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You may like a Revolut Account 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.
no monthly service fees on Standard plan
Standard plan: up to 3.25% APY, Premium plan: up to 4.25% APY, Metal plan: up to 4.25% APY
$0
- 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
- 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
- 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
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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
Standard plan: up to 3.25% APY, Premium plan: up to 4.25% APY, Metal plan: up to 4.25% APY
$0
- No monthly service fees on Standard plan
- No minimum opening deposit
- Low interest rate
- Can't turn Savings Vault into a joint account
- Can only transfer funds out to your main Revolut Account
- 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 Revolut Savings Vault, a type of savings account. The Revolut 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.
Why You Should Trust Us: 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.
We assign each category a rating between 0 and 5, and star ratings can be anywhere from one to five stars. We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
Learn more about our methodology for rating bank accounts.
Revolut: Frequently Asked Questions
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.
Yes, Revolut launched in the U.S. in 2020.
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.
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.
You may withdraw up to $1,050 per day from ATMs based on your account tenure.
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. See fdic.gov/deposit/deposits/prepaid.html for 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.
