).

Each plan provides specific allowances for free transfers, FX volume and team members.

2. Multi-currency and international payments

Businesses can hold, receive and send payments in over 35 currencies and transfer money to 100+ countries. Revolut’s FX rates are competitive within monthly allowances, after which a 0.6% markup typically applies. Conversions made outside market hours are subject to an additional 1% weekend markup.

3. Cards, spending and expense control

Revolut provides both virtual and physical debit cards for employees, integrated with expense management tools and real-time spending analytics. Free ATM withdrawal limits vary by plan, with a 2% fee once you reach the cap. Multi-currency cards help teams manage travel and supplier payments without needing multiple accounts.

4. Integrations and automation

The platform connects with Xero, QuickBooks and other accounting software, enabling automated reconciliation and invoicing. Businesses can schedule payments, create approval workflows and issue invoices directly from the dashboard, improving visibility and reducing manual work.

5. Security and fund protection

Revolut Ltd, an FCA-authorised electronic money institution, operates Revolut Business. Client funds are safeguarded in segregated accounts and never lent or reinvested, but the FSCS does not cover them.

Savings products offered through partner banks may qualify for FSCS coverage up to the applicable limit. Security features include biometric access, instant card freeze and role-based user permissions for teams.

Pricing and potential hidden costs

Revolut’s plan pricing is transparent at first glance, but the total cost of using the platform depends on how your business transacts. Fees can vary based on plan limits, transaction timing and currency volume.

Subscription fees

Paid business plans start from £10 per month, increasing with higher allowances for transfers, FX and team members. Each tier sets its own limits, so it’s important to confirm the details before upgrading.

Weekday vs weekend FX

Currency conversions made outside market hours attract an additional 1% weekend markup. For example, exchanging funds on a Saturday to pay suppliers in US dollars or Chinese yuan may cost more than scheduling the same conversion on a weekday.

High-value exchanges

Each plan includes a monthly FX allowance. Once you exceed that threshold, additional conversions incur a 0.6% fee on the excess amount. Always check your remaining limit before initiating large transfers.

Cash withdrawals

ATM withdrawals are free within plan-specific limits, after which a 2% fee applies. Monitoring your monthly allowance in the app helps avoid unnecessary charges.

Example scenario:

A UK importer needs to pay CN¥700,000 to a supplier in China on a Saturday. Converting pounds to Chinese yuan within Revolut during the weekend would trigger the 1% weekend markup plus any plan-based FX fees. That timing alone can raise the total cost of the transfer.

To keep payments predictable, many importers schedule conversions on weekdays or use services that offer more control over rate timing and transparency.

How to open a Revolut Business account

To open a Revolut Business account in the UK, you’ll need to provide basic company details and identification for directors and owners.

Here are the steps to follow:

Start your application on the Revolut Business website. The online sign-up takes around 10 minutes
Enter business details, including legal entity type, company name, incorporation number, trading name and business activity
Provide identification for all directors and beneficial owners, including a valid ID (passport or driving licence), selfie or video verification and proof of address
Upload supporting documents like the certificate of incorporation, proof of business activity (invoices, contracts or website), ownership structure documents and registered address proof
Submit authorisation if you’re not a director or shareholder. This can be an authorisation letter confirming your right to open the account
Submit your application for review. Revolut usually completes verification within 1–5 working days
Access your account once approved. You can then hold, exchange and send funds, issue cards and manage team payments directly from your dashboard

Customer feedback and reputation

Revolut enjoys strong praise for its app experience and feature set, but user feedback also raises valid concerns around support and fraud handling.

What users like:

On Trustpilot, Revolut holds a 4.6/5 “Excellent” TrustScore, with over 280,000 reviews
Common positives include the intuitive app interface, real-time spending notifications, budgeting tools and seamless handling of multiple currencies
Many users cite fast international transfers and competitive FX rates as standout benefits

Where concerns appear:

Customer support is a recurring pain point: complaints often mention slow response times or difficulty resolving complex issues via chat
Account freezes triggered by anti-fraud systems are a frequent source of frustration. While Revolut resolves many cases quickly, some users report delays in regaining access to their funds
Revolut leads the UK in the number of fraud and scam complaints escalated to the Financial Ombudsman Service. In 2024 alone, 3,242 APP (Authorised Push Payment) complaints were filed against it, more than any other bank or fintech
While Revolut says it blocks large volumes of fraud, its refund practices and dispute-resolution processes have drawn criticism from users

When Revolut fits and when you might need an alternative

When Revolut is a good fit:

Your business operates in only a few currencies and primarily accepts cards, with occasional transfers. Revolut Business supports holding and exchanging over 30 currencies and making international payments to more than 100 countries
You prefer convenience and speed over deep financial controls. Revolut’s mobile-first design, instant payment notifications and integrated budgeting tools make it easy to manage daily activity
Your transfer amounts are relatively small and timing is flexible. If you stay within monthly FX allowances, Revolut’s exchange rates remain competitive for most use cases

When to consider an alternative:

You receive and pay in multiple currencies every month and need a higher FX volume limit than Revolut’s tiered plans allow
You handle larger transaction volumes or trade across regulated markets and need faster issue resolution or dedicated account support

For many UK businesses that trade globally, Revolut is an efficient starting point. However, as payment complexity increases and the need for currency controls grows, businesses often switch to alternatives built specifically for cross-border trade.

How WorldFirst outperforms Revolut for UK companies trading internationally

If your priority is managing international business finances, it’s worth comparing WorldFirst – a UK-based fintech specialising in global payments – to see how it stacks up as an alternative or complement to Revolut.

Why UK businesses choose WorldFirst over Revolut:

Built for cross-border trade

The WorldFirst World Account helps UK businesses buy, sell and operate globally. It enables you to receive, hold, convert and pay in multiple currencies from one dashboard.

You can open local accounts in 20+ major currencies and send payments in 100+ currencies to 200+ countries, all with local banking details for easier settlements.

Opening a World Account is free, with no setup or monthly fees.

Transparent FX and control

WorldFirst offers market-based exchange rates with margins up to 0.5% for major currencies.

Businesses can also access forward contracts and rate targets to manage FX risk. Transfers are fast and fully visible, helping finance teams plan conversions and protect margins.

Global reach and integrations

Receive payments like a local, pay suppliers worldwide and connect to 130+ marketplaces and payment gateways, including Amazon, eBay and AliExpress. WorldFirst also integrates with Xero and NetSuite, giving seamless reconciliation and visibility across accounts.

The World Card

The World Card lets businesses spend in 150+ currencies worldwide. Transactions in the same currency as your balance have 0% FX fees and the card supports 15 major currencies for direct spending. It offers up to 1.2% cashback, no monthly fees and advanced security features, including instant freeze and 3D Secure.

Trusted, compliant and business-focused

WorldFirst is FCA-authorised and serves only business customers. Client funds remain safeguarded under UK regulations, with dedicated support ensuring reliability for SMEs and online sellers managing global cash flow.

If you’re still unsure about Revolut or WorldFirst, check out our comparison of fees:

Feature	Revolut Business	WorldFirst
Monthly fee	From £10 (Basic), higher for Grow/Scale	Free
Multi-currency account	Included with plan	Free local accounts in 20+ currencies
Receiving funds	Free for local transfers; SWIFT may incur costs	Free in supported currencies
Holding multiple currencies	Free	Free
Payments to same network	Free and instant to other Revolut users	Free and instant to other WorldFirst users
Payments to other accounts	From £5 per international transfer	From £0.30, varies by currency
Currency conversion	Free within plan limit, then 0.6%; +1% weekends	Up to 0.5% for major currencies
Debit card	Virtual free; physical £4.99 each	Free for up to 20 cards

*Fees checked in June 2026.

Simplify your global payments and save on FX.

FAQs

Is Revolut a bank?

Yes. Since 11 March 2026, Revolut Bank UK Ltd holds a full UK banking licence, regulated by the PRA and FCA, and eligible deposits are FSCS-protected up to £120,000. Revolut is migrating accounts to the bank in phases, so if you opened your account before that date, check your status in the app, as it may still sit with its e-money entity for now.

Is WorldFirst a bank?

No. WorldFirst is an FCA-authorised electronic money institution (firm reference number 900508), not a bank. It is built for business payments, and client funds are safeguarded in segregated accounts, which is different from FSCS deposit protection.

Is Revolut safe?

Revolut is regulated and, as a licensed UK bank since March 2026, offers FSCS protection on eligible deposits up to £120,000, with accounts migrating in phases. It has security features such as biometric login, instant card freeze and fraud monitoring. As with any provider, review the protection that applies to your specific account before depositing significant funds.

Is Revolut good for business?

Revolut is a strong choice for smaller, flexible businesses that want multi-currency accounts, low-cost FX within allowances and modern app tools. It is less suited to high-volume cross-border trade, where FX volume caps, limited local currency accounts and chat-only support can become limiting, and where a trade-focused provider like WorldFirst may fit better.

What are the main costs of Revolut Business?

The monthly plan fee (from £10), FX beyond your plan allowance (around 0.6%, plus about 1% at weekends), international transfer fees beyond the free limit, and a 2% ATM fee above the cap. Always check your remaining allowances in the app before large conversions.

Sources:

https://uk.trustpilot.com/review/revolut.com
https://register.fca.org.uk/s/firm?id=001b000000n7V1qAAE
https://www.which.co.uk/
https://www.financial-ombudsman.org.uk/data-insight
https://www.forbes.com/uk/advisor/business-banking/revolut-business-account-review/

Jennifer Dodd leads marketing for WorldFirst UK, and has over 20 years' experience in financial services and publishing.

Jennifer Dodd

Author

Regional Marketing Lead, WorldFirst UK

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