Welcome to your guide on the Revolut Virtual Card. It’s a digital banking solution for today’s users. With it, you get benefits like no-fee currency exchanges and instant spend alerts. It’s also accepted worldwide, making travel easier.
This guide will show you how the Revolut Virtual Card works. It’s great for travel with features like insurance and secure exchange rates. It’s all about making your life easier.
Using the Revolut card is simple with the Revolut app. It keeps you updated with your finances and is secure. It’s a top choice for online banking security, with FDIC insurance for your peace of mind. It’s perfect for anyone who loves to travel or use digital banking.
For more on the best international prepaid Visa cards, including Revolut, see our guide on international prepaid Visa card providers.
What is a Revolut Virtual Card?
A Revolut virtual card is like a digital version of a debit card. It helps with secure online payments and lets you handle money in different currencies. It’s a big step in digital banking with cool features like setting spending limits and getting instant alerts on transactions.
It was first available in the U.K. and then in the U.S. It works well with Apple Pay and other big payment systems.
The virtual debit card is great because it doesn’t exist in real life. This means it’s safer from theft and fraud. It’s perfect for people who shop online a lot or travel a lot.
It also comes with Revolut banking features like instant exchange rates. This is super helpful for those who deal with currency exchange.
At Revolut, safety is the top priority. All accounts, including virtual cards, are insured up to $250,000. This is why Revolut has over 35 million customers worldwide and 500,000 business customers.
They work with big U.S. banks to follow local rules and keep customer money safe.
Revolut is known for its top-notch digital banking safety. It gets five-star ratings in many areas, like website and app security. Plus, it works with trusted banks to issue Visa and Mastercards. This means users can exchange currencies without extra fees, which is great for travelers.
Using Revolut Virtual Card Abroad
Using a Revolut Virtual Card abroad is a big help for travelers. It makes managing money internationally easy. With over 20 million users worldwide, Revolut offers great features for those traveling with cards.
One big plus is no foreign transaction fees. This lets travelers manage their money without extra costs. The Revolut Standard card also lets you exchange currencies up to $1,000 a month for free. It’s perfect for those on a tight budget.
The card also lets you withdraw up to $400 a month for free at 55,000 ATMs. For more benefits, the Revolut Premium plan costs $9.99 a month. The Metal plan is $16.99 a month and offers unlimited currency exchanges and $1,200 in fee-free ATM withdrawals monthly.
Revolut’s app works well with Apple Pay. This makes managing your money abroad easy and secure. The app supports many currencies, making international money management simple.
Here’s how the different plans compare:
| Plan | Monthly Fee | Fee-Free Currency Exchange | Fee-Free ATM Withdrawals | Additional Benefits |
|---|---|---|---|---|
| Standard | $0 | $1,000 | $400 | 3.25% APY, Basic Support |
| Premium | $9.99 | $10,000 | $800 | Travel Medical Insurance, 4.25% APY |
| Metal | $16.99 | Unlimited | $1,200 | Travel Medical Insurance, 4.25% APY, Priority Support, Flight Delay Insurance, Luggage Protection |
Revolut’s Virtual Card makes traveling easier by avoiding traditional money issues. It offers no foreign transaction fees and great money management tools. For more on why Revolut is great for travelers, check out guides and user experiences.
Guide to FDIC Insurance
The Federal Deposit Insurance Corporation (FDIC) offers vital protection for your money. It ensures your banking and financial security. Revolut works with Metropolitan Commercial Bank for U.S. users, providing FDIC coverage. This means your funds in a Revolut prepaid card are safe, giving you peace of mind.
FDIC insurance covers many types of accounts. This includes single, joint, retirement, and trust accounts. Each type has its own coverage, up to $250,000 per depositor, per bank.
Starting April 1, 2024, trust accounts with five or more beneficiaries get up to $1,250,000 per owner. This boost in coverage adds to your financial security. It applies to both new and existing trust accounts.
From 1933 to now, no depositor has lost FDIC-insured funds. This shows how strong FDIC protection is. The Deposit Insurance Fund (DIF) is backed by the U.S. government, ensuring your money is safe.
Revolut’s FDIC coverage meets regulatory standards and protects your money well. To maximize your coverage, know that different account types can increase your limits. Use the FDIC’s online tool, EDIE, to see how much your funds are insured. If a bank fails, the FDIC quickly makes your insured deposits available.
For more on choosing an online bank with good FDIC protection, check out this guide. With Revolut and the FDIC, you get better financial security and peace of mind with every deposit.
| Ownership Category | Coverage Limit |
|---|---|
| Single Accounts | $250,000 per depositor |
| Joint Accounts | $250,000 per account holder |
| Retirement Accounts | $250,000 per account |
| Trust Accounts (5+ beneficiaries) | $1,250,000 per owner |
Revolut Virtual Card vs Physical Card
When looking at Revolut cards, we see clear benefits for different needs. The rise in digital banking shows how important these services are. This is seen in the American Bankers Association’s data.
The Revolut Virtual Card is perfect for those who value online safety and ease. It’s ready to use right away. It helps control spending and subscriptions, lowering fraud risks. It’s great for online shopping and keeping transactions safe. For more on its benefits, check out here.
The physical Revolut card, on the other hand, is key for offline activities. It’s essential for cash withdrawals, which are vital when traveling or in places without digital payments. It offers fee-free withdrawals and easy currency exchanges, making it ideal for travelers. These features, along with strong security, make it a top choice for those who travel often.
Deciding between virtual and physical cards depends on your lifestyle and spending habits. Both cards offer great solutions for different needs. For those seeking a premium experience, the Revolut Metal Card might be the best choice. It comes with extra benefits and rewards. Learn more about it here. Whether you prefer the ease and safety of virtual cards or the flexibility of physical ones, Revolut has you covered. It meets the growing demand for digital banking.
