Written by Sophia Acevedo; edited by Laura Grace Tarpley; reviewed by Evelyn He
- Pros and Cons
- Revolut Account
- Revolut Savings Vault
- How Revolut Works in the U.S.
- Revolut Trustworthiness and BBB Rating
- Revolut vs. Qapital
- Revolut vs. Wealthfront
- Frequently Asked Questions
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You may like Revolut if you're comfortable with mobile money management and frequently travel or use international financial services. But you may want to consider other options if you're looking for one of the best high-yield savings accounts.
Revolut Account
On Revolut's website
Insider’s Rating
4/5
Fees
no monthly service fees on Standard plan
Annual Percentage Yield (APY)
*Annual Percentage Yield (APY) is a variable rate and subject to change. These APYs are accurate as of DATE. Monthly fees apply for Premium and Metal plans. Terms and Conditions Apply. No minimum amount required. Savings Vault services provided by Sutton Bank, Member FDIC
Standard plan: up to 3.25% APY, Premium plan: up to 4.25% APY, Metal plan: up to 4.25% APY
Minimum Opening Deposit
$0
Pros
- No minimum opening deposit
- No monthly service fees on Standard plan
- No overdraft fees
- Prepaid debit card included (specific card depends on monthly plan)
- Early direct deposit
- Spend abroad in over 140 currencies
- Budgeting features
- Withdraw up to $1,200 from out-of-network ATMs on Metal plan with no fair usage fees
Cons
- Can't overdraw from account
- 2% fee of ATM withdrawal on out-of-network ATM fees if you exceed the limit
- $0.30 to $6 international money transfer fee if you exceed limit
Product Details
- Access to 55,000 free ATMs through the Allpoint ATM network
- Withdraw up to $1,200 from out-of-network ATMs on Metal plan
- Spend in more than 140 currencies
- Additional international wire transfer fees will depend on the transfer amount and whether there's a currency exchange
- Banking services are provided by Metropolitan Commercial Bank, Member FDIC
Revolut: Pros and Cons
| Pros | Cons |
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Methodology: How We Reviewed Revolut
In our Revolut review, we rated the app's accounts looking at features like minimum opening requirements, monthly service fees, and customer support. Learn more about ourmethodology for rating bank accounts.
Revolut Account
The Revolut Account is a prepaid debit card. There's no minimum opening deposit and zero monthly service fees with the Standard plan.
You might like this account if you prioritize international financial services. You can easily spend money internationally by making an ATM withdrawal in over 150 types of currency.
The Revolut Account also has budgeting features that let you round up prepaid debit card purchases or set up individual savings goals through Vaults.
Revolut Savings Vault
Revolut Savings Vault
On Revolut's website
Insider’s Rating
3.75/5
Annual Percentage Yield (APY)
*Annual Percentage Yield (APY) is a variable rate and subject to change. These APYs are accurate as of DATE. Monthly fees apply for Premium and Metal plans. Terms and Conditions Apply. No minimum amount required. Savings Vault services provided by Sutton Bank, Member FDIC
Standard plan: up to 3.25% APY, Premium plan: up to 4.25% APY, Metal plan: up to 4.25% APY
Minimum Opening Deposit
$0
Pros
- No monthly service fees on Standard plan
- No minimum opening deposit
Cons
- Low interest rate
- Can't turn Savings Vault into a joint account
- Can only transfer funds out to your main Revolut Account
Product Details
- Interest compounded and accrued daily
- Savings Vault services provided by Sutton Bank, Member FDIC
When you open a Revolut account, the mobile app also lets you open a Savings Vault, a type of savings account. The Savings Vault might be appealing if you're looking to earn some interest on your money. However, keep in mind some online banks may pay higher interest rates.
How Revolut Works in the U.S.
Revolut is a British fintech company with an international finance and investing app. Access to certain app features will depend on your monthly plan. Here's an overview of the U.S. plans:
| Standard ($0.00 per month) | Premium ($9.99 per month) | Metal ($16.99 per month) |
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Revolut's mobile app is rated 4.5 out of 5 stars in the Google Play store and 4.7 out of 5 stars in the Apple store.
The Revolut Account is FDIC insured by Metropolitan Commercial Bank, and the Savings Vault is offered by Sutton Bank, Member FDIC.
Revolut Trustworthiness and BBB Rating
We use ratings from the Better Business Bureau to help determine how a business deals with customer issues. Revolut has an F rating from the BBB due to a high number of customer complaints on the bureau's website, as well as not responding to or resolving several of those complaints.
Revolut has not faced any recent lawsuits or scandals.
Revolut Customer Service
Revolut customer support is available 24/7 through the platform's live chat. Revolut only has an automated phone system, so if you have any questions about the app's services and aren't a customer yet, you'll have to search through the FAQ section or send an email.
Revolut Review vs. Qapital Review
Revolut and Qapital are two mobile money management platforms. Both Qapital and Revolut stand out as alternative options to the traditional brick-and-mortar bank.
You may prefer Revolut if you'd like to avoid paying international transfer fees. Most banks charge between $40 to $50 per international wire transfer.
Qapital may stand out to you if you're looking for ways to save. While Revolut lets you establish personal goals through Vaults and round up prepaid debit card purchases, Qapital provides a plethora of tools called Rules. You can use the 52 Week Rule to save $1,378 during a year or reward yourself with savings by tying your account to Apple Health.
Revolut Review vs. Wealthfront Review
You'll probably prefer Wealthfront if you're looking for ways to earn more interest on a bank account.
The Wealthfront Cash Account is a high-yield checking account that earns a higher interest rate than the Revolut Savings Vault.
You might sway more toward Revolut if you frequently use ATMs. Both are connected to the Allpoint ATM network. However, Wealthfront charges a $2.50 out-of-network ATM fee, while Revolut's Metal Plan allows you to withdraw up to $1,200 from out-of-network ATMs without charging a withdrawal fee.
You also might like Revolut if you'd like to exchange currency easily. You can spend in over 150 currencies by making an ATM withdrawal through the Revolut Account.
Revolut: Frequently Asked Questions
Does Revolut offer a Visa or Mastercard prepaid debit card?
Revolut has both a Visa and Mastercard prepaid debit card. You'll be able to see which brand you'll get through the app before you order the card. The brand you'll get will depend on your location and which type of card design you choose.
Is Revolut available in the U.S.?
Yes, Revolut launched in the U.S. in 2020.
Is Revolut FDIC insured?
The Revolut Account and Savings Vault are FDIC insured as they are offered via partner banks. You may safely keep up to $250,000 in an individual account, and your money will be protected even if a bank shut down.
Can I transfer money from my Revolut to a bank account?
You can transfer money from a Revolut Account to another account. However, the Savings Vault only allows you to transfer money to your Revolut Account.
What are Revolut card usage limits?
You may withdraw up to $1,050 per day from ATMs based on your account tenure.
Sophia Acevedo
Banking Editor
Sophia Acevedo is a banking editor at Business Insider. She has spent three years as a personal finance journalist and is an expert across numerous banking topics.ExperienceSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, budgeting, and general saving. Sophia was also a part of Business Insider's 2024 series "My Financial Life," which focused on telling stories that could help people live and spend better.Before joining Business Insider, Sophia worked as a journalist at her college newspaper and was a freelance writer. She has spent seven years writing and editing as a journalist.Sophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of ABLE accounts, tax-free savings accounts for people with disabilities. She was also a winner of a 2018 California Journalism Awards Campus Contest for her photography.She loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She’s inspired by stories of everyday people adapting to their financial circ*mstances and overcoming their fears around money.ExpertiseSophia's expertise includes:
- Bank accounts
- Savings and CD rate trends
- Budgeting
- Saving
- How banks operate
EducationSophia graduated from California State University Fullerton with a degree in journalism and a minor in political science.Sophia is a member of the National Association of Hispanic Journalists.She is an avid reader across a variety of genres, and she started running in 2021. She ran in the 2024 Los Angeles Marathon.
Evelyn He
Compliance and Operations Associate
Evelyn He is a Compliance and Operations Associate on the Personal Finance team to ensure content accuracy and editorial independence so readers get up-to-date and objective financial advice.The compliance team's mission is to provide readers with fact-checked and current stories so they can make informed financial decisions. The team also works to minimize risk for partners by ensuring language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.
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The Revolut USA Prepaid Visa® and Prepaid Mastercard® are issued by Metropolitan Commercial Bank pursuant to a license from Visa U.S.A. Inc. for Visa cards, and Mastercard International for Mastercard cards, and may be used everywhere Visa or Mastercard are accepted. Banking services are provided by Metropolitan Commercial Bank, Member FDIC, and are subject to the terms of a Cardholder Agreement. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank © 2014. A note from Metropolitan Commercial Bank: Funds in your Revolut Prepaid Card Account are held at an FDIC insured institution. Your funds will be held at or transferred to Metropolitan Commercial Bank, an FDIC-insured institution. While there, your funds are insured up to $250,000 by the FDIC in the event Metropolitan Commercial Bank fails if specific deposit insurance requirements are met and your card is registered. Seefdic.gov/deposit/deposits/prepaid.htmlfor details. FDIC insurance does not protect your funds in the event of Revolut’s failure or from the risk of theft or fraud. See Terms & Conditions for details. Revolut is a financial technology company. Banking services provided by Metropolitan Commercial Bank, Member FDIC.
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