Welcome to our comprehensive Revolut Business guide. We explore the Revolut Business overview in depth. Launched in 2015, Revolut has grown fast. It now has over 15 million personal customers and more than 500,000 business users.
Revolut is set to get a UK banking license soon. This Revolut Business services analysis will show why it’s great for businesses today.
Revolut Business is known for its multi-currency accounts and good exchange rates. You can fix exchange rates for future deals. It’s perfect for businesses that work globally.
The platform works well with mobile banking and tools like Xero and Slack. This makes managing your account easy.
Revolut Business works in over 150 countries and supports more than 25 currencies. It offers up to 200 virtual cards and local accounts for GBP, USD, and EUR. You can also make free instant payments with other Revolut users.
This guide will give you the lowdown on Revolut Business. You’ll learn about its benefits and drawbacks. We’ll also look at its pricing plans and how it rates in features, fees, and customer support.
For a full comparison with other multi-currency accounts, check out our guide here.
Revolut has big plans for the next year. It aims to have 50 million customers by 2024. It’s always improving to meet more needs.
This guide will help you decide if Revolut Business is right for you. We cover its key features and pricing plans in detail.
What is Revolut Business?
Revolut Business is a top-notch platform by Revolut Ltd. It offers digital banking services for small and medium-sized businesses. It has a wide range of features to meet different business needs efficiently and securely.
One key feature of Revolut Business is handling over 25 currencies. This makes it easy for businesses to manage money across the globe. It also works with payment systems via APIs, making financial tasks simpler.
Revolut Business doesn’t need physical branches, making banking easier. It serves businesses in the UK, the EEA, and many other places. It offers e-money services to UK customers with a full banking license in the EEA.
Using Revolut Business is flexible and easy. It supports various legal entities and works with software like Xero and Zapier. This makes it better than traditional banks for modern businesses.
- Revolut Business supports over 40 countries and territories, including the USA, UK, and most European countries.
- Businesses can integrate their accounts with popular software tools for better financial management.
- Revolut Business application can be completed within approximately 10 minutes, with approval times ranging from a few hours to 24 hours.
| Feature | Revolut Business | Payoneer | Wise |
|---|---|---|---|
| Trustpilot Rating | 4.1 / 5 | 3.9 / 5 | – |
| Monthly Plan Fees | £0 – £79+ | £0 | – |
| Card Fees | £4.99 per additional card | $29.95 annual fee | – |
| Supported Currencies | 25+ | – | 40+ |
| ATM Withdrawal Fee | 2% | £1.95 per withdrawal | – |
Revolut Business has over 40 million customers worldwide. It’s a powerful solution for businesses, with unique features and advantages. It’s perfect for small startups or growing enterprises, providing the flexibility and innovation needed for modern business banking.
Guide to Video Revolut Business Review
In the Revolut Business video review, users get a detailed look at the platform’s features. This guide explores how easy it is to manage accounts. It also shows how to handle international payments and currency exchanges, which is key for businesses that work across borders.
By watching the Revolut Business tutorial, users can learn how to use the mobile app. They’ll see how to make transactions and manage finances efficiently.
Revolut Business has different account levels for various needs. The standard account has a fair usage limit for currency exchanges. But, fees kick in after that, mainly on weekends.
Businesses can choose from Standard to Metal accounts based on their size and needs.
Premium plans like Plus and Premium offer more features. These include higher limits for fee-free currency exchanges and other benefits for growing businesses. The Revolut Business tutorial helps businesses use the platform well. It shows how to integrate it into daily operations smoothly.
Advantages and Disadvantages of Revolut Business
Revolut Business has many benefits for companies of all sizes. It lets you hold and exchange multiple currencies at competitive rates. It also gives out corporate cards for easy international transfers and daily tasks.
The digital app from Revolut makes tracking expenses and bookkeeping easy. This simplifies managing your finances.
But, there are some downsides to Revolut Business. It doesn’t have physical branches, which might be a problem for some companies. It also doesn’t support cash or cheque payments, which could be a limitation for certain businesses.
Some business types, like sole traders and public sector companies, can’t get a Revolut Business account. Customer support has also been slow for some users, leading to delays in solving issues.
Wise Business, on the other hand, offers a multi-currency account for over 40 currencies. This is more than Revolut Business’s 25 currencies. It’s important to look at these differences when deciding between Revolut and Wise.
Revolut Business has different payment plans with varying benefits and fees. There are also extra fees for currency conversions outside of market hours. These are some of the Revolut Business limitations.
| Features | Revolut Business | Wise Business |
|---|---|---|
| Supported Currencies | 25+ | 40+ |
| Local Account Details (Currencies) | 3 | 9 |
| Monthly Fees | Vary by Plan | No Monthly Fees |
| Exchange Rates | Market Rate | Mid-Market Rate |
| Dedicated Business App | Yes | No |
Revolut Business has its perks, like no fees for spending abroad and various pricing plans. But, it’s key to weigh these against its limitations compared to Wise Business to make a smart choice.
Revolut Business Pricing Plans
Revolut Business has a variety of subscription plans for different business needs. You can choose from Free, Grow, Scale, and Enterprise. Each plan offers unique features like free international and local transfers, payment allowances, and support for multiple currencies.
The Free plan is great for small businesses. Grow and Scale plans are for businesses that are growing. They offer more features and allowances to help businesses grow efficiently.
The Enterprise plan is for businesses with high transaction volumes. It offers customizable benefits and direct account management. This plan is perfect for companies that need advanced features like bulk payments and integration with software like Xero and Zapier.
Revolut Business fees are very competitive compared to other fintech providers. The Free plan has basic services with some limits. Grow and Scale plans have more allowances and lower fees for international transfers. The Enterprise plan is tailored to meet the needs of large businesses.
For more information, businesses can check out Revolut Business’s mobile app and website. They provide a detailed overview of their plans and pricing.
